The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1895-07-06
LIQUID GOLD FEVER.
RAPID ADVANCE IN OIL HAS RENEWED
EXCITEMENT IN WEST VIRGINIA.

The Furorc at Tarkcrsburs-Story of tho
Finding " Pct-o!cu:n-Gco-sc Washing
ton Kncw Of Lts EXistcnce-Kow Senate,
Camden BIado His Fortune.
Among the natural ascurcc of West
Virginia petroleum has always beer
q. rated as third in importance, coal and
timber taking precedence, but Just at
this time Il superficial observer would
conclude that there is nothing but oil in
tho state. This is the result of the liq-
uid gold fever that has been occasioncd
by tho sudden and rapid rise in the oil
market.
P;Tkcrsbu1s being the center and
distributing point of tho West Virginia
oillicld, it is the place to get tho ben
GIFT CT all the excitement. Tt reminds
ono Of tho days "bcforc the war, when
oil was first struck, and it almost equals
the excitement in California over the
discovery Of gold.
Oil was first discovered in West Vir-
ginia and not in Pennsylvania. The
Pennsylvania fields were the first to be
developed, but the discovery belongs to
West Virginia, and tho largest oilfield
now i'll the world is at Sistcrville,
about so miles above Parlscrsbrrg. In
fact, the existence Of natural gas, which
Is tho twin sister Of petroleum, was
known to George Washington before tho
Revolution.
III l775, i'll IL Of hi, surveying cxrc-
dit:om to tho Kamawha valley, General
Washington discovered tic Cunning
spring" Ee did not understand the
phenomena, but SO we'll assured was he
that it was somo rich gift OF nature do
signed for the use Of man that he set
APART and decided to tho public forever
an acre of land near the Kanawha river,
abo3t eight miles above Charleston, Oh
which was the great national wonder.
1t was simply a hole in the ground,
which filled with water when it rained
and up through which issued a Jet Of
gas, giving the water the appearance Of
boiling, and when lighted burned with
IL bright flamo till blown out by the
wind.
In 1915 Captain James Wilson struck
I: gas we'll while boring for salt water
i'll tho Kanawh& valley.
Tho coal oil fever broke forth i'll al!
its fury early i'll 1861, when oil was
discovered st tic Burning springs above
F;,~rkcEsburg. 1t was then that fortunes
were made and lost in q single day.
In that field Gil was found at IL depth
Of from 80 to 800 feet, and i'll a few
weeks the whole field was pancturcd
like Il pepper boz.
1t was i'll the OIL o%xc;tenlcnt CT 1861
that Senator Camden, who is now class
ed among thp wealthicst Of Americas
millioIliIcs, cot his start. AT that time
no was q comparatively young nan,
with a. small law practice in Il country
town up i'll Tie interior of the state.
Sitting III III; rooln Il evening looking
over tho daily papers, lie suddenly turn
cd to his wife with the remark, Cam,
my fortune is made"
When slo locked for I'll explanation,
he said: 81 see here i'll tho paper that
oil las been discovered Oh tho L;ttlc
Kanawha. 1 am going up there to try
my hand ut developing the field" The
next morning he borrowed ell the mon
cy that his cOil"tcrals and the influence
of friends could scrare together for him
and then struck ont for tie Burning
In two weeks he had made
enough to pay back lis borrowed CAPT
and from that day to this there has
not been Il check in the progress Of his
marvellous business career.
Tho improvement III tho method Of
refining has advanced with tho progress
Of TIE industry, and discoveries hayo
been made whereby al tho refuso me.
Ter that was formerly thrown away is
low converted into useful articles CT
commerce. 1t is in this way that the re.
fncd oil has been reduced i'll price from
10 cents a gallcn to 10 cents and still
leaves IL coed profit to tho rcancrs.
Most of the wells that have been late
shot i'll the area Of the Oil basin have
good producers, and there is now
daily output CT from $4,000 to 5 5000
Yet experienced oil speculators say
hat the present rise i'll oil is net alto
,ether born of speculation, but is par
tally due to legitimate causes. Tie
has fallen below the demand,
md the spectators have only taken adj
vantage OF tic actual condition to inau-
IN era CT gambling.
Tho Russian oilficld is diminishing
is supply every yen, with 10 prospect
# new discoveries. Many CT the Amer
can fields have been totally exhausted,
md bat few new ones arc being discov-
red, and oil being the cheapest light
hat can be produced the demand fl it
las increased with the hard tines
Enquirer.