New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-13

grca ter riches in Wall Street, ana the average
oil advcnturpr would have in the long run been
rs rich had he stayed at his desk or his plough.
Rut there WAS chance the glamour OF the I'M
known. the getting of what our pious ancestors
would have called godsends. being the reapings
If what was not sowed There was trickery and
hard business dealing and n graSping struggle
for dollars but with II all the very atmosphere
was charged with romance; one felt mat the
heaven itself must be a diccbox and Fortune Il
present ruling goddess.
The oil fever is perhaps 10 break ou' again
after long being dormant That will depend on
thc u.rmlncncc of the causes which shall be
found 70 have led TO the present rise in prices.
Rut thr renewed prosperity. if il proves 10 be Il
rrnuipn renewal. is not due 10 the discovery OF
now fields and incursionS of hordcs OF fortune
hunters dreaming Of fabulous gains. New wells
may he drilled and some new territories opened
nm hut the real significance of the upward move
mcnt is to he found in the effect exertcd on the
oil producing industry as al present condu'''u'
For several years the owner of oil lands has
found i, Of little use 10 develop them. The re-
dncrs were able 10 command so abundant sup
plies without long transportation ,hat me p'lC'
or crude oil was kept at m almost Impossible
ran frees, and were nearest the pipe lines could
he made To- pay The exchanges were DESCRIBED
fine ..wildcattcrs" found little encouragement 10
activity. Last year the total number "' wells
,o,n,ln,,1 WIS only 314S The production in the
twelve months amounted To iS.WtW" barriers.
This supply did not meet the demand ny ">"'
,sO barrels and the old stock. held b"cans" SOHO
men would not part with their yield ut III" rum
ous price is estimated as having been reduced
,o ( Ooo 900 barrels The natural result of long
depressed prices has come. American oil Is bet
fer than ASiatic The demand for export has
hccn large without having been for a long time
folt hy the producer or enabling him Ia get bet
fer rates The phenomenal advance began less
than n week ago but the causes when lrd 10 II
were felt beforehand. The number Of new wells
In course If construction on April Is stated rs
.o1- almost half the entire number drilled last
vo,r New pipes are going down all through the
pcuusvIv1ujo and ohio fields and old wells are
being torpcdocd anew to increase their flow.
Many observers believe that this new activity
is to continue. notwithstanding IN" ha'urai zen
dcncy 10 return 10 low prices when nm lhcr'aS'i
production has been stimulated. Rut even II me
rriction follows with reasonable quickn"SS. me
boon 10 the oil regions IS considerable Reports
show that within few weeks In" STANDARD oil
Comp1nv has spent S}.oooooo purchasing lands
from individual producers The new wells VIII
give profit 10 many drlllrrS. who have had litil"
prospcrity Of recent years Wells cost anywhere
from 81 600 10 $1,000. They are likely 10 hr
located with better Judgment than in III" early
DAYS Of oil fever and So give farcr return 10
the owncrS And most encouraging Is III" agree
mont of all III" accounts that il Is not the reiin"r
or the SPECTATOR who i the gamer 10y the excite
mcnt. bn the producer who can supply III" lcGi'-
MAZE demand for petroleum. Excitement in any
industry through prospects 0f steady demand ana
GOOD prices IS something to b" thankful Tor IN
these DAYS. one hit " prosperity may set money
foning encourage investment. ana h"lp s'Af'
good times again.