Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1896-04-21

nent Investors.
Nashville Dispatch to Chicago Record)
Nearly 100000 Of capital has been
invested in the Tennessee oil fields
within the last six months, and eight
counties in the up Cumberland country
are awake with the industry. The
great value OF the oil fields was kept Sc
cret for some time by spectators, who
bought up all the land obtainable. The
latest news from the centre Of the Ten
nessee oil fields is to the effect that the
most sanguine expectations are being
realized and that this territory IS prov
ing TO be the richest section OF the
State.
The Standard Oil Company entered
he field some time ago, and there are
now fOrty-One companies, operating
4O4 oil wells. These companies have
arranged for tankage and are new dis
cussing the question OF the transpcrta-
ton of oil by pipe lines. Money is cir
cuiating freely and the men to whom
the credit Of this development is due
ere Capt. a. J. Fry. OF Little Grab, Fem
tress county. who has been looking for
oil up there for thirteen years; Bruno
Gornt. OF Allardt: f. II. Burt. president
of the Burt Oil Company; Capt. K. n.
Bowie. of Chattanooga; and several
others.
Judge A. c. Brown. of Michigan. who
Opened an abstract office at Allardt, has
performed a valuable work, and his
thorough knowledge of the business has
set all question OF safe titles to rest.
Carlin. the Ohio man, who comes from
Findlay. paid a visit to the field long
time ago. and. having satisfied himself
then of the future. he invested in lands,
and is now many thousands O. dollars
ahead. Great developments are eX-
pected within the next thirty days
Miss Stone of Brooklyn, y. Y. whose
foreman, James Cusack. has been in the
field for several months, has recently
sold a one-third interest in her wells
and leases for $4,000 cash to Frank
Files and Thomas Pearcey. Of Luding-
ton. Mich. The property includes the
noted Lacy we'll stone and 3,
and numerous leases. Messrs. Files
and Pearcey will have ar least twenty
strings of tools in the field, and viii
open sixty-fve wells on their part Il
the field Men are now on the ground
preparing for the immediate cOnstrUc-
ton OF a telephone line TO Allardt,
jamestown, Bcatland. Little Crab ana
other points, which will connect with
the wells. The saw mills are crowded
with orders for lumber for the c1nstruc-
ton OF derricks. teams for hauling ma
chinery and passengers are at a prem
ium. and the hotels are crowded.
W. n. HammertOn. the big Pennsyl-
varia oil and coal millionaire. IS en-
thuslasic over the Tennessee oil hrld,
which he declares is the richest in
America
1T has a great future" said he to the
Record correspondent, ''and the devel-
Cpment has hardly commenced yet, al
though there are hundreds of wells that
have just struck Gil. The number Of
flowing wells is really astonishing. The
proportion is many times greater than
among those holes SINK in Chic and
Pennsylvania fields. Oil is needed now,
as the supply is fast falling of in the
OF, fields Of the United States.
81 was greatly interested In the valu-
able holdings Of the Burt Oil Company,
the Cumberland Oil Company and the
New Rugby OH Company and also in
those controlled by Mr.. Carlin. Of Find
lay. o. A very large area Of the best
paying land is controlled by Capt. =. J.
Fry. of Little Crab. TO whom is chiefly
due the development Of the field
a great deal of doubt was expressed
as 10 the future Of the Tennessee oil
field. but that has been dispelled by
developments: until to-day the men
who were afraid TO invest are securing
every acre they can get their hands on.
Another very peculiar feature is the
fact that there has not been a dry well
reported and oil has been struck every
where at a higher level than was eX-
pected. The elevation CT the ground at
the mouth Of we'll No. I. near Rugby
road. is 1.23S feet. The elevation of the
town OF Rugby. seven miles away, is
/ .41O feet. Then at the celebrated Lacy
well. owned by Miss Stone. of Brooklyn,
y. y. the elevation is only 6l5 feet.
and oil at tina, point was struck at 357
feet. showing that the oil was found 25S
feet above the level Of the sea at low
tide at Mobile. Ala.
Here is an article continued Mr..
Hammerton. recently published in the
United States Investor Of Philadelphia.
which is interesting in connection with
the newly discovered oil field in Tennes-
see:
1.-THE decline in the quantity Of the oil