The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-22
PRATHER'S $3,OOO,OOO RIDE.
SPEEDING NINETY MILES ON HORSE
BACK To SAVE a FORTUNE.

How the Idle Curiesity OF q Drilier or n Wild
cat well for u Fab oil Company Made
puiuioustres or All Concerned. and started
tho Boom Thnt Resulted In Pithoies Riches
zone Of the notable incidents Of early days in
the Pennsylvania oil regions was John Prnthor's
$4,000, 900 rido from Oil City to Pittsburg," said
Byron g. Smith OF Cleveland. and ] was tho
man that started him on it. l call 1t his $4,000
600 ride because by taking that ride he made
81 900. 900 apiece for himself and his two broth.
ers. When he mounted his horse at Oil City
that January morning in 1868 the three of them
combined didn't have $4,000. / was an Oil
well driller, and II was a few idle strokes OF my
drill In a wildcat we'll that l was about to draw
the tools out OF and abandon that sent John
Prather flying on horseback on that ninety.mile
ride to fortune-and he didn't have q cents
worth Of interest in the well, either.
'In the summer OF 1864 l was employed by
one of tho myriad, wildcat oil companies that
came into existence during the early petroleum
excitement TO put down a we'll on territory 1t had
leased of n farmer named Holmden The terri
tory was seven or eight miles beyond what was
then believed TO be the limit OF the Oil Creek
district. The company had an Immense capital
on paper, but IL actually had none at all. 1t was
formed solely TO dispose of its stock. That 1t be-
came suddenly one OF the wealthicst companies
ever organized in the oil regions. and was en-.
abled TO pay enormous dividends to its share
holders. was TO no one as much of u surprise as
II was to tho projectors themselves. The Holm
dcn farm wasn't worth "a oon ,l ,o,d Int Inv
pr,,h,r ,vb, w.s =. s,rJ,lo w ~ ,Io,1,n ho,i,u
watched tho u.,bods ona ,ntnuIa,Lnns ~ Ill
land spccnlntors IN tho crecL for a xcnror moro
believed he saw II possibility Of doing some
profitable speculation on the Holmdcn farm him.
self.
1.-THE company that had begun operations on
Il p'op't,! "a oons ~ II S''eu'"'ofs
not in the field were beginning to make anxious
and eager inquiries about 1t. John Prather and
hi. hrn,h,rs Abo o,a coorro ,v,,o1 ,ar,, -,
n ''A '" - -" ~
Plumer. and oil had been struck near it. Hc
induced his brothers to his way OF thinking
ahor, ,ho IIo,n,dnn fnrr and Ioh, ,vor, ~ hIs
aoou' .he ~ "i"' uhu 'onh went ms
father-in-law and on the part OF himself and his
brothers made him m offer of $25.oOo for the
refusal NJ thar mar, NJ bis fnrm M, ,cas.d hv
the oil company. the option to be for sixty days.
me securi,! .he trainers hnu 10 give WIS not
worth @so'ooo not An!tnihB ike IL. IL oelhe SIM
was tremendous. Farmer Holmden not beIiev.
ing the boys eouiu raise tha' much money In
sixty days. and seeing bettcr prospect for oil on
hiso,n 80, ..oon,od ~. oy.rnns s;cnnd no.
~ own arm, ae.'p''o II 'Nei "'u ''s"' p"'
pers to that OBJECT.
...i hate To do the hovs IN, n. THAR farm old
uo,,nson o.ia 10 mn ,ho aor ha snrnoa ,ho no
nolhaen saia 10 me inc a"y ne signed the pa
n they don't know n good thing when tbey'v,
~, ~ -, 80. eN W
got H. can heipH
This was along in November. / kept peg
cling away Mt the we'll | was drilling, and tn,
-
fF"ther boys began NEGOTIATING lor u customer
for their territory on the strength Of that well
They wanted 100000 for their part OF tn,
farm: found good signs OF oil, but no vein.
got clear through the third sand. which was a
-,
deep as we ar,i,ea N mn. those days, ana repor rte i.
dcrs ~ prcn still and ~ On IriiIiny Thrr,
st"Sk !" io" b nuh nplo,d 5n9"S on th ".'', muh M%.'r re q
The Prather bows saw that something had i.
az az a aHn and w' tieo onesf p tTttih,spr MAJ pF s.nt 20 Piitsbn no
TO work il up. This was about the first OF Jrnu
AIRY. 1875; JUS, a5ou, the time tina. n" ! d r = n
drilling beforc-a fourth sand. The wcathc,
was such that we had to shut down then
with IN, drill I wouldnt have taken any stoci
in that fourth sand
big brrak.un and thaw and the Sun"rintcnden
Of the company ordered me to take the tools on
, uanx had M more use far itHhaving Sisnnscd n
more than 100000 OF its ii. 100000 OF stock
i, Th wa the "yrr e, business ,hs we hra .na cost s,nr, 1t =; 9', o"s,
. orders, but before pulling the tools / thought
, would see. just Tor curiosity sake. IL there wa
r sand sas df more 70 i iHsS'n a io sn" W W nnai !, ! dropped iS5pp 'hI piu una
infn rho oil vein anH | Ind n ell that wa
=. having oil a; The raj, Of 400 barrels n d"V
. Tbcrc hnd been srnutcr. few times ms hiy n
r thai along oil Crrck. hut they;d had iSei
day and tfc numn was hen pcttinp most Of IN,
oil in Ri, region So This strike, seven miles be
r vnnS deyeinnmrnts in "A Wildcat country ms
sci The oil Held Wild. This well was on Pi,hol
Creek, and il was the starter Of Pithoie City
u where there were 1000 people In less than tw,
months. and millions of-but every body know
y the story OF PithoIe.
"Wci az Won may imagine how John mn,
u Abe prather felt when they heard what my idI
I strole ~ The drill hnh strurk and Won ma
t Imagine the feelings Of old man Holmden. II
had hnrgainrd WAY land for SD5 OoO-uroyide
the hoys could rnisc The money i'm tinc-ihn
was nov worth n million nj Irnst .Jnhn Prathe
i hurried to oil City md tciegraphcd George a
pIttshur0 TO stop Mi negotiations for the proI
u erly thai he mirht have on. No answer was r,
d ceiycd. Fearing that the farm would be sold b
Il George at figures which. although a forum,
would now be hui n song, John and Abe wer
. nearly crazed. There MAS no railroad commi
d n]ication with any ulnce from Oh CITY thcI
Telegram after telegram REMAINING unanswered
I John Prather hired the teeiest and best hors
y he could hnd. mounted IT early nrS
morning, and started for Pittsburg To- find h