The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-04

Gassers Being Blown Out and Millions
OF Feet Wasted Daily.

Special to the Indianapolis Journal.
ALEXANDRIA, Ind, May 3.-Great ex-
element prevails here over the find of a
northumberland oil well, located two
and a half mile northeast of here on the
Minrod farm, in Section II, Monroe town
ship, Madison county. The pay streak was
not found in this venture by the drill, but
it was left to the explosion of 100 quarts of
nitroglycerin to bring the crude about. The
well, when first completed, was a roaring
gasser and the owners made an effort to
dispose of it, but failed to fine a purchaser.
S.. S. Longabaugh, better known to the oil
trade as Dry Hole Dan," and one of the
greatest wild-catters in the country, is a
half owner in the prize. He succeeded in
capturing leases on about three thousand
acres in close proximity to the well. Big
prices are being paid for territory in the
new field. The Ohio Oil Company put up
81. 200 for a 129-acre tract adjoining the
Longabaugh well. In the immediate vicini-
ty Colonel Tim Spellacy paid $1,000 for a
lease on a 160-acre tract. Harry Mount, of
Montpelier, secured a. fine tract at a very
low figure.
Some of the choice tracts are being zeal
ously guarded by the farmers, who are ask
ing a stiff price for their rights, along with
the usual one-sixth of the product. In the
heat of an excitement like this the price of
the commodity is but trifling. Since the
completion of the CarVer-farm well the
market of Indiana crude has dropped off
from AZ to as cents per barrel. Eastern and
Ohio markets followed suit. 1t is impoSS1-
BILE for any one not living in this vicinity
to realize the effect that the drilling in of
this we'll has had on the speculative char
acter of the citizens, as they are all turned
spectators out of the wonderful find. The
Carver we'll has been connected to a short
pipe line leading to the Lake Erie & West
ern Railroad to the loading rack, where the
oil is allowed to flow into the oil-tank cars
standing on the sidetrack for that purpose,
and the first shipment of oil was made
from the well to Lima, O., last Friday. At
least three-fourths of the oil territory in
close proximity to the new well has been
leased for several weeks;
The Lima company, which WINS the Car
yer well, will drill more wells at once, and
as soon as the production is great enough
to warrant the building of an oil line, the
Buckeye Pipe Company will lay the re-
quired line to the new territory to the re-
ceiving tanks near Montpelier, or attach the
line to the Chicago line and erect a IS, co.,
barrel tank and pumping station here.
the richest in the State, and the grade of
the product is better than that found in
other sections of the State. 1t is evident
that the rush has only commenced, and that
the oil men are on the ground to stay and
reap as much of the profits of the discovery
as is possible. Every train brings a num-
Der of men, who come to investigate the
new well. and when they arrive they at
once become as GAClleu dS those VINO are
here and remain to help divide the spoils
that shall be found. 1t is now evident that
for the next few years this State will be
the seat of activity in the oil line, as this
Carver well opens up an entirely new field
and shows that the greatest oil pool in the
State, perhaps. will be developed on the
west edge of the famous gas belt. Wells.
Blackord, Jay, Adams, Grant and Hunt
ington counties, which have been the active
part of the Indiana field to the present time,
constitute a drop in the bucket only TO what
the west edge of the gas belt will develop
into. Some five years ago the writer, who
is familiar with all the oil fields of the con-
tinent, stated before a large number OF oil
operators that the west edge of the famous
Indiana gas belt would some day develop
into one of the most phenomenal oil fields
of the world. and it now looks as If the
prediction would be borne out. All the
heavy producing oil fields yet DEVELOPED
have been found to the west from gas fields.
while on the north and east from the gas
area good and paying wells have been
found, but nothing in the way of gushers
like have been found on the western edge.
There is hardly any doubt but the lands
around Broad Ripple contain a very produc-
will drop in there and develop a gusher.
The old Light we'll shows there is oil i'm
paying quantities in the immediate vicinity.
Some years ago a well was completed sew
drilled for gas, but oil was encountered, and
all indications pointed to an oil producer of
at least fifty barrels a day. but tho hole
was abandoned and nothing more thought
of it. Since then the gas pressure has
grown les, and We're the we'll to be drilled
at this late day ii might have proven a
gusher. greater even than the famous Har-
riS-farm producer east from Montpelier.
The best part of the Indiana field will some
day be found north of Indianapolis, in the
vicinity of NoblesYille and Cicero. Time
and the drill will tell. Persons feel unwil-
ling to state what their opinion is, but If