The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-15
WEEKLY OIL REVIEW.

Both tho oil market and field devel-
opments were almost featureiess dur
Ing the past week, says "D. s. W." In
his review. The disposition 10 daily.
with the speculative end OF the busl.
ness, 80 strongly in evidence two weeks
ngo, entirely disappeared, and one
scarcely heard AN inquiry for quota.
ltlons. With the certificate market be-.
low the credit balance quotation. busl.
ness was Resumed at the purchasing
agenciea and there was qulto'a rush to
sell beforei II struck bottom. The Rener.
al feeling seemed 10 he that Il would
20 lower By tho close OF the week
there was greater confidence and few
side bets thatit would. 20 higher before
1t went lower. The weakness OF the
speculative market has discouraged
business on the oil exchange and for
several days at the close OF the week
not a single transaction was recorded.
1nterest In field Developments revived
during the week, but up TO the close
nothing traHsplred to cause any conf
motion In that branch OF the business,
All through the producing districts
there was nothing discovered TO change
tho general aspect OF the Held sltua.
tion.
The lower southwest was interesting,
With Whisky Run the stellar nttrac-
ton. Two wells were promised by the.
end OF the week, but both failed 20
connect. Gartlan G. Company. howev-
or, reached the sand on the Payne
twelve acres Sunday morning and
put twelve inches, or about thirty
five barrels, In 960-barrcl tank the
first hour. The location Is about three
hundred feet cast aud little south OF
the Albrclcht gusher.
Barnsdal! & CompnnY and Mallory
Bros. shot the last named well on Sat-
urday afternoon, and increased Its pro-
ductlon from twelve to twenty-e!ght
barrels an hour.
Another extension to the Henderson,
pool to the west Is now assured. The
well on the ]. D. Nowcry farm, n mile
In advance OF developments, Is holding
up at sixty barrels Il day, and new
well completed last week on the ". S.
Nowery farm, about midway between
the ]. d. Nowery and the old develop
ments, shows a connecting link between
the two.
North OF Cairo, Richie county, n well
estimated at twenty-five barrels a day
was drilled in on the A. Z. Garrison
farm and makes the outlook for an cx-
tension In that direction very promis-
ing. Richie and Wood counties are In
the lead with new attractions. Late
discoveries have encouraged wildcat
tiers TO search for new pools. &
The big wells in the Elk Fork pool
are fast disappearing! But seven wells
In the pool are now reported making 100
or more barrels n day, all are located In
the southwest extension, and are as
follows: Henry & Mcdonald No. 3, w
W. Cornell, 10 barrels; Elk Fork Oil &
Gas Company No. S. ]. X. Hill. 100
barrels: Cobb & Grim No. ., Harris.
195 barrels: Fearless Oil Company No.
4, w. w. Gorrell, 100 barrels; Fearless
OIL Company No. I. W. W.. and No. 9,
Agnes Gorrell. 100 barrels. respectively;
Treat &; Crawford No. II, J. F. FAR
rell. 100 barrels, and Fisher OIL Com
pany No. ]. Henthorn, 100 barrels. To-
tai production OF the seven wells IS5
haT'els day. The wells now drilling
are located within defined territory. and
all are expected to be small producers.