Sistersville oil review. [volume] (Sistersville, W. Va.) 1896-1901, 1898-10-12
OIL NOTES.
THE OIL MARKET.
From Saturdays Daily.

11Ouu SotoiNoy -
This has been the most exciting
week In the oil business for some
time, on account of the huctuation
In the price of credit balances, The
indications at the first of the week
were for very dull period, and il
was dull all day Monday. Tuesday
the first change came In the mar.
ket appeared, and it was to the good
extent of one cent. Of course this
pleased every one connected with
the business, and all predicted a
great deal of work starting in very
short time, and from the way the
cordage, machinery and general
supplies went out into the field the
first of the week there was not the
least doubt but that there was a
good deal of work being started
somewhere. One Tuesday one of
the supply companies of this city
sent out into the field 50, pounds
OF cordage in cables alone and since
that they have sent out great deal
more. 1t is not only one of the
supply companies that is sending
out stuff, but all of them are doing
an immense business and are put
ting large amount of material out
into the field. This is a sure indi-
cation that something is being done
somewhere. The most of the ma
terial which went Out of here the
early part of the week went to the
northeast extension of the Elk Fork
field, where there has been so much
work started and getting ready to
start during the past couple of
weeks.
There is perhaps not another
pool in the southwest that is as &C
tive at the present time as the
northeast extension of the Elk Fork
pool, though it did get black eye
the early part of the week, There
are at the present time about ten or
twelve wells drilling out there and
fully as many more getting ready
to start just as soon as possible.
The outlook in that part of the field
for some time has been exception.
ally bright and the operators have
been taking advantage of the good
conditions of the roads to get their
material out while they can do 1t
with as little expense as possible.
The principal event in that section
during the week was the drilling In
of Childers & Co.'S we'll on the
Henthorn farm on Tuesday. This
we'll had been due in the sand and
was expected in several days
before and it was very important
for the reason that it was sur
rounded with some of the best look
ing leases in that part of the field
and when it came in a dry hole ii
made things look very bad, especial
1y for the we'll being drilled on the
Lowry and the one being drilled on
the Mercer. 1t is on the west side
of the Mercer lease and within a
few hundred feet of the Lowry well
1t was quite surprise when this
we'll came in dry as it was the gen
eral belief that It would be good
producer.
The one event of the past week
was the oil market as has. been
stated several times previously in
these columns. When the market
went up one cent the first of the
week, a great many of the croakers
were Of the opinion, and they ex'
pressed it freely too, that it was as
high as it would 60, and when this
paper made the prediction that il
would 90 to SI.Io before the tenth
of the present month, there was g
great deal Of pooh-hooing and il
was said it did not know what il
was talking ABOUT. On the mex