Sistersville oil review. [volume] (Sistersville, W. Va.) 1896-1901, 1898-10-05
McMullen & Shay are building

made. They have also made the
locations for a couple of wells on
the Schmeltzerbach farm, the rig
for which will be started in a couple
of days.
Afford & Garner have the rig
completed and will commence spud-
ding at their No. on the Snider
farm, in a couple of days.
The Carter Oil company have
put their No. on the Musser farm
to pumping, and it will be good for
about As barrels day.
Despite all indications to the
contrary, there was decline in the
market this morning of one cent
which affected all oils but the Lima
and Indiana. 1t has been generally
conceded on all sides that there is
every reason for the market to adj
vance and it was believed that 1t
would do so, and the impression
still remains. The fact that there
was a falling off of one cent this
morning should not scare the oper-
ators and producers with making
break for the purchasing agencies
to dispose of their oil. This is a
bad thing to do and is the very
thing which the board of managers
of the Standard expect them to do
when they reduce the price market
down a cent.
They think they will scare the
operators and producers into be-
lieving that the market will con.
tinue to break, and in this manner
they will be scared into selling the
oil which they have been holding
for long time. While no doubt
some of the operators and produc-
ers may do this very thing, there
are a great many of the old-timers
who are onto some of the tricks of
the big corporation, and they will
continue to hold their oil for the
higher market, which is bound to
come before the winter is over.
1t is fact that along towards
the end of the month there is gen.
orally an advance in the price OF
credit balances, when there is any
advance, which has been very
seldom event for some time, and
then shortly after the new month
has been ushered in the market
will commence to fall off. This
huctuating of the market is done
with no other purpose in view than
to scare those holding their oil in
to selling it, and, of course, in some
cases the bluff goes. ...
The Review is candid in saying
that it believes there will be an
other advance in the price of credit
balances in short time, and it will
be very substantial one. There
is no reason why there should be
an additional decline, and every rea-
son why there should be an advance.
The stocks of American oil, which
is the best in the world, continue to
decline, and in the meantime the
markets for the product are increas-
ing and will continue to do so as
long as there is any oil to be sold.
The great bugbear story about the
fields Of Russia, India, Sumatra and
other countries cutting any figure
in the sale of American oil IS all
rot. None of these oils can come
near the American product in guam
tity-the tact is. the majority of
these oils are about on a par with
the stuff produced in the sulphur
Gus oil fields of Indiana and in the
vicinity of the Limas in Ohio.
Then again, another thing is the
fact that despite the increase in the
use of electric and gas lights, there
is a steady increase in the use of
the better grades of illuminating oil
in all parts of this and other coun-
tries, and of course taking all these