Sistersville oil review. [volume] (Sistersville, W. Va.) 1896-1901, 1898-03-09

'" ~ - = ~ $500 . n 49, " - 3, Z, ~
Eel county Isl reported as being
down. about 500 feet w. s.. Van
.druff is experimenting the drilling
-, aIeall 3 Texas NOTES. 81, .,o6..
Attorney Robt. 1. Gregory. re-
turned home last evening from a
two weeks stay in the Texas oil
field, and on being seen at his office
by a Review reporter, expressed
his ideas as, follows: 80 On
"I went to Corsicana, Texas. at
the solicitation ola. Chicago syndi-
cateI am interested with in order
to thoroughly inspect the new oil
field, and. to ,maka some invest
I rode through the coun-
try and visited all the wells and
found them to be making from five
to twenty-five barrels per day each.
There is very little, gas and most
of. the wellsare being pumped. The
pay is found about 1860 feet, and
completed well, drilled with the
Rotary only, costs about $I.25o;
so you see. operating is quite cheap.
The operators heretofore vemost-
ly been inexperienced men, and the
consequence is that lots have been
drilled and locations are now being
made within 100 feet of producing
wells; there will be quite number
of these people who will beleft high
and dry as fifty per cent. of the
wells in the city will never pay out.
However, now oil men from the
Pennsylvania and West Virginia oil
fields are getting in and quite
number Of locations are being made
on Large tracts. The field, so far,
has shown to extend about three
miles out from the town and there
seems to be quite a little pool of oil
in Navarro county. Unfortunately
for the people, the great Standard
monopoly has purchased the pipe
line and are erecting tanks and stor
ing the oil. Through secret agents,
the Trust has, in my opinion, COB
bled up the better part of the field,
and of course will control it. The
price now being paid to the pro-
Queer is fifty cents, and am much
afraid that, although oil is on the
rise, the Texas oyerator will not
feel the advance. A small refinery
is being erected. and soon the South
ern markets will be supplied from
Corsicana."
"The town has a population of
10, 900 and the natives are clever
people, each willing to give help
ing hand to the stranger when once
within the city's gates.
Texas is a great state, rich as a
farming country, and being large in
area, is practically undeveloped.
However, it, does not come up
to West Virginia, either in mineral
richness or in. snap and push in
business, and j found no town with
as live people as "The greatest
town on EARTH" Sistersville. OH
men, after all, are the most pro-
gressive, and the difference is very
noticeable after getting out of this
section. I read with much interest
the Oil Review and found it made
me feel as though l had commu
nication from home. Our little city
is already known through the
greater part of Texas and wherever
1 went referred my friends to a
place they should follow the exam
pie of. -
The Bradford Record, gives the
following account of the slump in
the price of oil on the Exchange.
"The certificate oil market opened
heavy this morning, with cash oil
offered at IS and was offered down
in IS minutes to sales Of 5000 cash
oil at So15 cents. At 1890 a. m
ooo oo,b I'll cold Of M cents