West Virginia daily oil review. [volume] (Sistersville, W. Va.) 1894-1902, 1898-10-14
OIL NEWS.
OHIO OIL.

OSl 50 luS buckeye ripe lluS ldu
outstanding acceptanceS and other
vouchers amounting to 1850, 900
barrels of oil, exactly the same as
at the close of August.
Credit balances, however, on
September 80 were 2,52I,263 4S
barrels. On August 81 the credit
balances were 3,I9o,9I4,o4 barrels.
This shows that producers during
the month of September, on the adj
vancing market disposed of oil that
they had been holding in the line
amounting to 500, SO barrels.
The runs from the wells for
Septemberamoun to ASP, 3II.95
barrels, and from other sources
226, 765.4I barrels. During August
the runs were I,528,979 barrels,
which shows that there was a fall
ing off in the runs for September
of 76,667,o5 barrels, or 2,555. 90
barrels day.
During September the shipments
were 2,2S6,246.66 barrels. This
shows decline from the statement
for August, when the deliveries for
the month were 2,449, 546. "a bar
rels.
The net stocks on September 80
amounted to I7,o2I,263 48 barrels,
and at the close of August II, $780,
9I4.o4 barrels decline for Septem-
Der of COG, SO barrels.
At that rate of reduction for
year there would be only about
5000, 900 barrels Of Trenton rock
oil on top Of the earth. The value,
however, under such circumstances
would be perhaps fully equal to all
in store on this date.
The condition of affairs and 20.
sitiOn Of the trade warrant hope, at
this time, of further improvement.
But too much must not be looked
for i'll too short time. There are
always chances for drawbacks and
for adverse circumstances to be en-
countered. Operators are doing
fairly we'll at present and the labor
ing element is certainly enjoying
some Of the fruits of what we are
willing to term prosperous times.
One of the most encouraging
signs of the times is the disposition
of producers to grab up small pieces
of territory that promise only med
ium wells at least. Old wells are
taken now that two months ago
were gazed upon as remnants only
of defunct enterprise. Times
change mighty suddenly III this
country, and in this business. The
poor of today are the rich of to-
morrow. The clouds of yesterday
give way to the sunshine of today.
Every county in which oil is
produced feels the beneficial effects
of the rise in values. Every town
in these counties finds business in
creasing and every citizen thereof
wears a more encouraging look,
and feels very much more hopeful.
All this has come about as a re-
suit of oil. The producer may not
realize much greater returns than
when oil was lower and his wells
higher, but he has the satisfaction
Of seeing others prosperous as we'll
as himself. 1t was stated by q
prominent producer yesterday that
he made as much money in the field
when oil was IS cents a barrel
AS he has done at any time since.
In fact this is the experience OF
others besides Mr.. De Laney, who
made the remark. But Wood coun-
ty, where he operated, was an Tin
usual exception. Its wells were Of
enormous capacity. During the
first few years Of it's development a
we'll that did not exceed 100 bar
rels a day was considered failure
sBut the statistics as above given
show the trend Of events through
out Ohio and Indiana. The Buck.
eye Pipe Line company deserves
the thanks of the trade for this ex.
hibition of its business as its prom.
ulgation is a matter of independent
choice. There is no compulsion
Below the statement for Septem
Der is given as received:
Acceptance and vouchers.......... L, SOC, oo. oc
CTcdt balances. 252I, 2oS.4>
Tota liabilities OIL 2oS as
'IEOSS 70 $50, JOG. OK
Sediment and rpus................ 2o3S, sos, 81
Other receipts. ACKNOWLEDGEMENTS. 226, 76S.4
,L,nt.l r..r,a LII =.