The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-07-18
Bodies Recovered.
WEEKLY OIL REVIEW.

When the credit balance market was
cut loose from the 81 10 mark about
fortnight ago where Il had been an
chored for 50 many months 1t was not
expected that four two cent advances
would be made one after the other
but that Is what has happened, says
D. S. w" in his weekly oil review.
The Buckeye. Indiana and Scio pro-
Queer shared proportionately in the
appreclation in values. In the abb
sence Of sensational field developments
the main topic discussed by oil men
during the week was the market. opln-
ions as to the cause OF the sudden nd
vance differed but on one point nearly
all agreed tina. the rapid advances
since the latter part OF last month could
be accepted as pretty conclusive evil
dence that 1t would go higher.
Now that the market has shown re-
newed activity there Is a desire on the
part of producers to increase their pro-
ductlon. Those who had temporarily re-
tired from the producing business are
now anxious to get back In and in con-
sequence one hears many inquiries
from those who desire to purchase
production. Brokers who usually con-
duct the negotiations between the SELL
err and buyer say there is very little
property offered at this time. The little
that had been offered has been with
drawn from the market or the nsking
price advanced to point beyond
where the conservative purchased can
be interested. The average producer
with a little settled production would
rather retain his holdings than let go
at even fancy price and take chances
validating for new. He is well aware
-
chlnery have about doubled and there
is no certainty that still higher prices
will not be demanded In the very near
future. The manufacturers Of boilers
and engines made an additional i'd
vance Of per cent during the past
week and the end will be higher price
demanded for both.
The gusher on the English farm on
Wilson run, Washington county, Ohio.
attracted q great deal OF attention 70
that territory week before last. II set
tied to about five hundred barrels n
day during the pnst weak nnd stands
al the head Of the largest producing
we'll in the eastern fields ut this time.
The owners CBOggs & Coz we're justly
elnted over this strike and II serted to
Increase their confidence In their hold
lngs until they drilled In their No. on
seven hundred feet from the gusher and
got a dry hole.
In the last review Of field develop
ments II was pointed out that iust such
n contingency might arise. The own
erE OF the T. English lease had un--
bounded faith in II and paid the land
owner $1,000 for one-half the royalty
right, equal to one slxteenth Of all the
production. The frst we'll completed,
az previously stated, proved n duster,
but later in the week n second weil was
drilled in on the same farm and the re-
suit was a one hundred barrel producer.
In the shallow sand territory in Nor
gan COUNTY west OF Marietta, there is
great huBtllng for new production. An
occasionally good producer keeps up the
interest in that quarter. The produce
ing sand is found at depth Of from 100
20 300 feet. so that a few busters or
very small producers do not force the
operator into bankruptcy. Some Of the
largest eastern producing companies
have been attracted to this territory.