The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-01-01
OIL CITY'S MART OF OLD.
I'M or THE NOTABLE COMEDIES
N TRAGEDIES ON 'CHANGE.

One Time IL was n Dealing Place In Mil
lions-Tho Pluck of Mrs. Hannn-'' $780,
600 BllIs" OIL That Turned to Water.
Three for eighteen" announced a purple
faced man with a red necktie. This statement
was followed by that of a clerical-looking man.
who informed all corners in n voice whose
rapldity OF utterance told the initiated that no
was selling wheat calls at a dollar each. A
glance at the clip lying t.pon n table at the side
Of the ring revealed the fact that at the oil
City Exchange 5000 barrels OF oil had changed
hands.
To understand the full meaning Of this state
ment 1t is necessary to go back ten years. At
that time the Oil City Exchange was said to be
the largest in the world. But those times are
now past. From being the largest exchange
in the world It has become the only oil ex-
change. One who had been on the floor for
many years was telling o visitor of the glories
OF the past.
Yes" said he. in answer TO a question.
there have been many unhappy losses and
some great gains. I remember in particular
the case of Mrs. Hanna. l was the broker
through whom her later transactions were
made. In the early days the Hannas were
well-to-do people in a quiet New York village.
who were caught in the net which fate never
drags in vain and who came to tho oil regions
to lay the foundations OF one OF those tabled
fortunes. For a time all went well. Hanna
was a cautious man and operated only upon a
steadily falling or rising market, always with a
fair certainty Of a small profit. Gradually. as his
experience and insight into the market in
creased. he came to realize that in this way no
great fortune could be made. He saw that the
scope of his operations must he enlarged II he
would realize q handsome profit. He began to
cultivate those in the market popularity credited
wsNI H. Ia a = At ---A- 1---
atoms. He spent all Of his time and consid-
cradle OF his money as an admirer OF a man
whom ! shall call Brown.
"One day Hanna received the long-desired
tip. Its exact nature is unknown. A GER
tain oil company. it is thought. had drilled
In n number OF wells. which as fast as com
pleted were boarded up and not operated.
Such wells are known to oil men as .mys-
teries.' Their owners hoped in this way by DOS
sibie rumors to influence the market. Hanna
had been assured. in all likelihood. that the
mysteries Of this oil company were big
wells. and would drop the price Of oil down
with a bump. In any event. he sold for
nearly a whole day in the face OF
q steadily rising market. and sold short.
Toward 3 P. NJ. he hesitated. seeming to
feel uneasy. No mysteries came into the
market as big factors. Indeed the production
fell off a bit. and oil. already high, promised to
even higher. The time came when Hanna
was called upon to deliver the oil he had sold.
The market now show n considerable in
crease. Hanna could not deliver and he went
to the wall.
After affairs were fixed up Hanna went up
into one Of the border provinces of Canada.
where he tried farming. Mrs. Hanna, how
ever. refused to go with him.. though almost
commanded by her distracted husband to do
20 To- lFtan, ,raa ra L. ,ra - ln;l-
OF the women's gallery. Occasionally she
would be seen tossing messages to a broker
below. l was the broker. and so l know well
all the details Of her struggle. She proved her
self a good Judge Of the market and an able
business woman. Her method was a most
combination OF discretion and risk.
She paid absolutely no attention to the tips
that some kind hearted men familiar with her
attempted to have her follow. For
weeks she would buy small lots. generally with
q small profit. Then. following some impulse
but Of which l was always suspicious. she
would plunge. buying everything in sight or
Of her ~pIunges was unfortunate. In that re-
member she lost fully three-quarters OF what
she had put by; However, she made up her
she had satisfied her husbands bad debts and
still retained a handsome sum.
tied the Exchange. The boys in the ring knew.
of course. what she had been doing all these
game. The next day after she had settled up
all her affairs she had a few hours in the MORN
ing before her train went. Her entrance into
thHHsiastic demonstratlons. The boys gave
three cheers and a tiger for the plucky ,ex-
fed millionaire members Of the Exchange.
Virginia Reel reel" The cake walk had not StIalissiy"att
become known to, white people. and | hesitate
tto say what might have happened had the
the practical joker Of the Exchange, rising
ments OF the situation. climbed into the gallery
and poured the contents Of a flour sack down
upon the heads Of the brokersi So you see
Have you ever heard from her since?' asked
For a time I had word Of her once or twice
4 year. II, is now six years since | last had any
She is well remembered by the people of Oil
"Oh. yes plenty Of them. Speaking OF un- !
fortunate termination reminds me Of II case
conclusion were it not that nothing about Bill
Leary could be anything but funny. and his
sort OF chap. but his father managed to, die
s9rtRiEs s Bi ns B2I Sim lseh. l %ben c fhs ereat al al
AZ CIV iiS NNtAiN WY eiSN ilhtiA VbF iStll'A ~ !
abundance upon Bits farm. Bill began to put
On airs. He sent his daughter to a fashionable
boarding school. One day Bill called to see how
she was getting on. In answer to his inquiry
The teacher said:
We'll. to tell you the truth. the girl really
capacity
"'Capacity., said Bill. 1 can easily fix that.
buy her one and I'll pay for it.
when promoters tried to lease Bits terri
tory from him they met with an obstacle. At
they made the usual proposition to him.
They would bear all the expenses Of putting
a test well. and If that did not turn out a
dry hole they would bear the expenditure
for a set OF wells, pay the running
production, The land layin the line OF the
third sand oil development running across
hat part Of the country. As 1t was considered
likely territory. they. after consultation, offered
n quarter instead Of an eighth. He again
Then they had a little fun at his ex-
pense.-
Wen give ,yop three-quarters.' said they.
Nope, said Bill.
We'll said Johnny Farrell. who had an
aye for fun. III tell you what well do, Mr.,
Leary. We are very anxious TO secure a lease
II your territory. 1t certainly is valuable land.
make you this final proposition. and we
make it once for all. We will stand all the ex-
pense OF developing your production. and will
ive-tourths of all tho oil produced. What do
YOU say p
"Gcntlemen,, answered old Bill in dead
-- 49, t. 20 III. IL 1