The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-07-21
AMERICAN
OIL EXPORTS
DECREASING Oil !: G
Weekly Review the Petroleum In
dusty by "Id,e Scout iicnser-
ing Southwest Field.
The PRODUCERS ARE INQUIRlNG
WHY There is Such Discrepancy Be-
wen the Quotations ontCrude
and Refined.

The export trade for &the past
month has followed In the wake OF 9TH
pr bearish features, and the govern
mcnt reports for May show a falling
off IN both the amount Of shipments
and the price received for Il. Just why
foreign demand for American oil has
nil at once fallen off is not generally
understood by the trade, especially by
the producing element. r For long
time in the past values have been
maintained at high figure and the re-
finer and exporter was able to conn
mand his own price. The report not
only shows that the number OF gal
Ions sent abroad have materially de-
creased, as compared with those OF
May, but are also considerable behind
the shipments for June one year ago.
In June the total exports of petro-
leum and Its products aggregated 7S.-
1924 gallons. which brought a cash
return of s5,739,942 This, as compared
with Mays report, indicates a falling
of OF almost 100000 gallons In amount
and in value of 81, 03S.0 as
And the falling off compared with
Junc's report one year ago. is still
greater as there was n decline of s.452.
3l5 gallons, but the cash returns were
greater by s257 80 The exports for the
month Of June were distributed as fol-
lows: Crude. 13,s12.1S4 GALLONS: naph-
tina, 1,oil,427 gallons; Illuminating oil,
56,S2S,519 gallons; 5lubrlcatilg oil and
parafine, 4,SO7.6S4 gallons: residuum,
o,772,67O gallons. From New York the
amount shipped footed up 46,sS3,694
gallons; from Philadelphia SlS,5so,s45
gallons; from Delaware ports, S,754.249
gallons; from Baltimore, 1881 sos GAL
Ions, and from Boston $3.50 gallons.
There is much comment among the
producing element Of the trade con-
corning the great decrepancr between
the price Of crude and refined. Why
this Is the. case they are unable to find
i reason, and say they should receive
higher prices for crude asthascd upon
the market for refined. -
The Wallace District.
The, Wallace district, in Harrison
county, West Virginia. still clnims the
attention of the trade and .is5 now re-
garded as the most important develop
ment In the southwest division, or for
that matter anywhere else. The past
week has brought forth unexpected de-
velopments from a section of the pool
wholly unlocked for. This is 'the find
ing OF 1900 barrel we'll by the South
Penn Oil Company. located upon the
il. F. Davis farm only one or two loca-
lions to the southeast from. the same
company's famous Whltman-farm we'll,
which has been a big proditre- for the
past four or five months. Last week
mention was made of this venture,
which was then producing three hun
dred or three hundred and fifty barrels
day and was; supposed Sto5be, top
notch figures, No one ever dreamed
that the well would evers:make 1900
barrels a day. as the. owners, were of
the opinion the we'll had been drilled far
enough into the sand to produce the
hest results. The South Penn people.
however. concluded to. sen6:fbe drill
deeper. Into the pay, which yrssulted In
increasing the production To- fifty OF
ffty-Hvp barrels an hour, -
This we'll has Internationally made
the territory to the southeast from the
Whitman farm well. look much better
than it was ever expected 1t Would. but
Just how far in this direction the big
territory extends remains fort:the drill
10 determine. When the Carter OIL
Company brought in their 1:::-A. RIifee
farm we'll, situated fully six miles to
the southwest from the Whiteman
gusher, 1t was thought the belts course
was to the southwest, and but very lit
tie consideration was given to" the
southeast. But now matters are ma
terially changed and there Is undoubt-
eddy good digging on both sides of the
old producer. y
The Carter Oh Companys late. well
on. the Rlffer farm, according 10 late
authentic reports direct from. the Wal
lace district, say it Is making Us bar
rels day. On the strength OF the two
last wells several locations have been
made and It will not be long until the
drill viii be bobblng and the pros
pectlve stretch OF TERRITORY tested.
AS the records now stand. the South
Penn OH Company's last well on the
Davis farm. is the biggest producer In
either. the eastern or. western fields. The
late discoveries in the Wallace district
have not by any means enhanced the
chances OF better market for crude.
but is regarded as one Of tho most
bearish textures of the trade.
The Garner.
The east side OF the old Garner pool,
near Proctor, In Wetzel county. Of late
has made very poor record. and the
drill has condemned many acres Of
territory which has for some time been
looked upon as reasonably sure stun.
But all predictions and guesses were
Wild. ns IA shown by the South Penn