The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-01-27


White Feather-Best Showing In
the Shallow Field.
Onward and upward is the tendency
in the general situation in the petrol
cum industry. As predicted In this coll
umn a week ago, the market has ad-
vanced. and the same, cause that forced
the appreciation in the crude market
in the past week still prevails, and
most likely before another week passes
into history the markets viii be marked
up several points. And all this has
taken place In the face of the ship
ments falling OF and the runs almost
equal to the demands, a thing which
has not occurred for many long months.
Many think 1t strange the market
should advance under these conditions,
but they fail to see that whine there
is falling of in the foreign demand
Just at present that the trade requires
a far greater amount of oil than there
is now produced. Look at the record
Of Lima oil shipments and runs for the
past year and It Is found the stocks
have dwindled down. and there being
nothing in the situation to change this
course the natural consequences win be
a total wlplng out Of the Ohio and In
diana stocks. To the most conserva-
tive and astute mind conversant with
the condition Of affairs both at home
and abroad It is apparent that some
thing must be done. to stimulate the
drill or a famine In oil viii be the In
evltable result. The same features that
characterize the situation in the Penn
sylvanla, Ohio and Indiana regions ex-
list in Russia, and the. operator has
signally failed to materially increase
Russian production. The demand, too,
for Russian fuel oil has increased in
the past twelve months at least fifty
per cent, and the outlook is that this
demand will continue to grow.
With the exception OF one or two lo-
calItles, which, are OF no special irn-
portance, there Is no new territory in
either the state Of Ohio or Indiana
from which a new production of any
consequence can be looked for. That
a famine is feared in Lima oil is evil
denced by the market being advanced
above the raise in the Pennsylvania;
oil, and which was undoubtedly done
for the purpose OF stimulating the drill
to Increase production. It is also evil
dent that the Pennsylvania stocks have
been preserved for a purpose. as the
time is soon drawing near when this
product will be more valuable than
present figures represent 1t. Produc-
ing properties, too, are advancing ev-
cry day. and by reason of the volume
of new work falling Off, on account Of
bad roads and weather conditions, de-
crease may be looked for in the Penn
sylvania output, the prices of produe-
ing properties continue to go up.
A Further Advance Probable.
Those who hold large balances in the
various pipe lines are selling just as
little Gil as possible. believing, for the
reason set forth, that a higher market
will and must prevail. Nor Is the field
situation in the regions producing
Pennsylvania oil any better than Is
shown in the Trenton Rock territory,
and the boom given every prospective
field for the past six months has In the
end turned out boomerang. Scio was
the last pool which gave new pro-
ductIon that amounted to anything, and
Its lease Of life was of short duration.
Cadiz O., turned out a flash In the
nan, and nothing more than has al
ready been developed can reasonably
be expected from this relegated pool.
The Big Injun developments in Lewis
county, w. Va, followed In the same
wake, and the one-day Eusher on the
Camden TractsWas about the extent Of
this POOLS glory. A second attempt u
now on the boards to boom this terri
tory on account Of the Stiles & Co. well,
Just struck on the Taylor farm. three
quarters Of a mile east from the CAM
den we'll; but, unfortunately. this well
found its oil in the salt sand, and Its
or thirty barrels a day. And II the
past history Of this formation is to be
taken into consideration In drawing
conclusions on its future. the new de-
Velopments will never cut a conspicu-
Gus figure in raising n new production
or open up productive territory.
Much has been expected from Greene
county, Pa, but the developments
there, which were thought would even
tunte into something important. have
all turned out no better than the other
disappointment. VOLTS Summit and
Jarvisvllle are about the only localities
at present showing an increase In pro-
duCtIon and an extension Of productive
territory; and the VOLTS Summit pool.
lust in the height OF Its glory, received
setback, II reports from the diggings
the past week are to be relied upon. the
northern extension has been looked up
on as sure territory-the best in the
poland which would eventually give
a big production. Each advance well
along this line that came in was an
A No. | producer, and all the develop
ments in the northern extension tended
to confirm this conclusion. But just
when and where least expected the on
ward march was reversed by n tull-
fledEed duster-on the Garrett lot, In
the town OF Marshville, drilled by In
graham & Co. This venture was pure
~ a test and is located fully three miles
to the north from VOLTS Summit. This
is the first failure recorded in this end
OF the developments and has complete
Iy changed the situation in, this part
Of the field. A number Of locations ~
ready made In this latitude have BEEN
abandoned, and one or two wells about
ready to start will now never be drilled.
n VOLTS Summit, at this early stage
OF its career. n showing the jumping
of place It Is not very likely that the
big production will ever be found here
that was expected.