The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-01

mains probably the most valuable of all,
the worth OF the by-products obtained by
distillation and refining are i~ncalcuable;
and that in them lies the road to riches
for many an investor. People now know
that certain great fields stand for certain
kinds of oil; that the Indiana field, the
Ohio field, the Pennsylvania field and the
West Virginia field, comprising together
the greatest field of iluminant oil in the
world. produce oil for lighting purposes;
and that while immensely valuable by
products are obtained from the oil fields in
these four States, yet the illuminant quail
ity is the distinctive feature of the
product.
They know that the word Beaumont"
which caused a frenzy only a few months
ago, used to indicate Texas oil, means a
fuel oil field; a field from which is OBJ
tanned oil quite valueless for illuminant
purposes, but rich in heavy by-products
and especially valuable as fuel. California
oil, once a meaningless term, now indi-
Gates oil of the same general nature as the
Texas oil-that is a fuel product-but differ
ing from it in the nature of its by-products.
California oil has come TO be but another
name for asphalt. so rich is the crude
pTOuuCI III pure dSpHdlIuih- - lew SIldliCl
FIELDS of that State produce Illuminating oil,
but the great California fields are producers
of oil worthless as an illuminant. but won
derfully rich in by-products Of asphalt and
lubricants.
AN OIL BOOM.
Not since the days of Goal Oil Johnny"
has oil so held the center of the stage.
Not since the historical Pennsylvania strike
- - ohI~, f-.,1o. Aoao roIoad
1t is unquestionably a fact that a boom is
on in oil, and yet it is doubtful IL the term
boom" should be used. 1t is a word sig
nifying in its peculiar American a swift
rise and a sudden fall. and II the opinion
of experts in oil-feld development is to be
taken there is absolutely no fear of a sud-
den failure of the great oil fields which are
now exciting public interest and magma
ton. Expert opinion says that the great
central fields of Indiana, Ohio, Pennsyl-
vania and West Virginia are practically in
exhaustible; that it is probable that the
vast Texas territory will continue TO De a
mine of wealth. and that the California
territory will be permanently valuable.
Expert predictions in regard to the In
diana and Ohio fields are particularly opti-
mistic. Both States have for decades been
leaders in the production of oil. but in ad-
dition to the fact that the old fields still
continue for the most part TO be big pro-
ducers there are in both States new fields
Of unparalleled possibilities. The state
ment is made unresevedly that the biggest
boom in history is at hand in Indiana oil.
The city of Marion is in the center of the
recent strikes, and the community talks
oil, thinks oil and dreams oil. Petroleum
has there succeeded gas on the throne Of
popular regard and as a medium for in
vestment. other Indiana cities excited over
the development OF wonderful fields are
Hartford City. Kokomo, Anderson and
Muncie. Besides these there are innumer-
able smaller towns which expect to profit
largely by the recent strikes.
FAILURE OF GAS.
a year ago these communities were de-
pressed and discouraged because OF the
rapidly failing gas. They looked upon the
future through clouded glasses. They
feared the removal OF the factories which
have made them great. because with gas
as a fuel out of the question it was be-
lieved that wholesale factory removals
would be the next misfortune Of the Gas
Belt towns. The development Of the oil
fields has measurably removed apprehen-
sion. In consequence the Gas Belt towns
are taking renewed interest in life and
are taking the gas failure more than philo-
sophically. The citizens are buying oil