New-York tribune., 1902-06-29
PETROLEUM PRODUCTION
GREAT INCREASE IN THIS COUN1h1 IN
19O1-MANY STOCK COMPANIES
FORMED.

FORMED.
Washington June 2S (SpeciaD.-In his report on
petroleum in Mineral Resources of the Onlteu
States 1901" in press published by the inter
States Geological Survey, +. H. Ohpnant invites
attention to the following conspicuous features
in the production and sale of petroleum In the
United states during the year 1901 He notes that
the production of crude petroleum was greater 'nai
that of any previous year, and that there was
ver, remarka BILE increase in the production in the
States Of Texas and California, decrease III the
nroduction of the Appalachian Eastern pc
troeum fields. and slight gain In the output VI
the Lima-Indana region OF the total proouctioi
in the United States so per cent came from the
Older Appa la chian and Lima Indiana fields, leaving
% per cent to be up from all the other heids
this amount is 11a per cent greater than the pro-
portion furnished 1900 by the other helds lhere
was slight decrease in the number of wells COM
p.eted in of the important fields. and STOCKS
held In the Appalachian and the Iima-Indiana
fields were also slightly decreased Ihere was an
average decline of about "A cents barrei Ios
crude petroleum at the wells in 1901 as compared
with 1900 The exports of petroleum and its prod
ucts increased and were larger than ever before
recorded, although there was slight decrease IN
their total value. The year was conspicuous for
the new pools found and for the new production
In the Southern and Western States, when was
followed by the organization of an immense num-
Der of petroleum stock companies representing
many millions of capital
The total production of crude petroleum in the
larger than that of any previous year Ii was
larger b, s. 76s 665 barrels per cent than the
production of the year 1900. The increase IN the
production of 1900 1899 S54 barrels or
II per cent and the increase In 1899 over 1888 was
per cent. an average gam Oh - Per cent ioi o
last three years
AS compared with the value of the total produc-
ton of 1900 go 529 barrels. valued at s759S9 93l3
the total production of 1901 $3.50 1874 barrels valued
at ss6 All 335 shows decline of s9.5719s1 In the
orda NJ
q 100000 barrels: West Virginia second with over
100000 barrels; Pennsylvania third with over
100000 barrels: California fourth with over S""'
900 barrels Indiana fifth with over 100000 barrels;
Texas sixth with over 100000 barrels, loss in
production as compared with 1850 for Ohio. west
Virginia and Pennsylvania. and a gain Of nearly
100000 barrels for California of little over 5ooo
600 barrels for Texas. and of nearly 100000 barreis
for Indiana This production for 1901 by fields, was
in round numbers. for the Appalachian field S5on-
900 barrels: Lima-ndiana field 21soocoo barrels;
the Southern California field, Ssoo.OS barrels anu
for the Texas field, 100000 barrels.
The quality of the petroleum produced from these
new sections generally much inferior to that pro-
duced in the old fields but the greater part Of 1t Is
valuable fuel in its natural state or after some
of the more volatile products have been removed
particularly acceptable as fuel in the absence
of available coal deposits in the Southwest and
West. In 1901 the Appalachian field produced 'S-4'
per cent of the total output. the Lima Indiana
field 316I per and all other fields 19si per cent
as compared. respectively. with So per cent, Si@+
per cent and s6l per cent in 1900 The new fields
of California, Colorado Kansas. Wyoming and
Texas it IS observed. produced practically ~ per
cent of the total production of 1901 n gain OF ia
in percentage over 1900 with the probability that
the Southwest and West produce So per cent of
the total output in 1902.
The average price paid for all the petroleum mar
keed in the United States during 1901 957 cents
n barrel as compared with s194 in 1907, showing
a decrease OF % I cents "A barrel 20 per cent the
lowest price since 1895 The gross decrease in value
for 1901. compared with 1900 was nearly i5 per
cent notwithstanding that the quantity increased
for the same period little over per cent. The
average price paid for Pennsylvania petroleum.
which represents 49, per cent of the total produc-
= er cent + produced in 1900 and marketed at
average price OF $s barre ber dSene Wa decline
of 377 barrel in the average price paid Tor
barrel for the Texas product E 1901 as as COMPARED
with 1904 decline accounted foT by the ncrebStbb htb
production of the new helds developed III DOT"
the United States in search of petroleum approx
mates fg OF which & 80 & are g astimated at 81
575Co approximately One-third of the receipts Tor
In i$Gi for the irs1 time in the history of the
fTade ira tRe y t%ti xnmrtr u exceeded 100 e o0 the
number of gallons being o62 100 $1 gain OF per
exports in 1901 was s7l.i59l24, as compared with 2
value of s3 in ,so The total - ex9Srts iaI e2i of
$40 g2oGs5 gallons. about 36S per cent of the eX-
The average price received for all the various
petroleum exported from the tnittu
States in 1891 was 6.73 cents gallon, as compared
with 152 cents "A gallon received in 1900 ana h,S
cents a gallon in 1899. The developments of the
oil pools al and near Beaumont, Tex. ana IN the
section surrounding Bakersfield. Cal. and the de.
veloprnents at Boulder. Col. have been the chief
causes Of the organization of ISIS oil stock com,
panies with a capitalization. acknowledged anu
estimated of 1868 0S3 600 in 1901. =.
New-York continued be the leading port Tor
the export of petroleum and it's products during
1901 OF the total amount shipped abroad. about
IS 66 per from that city 800 per cent
from Philadelphia, S.75 per cent from delaware
ports 375 per from Baltimore and less than
one-tenth Of per cent from Boston 1t Is estimated
that IS per cent of entire product OF crude pc
troleum produced in the United states hnds n
market abroad, Notwithstanding the high duties
that are Imposed by almost all countries. except
Great Britain upon all imports of our petroleum.
This fact seems to indicate that no other artlclaI
source of light replace petroleum in the mar
kets the world.