Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1903-09-14


Mrs. M. Yost and others drilled IN
their No, S Mercy Wells Saturday
and have 80 barrel producer from
the Cow Run formation.
1000 barrels daily average de-
cline In runs of Pennsylvania oil and
2oco barrels daily average decline
In the runs OF Lima oil Is the pipe
line report for August. This Is a
most remarkable midsummer con.
dition when more drilling Is being
done than,ever known. $3.50 Is
price that will not prove profitable
for the continuance of operations
at the present high pressure and
further declines In stocks and runs,
especially the runs, may be looked
for. It Is the vast number of small
wells that can keep up production
at anything like present figures.
If Dan O'Day's bumpers will take
a day off and contemplate their
work of the past year and then hg-
ure up where they stand In the
financial column, they have made
little or no money. The oil refners
meaning the Standard and so called
Independents, are making the mon.
ey of which little share gets into
the accounts of the producers. In
the course of a few years there will
be little high grade oil In Pennsyl-
vania and West Virginia aud the
markets will have to be supplied
by inferior products. Prices for
Pennsylvania oil continue too low
and everybody except the Standard
OH company seems to have made
the same discovery. The gamblers
against natures resources as we'll
as Wall street, are taking the long
chances that sometimes bring
handsome returns. but for more
than two years they have been tax
Ing the same kind of chances with
very poor results.
The Standard Oh company know
what monkeys oil producers will
make of themselves on an occasion
al three cent jolly In the market
and they are always hoping that
some enterprising wlldcatter will
strike a rich pool to help them out
of a hole that is fast becoming
Alarming to- contemplate. Pro-
ducers are foolish to continue
to try to beat the Standard
At Its own game. Why not let
the Standard find Its oil for the
worlds markets for a time without
so much effort on the part of the
producer. As soon as oil Is brought
to the surface 1t gives the Standard
and Pure oil companies the right
TO con6scate 1t at their own prices
but under these conditions If 1t Is
stored In the ground 1t cannot be
flched from the owners of territory.
Would 1t not seem wise to pre-
serve oil territory under present
conditions until such time as the
Standard OIL company pirates dis
cover Its value and pay prices that
the situation warrants? The Pure
Oh company has ceased to be a
competitor of the Standards either
In the crude market or the export
markets, and except to the handful
of stockholders who are profting by
closely following Standard prices,
It's existence Is practically unknown,
The only way to obtain price that
conditions warrant Is to hang on to
territory, drill as little as possible
and let the Standard and Pure Oh
companies furnish their own supply
of crude. Bad weather, the greater
expense of winter operations, will
have a curtailing effect on oper-
atoms, but Dan O'Davs bumpers
could assist natures workings by
instituting sort of shut down
movement. When oil Is on top the
ground The Standard and Pure