Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1903-01-24
THE OIL MARKET.


was showing for a light producer
as we went to press this afternoon
from the bottom of the salt sand.
In case this venture should prove
successful 1t will be the means OF
other wells being drilled In that
locality In the very near future, and
will give our neighbor village qaite
an oil boom. II is to be hoped 1t
will be a gusher.
Peasants Co., VIVA.
The cold weather precipitated an
unexpected shut down In nearly all
fields. As consequence, develop
ments were very light and for the
most part unimportant. Outside OF
defined limits there. Is little new
work starting. The demand for
new producing territory Is still
very great and when the weather
and roads will permit the search
will be renewed with greater energy
than In the year just closed. the
market Is 81 cents higher than at
this time yeas ago and of itself
| Is sufficient to inspire new work In
both old and new fields.
But Just at this time a slump OF
four cents In the price Of credit bal.
ances will have depressing effect.
and Is not calculated to encourage
wifdcat,ing against big odds.
Work In the surrounding fields
lags and nothing interesting has
developed since onr last report.
Quite a lot of new work has been
started on Green's and Long Run
by the big strikes recently made by
the Vespertine OH Co., on the Bills
farm.
Operations are less brisk In the
Big Knot fields, aud many have ar
rived at the conclusion that 1t has
about run Its course. No big wells
have been drilled there fol some
time. which would Indicate the
gusher pools have been drained.
Just at time when everything
was favorable to an advance In the
price of credit balances the uuex
pected happens as usual. The
South Peun this week 'ruug" In a
5000 barrel gusher In Harrison
county near Wallace The effect
of this unexpected gusher has al
ready been felt and may be far
reaching.
However that county Is noted for
Its freshness, and this strike may
not be followed by any similar In
producin capacity.
1t Is enough Of itself In our optn-
ion 10 force the market below
81 so.
Sarber Bros. & Co. Tuesday
struck nice we'll In the Keener
sand on the Maheny farm, Bond
creek region, Richie county. The
drill was sent into the sand a foot
and the hole Immediately filled up
with oil, but on account of having
no facilities for handling 1t, they
will not drill 1t until tomorrow.
This opens up an entirely new pay
streak paralelling the old Abbott
pool at distance of three quarters
Of a mile southeast.-St. Marys
Leader.
Richie Co., W. Va.
Saber Bros. company's we'll on
the John Mahaney farm on Bonds
creek was drilled In last Friday and
Is making $50 barrels dsy. B. w.
Bee, of this place, holds a royalty
on the adj joining farm.
One of the most peculiar and lu-
dicrous mistakes ever happening In
an oil field, has just occurred in the
McFarlan region, south of Cairo A
prominent Parkersburg man, Hon.
Henry S. Wilson, Is interested In It.
In fact, he is largely the beneficiary
party. Some time back James Hill
& CO. leased of w. W. Lawrence.
his land on McFarlan and proceed
ed to put down a we'll, as they sup
posed on 1t for oil. They'got fair
sized we'll. This, however, Is where
they played a great joke on them
selves. They missed the Lawrence
farm entirely and got over on the
land of Hon. Henry s. Wilson, of
Petersburg. In. other words the