Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1903-01-21
OIL DEvELO PMENTs.
THE OIL MARKET.

Lacy %
81
Reports from many localities an
nounce the fact that the supply OF
refined oil Is very limited and 10
some instances no oil is to be had.
The price for refined oil Is fixed at
from r. to Is cents per gallon and
the consumers where there Is no
competition are compelled to pay
even higher prices. All this further
demonstrates the inequality OF
values as fixed between the crude
product and the refined article. On
the present basis of price for ,ez-
port oil allowing the same proper
tion In marrying as are made when
ever the good Mr.. Rockefeller de-
cides to cut the price for the credit
balances of Dan O'Day's bumpers
the credit balance price should be
at least 10 cents per barrel higher
than 1t Is, and on the basis tor
which other refined products are
selling, the price for credit balances
should be at least $z so per barrel.
There has been an advance In the
price for Pennsylvania crude Of 81
cents per barrel, but that Is measly
allowance as compared with the
situation. The advance Is too
small and has been put off too long
to cause any extra effort to be made
In drilling operations. The tribute
demanded In nigh prices for all
kinds of material furnished by the
various trusts from the oil produc'
ers, an9 the low prices received for
their product has caused them to
become tired. There Is no en-.
enlargement even at present prices
to renew vigorous operations and
even were they so inclined produc-
ers find territory too scarce and I'M
certain to warrant the risk. The
efforts to boom Kentucky Territory
are being vigorously pushed by the
paid correspondents OF Standard
on company news papers, but
Il Is noticed that after the first
b pom and boost reports of wells In
that territory. they are seldom
heard Of again. 1t Is sometimes
salt water and sometimes some.
thing else that inteyferes with the
production, but they usually Tex.
pected to do better when they get
the pumps Inc" 1t was the same
old song regarding Beaumont
wells. They would be all right
when they got the pumps In
The large wells In Canadian terri
tory have fzzied out and are doing
no oil at al1but the Standard pa
pers don't mention that part of the
reports.
Ohio and Indiana cffer better In
ducements to oil producers than
West Virginia or Kentucky but the
great number who are going to
those States will find they have
the same conditions to contend
with. 1t Is extremely foolish for
Dan O'Day's bumpers to think for
one moment that they will ever be
paid prices justified In the markets
of the world" as was promised by
Joseph Seep just eight years ago,
Mr.. Seep being the mouthplece Of
his superiors who took that means
to blind the oil producers. No bet
ter prices will ever be paid than
those sufficient to lead Dan O'Day's
bumpers to believe that they can
beat the game by drilling.
The lash of the good Mr.. Rock.
efeller aud his associates will con.
tinus to crack over the backs of
Dan O'Day's bumpers and they
will be forced to take whatever
prices they are allowed for their
oil. Stocks Of Pennsylvania oil con .
tinue to be reduced and the demand
will continue to increase. The net
stocks are now below five million
barrels, that are only In part avail.