The Union times. [volume] (Union, S.C.) 1894-1918, 1903-01-09

concern has raised the price to stim>
u|ate produc ion.
Despite the fact that the number
of producing wells has multiplied
many times in the last few years the
big wells arc n thing Of the p,~t.
Although winter has hindere1 drill.
ing somewhat, ana made it miserable
work, yet with the increased pay of
the drlllers, the work will 90 on. as
there is still much unlrilled territory
yo; in the State,
FALLING SHORT.
The West Virginia field is filling
short, SO far AZ ligh- g,ade iIlumiua-
ting oil is concerned, and all eyes
are turned to The two States, Indiana
and OHIO, f,r that. class of oil now.
The coal strike has boomed the oil
market, and bronght out many ways
of burning oil feuI, which will result
IN the producers aud pipeline com-
pauies bidding oil out of reach Of
fuel purposes Every available rig
and String Of tools that can be man
ned is at work in the Alexandria,
Marion and Geneva (Indiana) fields,
but with them all going reserve stocks
will have to be drawn on for sup.
ply to meet the increased demand
for time, at least, and on the com
mon theory of supply and demand
Indiana oil may 20 to $1,25 per bar
rel before winter is over.
Expert oil men say that in Indl-
ana less than 100000 barrels Of
Indiana oil is in stock, unretined,
while in the last year the Indiana
field has contribute to the refneries
for imm cdiase use 2,705,270 barrels.
This mrans large amount of capital
brought into the State, and nearly
all of which has again been invested
by the operators for leases, strings of
tools, rigs and machinery, etc, for
the "ol habit" like the gambling G
habit, leads a man on with expecta-
tons untii tie either breaks the game
or is broken, and is rarely satisfied
to quit without moderated winnings.
ALEXANDRIA FIELDS.
In the Alcxandriarfold alone two
deals have been made recently
whereby an operator in each instance
closed out II lease for an enormous
sum, the two deals aggregating
$3.50, 900, which sum the seller at
once tied up in incw leases and ma
chinery with which to develop it.
The wages paid in Indiana the last
year and the royalties which the
farmers have received Gin most cases
one eighth of the gross product) have
reached the enormous sum of So
$50, 223.35, or an average per month
Of S605, Ill, which is divided among
not to exceed 10 counties, the three,
Madison, Grant and Adams, getting
the major portion, with Blackford,
Randolph, Delaware coming in for
quite sum each. This money goes
Tar, toward making up the general
prosperity of the country at large in
these sections, the farmer dividing it
between the merchants and substan-
tial improvements OH his farm, while
the dr.llers and oil well men them
selves are great spenders, and leave
trail of money wherever they go.
The cities have profted much by it
in many cases The farmers with
oil royalties have come to tos n to
live in state or else have put up sub
santial business blocks. Alexandria
has had "a dozen such cases within
the last year.
The shipments Of oil since Janu-
ary l, 1902, have reached 10.6l0,-
All barrels, for which has been paid
So, ,932, S91 81; this for Indiana alone.
This is the amount that the pipe
Tines have received for the oil, with
an additional 20 cents per barrel for
pipeage fees. This brings the total
receipts for. / months of last year
up to $1l, ,051 ,986.14.
LESS THAN HALF
This sum, large as it. appears, is less
than half the amount the refner gets
for the oil when it is put on the mar,
ket, in its various forms, which in
clude parafline, greases, gasoline, and
a dozen other >products, the ag
gregatc total value of which will al
most equal that of the main product,
refined petroleum of commerce.
The oil fields have almost become
worthless for farming purposes, being