The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-14
NeNS of Important Happenings in Indiana
MUD FOLLOWS ICE IN
Baking OIL OPERATIONS
Weather Delays Work in Indiana
and Ohio Fields, While
Prices Are Declining.
RUSSIA is A BIG FACTOR
Special to the Indianapolis Journal.

Special to the indianapolis Journal.
TOLEDO, O., March 13-The oil trade is
up against a muddy proposition just now,
instead of zero weather. The roads. where
not macadamized, are impossible. While but
little drilling is being done just at the pres
ent time. many new rigs are building. and
the operators are busy putting their frozen
up leases in shape to produce the pent-
up product. after being dormant for several
weeks. The recent decline in the price of the
crude product does not make the average
operator very cheerful. as he cannot deter
mine the causes for a decline in price In
the Trenton rock and Eastern fields for
February more than half a million barrels
of crude oil were drawn from the surplus
stocks to meet the demand The Kansas
and Indian Territory fields are producing
less than 1000 barrels a day. The output of
the wells of Wyoming and Colorado is in
significant In Kentucky and Tennessee the
wells produce close TO $500 barrels a day.
Iaklng all the above fields combined, their
production is less than the shipments by a
clusively that the stocks of high-grade
crude are diminishing rapidly. The Cali
fornia fields have no effect whatever upon
the markets of oil, owing to the low-grade
crude. The outlook of the Texas field is
more alarming, the field at Batson Prai-
RE, in that State, is credited with a pro-
duction of nearly 100000 barrels a day. The
output of the Sour Lake field is Is 600 barrels
a day; Spindle Top, 49, 900 barrels; Saratoga,
1900 barrels, and Jennings, about 800 bar
rels, making a total daily production in
Texas alone of about 134, 200 barrels.
A portion of the oil found at Corsicana
and Batson Prairie is a fairly good grade
crude, but the balance is of a much lower
grade. The Texas oil, while it makes only
a small percentage CT the iluminant grade
makes a fine lubricant and fuel oil, there
fore working harm to the higher grade oils.
Reports are current that the cause of the
late decline in prices is due to the fact that
! the big concern has succeeded in buying up
hundreds of thousands of acres of the most
valuable oil lands in Russia, getting a big
concession, the country now in arms is
in sore need of financial help. If the rumor
is fact, then ii is the direct cause for the
decline, the markets of the entire world
will be under the command of one gigantic
concern. There is no doubt that Russia
has the greatest producers in the world, as
has been clearly demonstrated for years,
as their production up TO within a couple Of
years has been much greater than that of
the United States. With such as facts, the
price of crude oil will evidently be made by
one individual, and the world will have to
be satisfied.
During the last week there were 143 wells
completed In the Trenton rock oil fields of
Ohio and Indiana. But % of these wells
failed to strike oil, the balance showing a
production of 3,402 barrels for the first days
output. Ohio leads Indiana by three in COM
pleted wells, while Indiana leads in new
production by 654 barrels. The wells in
Ohio for the past week were distributed
among the counties follows: