The Barre daily times. (Barre, Vt.) 1897-1959, 1912-01-19

on the market, make the best snriaclng
material for maeadam roads.
The petroleum trade as whole mas
suffered Of late from two antagonlstic
conditions. First, there has been an
oversupply due to the sudden develop
ment of great fields first in one part OF
the country and then in another untii
confidence became shaken as to the pos
sibility of maintaining satisfactory
price. The condition has had an unla-
vorable effect on production in the older
settled districts which have passed the
gusher stage and yet are capable WIN
fair prices of maintaining reasonable
output for many years. Second, the
trade has been constantly handicapped
bv the fear lest the big producing dis
tricts should wane as rapidly as they
have waxed, and leave supply far be,
low the capacity of the huge Industrial
plants designed to utilize such verltaoie
floods of oil as have characterized late
years.
For two wears, however, discoveries
of oil fields OF great size have followed
one another so closely that doubt has
become conviction that the supply IS
abaundant for years. 1t cannot be de-
MED that the quality OF geologic deduc-
ton has so changed for the better,
thanks to more exact and intelligent
field Investigations, that the geologlst
estimates of the oil resources are now
more than generally accepted by the OIL
producers and users. The common eX-
preston, "Oil is everywhere" is a daily
exaggeration Of the idea that the oil
supply may be depended upon.
Growing Substitution of Oil for Coal.
For just about year the oil trade
has been developing under this new con-
viction of a sufficient oil supply, which
has especially affected the consumer.
The tendency TO substitute oil for coal
in many industrial establishments IS
growing rapidly. It is further tneour-
aged by the possibilities of still greater
economies by burning oil in internal
combustion engines. Its advantages long
known in the manufacture OF fine glass
are being Needed 1t has been adopted
by the navy and its use increases on the
railroads. Oil is being taken seriously.
During the year stocks in general have
declined except in California. In the
Appalachian field and in the mid-con-
tinent field they remained stationary.
In Illinois there are about q million
barrels in storage, compared with ~
million in 1910. The stock on the Pacific
coast is estimated at 40 million barrels,
compared with only SO million barrels at
the close of 1910 In neither year is ac-
IL Of nil
as has not been sold or even carefully
measured, but is chiefly contained in
open reservoirs.
General Rise in Prices.
In the Appalachian field the pipeline
price of $l30 barrel has prevailed
steadily throughout the year, at the
end of which the price of oil of Pennsyl-
vania grade was raised from Sl.30 to
SI.35 a barrel This is the first advance
i'm price since March. 1907 In Illinois
the changes have been as follows: At
the beginning of 1911, 90 cents barrel
was paid for light oil and 80 cents for
heavy OIL Light oil was raised on May
to SO cents and ON June Ia to 65 cents.
The heavy oil was raised to So cents on
May 2.
The mid -continent field began the year
with oil at AZ cents a barrel and on jan
uary the price was raised to "A cents.
On Nav 2 this was changed to AZ cents,
on June IA to 4s cents, and on September
Is to 50 cents.
In California the prices were held at
80 to IS cents, according to quality, with
higher prices for oils near the Los An
geles market.
improvements in Methods of Operation
In oil-well drilling, the most signifi-
cant advance has been in the increased
popularity of the rotary drilling method
and its adoption, with notifications, in
regions where the STANDARD rig" had
prevailed, especially in California. The
notifications include, chiefly, the install
lation OF costly but efficient combination
rigs where the plant contains a complete
system of standard tools and even its
own engine and boiler equipment ana
also complete rotary rig. Another
modification consists in the use of GER
tain patent rotary bits for drilling
through very hard, finty limestones, ce-
ments, etc As last resort these are all
temporarily set aside by the standard
rig, especially when powders are encoun-
! tered.
In oil storage large concrete reservoirs
have found favor in California.
In transportation the Use OF rifled
pipes and the practice of heating thick
oils while pumping have been extended
with good results.