The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1915-11-21
OH AND GAS
Development
Of TR|-5TATE
Latest Reports Of 0bera tions In.
West Virginia, Pennsyl-
vania and Ohio.

y & 49,.
The hustle and hustle that attended
the hopes Of those who had visions of
town lot development in Butler coun-
ty has gone glimmering and with 1T
the hopes o THOSE who had visions Of
suddenly accommodating wealth. So
far as drilling on town lots there is
no longer any interest in that Kind
Of work, and the borough has again set
tied down to the routine of life such
as was characteristic before the boom
started. Instead Of groups Of men
standing on the corners discussing
the latest strike or the starting of new
wells, those who remain congregateI
in the hotel Hobbies and the topics
they debate, are not related tosthe Sc
curing OF a lease ror the probable re-
suit OF the next incoming We'll. The
streets are no longer cTewded Or
blockaded by. heavy loads j1 Ncachin-
cry or material going to 4. new laca-
ton. Laborera are not frantically
razing out houses or dwellings to make.
room for a rig. otherwise too small
to provide the necessary space for a.
standard drilling rig. No other town
lot development in the history of the!
industry presented such an Unsuitable
desire to drill on town lots and now
that 1t has become thing of the past,
balancing Of accounts shows that It
in no way differs from ether town lot
excitements. The loss far exceeds the
gain. Out Of all OF those who took a
chance not more than i've companies or
individuals who took part in the de-
yelopment work can figure out a profit.
During midsummer at a time when
the excitement was at high tide 1t was
amazing to see the reckless way in !
which work was going on. There was
at that time as many as q dozen wells
drilling or starting on space not
embracing more than an acre. Inside
of the borough limits there were no
fewer than fifty wells completed, drill
ing and under way. During those ex-
citing days a well informed writer
called attention to the fact and all in |
the face Of the fact that he would be |
dubbed a pessfmist and 'knocker."
At the time the result ofpreyious town
lot developme nts was recalled and the |
danger of repetition OF even greater
losses pointed out in the Evans Cityl
ventures. At this time it can be stat
ed that 2 Evans City beyond doubt
proved the greatest fiasco that was
ever perpetrateG-and that is going
some. Only those Who had acreage
made a profit by their investment. Had
there been q veritable reservoir Of oil
underlying the little borough the
drilling Of so many wells on SO small
space would not have been Justified. |
During the early days Of the excite.
ment many practical operators visited
the scene and shook their heads and
went away, saying they did not want
any of It even fit coould be had for
nothing and, the drilling could be done
for Confederate. money Many Of the
old time operators had witnessed Just
such an excitement. Some had had
their. fingers burnt and other profited
by the experience OF those who had
taken a chance and the prospects for
making d winning were even less than
those OF other days. with leading
operators standing aioof It IS matter
OF some wonderment to know where |
all OF the money came from and was
squandered In drilling on town lots
at Evans City. So far as could be |
learned no large amounts had been
lost by any one company or Individual.
The usual mode OF prdce ttf,e.Swas for
some one to secure q lease On b lot.
paying in most instances q nominal
bonus ana then sell interests In the |
we'll to be drilled The interests were
generally an eighth; sixt eenth or a
thirty ccnds Or even stiailet. BY