The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-10-01


culars showing that rock Oh had
been obtained In Allegheny county
at n depth OF 400 feet
lsb5. ON the SOth OF Dcccm-
tar 1854, the Pennsylvania Rock
Oh company was organized under
the laws Of the state Of New YORK,
and the certificate ot incOrpOra-
tlon died both at Albany and In
New York city
The objects for which said
company ~ formed. are to raise.
procure, manufacture aud SEN
rock oil. The capital STOCK SHAH
bo two hundred ana MY thou
suuo dollars The business shall
commence on the first dny of jan
unry, 1855, and continue fifty
years Tho land to DO developed
was tho 100 acres mentioned
above. The trustees named for
tho year 1865. were aA follows
George n. Bissell. j. q. Evcicth,
Franklin Reed. James A. sails
bury aud Dexter A. Hawkins, ot
New York. Francis -. brewer d
Titusyiio PA, ana Anaon bhoIdon
Of New Haven, Conn
Thus came into existence the first
company organized expressly to
prcgpcct for oil In Peunsyivauia.
.
I'd from tho ditohes had already
been sent TO Professor B. Silliman,
jr., OF Yale college, for analysis
aud when his favorable report was
made public In Aprn, 1865, ta) u
created a very favorable impression
among capitalists In tho oaStofn
states, but they hesltated to sub
scribe 20 the stock OF a company
organized under the laws OF New
York. Therefore a now COMPANY
Htill retaining the old title. but with
capital Of $500, 200 was Formed In
New Haven undor the laws OF Con
necticut, September rs. 1855. For
tunntely. Measrs lissell and Evelcth
had not recorded the deed OF con-
Vcyance 20 the old company, and
having now asccrtained that foreign
corporations could not hold land In
fec In Pennsylvania, they executed
"A deed 10 Asuhel Pierpont and VIII
liam A. Ives. OF New Haven, who
rave n bond for the value OF the
property and promptly leased IL ioi
% years, TO the new company
Tho members OF the new company
were inharmonious and but little
,,,as ACNE nj tho oil springs. In
cn,,hsv mr. Drower apeaks Of n
80, t,cneh from which Mr. Angler
,ant, stx yailona OF oil. although II
h1'd hocn VathcreA the day before
iIa ,iao snya from 10 90 100 gal
icns ner day may be had by tho ju-
dt,ions exnepditure OF $500"
,SEe In tho aummer OF this year
Ar pissnil' hsppentnx to notice one
~ Mr <ier'a circulars. as mentioned
ohavs' conceived the idea OF drilling
for oil al Titusvilie and consulted
Win Mr.. Eveleth, who favored the
projoct. Not being 40 situated tnat
they could undertake the expert
ment themselves. they mcnuoneu
{ the matter to Mr.. Havens or New
York. who became so favorapS in,
presscd that he offered them seVu
, In tiihy could secure him n lease OF
the property Of the Pennsylvanln
Rock oil company. Here, In par
] enthesis, we pause to notice that the
Z Oh lease bonus, now 30 comman, ev'
{ Identity ante-dates the first OIL Wen
After considerable delay tho tleas.
was obtained. Havens was required
to give i2 cents per gallon TOT al
the oil raised In 10 years, ana gwen
ono year TO commence operhtion-
In. lie did not comply with tne
terms: and on December ~ icoi
another lease was mada by the New
Haven directors. contrary 10 the
wishes OF the others to ". ~. bow-
ditch and II. J.. Drake, NJ royalty
OF 8 l-s cents per gallon, nut this
soon supplemented by another re-
storinE the royalty 90 10 cents and
extending the time to as years. on
this lease the Seneca OIL company
Was formed March 30, lSbS, which
haa the honor OF drilling the Drake
well, the first "wild cat" In the
Pennsylvania oil regions
,vEs Mr.. Drake. as auperinted-
an, ~, the seneca on company, ar
st,'.d On riuaviiIe early in MAY, 1858
stasSed nm Tho abandoned works OF
,,,e ou company. and commenced
10 cas, about FOR come one TO drill
~ Iii In Juiv no collected about
"a ,ai,ors ~ OF, per day from the
at,rhca IN August ne shipped two
harroIs 20 Ncw Haven. Failing to
a. ,,,o,, IN solid rock. ne had
sn,o,,,o~cea % buiid a drill house
srdo,ns an engine and engaged n
S,,,,er nynectInr to commence Dor
r. ,n scntember. nut the engine
- not reodv on time, hts funds
snt1od carve 20 hand and the
',, -" Pa ,o 90 no nostponed for the
~t,' ~"
Naeso To- ,rcb,,.ry Drake went
"T,os y,o,,,,,, ana engaged n driller
W. ,,o 80 ana comnence his we'll
~ 'n ,rc ,eyiectaa to- como