Year: 1865

How the Value OF Petroleum was
Discovered.


The search for petroleum has become
such an extensive interest. and its use
has so suddenly and so generally become
matter of necessity, almost, in our
households, that the story of the first
discovery of its usefulness may be worth
repeating. In May, 1853, the country
was Mortified at the fearful accident at
Norwalk, by which passenger train
from New York was thrown from an
open drawbridge into the water, and
more than fifty lives were lost. The
conductor of the train was named Drake;
and fearful of the consequences to him
self for the negligence displayed in this
disaster, he left the country for safety,
and in his wanderings brought up finally
in India. Here he found petroleum
wells, and knowing the indications which
marked petroleum in India existed also
in Pennsylvania, from whence he came
originally, he concluded to venture back
and explore the region where these in
dications most prevailed. So he came
to Titusville, in Pennsylvania. Titus
vile was then a little hamlet, inhabited
by few hundred people engaged in
numbering. One firm, Brewer, Watson
& Co., were doing an extensive sawmill
business. Near their works spring of
water came out of hill, and with the
water came almost an equal quantity of
this vile-smelling product-oil. They
had found that, for the purpose of lubri-
eating their machinery, this was fully
as good as whale oil, and had constructed
a little tank to gather their supply, never
thinking but that its usefulness ended
there. To them Drake applied, and in
short order had pumping well, paying
the firm twelve and half cents a gallon
for the privilege Of working on their
ground. He worked diligently, and
others sunk wells in the neighborhood,
each producing as much as brakes
The consequence was that the market
was glutted, and the oil was selling at
eight cents a gallon, when it sold at all.
This was losing business to Mr.. Drake,
and he concluded that he cared nothing
for the trade. The more he pumped,
the poorer by four and half cents a
gallon he grew, and he gave it up. But
the article was now in the market and
attracting attention in all directions.
knowledge Of its usefulness was abroad
and growing. In little while after
Drake relinquished his improbable well,
the demand for oil began to increase,
and Messrs. Brewer, Watson & Co.
concluded to work it themselves. Having
something of favorable opinion Of the
article, they surmised that in time it
would be valuable; and for the purpose
of securing the district in the neighbor-
hood, they determined to buy the wild
land Of the regions round about. These
lands were owned by the Pennsylvania
Salt Company. an association formed for
the purpose of boring for salt in the
vicinity. Brewster, Watson s Co.
became the sole proprietors Of the lands.
Probably but few trades were ever made
wherein such perfect satisfaction ensued
on both sides. The holders Of the stock
were glad to get even a few cents for it,
and the purchasers were satisfied to buy
it for that but when the owners Of the
Pennsylvania Salt Company's stock
parted with their shares, they let for
tune slip through their fingers. If they
had held it until the oleaginous produc-
ton was developed, it would have made
every man of them rich. Such is the
plain, unyarnished tale of the origin of
petroleum mining. The enterprise Of
one man, Drake, brought it into notice,
but he, ike many another before him,
has seen the world made richer by his
work, while he remained in poverty
himself.