"The pipe was successfully driven to the rock, thirty-six feet, and about the middle of August the drill was started. The drillers averaged about three feet a day, making slight 'indications' all the way down. Saturday afternoon, August 28, 1859, as Mr. Smith and his boys were about to quit for the day, the drill dropped into one of those crevices, common alike in oil and salt borings, a distance of about six inches, making a total depth of the whole well sixty-nine and one-half feet. They withdrew the tools, and all went home till Monday morning. On Sunday afternoon, however, 'Uncle Billy' went down to reconnoiter, and peering in he could see a fluid within eight or ten feet of the surface. He plugged one end of a bit of rain-water spout and let it down with a string, and drew it up filled with petroleum. "That night the news reached the village, and Drake when he came down next morning bright and early found the old man and his boys proudly guarding the spot, with several barrels of petroleum standing about. The pump was at once adjusted, and the well commenced producing at the rate of about twenty-five barrels a day. The news spread like a prairie fire, and the village was wild with excitement. The country people round about came pouring in to see the wonderful well. Mr. Watson jumped on a horse and hurried straightway to secure a lease of the spring on the McClintock farm, near the mouth of the creek. Mr. Bissell, who had made arrangements to be informed of the result by telegraph, bought up all the Pennsylvania oil-stock it was possible to get hold of, and four days afterwards was at the well." This memorable strike ushered in the petroleum era. It now only remained to develop this "bonanza." The condition of things on Oil Creek in 1865 is given as follows: "The surface of the whole country was saturated with oil from the leaking barrels, the overflow and enormous wastage from the wells before they could be got under control, and from the leakage and bursting of tanks. The peculiar odor of petroleum pervaded everything; the air for miles was fairly saturated with it; nothing else was thought of; nothing else was talked about. Land was sold at thousands of dollars per acre. Fortunes were made and lost in a day. Oil companies with high-sounding names were organized almost without number, absorbing millions of money; many companies were formed without the shadow of a basis for operations, and many persons who were as covetous as they were ignorant, were drawn into the maelstrom of speculative excitement and hopelessly ruined. No parallel in the history of speculation in this country can be found, excepting, perhaps, that which occurred during the 'California gold fever' of 1849." The Pennsylvania oil region and the Russian oil region are the two greatest centers of petroleum in the world. The latter has its center at Baku, on the Caspian Sea. The following interesting state of affairs at Baku in 1872 is given by Major Marsh: