Sketches in Crude-oil: Some accidents and incidents of the petroleum development in all parts of the globeMcLaurin, John J. (John James)
History
Sketches in Crude-oil: Some accidents and incidents of the petroleum development in all parts of the globe
McLaurin, John J. (John James)
Petroleum -- History; Petroleum industry and trade -- North America -- History
Edwin L. Drake, who is linked inseparably with the first oil-well in
Pennsylvania, was born on March eleventh, 1819, at Greenville, Greene
county, New York. His father, a farmer, moved to Vermont in 1825. At
eighteen Edwin left home to begin the struggle with the world. He was
night-clerk of a boat running between Buffalo and Detroit, worked one
year on a farm in the Wolverine state, clerked two years in a Michigan
hotel, returned east and clerked in a dry-goods store at New Haven,
clerked and married in New York, removed to Massachusetts, was
express-agent on the Boston & Albany railroad and resigned in 1849 to
become conductor on the New-York & New-Haven. His younger brother died
in the west and his wife at New Haven, in 1854, leaving one child. While
boarding at a hotel in New Haven he met James M. Townsend, who persuaded
him to draw his savings of two-hundred dollars from the bank and buy
stock of the Pennsylvania Rock-Oil-Company, his first connection with
the business that was to make him famous. Early in 1857 he married Miss
Laura Dow, sickness in the summer compelled him to cease punching
tickets and his memorable visit to Titusville followed in December. In
1860 he was elected justice-of-the-peace, an office worth
twenty-five-hundred dollars that year, because of the enormous number of
property-transfers to prepare and acknowledge. Buying oil on commission
for Shefflin Brothers, New York, swelled his income to five-thousand
dollars for a year or two. He also bought twenty-five acres of land from
Jonathan Watson, east of Martin street and through the center of which
Drake street now runs, for two-thousand dollars. Unable to meet the
mortgage given for part of the payment, he sold the block in 1863 to Dr.
A. D. Atkinson for twelve-thousand dollars. Forty times this sum would
not have bought it in 1867! With the profits of this transaction and his
savings for five years, in all about sixteen-thousand dollars, in the
summer of 1863 Colonel Drake left the oil-regions forever.
Public-domain text, read in full here on John Shaqi.
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