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
A native of New-York, born in 1822, Charles Hyde was fifteen when the
family settled on a farm two miles south of Titusville, now occupied by
the Octave Oil-Company. At twenty he engaged with his father and two
brothers, W. C. and E. B. Hyde, in merchandising, lumbering and the
manufacture of salts from ashes. In 1846 he assumed charge of the
lumber-mills John Titus sold the firm, originating the thrifty village
of Hydetown, four miles above Titusville. The Hydes frequently procured
oil from the “springs” on Oil Creek, selling it for medicine as early as
1840-1. From their Hydetown store Colonel Drake obtained some tools and
supplies Titusville could not furnish. Samuel Grandin, of Tidioute, in
the spring of 1860 induced Charles Hyde to buy a tenth-interest in the
Tidioute and Warren Oil-Company for one-thousand dollars. The company’s
first well, of which he heard on his way to Pittsburg with a raft, laid
the foundation of Hyde’s great fortune in petroleum. He organized the
Hydetown Oil-Company, which leased the McClintock farm, below
Rouseville, from Jonathan Watson and drilled a two-hundred-barrel well
in the summer of 1860. Mr. Hyde operated on the Clapp farm, south of
McClintock, and at different points on Oil Creek and the Allegheny
River. His gains from the Hyde & Egbert farm approximated two-millions.
Starting the Second National Bank of Titusville in 1865, he has always
been its president and chief stockholder. In 1869 he removed to
Plainfield, New Jersey, cultivating four-hundred acres of suburban land
and maintaining an elegant home.
Dr. Albert G. Egbert, born in Mercer county in 1828, belonged to a
family of eminent physicians, his grandfather, father, two uncles, three
brothers and one son practicing medicine. Predicating a future for oil
upon the Drake well, his good judgment displayed itself promptly.
Agreeing to purchase the Davison farm, which his modest income at
Cherrytree would not enable him to pay for, his sale of a half-interest
to Charles Hyde provided the money to meet the entire claim. After the
wonderful success of that investment the doctor located at Franklin. He
carried on oil-operations, farming and coal-mining and was always active
in advancing the general welfare. Elected to Congress against immense
odds, he served his district most capably, attending sedulously to his
official duties and doing admirable work on committees. In public and
private life he was enterprising and liberal, zealous for the right and
a helpful citizen. True to his convictions and professions, he never
turned his back to friend or foe. To the steady, masterful purpose of
men like Dr. Egbert the oil-industry owes its rapid strides and
commanding position as a commercial staple. His demise on March
twenty-eighth, 1896, severs another of the links that bind the eventful
past and the important present of petroleum. Early operators on Oil
Creek are reduced to a handful of men whose heads are white with the
snows no July sun can melt.
Public-domain text, read in full here on John Shaqi.
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