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
of the taint of oil! He did not suspect that barrels of crude and
buckets of sand from other wells had been dumped into the hole at night,
that the engine had been disabled purposely and that another innocent
was soon to cut his wisdom-teeth! He found out when the well “came in
dry” that Justice Dogberry was not a greater ass and that the
fool-killer’s snickersnee was yearning for him. Possibly he might by
persistent drilling find paying wells and get back part of his money,
but nine times out of ten the investment was a total loss and the
disgusted victim quit the scene with a new interpretation of the
scriptural declaration: “I was a stranger and ye took me in.” Butler
anticipated Pithole when he wrote in Hudibras:
“Make fools believe in their foreseeing
Of things before they are in being;
To swallow gudgeons ere they’re catched,
And count their chickens ere they’re hatched.”
The methods of “turning an honest penny” varied to fit the case. To
“doctor” a well by dosing it with a load of oil was tame and
commonplace. In three instances wells sold at fancy prices were
connected by underground pipes with tanks of oil at a distance. When the
parties arrived to “time the well” the secret pipe was opened. The oil
ran into the tubing and pumped as though coming direct from the sand!
The deception was as perfect as the oleomargarine the Pennsylvania State
Board of Agriculture pronounced “dairy butter of superior quality!”
“Seeing is believing” and there was the oil. They had seen it pumping a
steady stream into the tank, timed it, gauged it, smelled it. The
demonstration was complete and the cash would be forked over, a
twenty-barrel well bringing a hundred-barrel price! A smart widow near
Pithole sold her farm at treble its value because of “surface
indications” she created by emptying a barrel of oil into a spring. The
farm proved good territory, much to the chagrin of the widow, who
roundly abused the purchasers for “cheatin’ a poor lone woman!” Selling
stock in companies that held lands, or interests in wells to be drilled
“near big gushers”—they might be eight or ten miles off—was not
infrequent. On the other hand, a very slight risk often brought an
immense return. Parties would pay five-hundred dollars for the refusal
of a tract of land and arrange with other parties to sink a well for a
small lease on the property. If the well succeeded, one acre would pay
the cost of the entire farm; if it failed, the holders of the option
forfeited the trifle that secured it and threw up the contract. It was
risking five-hundred dollars on the chance, not always very remote, of
gaining a half-million.
Public-domain text, read in full here on John Shaqi.
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