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 “Hub of Oildom.” Beautiful homes, first-class schools and
churches, spacious business-blocks, paved streets, four railroads,
electric-lights, water-works, pipe-line offices, strong banks, enormous
tube-works, huge refineries, bright newspapers, a paid fire-department,
all the modern conveniences and twelve-thousand clever people make Oil
City one of the busiest and most desirable towns in or out of
Pennsylvania.
The largest of twenty-five or thirty wells drilled around Walnut Bend,
six miles up the river, in 1860-65, was rated at two-hundred barrels.
Four miles farther, two miles north-east of the mouth of Pithole Creek,
John Henry settled on the north bank of the river in 1802. Henry’s Bend
perpetuates the name of this brave pioneer, who reared a large family
and died in 1858. The farm opposite Henry’s, at the crown of the bend,
Heydrick Brothers, of French Creek township, leased in the fall of 1859.
Jesse Heydrick organized the Wolverine Oil-Company, the second ever
formed to drill for petroleum. Thirty shares of stock constituted its
capital of ten-thousand-five-hundred dollars. The first well,
one-hundred-and-sixty feet deep, pumped only ten barrels a day, giving
Wolverine shares a violent chill. The second, also sunk in 1860, at
three-hundred feet flowed fifteen-hundred barrels! Beside this giant the
Drake well was a midget. The Allegheny had knocked out Oil Creek at a
stroke, the production of the Heydrick spouter doubling that of all the
others in the region put together. It was impossible to tank the oil,
which was run into a piece of low ground and formed a pond through which
yawl-boats were rowed fifty rods! By this means seven-hundred barrels a
day could be saved. At last the tubing was drawn, which decreased the
yield and rendered pumping necessary. The well flowed and pumped about
one-hundred-thousand barrels, doing eighty a day in 1864-5, when the
oldest producer in Venango county. It was a celebrity in its time and
proved immensely profitable. In December of 1862 Jesse Heydrick went to
Irvine, forty miles up the river, to float down a cargo of empty
barrels. Twenty-five miles from Irvine, on the way back, the river was
frozen from bank to bank. He sawed a channel a mile, ran the barrels to
the well, filled them, loaded them in a flat-boat and arrived at
Pittsburg on a cold Saturday before Christmas. Oil was scarce, the
zero-weather having prevented shipments, and he sold at thirteen dollars
a barrel. A thaw set in, the market was deluged with crude and in four
days the price dropped to two dollars! Stock-fluctuations had no
business in the game with petroleum.
Public-domain text, read in full here on John Shaqi.
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