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
and went, Cooper threatened and subsided, and Balltown was bowled out.
Nine-tenths of the operators figured as heavy losers. Pennsylvania’s
production shrank from ninety-thousand barrels to sixty-thousand and a
healthy reaction set in. Petroleum-developments often presented
remarkable peculiarities, but the strangest of all was the readiness
with which speculators time and again fell a prey to the schemes of
Forest-Warren jobbers, whose “picture is turned to the wall.”
[Illustration: S. B. HUGHES.]
The professional “oil-scout” first became prominent at Cherry Grove. He
was neither an Indian fighter nor a Pinkerton detective, although
possessing the courage and sharpness of both. He combined a knowledge of
woodcraft and human-nature with keen discernment, acute judgment and
infinite patience. S. B. Hughes, J. C. Tennent, P. C. Boyle, J. C.
McMullen, Frank H. Taylor, Joseph Cappeau, James Emery and J. H. Rathbun
were captains in the good work of worrying and circumventing the
“mystery” men. Hughes rendered service that won the confidence of his
employers and brought him a competence. Never caught napping, for one
special feat he was said to have received ten-thousand dollars. It was
not uncommon for him and his comrades to keep their boots on a week at a
stretch, to snatch a nap under a tree or on a pile of casing, to creep
on all-fours inside the guard-lines and watch pale Luna wink merrily and
the bright stars twinkle while reclining on the damp ground to catch the
faintest sound from a mystified well. Boyle and Tennent made brilliant
plays in the campaign of 1882-3. Captain J. T. Jones, failing to get
correct information regarding “646,” lost heavily on long oil when the
Cherry-Grove gusher hypnotized the market and sent Tennent from Bradford
to size up the wells and the movements of those manipulating them.
Michael Murphy, learning that Grace & Dimick were quietly drilling a
wildcat-well on lot 646, smelled a large-sized rodent and concluded to
share in the sport. For one-hundred dollars an acre and one-eighth the
usufruct Horton, Crary & Co., the Sheffield tanners, sold him lot 619,
north-east of 646. Murphy had cut his eye-teeth as an importer—John S.
Davis was his partner—of oil-barrels, an exporter of crude and an
operator at Bradford. He pushed a well on the south-west corner of his
purchase and secured lands in the vicinity. Grace & Dimick held back
their well a month to tie up lots and complete arrangements regarding
the market. Everything was managed adroitly. The trade had not a glimmer
of suspicion that a bombshell might be fired at any moment. Murphy’s rig
burned down on May fifteenth, he was in Washington trying to close a
deed for another tract and “646” was put through the sand. On June
second Murphy’s No. 1, which he guarded strictly after rebuilding the
rig, flowed sixteen-hundred barrels. His No. 2, finished on July third,
flowed thirty-six-hundred barrels in twenty-four hours! The Mahoopany
Public-domain text, read in full here on John Shaqi.
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