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
All “Old-Timers” remember the “Gentlemen’s Furnishing-House of John J.
Carter,” the finest establishment of the kind west of New York. Young
Carter, with a splendid military record, located at Titusville in the
summer of 1865, immediately after being mustered out of the service, and
engaged in mercantile pursuits ten years. Like other progressive men, he
took interests in the wild-cat ventures that made Pithole, Shamburg,
Petroleum Centre and Pleasantville famous. From large holdings in
Venango, Clarion and Forest he reaped a rich harvest. One tract of
four-thousand acres in Forest, purchased in 1886 and two-thirds of it
yet undrilled, he expects to hand down to his children as a proof of
their father’s business-foresight. He scanned the petroleum-horizon
around Pittsburg carefully and retained his investments in the middle
and upper fields. Taylorstown and McDonald, with their rivers of oil,
burst forth with the fury of a flood and disappeared. Sistersville, in
West Virginia, had given the trade a taste of its hidden treasures from
a few scattered wells. Much salt-water, little oil and deep drilling
discouraged operators. How to produce oil at a profit, with such
quantities of water to be pumped out, was the problem. Col. Carter
visited the scene, comprehended the situation, devised his plans and
bought huge blocks of the choicest territory before the oil-trade
thought Sistersville worth noticing. This bold stroke added to the value
of every well and lease in West Virginia, inspired the faltering with
courage and rewarded him magnificently. Advancing prices rendered the
princely yield of his scores of wells immensely profitable. Purchases
based on fifty-cent oil—the trade had small faith in the outcome—he sold
on the basis of dollar-fifty oil. Col. Carter is in the prime of
vigorous manhood, ready to explore new fields and surmount new
obstacles. He occupies a beautiful home, has a superb library, is a
thorough scholar and a convincing speaker. His recent argument before
the Ohio Legislature, in opposition to the proposed iniquitous tax on
crude-petroleum, was a masterpiece of effective, pungent, unanswerable
logic. None who admire a brave, manly, generous character will say that
his success is undeserved.
[Illustration: O. P. TAYLOR.]
Public-domain text, read in full here on John Shaqi.
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