oil-interests. Philadelphia alone had nine-hundred stock-companies. New York was a close second and over seven-hundred-million dollars were capitalized—on paper—for petroleum-speculations! The production of oil was a new and unprecedented business, subject to no known laws and constantly overturning theories that set limits to its expansion. There was no telling where flowing-wells, spouting thousands of dollars daily without expense to the owners, might be encountered. Stories of sudden fortunes, by the discovery of oil on lands otherwise valueless, pressed the button and the glut of paper-currency did the rest. Mr. Culver directed the management and employment of fifteen-million dollars in the spring of 1865! People literally begged him to handle their money, elected him to Congress and insisted that he invest their cash and bonds. The Reno Oil-Company included men of the highest personal and commercial standing. Preliminary tests satisfied the officers of the company that the block of land at Reno was valuable territory. They decided to operate it, to improve the town and build a railroad to Pithole, in order to command the trade of Oil Creek, Cherry Run and “the Magic City.” Oil City opposed the railroad strenuously, refusing a right-of-way and compelling the choice of a circuitous route, with difficult grades to climb and ugly ravines to span. At length a consolidation of competing interests was arranged, to be formally ratified on March twenty-ninth, 1866. Meanwhile rumors affecting the credit of the Culver banks were circulated. Disastrous floods, the close of the war and the amazing collapse of Pithole had checked speculation and impaired confidence in oil-values. Responsible parties wished to stock the Reno Company at five-million dollars and Mr. Culver was in Washington completing the railroad-negotiations which, in one week, would give him control of nearly a million. A run on his banks was started, the strain could not be borne and on March twenty-seventh, 1866, the failure of Culver, Penn & Co. was announced. The assets at cost largely exceeded the liabilities of four-million dollars, but the natural result of the suspension was to discredit everything with which the firm had been identified. The railroad-consolidation, confessedly advantageous to all concerned, was not confirmed and Reno stock was withheld from the market. While the creditors generally co-operated to protect the assets and adjust matters fairly, a few defeated measures looking to a safe deliverance. These short-sighted individuals sacrificed properties, instituted harassing prosecutions and precipitated a crisis that involved tremendous losses. Many a man standing on his brother’s neck claims to be looking up far into the sky watching for the Lord to come!