| Show CANT BOKE BORE EM FAST fifty seven hundred new oil wells sunk sun k last year while there was little speculation in crude oil last list year all other branches had a veri veritable tible baom bom says the new N york herald in western pennsylvania vania western virginia and eastern ra ohio the search tor for new territory and the sinking of new now test wells progressed vigorously and of these tests or wildcat t wells ells and other wells th there e s were drilled 5 resulting in an n i increase of to barrels in production As against 1888 1883 the total number of wels completed shows an increase ol 01 but the results in the nay aay of discover dis discovering coved ing new now 1 prolific territory were surprisingly ll small so that it is doubtful if after all he work done in the field there is any more paying territory in eight now than at this date lait year and if the production ia to be materially iner increased cased the tile producers nj fiust redouble their efforts so plain sin is this that even t lie standard ard company has gone into the field RB as an bayr baytr I 1 territory and oil production in ane betat a abodd named the com peti ion hasteen has been so e keen that oil lands have advanced 25 per cent in the tile pennsylvania die tracts last year the total output of wells in I 1 ohio net t virginia a and wistern fe stern new york baj ai which bich was i as a it cons rame in increase crease over the previous pre year the daily average for january 1889 1881 was about and for december cember Da the ship n nis from the oil regions were 29 barrels these these figures ln uris are the largest in the history of the trade te tie re finers ners were ere fully tully employed during nioba of the tile year and the tile exports of refined illuminating oil lubricating and crude oil etc reached the enormous total of 67 gallons cal loos an e over 1888 of gallons in cule equivalent the increase was 3 m 0 beirels la in etrope to which the great bulk of the export was made there was no increase of stock of consequence but ia in eastern asiatic ports thera was vias undoubtedly a considerable increase in the visible supply as the exports thence were very heavy boavy broker gaorge II 11 lincoln nho ho does the greater pari par of the business busine ts in case Cage oil ays that no exact figures burt 8 of the lie indrea ie in the stocks in the far east are ail ie Is but it has been large sume some of tile exporters in it the case tride estimated the increase inc rewie at all the way from to producers and re finers a are re feeling jubilant over the immense increase i in consumption lon in 1880 1886 the total bonfe and corp foreign agn consumption 0 of the product of 01 pennsylvania and nearly portions of oher olier eta ej was barrels daily in 1887 barrels in but in 1889 it bounded op UP to to bairens daily in order to poly the tile demand it was wa necessary to draw on lie thel stock of 0 crude to the extent of barrels br rel leav lo ivine iniz on hand january 1 1889 but barrels or about four months supply the inferior oil of western ohio anil and no them thern adian lai not yet found its way into consumption largely but it has hasi nevertheless been extensively ten offered to consumers and lias hai made some inroads on the market for pennsylvania ol 01 in the home trade on the othor hand rusan lou competition petition in western europe seems to be dying out whether 1 from rom the einab lithot the tile russians to furnish a good article or on account of an agreement with re finers here it is difficult te pay na as yet but it is bo be lieveld that curb such an agreement has be been n made during the four months ending october 31 last there were exported sorted to western european ports but ut barrels 0 ru oil in the fame months there were exported from balcum cases to ports in eastern aria aela |
