1438
Cleveland Morning Leader, 17 December 1864
(33 inches)
~ See original
p.2, col.2
~ View at ChronAm
1438 - L Dec. 17:2/2, 3 - In a letter to the editor, J. H. R. writes of his
trips through the oil fields. Excitement almost to the point of insanity.
reigns in Pennyslvania, especially in Meadville, Oil City, Franklin, and
Titusville. The disease "oil on the brain" is rapidly spreading. Some
have been lucky enough to realize handsomely on their investments. This
has been the means of stimulating tens of thousands into the belief that
they will be as fortunate. Petroleum interests in Pennsylvania are passing
through a period of speculation rather than a period of development. The
oil fever rages so high that many are tempted to buy lands without seeing
or really investigating them. Land laid out in water colored drawings,
with pumps and flowing wells carefully put down at appropriate distances,
are often very different from the land in reality, but eager speculators
have often invested their money in these water colored lands, which on exam-
ination, proved to be many miles from oil-producing territories. The oil
business is in its infancy and every day new discoveries are made as good
as the old. - (33)
Index terms:
Franklin, Pu.; Meadville, Pa.; *Oil City, Pa.; Pennsylvania; Titusville, Pa.