History of Marietta and Washington County, Ohio, and representative citizens, Part 59

Author: Andrews, Martin Register, 1842-; Hathaway, Seymour J
Publication date: 1902
Publisher: Chicago : Biographical Pub. Co.
Number of Pages: 1490

USA > Ohio > Washington County > Marietta > History of Marietta and Washington County, Ohio, and representative citizens > Part 59

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OFFICERS.

\V. H. EBINGER. President

j. S. H. TORNER

Vice-President

S. L. ANGLE

. Cashier

H. J. HOFFER

Assistant Cashier

DIRECTORS.

W. H. EBINGER, WILLIAM WENDELL,

NELSON MOORE,

W. J. SPEER,

J'. A. MCCORMICK,

M. L. TRAVIS,

A. L. GRACEY,

W. E. DETLOR,

JOHN KAISER,

WILLIAM HARRINGTON.

J. S. H. TORNER,

RESOURCES.

Loans and discounts $273,792 II

U. S. bonds premium 25.688 II

Furniture and fixtures

6.762 23

Due from banks 32,704 91

Redemption fund 1,250 00

Cash

32.930 26

$373,127 62

LIABILITIES.

Capital stock $1001000 00

Surplus 10.500 00

Undivided profits

2,284 50

Circulation

25,000 00

Other liabilities 30.759 17

Deposits

204.583 95

$373.127 62

THIE DIME SAVINGS SOCIETY

Of Marietta was incorporated in 1871. J. L. Mills served as president until 1884, when he was succeeded by Jewett Palmer, who served until 1890, when Thomas Ewart was chosen; and in 1893 W. G. Way was elected, who is still the president. E. G. Brigham is vice-president. Charles H. Newton, a na- tive of Marietta, has been treasurer since 1877, except from February, 1879, to March 1881. At the latter date the deposits of the Society were $39,000. At the present time they are over $690,000.

The following is a list of the officers and a statement of the condition of the Society, December 7, 1901 :

W. G. WAY President

E. G. BRIGHAM Vice-President

CHARLES H. NEWTON Treasurer

TRUSTEES.

M. F. NOIL,

A. J. RICHARDS,

M. R. ANDREWS.

I. E. VAN DERVOORT,

CHARLES W. OTTO, HENRY WENDELKEN,

WILLIAM H. LORD, GEORGE. B. SUNDERLAND,

A. W. TOMPKINS,

JACOB SEYLER.

RESOURCES.

Loans on real estate $230,430 82

Loans on other stocks and bonds 5,000 00

U. S. bonds on hand 115,216 66

State bonds on hand 20,358 00

Other stocks and bonds 229,631 79

Real estate 23,414 88

Furniture and fixtures 1,530 00

Expenses 2,258 10

Cash on hand and due from banks 83,372 22

Total $711,212 47

413

AND REPRESENTATIVE CITIZENS.

LIABILITIES.

Individual deposits $692,228 33

Undivided profits

18,084 .

Due banks and bankers

none.

Other liabilities

none.

Total

$711,212 47

TIIE GERMAN SAVINGS, BUILDING & LOAN COMPANY.

(The German Bau Vercin No. I.)

The first building and loan company in this city was started at a called meeting, held at the Court House, on September 14, 1870, and was organized September 19, 1870, by selecting Henry Bohl. president ; Fred Blume, secretary; William Lorey, assistant secretary; and Martin Schmidt, treasurer.

The directors were: Jacob Mueller, Gott- lieb Meister, Philip Schramm, George Bach- mann, Henry Bahlman, Theobald Triem, Dan- iel Otterbein and B. E. Stoehr.

The first payments of dues were received October 3rd of the same year, at Otterbein's Hall on Ohio street; the business was con- ducted on the terminating plan, of which the fourth serial terminated was on October 19, 1896, and was succeeded by the present com- pany.

The German Savings, Building & Loan Company, which is conductetd on the perpet- ual plan, with a capital stock of $1,000,000, divided in 10,000 shares of $100, has assets of $305.000; loans on first mortgage of $300,- 000, and a surplus fund of $4.500, with 1,075 shareholders.

This company receives weekly payments and also issues paid-up stock certificates, which are in good demand.

The management is conservative, and the business comes unsolicited.

It is a source of congratulation to the offi- cers having charge of the business that dur- ing the 31 years since the time the company was organized, not a mortgage has been fore- closed and not a dollar has been lost to the stockholders. The present officers of the company are: Jacob Rech, president; John Lenz, vice-president ; John Bickert, treasurer ;

and Fred Blume, Sr .. secretary ( who was also the first secretary in 1870).

Directors: Jacob Rech, John Lenz, Hen- ry Blume, Jacob Gephart, Peter Grub, Charles Rech, Jolın Oesterle, William Geyer.

THE WASHINGTON COUNTY SAVINGS, LOAN & BUILDING COMPANY

Was organized April 10, 1890, with an authorized capital of $100,000. The capital has since been increased to $1,000,000. The assets of the company are about $465,000, which consist of first mortgages on real es- tate in Washington County, Ohio, and on the company's own stock. The company does not own any real estate. It loans money on first mortgage on real estate in Washington Coun- ty only, loaning from one-half to two-thirds the value of the property securing said loans.

Since the company was organized it has taken in from members over $1,300,000.

During the same time it has loaned over $850,000, and has never lost a dollar, and never foreclosed a mortgage. Fur- thermore, it has not a mortgage on its books that a careful investor would not be willing to take off its hands.

From January 1, 1891, to July I. 1901, the company paid its members $106,616.47 in dividends. The office of the company is in the Law Building on Putnam street.

OFFICERS.

D. R. ROOD . President

J. W. ATHEY

Vice-President

S. C. WILHELM Secretary

G. J. LEND Treasurer

J. P. WARD Attorney

DIRECTORS.

W. A. PATTERSON,

T. A. PLUMER,

W. E. HIL.I., J. W. ATHEY,

D. R. ROOD.

THE PIONEER CITY BUILDING & LOAN COM-

PANY

Was organized July 31, 1893. Thomas Ewart, A. L. Gracey, George Howell, Willis

4:4

HISTORY OF MARIETTA AND WASHINGTON COUNTY.

Morris and John Kaiser were the incorpora- tors. The company commenced with a cap- ital stock of $100,000, which has been in- creased from time to time to $2,000,000. The directors and officers, except the secretary and treasurer, have served without pay over eight years, and during all that time have not failed to have a quorum of the directors present for the transaction of business every Saturday night except one-during the 1898 flood. The company has not foreclosed a mortgage nor lost a dollar in any way. It is purely mutual and co-operative, all depositors being mem- bers and sharing in the profits pro rata, ac- cording to the amounts to their credit. It pays dividends on paid-up stock for the time the money remains with the company, irrespec- tive of the time of year it is placed with, or withdrawn from, it. The company now, for the first time, owns its own home, having re- cently purchased the building on Second street in which its office has been located dur- ing the past five years.

The present officers are: J. S. Simpson, president ; J. S. H. Torner, vice-president ; O. P. Hyde, secretary; O. P. Hyde, treas- urer; J. C. Brenan, attorney. J. S. Simp- son, N. Moore, A. L. Gracey, D. S. Boyle, W. H. H. Jett, J. M. Williams, S. J. Hatlı- away, J. S. H. Torner, and H. E. Smith, directors. The company's office is open for business on all business days, from 8 A. M. to 12 M., and from I P. M. to 5 P. M., and also Saturday evenings from 6 to 9 o'clock.

ASSETS.

Cash on hand $2.493 65

Internal revenue stamps

38 00

Loans on mortgage security

402.845 58

Loans on stock security

600 00

Furniture and fixtures 120 50

Due for insurance from borrowers 8 40

Real estate

15,000 00

$421.106 13

IIABILITIES.

Running stock and dividends, including

credits on mortgage loans $97,531 82

Paid-up stock 314,000 00

Borrowed money 5,000 00

Fund for contingent losses 4-574 3I

$421,106 13

TIIE PEOPLES BANKING & TRUST COMPANY.

D. A. BARTLETT . President

A. D. FOLLETT . Vice-President

GEORGE W. HORNE. Secretary and Treasurer

DIRECTORS.

D. A. BARTLETT, WILLIAM READER,

A. D. FOLLETT, JOHN JI. BECKER,

H. C. LORD, AV. J. CRAM,

W. R. GRIMES, P. J. DONNELLY,

M. M. ROSE.

EXECUTIVE COMMITTEE.

D. A. BARTLETT, W. J. CRAM,

H. C. LORD.

This company began business in the St. Clair Building on Putnam street, next to the Post Office, opposite the Washington County Court House, May 26, 1902.

Money is received on deposit, subject to check. Interest is paid on time deposits at the rate of three per cent per annum, if left six months; and four per cent. if left 12 months.

Loans are made on good personal, collat- eral or real estate security at current rates. The feature that lias, perhaps, proved most beneficial to the community is the loaning of money on real estate security.

In addition to the banking department, there are trust, safe-deposit and savings de- partments.

Besides these, there are in the county the Citizen's Bank of Beverly, organized in March, 1875, with E. S. McIntosh as president, and C. W. Reynolds, as cashier, and the more re- cently organized national banks of New Mata- moras and Lowell, all of which are elsewhere mentioned.

CHAPTER XVII.

THE OIL INDUSTRY.

THE HISTORY SINCE COW RUN-OPERATIONS IN EACH TOWNSHIP -- DRILLING- SHOOTING -- PUMPING-ACCIDENTS-OPERATION-LEASING- CAPITAL INVESTED IN WASHINGTON COUNTY-THE FUTURE PROSPECTS.

THE HISTORY SINCE COW RUN.

Less than a half century ago the oil terri- tory of Washington County comprised but a few farms, situated in the valley of a small stream, known to all oil men as Cow Run. The wells were drilled in the crudest manner, many of them by the old spring-pole method. The tools in use were so light that the "toolie" could easily carry them to a blacksmith shop half a mile away to have them repaired. And when oil was found it was barreled at the well and carted for miles over the roughest country roads to the Ohio River, where it was shipped to some Eastern market. The following, taken from an old notebook, will give some idea of the cost of marketing a barrel of crude oil :

Government tax

$1 00

Barrel

3 25

Teaming

I 25

Freight to New York

3 65

Warehouse

1 00

Leakage

Total

$10 40

Thus, it can be understood that even after many months of drilling. the dauntless opera- tor was yet in the same dilemma as the lirsh- man with his pig, which he headed for Cork to get to Dublin and declared it was much less trouble to raise than to get to market. Yet the possibilities of the business were so great that

it brought in the field men of the very high- est order of business ability ; 111011 whose motto was to act, and no matter what the difficulties were, no sooner were they dis covered than they were mastered. And by their efforts they have brought the crud- est industry to the most systematic and im- portant in our county.

OPERATIONS IN EACH TOWNSIIIP.

The producing territory has gradually ex- tended from Old Cow Run until it has reached almost every part of our county ; at least it is necessary to study it by townships to realize the extent of the developments.

By beginning at the northeast corner of the county we estimate the following producing leases :

Grandview 25 producing lease :.

'ndependence

Ludlow

Liberty

Lawrence

Newport

Aurelius

Salem

Fearing

Marietta

Adam- 30

Mu kingum

Warren

Waterford

Watertown

Barlow

416

HISTORY OF MARIETTA AND WASHINGTON COUNTY.

Dunham

0 producing leases.

Belpre

Palmer

Fairfield

Decatur

Wesley

Total

500

Thus, it can be seen that from a half-dozen farms with a very small area of production the industry has now extended to over 500 farms, with thousands of acres of developed terri- tory. But this could never have been done without vast improvements in drilling, shoot- ing and pumping the wells, as well as trans- porting the oil to market.

DRILLING.

The first improvement was the introduc- tion of steam power for drilling; then, as oil was found to exist at greater depth, we see the stately 80-foot derrick in the place of the pole derrick, and the small drilling tools have changed until now we find on the end of a 2,000-foot cable a 60-foot stem of two tons weight, with long stroke jars and heavy bit of 400 pounds weight, so that four good men can send the bit into the Berea sand at a depth of 2,000 feet in a month of. 30 days or even less.

SHOOTING.

Invention and skill in drilling has made it possible to find the oil-bearing rock, no mat- ter at what depth Nature may have hidden it. But many places where oil was found in the right formation, the pump failed to take it out in paying quantities, and some ingenious operator suggested "blast it with rock pow- der;" no sooner said than done, and the re- sults more than paid for the expense. If pow- der is good, nitro-glycerine will be better, un- til the shooting of a well is the rule, unless it should flow or show by some signs that it will pump 40 or 50 barrels per day, natur- ally.

Many wells that are now producing in pay- ing quantities would have been abandoned as dry holes 20 years ago, because when they

were first drilled in, they showed so little oil that they would not pay for the pumping. In some fields, wells are found that will not pump five barrels per day, naturally ; but after they are shot they will pump 50 barrels per day for months, and when they decrease again in their production a second shot will sometimes bring them back almost to their first production.

The glycerine is lowered into the well in long cans or "shells" as they are called, most- ly about eight feet long and containing about 20 quarts to the shell. Sometimes the shell is not filled full, but when the sandrock is very hard two or three shells are put in, and in extreme cases as much as 200 quarts have been used. Upon the last shell is placed a cap, and when everything is ready a piece of iron called the "go-devil" is dropped in the well; this explodes the cap, which in turn ex- plodes the glycerine.

Sometimes the glycerine is exploded by a jack-squib, which is a small shell filled with about a half a pint of glycreine and a time fuse attached ; this fuse is lighted and the shell dropped in the well. When the fuse burns to the glycerinie the explosion will follow. The last few years the electric shot has helped in the fact that in exploding the glycerine the casing was often so torn that it took many days to get the well in shape again, and sometimes it was destroyed entirely; but when an insu- lated wire is attached to the last shell, all the casing can be drawn from the well and the shot exploded by the electric spark, and then the casing can be put back again.

The force of the explosion seems to rend the rock for many feet around, and make crey- ices, all of which terminate in the shot hole; then when the well is pumped the oil from quite a distance around will continually fill up the shot hole and in this way keep a supply on hand all the time for the pump. Otherwise there would be so little in the shot hole that the pump could scarcely work.

PUMPING.

Next in importance to shooting wells is the modern method of rigging up and pumping

417

AND REPRESENTATH'E CITIZENS.

with the gas engine. In early times a boiler and engine were required at every well; a lit- tle later a boiler was placed in some conven- ient location and steam lines run to the engines that were left at each well, thus requiring an immense amount of fuel and labor to keep the wells pumping. And when a well got below five or six barrels per day the income would scarcely justify the expense.

Now, when a new lease is developed, a suitable location is selected for a gas engine and power house. A good 25-horsepower gas engine can be bought for less than $500, a double eccentric power engine for as much more, both of which should be placed upon as solid a foundation as possible. The work of placing the timbers, building the power-house and engine-house will be about $500 more. making the little plant cost about $1,500.

By means of swings, rod-lines can be run out from the power in every direction to wells on any ordinary lease of two or three hundred acres, so that as many as 75 wells have been pumped from one power. The fuel for the engine, of course, is gas taken direct from the casing head and conducted to the engine, and is exploded in the cylinder on opposite sides of the piston alternately.

The actual cost of the pumping expenses is reduced to a mere nominal sum: the gas oth- erwise would be a waste product. The amount required to run a 25-horsepower gas engine is scarcely more than that required to run an ordinary cooking stove, and the attention re- quired is so little that the leaseman can give his time to other work, as it is customary everywhere to go to the engine in the morn- ing and oil and start it, and it very seldom re- quires any further attention until time to shut it down in the evening: its mechanism is so simple that any ordinary person can learn its requirements in one week's time.

If a lease is already equipped and adjacent territory is found on which the wells are not over 600 feet deep and will produce one bar- rel a day of white sand oil, it will be a profit- able investment to drill for the same at the present price of oil, $1.30 per barrel. Or if 24

a lease of 50 wells has produced sufficient oil to pay for itself and then is making but one- half barrel per day, or even one fourth of a barrel per day, it is good property so long as the price of oil is above $t per barrel.

So it is certain that the little gas engine has brought into active and profitable operation territory that only a few years ago was of no value whatever.

ACCIDENTS.

Shooting wells is, of course, a very haz- ardous business; the shooter is in danger all the time; but probably the most accidents oc- cur at the time the shells are lowered in the well; if the well should flow while the shells are being lowered into it they will, of course. be thrown out quickly, and in falling to the derrick Hoor will explode, and very often be- fore the shooter can get far enough away to save his life. I was an eye-witness once when the shooter dropped a 20-quart shell into a well in which he had already lowered 20 quarts, and 20 more quarts were in cans on the derrick floor. The explosion followed very quickly and blew the casing out of the well. also the top of the derrick off, but did not explode the glycerine that was on the der- rick floor. As for the crew and shooter, how they ran 200 feet, while that shell was falling 600 feet, was a mystery, but they did, and no one was injured.

The most disastrous accident in our coun- ty was at Whipple, when a jack-squib was dropped in the well, and by some unexplained cause was thrown out upon the derrick floor ; when a number of bystanders went up to see the result of the shot, the squib exploded and killed seven of the party.

OPERATION.

.As soon as a tank is filled with oil a di- vision order is signed and sent to the Pitts- burg office and is as follows:

Marictta. O .- 12-1, 1901. To the Buckeye Pipe Line Company-MACKSBURG Division.

The undersigned certify and guarantee that they

418

HISTORY OF MARIETTA AND WASHINGTON COUNTY,

are the legal owners of Williams Farm Oil Co., Wells No. I and up, on Williams Farm. Marietta Township, ITashington County, State of Ohio, including the roy- alty interest, and until further notice you will credit all oil as per directions below.

CREDIT TO

DIVISION OF INTEREST.

POSTOFFICE ADDRESS.

A. J. Williams

Ig R. 1.

Marietta, Ohio.

J. C. Jones

1 W. I.

Marietta, Ohio.

J. E. Wilson

I/ W. I.

Marietta, Ohio.

James Parr

L W. I.

Elba, Ohio.

W. I. Johnson

11 W. I.

Reno, Ohio.

Pipe Line Tank Nos. 12,492.

The Buckeye Pipe Line Company-MACKSBURG DIVISION-is hereby authorized until further notice, to receive oil from wells for transportation for said parties severally in the proportions named, subject to the following conditions :

FIRST .- Payment of a transportation charge of 20 cents per barrel ; the point of delivery of said oil shall be at the option of The Buckeye Pipe Line Company within its MACKSBURG DIVISION.

SECOND .- The Buckeye Pipe Line Company shall charge storage at the close of each month on so much of the oil so received which shall have remained unde- livered from the preceding month, at the rate of 25 cents per day per thousand barrels, so long as the market price of oil certificate is below $1 per barrel; 30 cents per day when the market price is from $1 to $1.50 per harrel; and 40 cents per day when the market price is above $1.50 per barrel. No charge, however, to be made in the rate of storage on account of the price going above or below the price named, unless the market price remains above or below the specified point for thirty consecutive days.

THIRD .- The Buckeye Pipe Line Company shall deduct two per cent. from all oil received from wells into its custody on account of dirt and sediment, and in addition shall deduct one-twentieth of one per cent. for each degree of artificial heat above normal tem- perature to which said oil shall have been subjected, and oil shall be steamed as heretofore.

We agree in case of any adverse claim of title to furnish THE BUCKEYE PIPE LINE COMPANY satisfactory evidence of title,'or failing to do so, to furnish satisfactory indemnity, upon reasonable demand, against such adverse claim or claims, and that the said THE BUCKEYE PIPE LINE COMPANY may retain the oil until we do so, or until the dispute as to owner- ship is settled.

WITNESS :

Henry James,

H. C. Amm,

James Coulter,

Wilson Anderson, A. H. Mahle,

A. J. Williams, J. C. Jones, J. E. Wilson,

James Parr,

W. I. Johnson.

The wells of our county pump more or less salt water which comes in with the oil; the salt water necessitates running the oil into what is called "receiving tanks," where the salt water separates from the oil by gravity, and is drained off. The oil is then run into "stock tanks," of 100 to 250 barrels capacity.

When the oil gets into the stock tanks it is at market; although these stock tanks belong to the lease, and are situated upon it, yet they are controlled by the Standard Oil Company, if the oil is sold to them ( and they are the only buyers in our county at present). As soon as the tanks are erected the Standard Oil Com- pany connects them to their pipe line and locks the "stop-cock." The tank is then "strapped," that is, measured in circumference at every one-fourth inch in altitude, and these measurements are sent to the Bradford office, where charts are made of the tank, reducing the measurements in inches to barrels. One chart is kept in the office and a duplicate sent to the lease owners.

Then the gauger is notified, and he meas- ures the tank in altitude, turns the oil into the Standard's line and then takes the measure- ment again and gives a "run ticket" to the owner, which is a receipt for oil that has been taken. This "run ticket" is as follows:

THE BUCKEYE PIPE LINE COMPANY-Macksburg Division

Dist. No. 1 7

AUG. 21. 1901.

TEMPERATURE.

TICKET NO.

Cold

Degs

1413

Steamed

Degs

Smith, Talbott & Moore. Owners.

WELLS Nos.

3 to 5

Isaac Armstrong, Farm.

FT.

IN.

FT.

IN.

FT.

İN.

Tank No.

BEFORE.

12617

B. S.

WATER

Size

AFTER

100

Time.

Ist Meas. 9 A. M.

Wit-

ness.

W. P. Gage.

2d Meas. ? P. M.

OIL WELLS AT MOORE'S JUNCTION.

421

AND REPRESENTATIVE CITIZENS.

The same day the gauger telegraphs his runs to the Pittsburg office, where by refer- ence to the division order and chart, credit is given in barrels to the land owner, and also to all who have any interest in the property. The lease owner's interests are referred to as W. I. (working interest ) and the land owners R. I. (royalty interest ).

The next day after the oil is run into the pipe line, any one of the owners can sell his in- terest in the same by calling at the nearest home office. He will receive the price at which oil is selling the day he asks to sell. If he thinks oil will advance he can leave his oil in the line and sell at his pleasure.

The Standard Oil Company attempts to lay all lines that lead from a particular field, so that the oil from the many tanks will flow by the force of gravity to some central loca- tion. This place is selected after a careful study of the streams of the region, and here they erect a station, which, consists of thous- ands of barrels of tankage, and a large boiler house and pumps with power and capacity suf- ficient to send all oil collected one relay to- ward the seaboard.

Many stations must be passed before the oil reaches the large refineries of the East; but the oil that leaves Washington County, Ohio, on Monday can be delivered in Phila- delphia on the following Monday. But I would not have you believe that any such time is required for the delivery of an order for oil. As the lines are kept full all the time, a delivery can be begun almost before the click of the instrument that orders it dies away.

The amount of oil sent out of our county varies considerably from month to monthi, ow- ing to new wells that are liable to come in and increase the production for a few weeks at a time. But the yearly production for the last five years does not fluctuate so much.

For the year ending October 31. 1901, Washington County, Ohio, sent to market I,- 394,794 barrels of white sand oil, or a daily average of 3.874 barrels.

If this had been sold on October 31st, it would have brought into the county $1,813,-

225. Or if it was sold daily as it was pro- duced, it gave to our people $5,036 every time old "Sol" made his circle.

LEASING.

Oil properties are bought and sold on their daily productions. Usually a 10-day option is taken at an agreed price per barrel. The property is carefully gauged for the 10 days, and should it make 180 barrels in the Io days, the daily gauge would be 18 barrels, and if the option was at $1,000 per barrel, the price is then fixed at $18,000. This, of course, in- cludes all machinery, tankage and everything pertaining to the operating of the lease.

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History of Marietta and Washington County, Ohio, and representative citizens, Part 59

Author: Andrews, Martin Register, 1842-; Hathaway, Seymour J Publication date: 1902 Publisher: Chicago : Biographical Pub. Co. Number of Pages: 1490

Author: Andrews, Martin Register, 1842-; Hathaway, Seymour J
Publication date: 1902
Publisher: Chicago : Biographical Pub. Co.
Number of Pages: 1490