The New Oil Rush in Pennsylvania.
We extract the following from our late batch of American papers. It is evidently busi-ness-like, and shows the energy thrown into oil speculation by our American cousins. The “ Warren Mail ” says -“The Cherry Grove Oil Company, of Warren, has purchased twelve hundred acres of the richest oil territory in the celebrated Cherry Grove district, and contracted for the immediate boring of ten wells. This Company has a capital of 1,000,000 dollars, and will doubtless become at uu early day one of the heaviest producers in the. oil region. Frank H. Rockwell, formerly of Wayne county, is largely interested in its operations, and it is understood that a number of the most successful business men in Wayne county have also taken an interest in it. Meantime the city papers seem to have a special department for news from the Cherry Grove district, and announcements of “New Gushers opened,” and “Another 1200 barrel well flowing,” are of almost daily occurrence.”
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Poverty Bay Standard, Volume X, Issue 1216, 4 December 1882, Page 2
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164The New Oil Rush in Pennsylvania. Poverty Bay Standard, Volume X, Issue 1216, 4 December 1882, Page 2
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