PETROLEUM 373 



facture of wliale oil commenced to manufacture a paraflin oil 

 from cannel slate (called boghead mineral) imported from 

 Scotland. About this time small cjuantities of petroleum 

 were collected by Mr. J. D. Angier, on an island near the mouth 

 of Pine creek on Oil creek, Pa., about 1.^ miles below Titus- 

 ville, from pits arranged one above the other, and by others 

 who used blankets and temporary dams. 



On the 30th day of December, 1854, the Pennsylvania 

 Rock Oil company was organized, based upon the purchase 

 of 109 acres at the junction of Oil and Pine creeks, near Titus- 

 ville, Pa., and the certificates of incorporation filed at New 

 York city and Albany. In April, 1855, the elaborate and favor- 

 able report of Prof. B. Silliman, of Yale College, was made 

 public, adding largely to the prospective value of the original 

 company. The eastern capitalists hesitated to subscribe 

 for the stock, as they were uncertain whether a company under 

 the laws of New York could hold land in fee in Pennsylvania. 

 To overcome this difficulty a new company, which retained 

 the original title, increasing the capital stock to $300,000, was 

 organized under the laws of Connecticut, September 18, 1855. 

 A deed w^as executed to Ashel Pierpont and William A. Ives, 

 of New Haven, who gave bond for the value of the property 

 and promptly leased it for ninety nine years to the new com- 

 pany. 



On December 30, 1857, the property was leased to Edwin 

 E. Boditch and Edwin L. Drake, at a royalty of 5i cents per 

 gallon. This lease w^as superseded by another to the same 

 parties, fixing the royalty at 12 cents per gallon. Under the 

 terms of this lease the Seneca Oil company was formed, March 

 23, 1858, which drilled the first well in search of petroleum or 

 rock oil in the imderlying rocks, finding it in quantity in Au- 

 gust, 1859, at a depth of 69^ feet. The selection of thislocahty 

 was most fortunate, as nowhere else on Oil creek was petro- 

 leum found in quantity at so shallow a depth. 



In the year 1860 petroleum was found all along Oil creek 

 to its mouth; also at Henrj^s Bend, Tidioute, and Franklin 

 on the Allegheny river, and at Smiths Ferry on the Ohio river. 



During the )^ear 1861 there was an immense amount of 

 prospecting done, wherever any signs of oil were found, from 



