THE MINING AND QUARRY INDUSTRY I915 



47 



The range of prices within the period of the year has been from 

 $1.35 to $2.50 a barrel. In the early months of 1914 quotations 

 remained steady at $2.50. During the month of May there was a 

 vertical drop to $1.90 and by September they had reached $1.45 

 where they held to the close of that year. In January 191 5 Pennsyl- 

 vania and New York crude was quoted at $1.50. No change oc- 

 curred until April when the price dropped to $1.35. With the 

 month of August an upward trend began which carried the quota- 

 tions to $1.45, to $1.65 in September, $1.75 in October, $2.10 in 

 November and $2.25 in December. 



Owing to the discouraging outlook at the close of 1914, with 

 prices over $1 a barrel below the quotations at the beginning, there 

 was little enterprise manifested in exploratory work during the first 

 months of the new year. There were fewer wells drilled in 191 5 

 than had been reported for a number of years. The total, according 

 to the monthly compilations of the Oil City Derrick, was 108, as 

 compared with 267 in 1914, 512 in 1913, and 246 in 1912. The 

 increment of production from the new wells amounted to 122 bar- 

 rels, against 446 barrels in the preceding year, 810 barrels in 191 3 

 and 278 barrels in 1912. There were two dry wxlls reported, as 

 compared with 17 in 1915, 48 in 1913 and 66 in 1912. 



Production of petroleum in New York 



VALUE 



1896 

 1897 

 1898 

 1899 

 1900 

 I9OI 

 1902 

 1903 

 1904 



1905 

 1906 

 1907 

 1908 

 1909 

 I9IO 

 I9II 

 I912 



I913 

 I914 



I915 



420 653 

 005 736 

 098 284 



708 926 



759 501 

 460 000 



530 852 



849 135 



709 770 

 566 931 

 721 095 

 736 335 

 071 533 

 914 663 

 458 194 

 251 461 

 338 350 

 255 508 

 773 671 

 476 378 



