THE MINING AND QUARRY INDUSTRY IQI2 49 
may be explained rather by economic considerations than by the 
failure of the natural resources. 
As a matter of fact, the oil pools long since reached their max- 
imum capacity for production, but by continued redrilling of the 
proved territory the yield for the last two decades has been fairly 
well maintained. The oils are mostly of superior quality with 
a paraffin base, characteristic of the Appalachian fields, and bring 
the highest prices in the market, so that under normal conditions 
the industry is remunerative, even though the yield for each well 
is very small. 
The average output until recently has remained nearly constant 
at a little over a million barrels a year. Fluctuations have depended 
mostly upon the state of the market. A severe slump in the latter 
took place in 1910, the prices declining steadily from month to 
month until the reduction amounted to over 50 cents a barrel. This 
practically put an end to development work, and pumping operations 
at many of the less productive wells were stopped. The effects 
of this depression were noticeable to some extent in the returns 
made for the year 1911, but the full force of it became manifest 
in last year’s total. . 
With the falling off in yield which affected the Appalachian dis- 
tricts generally, prices began to strengthen and from: the low point 
of $1.35 a barrel in January advanced steadily throughout the 
remainder of the year, reaching the price of $2 a barrel at the 
close. This was higher than New York crude sold for previous to 
the decline of I9g10, so that development work should once more 
resume its normal course. An improvement in the productive in- 
dustry may be anticipated for the current year, unless conditions 
show a sudden reversal. 
The output of oil in the State during the last two decades is 
given in the accompanying table. The figures for the years 1893- 
1903 have been taken from the annual volumes of “ The Mineral 
Resources’ and those for the following years compiled from re- 
ports rendered by the pipe-line companies and shippers who operate 
in the State. The list of these companies is as follows: the Allegany 
Pipe Line Co., Columbia Pipe Line Co., Union Pipe Line Co., and 
Fords Brook Pipe Line Co., of Wellsville; Vacuum Oil Co., of - 
Rochester; New York Transit Co., of Olean; Emery Pipe Line 
Co., Kendall Refining Co., and Tide Water Pipe Co., Limited, of 
Bradford, Pa. 
