THE TECHNOLOGIST. 



[Nov. 1, 1864. 



166 



THE PETROLEUM TRADE OF PENNSYLVANIA. 



BY MR. CONSUL KORTRIGHT. 



The petroleum of Pennsylvania has become a standard staple of 

 consumption and of exchange with foreign countries. In 1862, the 

 progress of the trade was very rapid, reaching an aggregate value of 

 8,198,000 dollars. Total value exported to foreign countries 3,183,917 

 dollars. In 1863, the quantity and value exported to foreign countries 

 rose to the great magnitude of 27,934,944 gallons, valued at 10,664,379 

 dollars, or more than three times the value of the exports of the previous 

 year. During the last year (1863), a greater portion was refined previous to 

 exportation, and the prices advanced also, which increased the value of 

 the exportations relatively to the year 1862. During the last part of 

 1863, petroleum was relied upon as the leading article for the creation of 

 exchange in Europe by the chief cities. In 1862, flour and grain were 

 the chief reliance. 



The fact that this new staple has, at this crisis of national affairs, 

 created exchange on Europe to the value of 2,000,000Z. sterling in a single 

 year, is one of national importance. The greater part of the value so 

 represented is a direct product of the country, costing less than the cost 

 of production of a crop, whether of grain or cotton. 



The production at the wells has been steady, increasing with the 

 increase of facilities for hauling and transporting the oil to the various 

 points of departure from the district. The increase of production 

 scarcely kept pace with the increase of exportation during the first half 

 of the year, or before the high prices of the summer had brought out the 

 best exertions of proprietors to deepen their wells and develop their full 

 capacity. In 1863 there was sent abroad : — 





Gallons. 



Value. 



From New York 

 „ Philadelphia . 

 „ Boston . 

 „ Baltimore 



Total . 



11,448,080 



3,746,211 



1,168,678 



693,000 



Dollars. 

 4.127,639 

 929,979 

 470,000 

 200,000 



17,055,969 



5,727,618 



The production of the year was for the firBt 6ix months at 5,800 

 barrels daily ; the three months next following, 8,000 ban-els daily ; and 

 that for the last quarter of the year at 5,800 barrels daily. The total 

 product for the year 1S63 at the wells is 2,286,000 barrels of crude oil. 

 Perhaps 3 per cent, of this i» loss and leakage in the immediate district 



