the refining of 75 per cent, of the whole, at $2 per barrel, of over $100,000,000. The stock of crude oil on hand at the wells, in December, 1875, was 3,550,207 barrels. The total export from the United States during 1875 was: Crude petroleum, 378,532 barrels (of 40 gallons each); refined, 5,086,785; naphtha, 344,978. The average price of these in New York has been, per gallon:
|Crude, in Bulk.||Refined, in Barrels.||Naphtha, in Barrels.|
Estimating the freight at $2.50 per barrel to the sea-board, and including the cost of refining and handling, Wrigley puts the total value of petroleum exported to foreign parts from Pennsylvania, since the beginning of the industry, at a minimum of $260,000,000.
In 1874 nearly 600 wells were drilled, producing an average of 50 barrels each; in 1875, about the same number, with an average of less than 25 barrels; and there were 3,125 producing-wells in Pennsylvania, January 1, 1876 (Stowell).
According to the rules of the New York Produce Exchange, crude petroleum shall be understood to be pure, natural oil, neither steamed nor treated, and free from water, sediment, or any adulteration, and of the gravity of 40° to 47° Beaumé. An allowance of one-half of one per cent, for every quarter of a degree above 47° gravity shall be made to the buyer. Refined petroleum shall be standard white or better, with a fire-test of 110° Fahr. or upward. Settlements of contracts shall be as follows: Barreled oil or naphtha, on a basis of forty-six gallons per barrel; refined oil, in bulk, forty-five gallons; crude oil, in bulk, forty gallons.
Dr. Chandler states that the average cost per hour of light equal to eight candles is as follows—the gas being sixteen-candle power, with a five-foot burner, the standard kerosene flashing at 115° Fahr., and the sperm-candles burning each 120 grains per hour:
|From sperm-candles, at 42 cents per pound||5.76||cents.|
|Gas, at $3 per 1,000 feet||0.75||"|
|Mineral sperm-oil, in German student-lamp, at 75 cents per gallon||0.57||"|
|""in Merrill's lamp||0.48||"|
|Astral oil, in flat-wick lamp, at 50 cents per gallon||0.46||"|
|""in German student-lamp||0.44||"|
|""in Merrill's lamp||0.34||"|
|Standard kerosene, in flat-wick lamp, at 40 cents per gallon||0.33||"|
|""in German student-lamp||0.31||"|
|""in Merrill's lamp||0.28||"|