The total daily capacity for producing of all the wells at the date above named was 13,819 barrels. This is what the wells would produce when worked continuously under favorable circumstances. But, as it is only in rare instances that wells can be or are worked without stopping for any length of time, it necessarily follows that the capacity of wells is not a criterion of the production ; nor can any entirely reliable rule for ascertaining the product from the capacity of the wells be made, because the length of time which wells are worked steadily depends much on the weather, but more on the skill with which they are managed. Assuming, however, that the capacity of the wells during January remained the same as on the 1st of that month, and as the average daily product for January was 10,192 barrels, it is seen that the capacity was 3,669 barrels, or about one-third greater each day than the production.
The following is a recapitulation of the production since 1859 :
In 1859, 82,000 bbls. In 1860, 500,000 bbls. In 1861, 2,113,600 bbls,
In 1862, 3,056,606 bbls. In 1863, 2,611,359 obIs. In 1864, 2,116,182 bbls.
In 1865, 2,497,712 bbls. In 1866, 3,697,527 bbls. In 1867, 3,347,306 bbls.
In 1868, 3,715,741 bbls. Total production since 1859, 23,638,033 bbls.
The stock of Petroleum in the United States on January 1st, 1869, according to the closest estimates we have been able to obtain, was 780,000 barrels of Crude or its equivalent, against about 1,000,000 barrels at the next page