The New Pittsburgh Owners

Ritchie, Hartjo & Co., often referred to as a group of Pittsburghers, now owned the Story Farm. They proceeded to survey it, laid out numbered lots in the flats for drilling purposes and leased some of these to interested parties. About twelve wells were drilled, but revenues suffered in the opening year due to the low price of oil in 1861 brought about by a few big strikes on Oil Creek which temporarily flooded the market and drove the price of a barrel of oil down to a worthless level.