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The following information is taken from the New York State Museum website:

"Hundreds of historic site markers were erected in the early part of the 20th Century to designate locations of cultural significance. These signs are usually recognized by their distinctive shape and blue and gold colors.

The signs were made of cast iron and if not regularly repainted begin to deteriorate. Many need only a fresh coat of paint to be restored to their original condition. Others may be so rusted or damaged as to require substantial restoration and repair.

Funding for maintenance of State Historic Markers was not provided in the original legislation, which expired decades ago. Traditionally landowners on whose property markers stand have maintained them. Sometimes local civic or historic organizations have taken this on as a public service project. But increasingly there is interest in restoring individual markers that have not been included in these projects in the past."

Also, from the same website the following Markers located in Allegany County are reported:
GENESEE VALLEY - ALLEGANY REGION
Genesee meant "beautiful valley" to the Seneca Indians, the zealous "keepers of the western door" of the Iroquois Nation. At Caneadea, "where the heavens lean upon the earth," was a Council House, or headquarters. The Senecas relinquished their rights to the area by the Big Tree Treaty 1797 when land speculators acquired a large part of the productive valley.
The Genesee Country, sparsely settled until after the War of 1812, was a promised land for farmers migrating from Pennsylvania and southern New England. They made it a great grain producing section of the State. Lumbering was also an important occupation. The area later became famous for producing cheese. Valley towns boomed during construction of the Genesee Valley Canal. Begun in 1837, the canal was completed in 1857. It connected the Allegheny River, near Olean, with the Erie Canal at Rochester. It was abandoned in 1878 and, later, a railroad followed much of the canal's route.
Nearby at Cuba Reservation is the Seneca Oil Spring. Discovered by a French missionary in 1627, it was the first to be recorded on this continent. Oil and natural gas are still produced, but dairy production and livestock raising are now major economic activities.
#3 - New York 19, north of Belfast
(relocated to I-86/NYS Route 17/Southern Tier Expressway at the rest area between Friendship and Belvidere, eastbound) 
THIS IS OIL COUNTRY
The presence of oil in this area of the Allegheny foothills has been known by white men since 1627, when a French missionary reported that the Indians used "a good kind of oil" for medicinal purposes from the nearby Seneca Oil Spring. Production began in 1879 and reached a peak of more than five million barrels a year by 1885. Then decline began until only 750 thousand barrels were marketed in 1913. After the introduction of the "flooding" technique - forcing the oil up out of the well by water pressure - production rose steadily.
The oil produced here is only a small share of the total national petroleum product, but it is so superior in lubricant quality that it always brings top prices. Oil and natural gas are still produced, but dairying and livestock raising have taken over as the major activities.
#4 - Route 17, eastbound, east of Jamestown, near Randolph
(relocated to Bolivar Oil Museum on West Main Street, Village of Bolivar). 
Another query brought the following 4 Items:


These results are formatted to show the text in the same format as the marker.

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County: ALLEGANY
Town: ALMA, TOWN OF

TRIANGLE NO. 1
FIRST OIL WELL DRILLED
IN ALLEGANY COUNTY
DRILLED BY
O.P. TAYLOR
1879
Location: ON TOWN ROAD ABOUT 1/4 MI. SOUTHWEST OF PETROLIA

NOTE :  The sign and well are actually located in the Town of Scio, just a couple hundred feet from the line of Town of Alma....Ronald G. Taylor, Alma Town Historian/2011.

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County: ALLEGANY
Town: BURNS, TOWN OF

FIRST HOUSE
IN CANASERAGA
BUILT ON THIS SITE
BY SAMUEL BOYLAN
IN 1806

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Location: ON MILL STREET IN CANASERAGA
SITE OF
FIRST
SCHOOL HOUSE
IN TOWN OF BURNS
ERECTED 1810
DAVID CROOK, FIRST TEACHER
Location: ON NYS 70 ABOUT 1/2 MILE WEST OF CANASERAGA

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County: ALLEGANY
Town: CUBA, TOWN OF

CUBA LAKE
SUMMIT LEVEL FEEDER FOR
OLD GENESEE VALLEY CANAL,
FORMED, 1856, BY BUILDING
A 60 FOOT DAM ACROSS THE
STREAM CALLED OIL CREEK
Location: ON NYS 305 ABOUT 1 MILE NORTH OF VILLAGE OF CUBA

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