The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-12-31
THE PETROLEUM TRADE.
Meeting OF the Dealers Yesterdn "a Form
Of Contract Adopted.

Meeting OF the Denlers Yesterdny--A Form
Of Contract Adopted.
The representatives OF the petroleum trade or this
city held a special meeting yesterday afternoon nc
the Merchants Exchange No. so Pine street.
After the meeting had been called to order there
were but twenty-five persons prescntl the Chairman
stated the objects OF the special meeting, and re-
auested the committee to whom tue question OF o
form OF contract had been submitted at previous
meeting to make their report II they had any 70
make.
one of the members of the committee remarked
that he was sorry have 1t 70 say That the commit
teo had not been able to do anything OF Importance
IN at they hoped q short TIME TO pre-
sent report that would DO considered satisfactory.
Mr.. Meisner SAID the committee had hsd sort
OF conference with the representatives OF the trade
from PittsDurg, and that they he New Yorkers) had
had great deal OF difficulty in getting any kind or
concession from them. They were very determined
as TO certain things which the New Workers would
have been glad to have obtained. but they had to
content themselves with what terms they could get
The gentleman then road the form OF contract
which the committee had seen it to adopt. IL smp,
lays down the usual form Of an ordinary contract,
but differs from the old style In that 1t de-
cdes that petroleum should be sold by dealers
by weight and not by measure. 1t speeches 'petro-
Ieum made the United States, 80 as 10 distinguish
it om the Canada article, and provides that an In
specton OF the Oil be had at least three days after
delivery; that the weghors should be- appointed Dy
the sellers, who before being installed into
office should receive tue appreciation OF
the buyers; that inspectors certificate
would not be good Ave days alter date that II tae
buyer fnds that oil sold to INN or the first quality
is not what bought for the seller Ia TO make
the sale good; that certain specified time must be
made for sales and that sales can not be made at
ssel.ers opton'' Simply without specific date, and
that six ana half pounds should be considered the
regular rate To the gallon real tare
gentleman remarked that he could not approve
OF the form OF contract whole although II might
| satisfy the majority of the trade. lie objected 70
! that part which provided six anu half pounds as
| the weight TO the gallon. HIS corresponding IN
Marsellles had forwarded him letter III wllch Ihoy
advocated the adoption OF Six and tWo-tllfus, ana
the Marseiies Board OF Trade had issued circular
/ requesting thai six and tw0-tbirds should 10 the
| STANDARD.
! Another member stated that the renners objected
to the selling OF oil by weight instead OF by measures
\ as they had TO buy crude oil by tho gallon.
One OF the committee said that he did not see what
| difference it would make whether SIX and hall or
| six and two-tnirds were adopted. pound Was a
the oil In certain temperatures would have nothing
TO do with NJ Tor II &c number or pounds
sold the buyer would certainly have to get what he
barganed FOR, expansion or no expansion.
The form OF CONTRACT was then adopiel ana q COM
mIttee was appointed TO confer with the representa-
tlye5 OF the trade in Philadelphia, PittsDurg and
Cleveland as TO the best means 10 be adopted for
common form OF contract
on mOtIon the gentlemen present then formed
themselves into q Petroleum oil Association, and
after adjourned