, 1870-12-12
TEE "CORnER" IN OIL.
The Gprcr nnn Nntiscr HlillstoneH-
Somebody 10 bc BADLY @qttcezcds
.~u sbS rjfusr{IS Ff<rrL


Somebody 10 be Badly %qstcezcds
F.nrn .hr ris--rftt< Nt.alI.
The tcp Of excitement in the on tTade
eipcc tire 1At Of the mGnth has bctn the ''cor.
ncr, n it IL cslled, On the unpes ro1d, ana We
arc leset with 20 mary inquiries fot me pH-
net il, 1Inv it was cffected, and eho arc tbs
bul1e, and whom tue Lears, We will attempt to
fret ut the eituh ion. The natural teNs are
tl,e bu.ers or dealers in oil, II they aim to
k+e., the price Of oil down. and the natural
bulls in the oil usiuess are the prodncsrs, ~
it ii to their iuttfcsts to have The Prlces up
rrrciarsd.
Early 10 tho year, ard. in fact. till within
month patt, The l.ears bAve BIZ. thA' tue pFlee
Of eli! " uld be lower; sud he bull. who, IN
tie Creek. eomnrite chi, as ihe p,os,nsess' % p, ss
They do rot cali It tott1ng. but selling eai
bp>ing ..eptiop.- At tho beginning Of the
s-as the beara commenced Offering to sell oil,
hus cre' ct1ion all the yeks, at SC pr barrel.
on Tho 60 .,s ihe oga ndee r., soad al
for over SC per laE1cl, on the upper roAd. any
time in 1870. Buyers option means that the
hnses can call for his any time in .hs year
The common tleage il to give ten dis6 nntice;
that ir. tho Keller ban ten days 10 deliver tue
oil after it IL callel for. The bulls took sever
ii thouta md barrels At &C, md, ~ tha yest au-
vsrced and the production lncrea,ed, which.
with the w1r in Europe, matariallF brought
down the price OF oil, tho Oeara gradually fell
| in their ur1cee on orfious from IS to s5.50.
| then to $3.50, E5.15, IS. Sa.i5, 5i.60, Il 90.
AID 10 On down to ~ foT as Sa-10, At which
acme was rolf la-t mouth, buyers option,
| upper road, ali the yetr. --
| There il no telling how many barrels rero
Eosd, for many Of the brvers, see'ng they we're
| caught md would lose. settled their contracts
by compromising and pating differences. IL
fact, most ali contracts calling Tor oil At
| and under have been settled Tho unsetfed
| contracts 10 this ''corner" arc represented to
call for come 2o0, 900 barrels Of oil, ranging
firm &c 10 a.
Tbs way this corner was brought about, IL
We uEdesstaEtl, was a. follows: List mouth
the purchasers ii sired aud offered to settle
ttelr contracts by paying differences bos"e.n
20 ard the contract price, WHICH, will readily
le eteu, was paying the bcars biz profit.
Tteso propositions. it il reported, the sellers
dcclinu Il to accept, demanding more:
| The buyeIs then fearing that the bears
would m.ripnlata the market 70 a. to run ths
| pilco Of oil down much lover 1t the end of tbs
agairat them Il the time the contracts e1-
rired, took the matter in their oFu bands.
formed a combination ly joining interests and
agreeing to chi Ct It Of action. Tilon, Afte1
securing contrn1 OF al the ilthev could. max
| ing Arrangements for cans, proyi1iog III TN
-elver u,tL fuudt to pay fer all tue oil thai
could be delivered to them. they uniteIly
msdo demand on Tie first Of tho n1uEth fol
all the OIL the coutrac:s called tor. the burert
all selecting Miller farm ~ therlace 10 receive
the eli, N king two tnnsred thon.an3 barrel:
to he delivered on boarl the cars at Mile,
| farm in en- days. -.
Ihi. ii the "cnrncE." The bulls claim thai
the H arr have not, anil cnnuot get bali Of tht
1 oil, ard it they have it, or can got it, it l.
itpt osaibie for them TO deliver halt OF tht
I they fail 10 deliver ip the specified tims the
:. bulls witl Eerudiate; ltclatisg tue coatrscts
s'on," ard will hate no dill -rences to pay
a, The present sssge Of the game, it il diff
, cult to tell which will be the winners. or t,
: what extent the msIket will be affected be
K fore tLa corner" will coma to : head, 2hicl
= will lie on the 10th. Thns far, the besrs har
a been able to give them the oil as fast as th
= cars can be filed. without Affecting the MaI
:. ket peTceo,ibly. Bat 81 they will ill all III
i cars possible, receiving the contr1ct price
n for Ill the oi! delivered, they vii. probAb,
| have to 70 into tho market to purchase sut
n p1v to keep on delivering. in WHICH case price
= will undoubtedly advance. This Ia thu goa
d time that the producers arc working and Ia!
i rpg back for. but it depends upon tt
n strength AID resources Ct the bulls, their b
"a iug atlo to furL teh care, etc-, whe,l.sr u
l. "cosner" will be carried thtongh snc .cssful
N or toi. On the o.ber taal, the bsars clA
y they have Ill The Gil that can be delivered
q The given time, TIM, they are not calie upt
!. to accomplish inlpossibitiee. ard, sa Lang
I
Ia liver the oil, they are entitlc 10 the 3D.
N tioIh time it may take fu1 the dciiverie
N This fully d+pic.s the situation f1ona An unl
10 arcd sssLlpoint. .-..
hs Il will 10 seen that it IS M ,maor.au. poi
Il with the bears to furnish the uil they ha
b. cold. bur, ~ il must be delivered on tho II
IN rcr road, thcv. of coarre, very na.,lra
m claim their right to brig Gil to the upE
nj roAt from any ono Of the princlnal l,oittts
n production, where thev may be anle to bus.
In il well known that The new Hi;koEy OIL ht
il, furnishes large amount OF oil Fer dag, -
n. also l,ulde considerable quantities in stol
Al Some Wet Ks ago the OIL Creek Railroad pu
Of li,he] very liberal scale Of oil frosghts III
he all points Ct tho creek to Tituesi'lc, name
In | Is celtr. It waA stated at tho tiue that 4
nj. was for tic beu. fit Of the TltusvI
~ 10, rearers, =. Oh, ra alleged that it '
at a rrrceedisg On this part Of the n
he road to Load cff the proauecta of
or nr~ rire Inc b. ing bull. from Hi:kor7 to
ii tusvillc. Tho beArs confidently Calculated
Tas filtg tbe;r orders for tho present calls fe
In purchases they misht make At Hickory. b.s
3o- tEcr calculz,lc1.s on \ fltteea cent fre;e,
,he On Friday Inst. the railroad company pus It
no tanI on oil from Viii Osks to Istusv
9Th hack where it was formerly, that il t, fo1
hasrtl cut Of tho bears for all the OIL Il
lite | night w,'s to hiring from thst polut 10
the tl.er Upper Crock ordci.. Tho t,eaes .
nv na5yt1t .eyereiy upon the managers Of
tri- rOAI, claiming fhst they are working III
me il ter. It CT one clique sud seslnst the iii G
odv If A,'nther Clique, and unsettlluS things {
Of .rz1ly.
me- As r,ll,!ic journalists re canu1t nudert
the to uhke ont ease !oF ei!hef OF lie Ptft
,bit That shr. nrc boil, in tight spot sni ri
ipg TO get ont with ~ lit,ls dauace ~ PC
,bcl Tic il tvt.ert- Each party will re-urt 10
Gu | cry e1ls4fcht fhtt 4rGonufS. tnc'ted ny
Iera great stakes 1t lhene. NIL WARRANT; a1d ID
ion | man hatu1e IL tue same on " C'eAk a.
hat MALI street. they may possibly make 9
ar;. ! turn thnt arc unusu H. II net unHsrr1nt,