The New York herald., 1876-10-20
A PETROLEUM PLOT.
Facts Worthy the Consideration Of
Oil Consumers.
COMBINATION AGAINST THE TRADE.
Views of Several Business Men on the
Situation.


nation; the newspapers made. very justly, an attack
upon the corporations endeavoripg to control one OF
the necessares Of lfe and this combined effort OF the
guardians Of the people doubtless brought about the
dismemDorment OF the coal monopoly. The story is
frosh tha: needs repetition here. II heat is
necessary lie is light and any corporation or
monopoly that seeks cursa that prmorda blessing
dictate price II should be given to tho poor,
should receive the condemnation OF every conservator
of The peoples rightA News having reached the
HERALD that there such combination It entailed
tho necessity OF Investigation reporter visited
prominent dealer petroleum, whose Office is In Pearl
street. The gentleman Is producor rclner and
shipper OF OIL and gave the following facts for publca-
ton Tho present stagnation In tho export trade
n due to several causcs production OF crude oil has
fallen OF considerably since August, the bulk OF oil
being sent TO market from those wells producing from
Ten TO twenty y-nve barrels The men who have sold
thor oil TO the refners Of course, have to take any
price the latter agreo to give them, and this price Is
regulated oy the combination OF renners, led by the
Standard Oil Company About 80 600 barrels day
were produced prior to August since thcn tho supply
has decreased TO about 2s 900 barrels The producing
region shifts continually; It is in county,
In another To give Idea of tho state OF ship
ments the following statistics may be Of service; In
Act they give tho pipe ne reports in barrels for Sep
bomber, 1s76:-
Amount Of crude petroleum in the custody
OF said company at the close OF said month,
located in the tanks and pipes Of said COM
pany Ia Butler. Clarion and Armstrong
Amount Of crude petroleum Tor the delivery
OF which the company was liable at tho
close OF said month. o7,s4L7o
Gates. ......................... 5s 1887
Amount of crude petroleum received during
the month ending september 81, 1885,. 1904 01
Credit balances on books OF said company
september 80, 1876 s.....-.............. 1900 50
Outstanding certificates. II, 0O8 06
Total stocks in lines OF said company Sep
temoer So 1876, in Butler and Armstrong
Countles aOOut. ZS9UZ. 81
GRANT PIPE
Crude In the custody ot the company at
the close OF the month located in the
tanks OF the company IN Butler, Arm
strong and CLARION counties, for which the
company liable at the end OF tho
month. ......................... 7sssz so
Amount represented by outstanding vouch-
srs and orders. .............~.......... 2essoss
Credit balances. ST. 9S6 81
KARKs PIPE
Amount and location OF petroleum in the
tanks OF the Karns Pipe Line Company
september 30 l876:--ln tanks of the com.
pany al Harper Farm, Merstown, Karns
City, Petrolia, Campbelltown, Stone House,
billiards and Parker. cr..................... l6676 so
Less amount estimated, for water. 1000 90
Total in custody September 80. ..-...... 44,57e so
Amount OF liability represented by outstand-
ing Vouchers H. 523 25
VIeut Daianccs. S3 49a IS
Now, the records OF pipe lines give 4 fair idea
OF the trade but do entirely elucidats the si.ua-
ton. Some OF the railroads make arrang gemens with
the combination TO carry oil AZ price with which the
regular dealers cannot possibly compete The Now
York Central road for instance has tank ears tho
Erie road has the cars, but proper ar
engagements with them, while the Pennsy vania Rail-
road has a line the Empre) within iss own corpora
sion which has almost the solo monopoly OF tho oil
affair lies nutshell and that few men control tho
trade, with tho aid OF such capitalists as Pratt Dovos
Bostwick And others well known in the trade.
WE HAVE PETROLEUM MARKET.
the same as you have stock market, and our prices
60 up and down, on not perhaps the same srrassc
scale, but still, considering the bulk Of operations
much in the same style as in Wall street For In
stance our last reports show that tho market In oil
opened with SO 52 bid for United spot oil and IS 5sn
asked, the opening sales at irusvIlle being made al
the iattcr price For buyer ,-ck SO IS was freely
bid. without sellers and BUYERS OF sellers options
were plenty at about spot ?r,ccs perhaps SC be-
low. Some OF the bears oneriog TO sell large round
lots, had the effect OF producing weaker feeling.
Our correspondents continue to report shipmcna
being very duh and the export demand As inactive
account OF the great differences between crude and
refined W. the foreign S. traders not being willing 70 en-
exists between crude and refined OIL The quotations
at the last advces were about as follows s:-Crude in
bulk quoted at IL sc do, in shipping ORDER II 10
refined, cases, SOC 3lc naphtha ~ lac for city re-
fined at 26c Al Baltimore refined 26c at Phiadel-
phia refined at 26c. Oil City dull and weak with
S. ASK bid for United but buyers scarce; shipments
nominal Parker's dull and heavy; United offered at
IS 43k aud shipments offered at 50 So
Gallons
Exports Tor tho wcek... 2451, 664
Exports IRON January H.. 105 $780, 574
Exports same tme last year.. 107, ,o3l 200
In order TO give the HERALD some idea OF the com.
parative business transacted In this staple article or
commerce IL will only be necessary to give tho follow
Ing 6gures.-
1875 1874
Gallons Gaitous
From New York.. liz SSI, 425 no. 727 O39
From other ports........... 73.77S lis So 9s9 e46
Totals. 197 Got, ,gS5 1885, 659 5l3
Same time, 1874. 1875 459 30s
Dame tlme, lSU, 963 Svl
The situation in The foreign markets is becoming
decidedly interesting The following table, summarized
from 8 B. Guttentags Hamburg circular Of September
90 exhibits the total stocks, aoat and unloading at
the places named on the I'D OF September
1874 1876