The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-07-12

tor the entire third quarter $1,000 bar.
rels per day, which estimate Is as high as
II can, with any degree Of certainty, be
placed. II would not be safe to pct the
average for the last quarter above 81, 900
barrels per day, making IN average Of
$4,000 barrels per day for the last six
months, or total average for the year Of
81, 400 barrels per day. This estimate Is,
Of course, contingent upon the price Of
the staple being kept below s. per barre,
at which figure there might be increased
development and stimulus to increase
the production, or at least prevent It's de-
cline.
"Some months ago our estimate for tue
demand Of the year was $4,000 barrels
per day, but from the extraordinary large
export trade, and demand for home con.
sumption, we feel compelled TO say this
was an underestimate Of about 1000 bar.
rels per day, and the world will take this
year not less than $1,000 barrels crude
equivalent per day OF our staple. This
will require demand from the stocks OF
about 5000 barrels per day, or total for
the year approximating 100000 barrels.
Statistics placed the stocks on hand in the
region January !, 1877, at 100000 bar
reIs at the highest, and II requires no
deep penetration to forecast the probable
result Of such contingency "a reducing
the stocks by January l, 1878, to zoe, 900
barrels. The above estimate OF the
daily average demand for the year
may by some be regarded as too high.
They argue that the heavy export de-
mand for May and June will he followed
by falling of during the approaching
busy season. This may possibly happen,
but the indications are all directly to the
contrary. The conditions are 30 we'll
known that they will hardly fail to ena.
BILE us 10 form shrewd guess as to the
fHfGfe-During the past two months the
export demand has steadily increased,
showing in April an increase over the
same time last year Of about 20 per cent,
which is about the ordinary increase that
has heretofore taken place from one year
to the other. From that date, however,
this percentage has gradually increased
up to present writing, until now it stands
50 per cent more than at the same period
in 1876. This occurring before the com.
mencement OF the busy season, coupled
with the fact that the stocks in Europe
have not been materially increased, leaves
but little room for doubt that still great.
er percentage Of increase is inevitable.
The daily exports and immense charters
are now larger than ever before. The in.
crease thus far, if itshould only be main.
tanned, would show an average export de.
mand for the year OF 32,500 barrels per
day. On the other hand, should the per-
centage Of increase OF exports over last
year decline from so to 80 per cent il
would still show an export demand OF
$4,000 barrels per day for the year, re-
Quiring the home demand to reach only
5000 barrels Of crude equivalent per
day to make the total demand for the year
81, 900 barrels per day. While few would
place the home demand at any less figure
than this, many Of the best informed sta
tisticians place it much higher. In glanc-
ing over the list Of exports for the first
half Of the year, it will be observed that
the enormous increase has gone, not into
the five principal parts Of Europe, but
into comparatively new channels.
"For instance China and the East In-
dies have this year taken 4,5l403i gal
Ions, against l,l75,594 gallons last year;
Brazil 2,OS5, ,S05 gallons, against l .393, 1927
gallons last year; Chilli 29O,l5O gallons,
against 40,583 gallons last year; Syria
632, $50 gallons, against l3l 1903 gallons
last year; Triest ., 40, 1859 gallons, against
35l.777 gallons last year; Genoa l,507,.
357 gallons, against G55,773 gallons last
year; Gibraltar and Malta 3,07O949 gal
Ions, against 737,SO9 gallons last year;
Dutch East Indies 7,O5S,sOO gallons,
against 2,79S,9S0 gallons last year. These
and many other facts which might be
stated give an impulse to the belief that
grand stride will be made in the year
1877 unparalleled in the previous history
Of the petroleum trade"