Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-09-27

rel within thirty days. Lard has adj
yanced five-eighths within the same
time. There is fully an advance OF one
cent in short rib sides. There is no i'm
provement in hams, either sugar, pickle
or smoked. All other articles connected
with this trade have advanced. Lard
oil has gone mp from FIVE to seven cents
per gallon for all grades. Beef hams
are out OF season, and cannot be said TO
have partaken of the advance. Stocks
are ample, of all kinds, for the season.
The advance has its basis in the general
prosperity OF the country. Prices had
fallen unusually low, and as soon as
business started up the demand began
TO increase. Spectators have also taken
hold and helped TO run prices up.
There are few, ifany, purely speculative
transactions at this point. The pres
ent prices are indicative OF those OF the
coming season, which begins on the LIST
of November. Prices will not rule as
low as last season. The stock will be
bought up quickly at advancing prices,
till the close. The low prices OF the
past have sent this product TO all quart
ers of the globe, and an increasing de-
mand will be the result each season I'M
Ill checked by too high prices. Some
persons think the advance only tempo
rarv, but the sales for future delivery,
new crop, have advanced fully as much
as the old stock.
CRUDE OIL.
This product has touched eighty-One
and quarter cents per barrel, while a
few days ago it was selling at slxty-tive
cents. One of the best informed men in
the trade-a gentleman who reasons
closely from cause to etiect-infOrms us
that he cannot see how any advance can
be maintained at present, in the lace OF
the enormous Over-prOduction. Last
month the production increased 5,OOO
barrels day. The present daily pro-
duct is now little over 10000 barrels.
While shipments abroad have been in
excess Of any previous year, there is no
evidence that the consumption has in
creased TO that extent. The suppOsitlon
is, that the oil is bought and held be-
cause it is cheap. The enormous stock
of 100000 barrels of crude above
ground, must act as a barrier against
anv speculative movement, and prevent
anv permanent advance at present. lt
is probable that in two months the for
eign exports will diminish very greatly,
and then there will come time OF dull
ness. All the indications point to de-
cline after the first OF November. Dur
ing October little or no oil is sold for de-
livery beyond that month, and 1t Is not
i n. = la A "
for delivery after the first OF No
vember. On the whole, then, there
seems to be no basis for this "spurt" in
oil-no reason in it. Oil is quite
different from iron in this es-
sential particular; iron is scarce, while
oil is overabundant. True, all these
coniectures may be falsifed ny the logic
of events, but this is the way 1t looks at
present. The average consumption Tor
the year will hot exceed 10000 barrels
per dav of crude, while the production
is 10000 barrels. There is probability
of very considerable increase in pro-
duction this month. Some persons
think there il a falling off in the old por-
tons OF the Bradford region, and that
there is a well defined limit TO the pro-
ducing territory; but this has not been
demonstrated by any means. Practi-
cally there is no limit to the product as
vet. There has never been region
which produced as much oil in the same
time. rs the Bradford district. There is
very little done now in Butler, Clarion
and Venango-l5,OO barrels per day
being the yield. The Mexican county
region produces $1,000 barrels day.