New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-03-05
The PETROLEUM MARKET

NEW YORK. March 3.
The close OF last month found little changein the pero-
eun situation reflected in the only statistics avaa-
b IN the trade, from that of the preceding month I'm
official estimates continue 10 be made OF the production
and the cousumptlon which bring the two still closer
togcth,r There seems be doubt that the output
OF oil has been slightly the decrease within the last
fe months The old regions showing signs OF de
petion and the testing work going on has yet failed TO
develop new territory likely TO make mp the losses In tho
older dstricts Producers In tho mass, profess conf
dence In the situation which they say has not appeared
40 favorable for several years II Is even fashionable to
bettle the statistics OF the pipe lines as not gaugns
firmly the state OF the production and the demand The
smnluess deliveries 10y the pipe lines IL accounted
sor hx the assumption that the stocks being ORA
upon stored ut the seat GARD during he great
production OF last summer. when these nave been
,rdnced suiceny argued. the pipe lines will begin
Ia reflect AN IN their deliveries that VIII DrlnB
them closer TO the figures OF the runs from the well
The generally exists that Europe Is hold
ing back its orders that later the export trade
will receive sudden Impulse by their execution coi
PEELED by the actual needs OF foreign consumers. =.
That there Is force I'm these arguments must DC
conceded But how much that may DO Is practically
"A matter for ind yldual conjecture Iho Official reneo
ton Of the situation = not present snon as 70
any cxtravagant views OF the near future Inc PIPE
line receipts In February were reported AZ sum-,
barrels daily average, OF od:oo4 aI 9Ss bsrrnIs
-, January The deliveries In February were l,242o0O
barrels ae III, ssSres COR 200 barrels day in january
The daily average OF charters last month was 2oote
barrels, ss nrcs IT. may be estimated that the monthly
sa,@ments OF the pipe lines win show an accumulation In
Ecbpnary Of about 100000 barrels In the stocks. a
sghtIy smaller accumulation however, than was re-
Corded for January The development work last month
was little larger in January and with the opening
OF spring further increase possibly only sgnt may Dc
fooEed for me work. however presents nothing ike
the sctiyty that prevailed in the oil regions this time
| a year ago. .o.,o. trroc,,Iar anil pnsettled
ejaculation In pipe line certificates. decided gam
Was made from the previous week In point OF ucvlty
| the dealings at the New York Petroleum E1cnanges
Having nm increuse In the transactions OF 70l30O0
barrels The market htful from day TO day, ana
rces derived their occasional strength only from the
covering OF short contracts by the bears Tbs
influence sufficient on Tuesday to csusea sharp rally
IN Al 02ie after n weak opening at 072c But AFTER thht
the market dropped and without violent action by the
hear, Welded to % 96l The week closed with more
| weakness and n more active movement than nave
marked the dealings since the early upward reaction:
The total transactions In certificates for the week Nv
the three Petroleum Exchanges here were as follows:
| Barrels.
Petroleum Exchange. aSVov0
Petroleum Exchange.
SewYork Mining stock Exchange A4o1ooo
Total. '''