New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-23
TIE PETROLEUM MARKET.
NEW YORK, July 81.

NEW 1pHh, July
It would puzzle an expert TO reconcile the
unofficial reports and the various s,ed statistics OF the
oil trade and make diagnosis Of the statistical
situation as regards crude petroleum. Last week. for
instance the from the oil fields was favorable
the producer who seeks high Prices. No important
well came 10 flowing In fact several dry holes or small
producers developed In localities which had been
expected TO prove fertile and establish wider of
the OIL belt This has been the history OF the Cooper
ana the Baltown tracts for months past and they
are the only districts which have yet been
discovered that contribute anything material to repair
the wastage OF tho old rcgons But against what appears
TO constantly diminishing OF supply the stocks
OF crude oil keep accommodating. Recently this phase
OF the situation has been In most marked contrast TO the
earlier months OF the year The average excess OF re-
cepts Of OIL over deliveries by all the pps lines has risen
to 500 barrels Il day-a figure not equaled for many
weeks The statement TO cae indicates an increase Of
OF 100000 barrels since July J. and 1t Is
putting conseryatvciy say that certainly the
large addition month will BE- fully equaed in
July. The official reports are as follows:
Total bb,., Av'se per day
Runs 10 July 10 l53OOl GO,6si
Deliveries 10 July lD--..-..........-- Sl3SJ7 aSl75
E1ee.. run. 297,eat i2so;
Charters 10 July 2o......--.--.....- e2s6As 4if5l
The speculation IA United Pipe Limo certificates last
week was on an enormous scale. In Hew.YOrk alone
the transactions represented 900 barrels or only
5000 barrels short Of the entire net stock Of crude
OIL OF course large allowance must he made for room
trading, but nevertheless large speculative aud invest
meut accounts nGuidated. Up to Thursday the
sharp decline OF the preceding week its with
out much opposition. From 81 04a at tho opening. at
tended by great excitement, the market sold down TO
979sc on Wednesday aud again to 09c the following
day, after intermediate reaction OF few cents At
these figures there was large covering OF "short
contracts sales checked through the influence Of
the teegraphers' strike and the market was rallied
noisily 81 O6% Friday. The close was made. how
ever with extreme dulness in business and q sagging
OF TO 81 o. The market has been benefited by the
liquidation which has been mposed upon 1t, and Is
healthier than when syndicate aftidclay bolster
Ing prices no 81 20 II yet fails present evil
dence however OF any radical change in its character
The outlook for week Is complicated by the teeg
raphers' strike. That has already curtailed much Of
business In petroleum. aud lie
judge which speculative party Will be the most
benefited BY the Withholding alike OF orders buy and
to sell
Tue range OF prices and the total dealings for the
week at the New-York Petroleum Exchange were "a
follows:
N.Yrst Cons En-.
oVsS, s iSsss }i Ss.
LoWest-.-.--- ----.--..- W. vl's
f1nAl. lOf lO4
sales, DDls:; oi,<soUVo -4ou5.uOO
Cearances, barrels 4SSoOOOS 333Ol.OOO
The refined petroleum market continued extremely
dull, hut marked by decline OF ia sc. The
close was made with some recovery aud vita 1rmer
tone Last quotations were NewYork. ~ 73sc. per
II. - 49,