New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-09
THE PETROLEUM MARKET.
NEw-YoRx. July 9.

Little news was received from the oil regions
lar weak and several new wells which had been
urom,cd for the latter part Of the week did not come In
because OF unexpected delays Of various Kinds ihey
will probably be opened this week Yet with all the
new work done In the districts where such
are all active. their rate OF production ID
not permanently increased. This is shown notably In
s vsek, report by smith Crosby. Of the Cooper and
,Ls nailtown districts which 10 as follows Cooper
we'll. producing 90; production, 1890 barrels day;
wels drilling IL rigs up and building To- ihe report
for the Bailtown tract folio Wa; wells producing
Oh: production, 2,l30 barrels; wells drihhg'e; rigs
mn and building IL. Compared with the previous week
here ia an Increase OF $50 barrels and OF Wells IN the
conner tract and OF $40 barrels with one adj
,,onai we'll in the Balltown district The net increase
m thu daily production OF the two districts Is only 100
barrels although there were four new weus but even
,,h mis- conditon of affairs Pipeline figures ind
c.fa a continued accumulation or STOCK al the Weis
h.r ia little doubt that the monthly report or the two
conpan,e, will show a considerable addition to The
ocLs and the high prices at which crude has ruled mas
a,ahlv led % an increase In the Pipeline cernh-
80 ,ssu.d or In other words, In the amount
of oil put into shape ior i"neu"'o
Darkctinr Tue Pipeline runs from July 10 D. inciu
x. werc o4I ISL barrels, daily average OF fS3|o
harres The deliveries for tho same time aggregated
oaa 40 barrels or an average OF 47s2o barrels day
The excess Of runs deliveries is PIE barrels or
40 harrea per day. on the average. The charters 10
Iuly represent i9s2e9 barrels or daily average OF
20 II barrels Tue total exports OF rsnned ahd crude
nr.un from the United States in May we're ahead OF
tho.. for the same month year ago, l00lAo'2 gallons
and ~ 2i319s The high price of crude oil since May
however seems TO have checked the export movement
since that time.
The reduction Of the "shor" interest referred 10 IN
argv Tp,RtrSs OF last Monday recorded It's eueot
,na, ina petroeum speculation last week wInou.
~ 10 sell market drooped from Si To-" ~
M ddrsning 10 81 l43s Tuesday night After tho
,,,dv On activity was developed that was accOmpa
ad nv dsclne to 81 1914 There wasfree selng9n tne
anc,ps but also considerable buying for specusNe
, ana sunclent the operations 20 iurnlsn ths
ha.is for a quick rally In tho nnal DEALINGS $50 70
SIs'1bSSt ilss The closing figure shows loss rom
nat Of the preceding week Of only 2's or more con
n.Yce Than the extent OF the final decline nowe,ea,
IL the fact that last weeks transactions s.
.snuiIy lauidaton IN the enecting OIL furner %
ton of stocks IN other hands tnan those o. inc v Is
,s that several weeks past the only rear
ae,syitS shown by tho market has rssu.su ,m ~
ioyveriuR Of prices. Tnat IS. sno H.,
Of acme extent still exsts Is probably true, ps
% ar ~ ca be used ofecting further anvsnce us
s mon the question whether Gales OF long cert'n
pstss viii meet any possible rise INC market eosoo
,Ih ,raders disposed 10 look for higher prices.
r of prices and the total deangs Tor the week
in New York were Ms fohowS'
~ NJ Pet corsEI