New-York tribune., 1883-06-18
THE PETROLEUM MARKET

NEw-IOhK, June LIZ
For the first time in several weeks the news
from the oil regions received attention '
general traders in Pipe Line certificates last week D
ing the advance from 81 to 81 "a the "bu urore was
so great and the market strongly held py tne
leading specuators that 1t matter OF indlnerenee
TO operators whether wells in dry or good poduc
ers. Sole reliance placed upon the promises Oh hiSn
er prices, which we're, up TO certain point a"ays IT,
deemed Perhaps the renewed attention gwen 10
ports from the fields results not alone from the rregu
larity developed by prices, but also nom
the unexpected increase in the stocks Oh
oil shown by last months report But the news on tne
whole, last week furnished occasion for serious
ALARM None OF the wells reported were Important
In the way OF opening territory or in indicating
greater fertility In the Cooper and the Batowh racIs
The report OF the condition of Affairs In these two DIS
tries, up to Saturday. was rather favorable FROM
seventeen producing wells the last of the Batown
district showed an output OF 1850 barrels day. ten
wells are drilling and five rigs The Cooper dis
trcJ production was 4,150 barrels from eighty-tWo
producing wells twenty-five wells are drilling ana
fourteen rigs are up. These figures DO not include tho
Grandin No o. and the Anchor, No. 10. wells, respee-
lively. in the Bsltown and Cooper districts; whlen
are good for several hundred barrels day
uins i9rger than the deiiveres as win DC by the
following table (the figures being given IN DarrcsE
Total bbls. Av. per DAY;
deliveries 10 JunelI. S4I7l3 bOoOI
x,x.o.. r,r. - B5s67 $3.50
C1,orters to lime & ---.-..-..... 7369I2 49,l9O
Although the fluctuations of prices last week were
within narrower limits than in the previous week tue
market marked by any favorable feature unIess
cousolaiou be taken from the absence OF break But
there .was at times, decided nervousness, ana lt
more than probable that without prompt and subssn-
tai support stampedes 60 sell would have occurred IGo
bulls st have sufficient control to he able to supply
any needed support and prices last week were not al
lowed 10 fall below 81 1884, In addition to the stopping
OF any menacng decline tho market was also cnaraeter
Ized 6y occasional spurts which temporarily promised
a movement upward At ono time prices were carried
10 81 2O3s But these rallies were deceptive In their
nature an the market closed without character ag
II 1913 against 81 1873 the week previous IAe total
sales IN New-Y0rK amounted to 2S52s,OO0 barrels,
nearly onc-halt below the record OF the preceding week
he general temper OF traders Is publish, but TINS re-
fleets general carrying Of OnB stock and the absenoe
OF AN por short interest Operators are looking
for the manipulation of advance, but, leaving out or
confederation the question OF how much realization was
acoompshed as the result OF all last weeks Opera-
tOns-lncuding rtpurchases to snstaln prices-the
market appeared al the close to Do less able 10 per any
heavy sales than IL was a week ago.
The range prices and the total TRANSACTIONS at the
New.York Petroleum Exchanges for tue week were as
n