New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-23
THE PETROLEUM MARKET.
Npw.YoRK. June %.

NETWORK. June ~.
So faras their effect on prices is concerned,
It seems TO be Of appropriation to note the ea
lures OF the statistical Of crude petroleum. Tho
market ia not governed by any consideration Of Outpus
or OF the state OF the export rae the cost o. proiuctoh
etc It's ruled by the general indifference Of the PUBIC
10 speculation, the want OF confidence IN every lh'es
menJ that does not 70 be OF the most s1aDie anu
assured character, aud the actual financial inability OK
many large operators protect their property Under
tie circumstances IL becomes easy matter foe pear
raiders TO create pancky feeling, and By vigorous
sales to force the liquidation OF loans which nave Desn
made for the purpose OF carrying OIL III mo
carly part Of May Pipe line certificates SOD al
II O3a that sixty days there has Deen decho
OF so cents per barrel The situation has undergone
no unfavorabe change since mouth ago. in tact 1t pre-
sents encouraging features than It did then. ITO
ductou IS less than II was month ago, and the con-
sumption greater. The average daily runs u June ~
have amounted to So barrels against $3.50 barrels
in May and the deliveries have averaged 80 far oZSoo
barrels against 6O735 barrels in May 1t 10
true that the average daily charters are smaller than IN
Nav but the decrease Is less than 5000 barrels per uay'
The producers nave made progress IN their comDnal0n
difficulty Of borrowing money VIII OF then,eyes conPes
the cessation OF good part OF tne usu1l any
change in the OF prices and the market Is ono
thick VITA possible those VINO woud DE speeu
Ia We even strong margins IL Is another mattter
with outright purchases OF oil that Is sehs oelo" 'n'
The pipe line runs and deliveries 20 date nearly
eona Inc daily average OF has been 63, 100 bar.
res against O4j0 barrels IN June, lss3, and S29S+
barrs in June 1852 The deliveries have averaged o-,'
$50 barrels a day, against o-2+9 par
res In June, 1888, and l3,s96 oaTres
in June 1882. The charters average 42638 barrels
dav against 46 44s barrels in June, 1888 and of4g
barrels in June 1sS2. The pipe line figures To June ~
(oharters TO June 90 are as annexed:
% 2'H ner o Sav 6SI00 $3.50 $40 42,e55
The recorded transactions at the petroleum Exchanges
last week amounted 10 lOl.712OOO Oarrrls~
more tnan two and half times the amount OF the
vt.ibe sDply The market retained steady tone lOr
for only short time IN the early dealings, the pest gIo
Tor the week being 73a cents against Us cents al the
close OF the previous week. On Thursday neaVy sAes
were u ade which carried prices down without m9ch re-
si.tance The last two days witnessed decided panic
and the market fell 20 5O7s cents closing nj rauy 20
$50 cents The market ended denOrahLe1 N
snte OF the late reaction, but there was eOn-deraoe
amont OF oil takeu up for mvsstment The snort
tTterasr az be lose was enormous and the prObloues
are that attempt 20 cover uOeta! "o4u r'So N""
ural upward reaction d.. A. -. ..,x
The OF prices and the OOIs ueA4H5S LUZ INC Wv"
follows:
Ny. Pc. Con FL
Opening -1s r3,,
ST. SOL
-....-
Final - el000D 54le2OOO
CIearances yester 4c'-OVO ''A''oNN
The deoralization OF the crude speculation naturally
affected the refined market unfavoraby. aud the price
was reduced L OF a cent % = cents per gallon IN new
York and TL2 cents IN Phi ade phIa aud BALTIMORE