New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-08-27
CLOSING PRICES OF C1LIFOENIA STOCKS
SAN THAN 'I,GJ. Angus 20 l-ci.
THE PETROLEUM MARKET.
NEw-YoRK. Aug. 90.

NEW YORK, Aug. 20.
In view Of the present situation Of petroleum.
the following extract from he address adopel at the
meeting " proIuccr, which w take from The Bradtord
Lro VIII DE found o. interest. Il presents
pact form the cons Ieratoas which moved he a-soyi
ton 20 continue the policy OF r.-trio productions
That our productive terri ory fulue, md thlt
hau-tlpn ~ the supply j, rcaened, D. pioV by he oil
l.Wl facts: The state 0o-I-t-. body cmlue ly
scientific g'ut'cm %, cuuorrd bf the iat- CcIt cv-
pei So on Dee 'ut DO or az me '-uI ion- since d'-
fined Tire imi n po-- hly productive ferlt d~ Doe
Wis,i H. IN, rt. Of N-.Yori, ~ yo,b,, i. n tIa
of Penn lviuu. distance Of about $50 m'c- m
va-uin-. az, the Norti. south T. n AMI VT
imI s. nave proven them 10 Doe ah-oIIe cor. ect j
came authority -a tn1t In he territory south of Brad
for aud north OF Franklin embracing one half of m
prose. ihcd limits d would Doe found on in narrow
sfrcaks or 10 ISOLATED pools The drill an' sd eXper.ncg
hay also proven .. 20 pe trlr tn cuure ext M Of
rritnry embraced ln the above limits his been
thoroughly tested or The d'll AMI now we can assert
without ar OF slcc --f % coutadcl NJ that no Il ld APP
proaching at of Bradford or Ale exist. am
any pools or .trrak- hereafter d.-co.clcd must De-
O.. anc"-. That 'hc Wells now prod cling are un4cr-
ing rapid decline, ahi Una. Do" ouc- en- not De
found to take their place. e. proven hy tn' fact I iu
the wear $50. when comparatively be-tor urcr- -mu-
a eel I'D Z" mos ariN opcb "iI, cnnp.' ting 900 me
year 2.-,G we yet ne daily prolu lion dcel ned 10
The ik or tue present ear tells zoe sam. sto ~ the
hr1t part o. .hc YER being one o graf activity tlu.
fif 'rly 1000 wcil- wing been CON le.d yet T.
vii staudi the lac. that one ~ CSC 20 haud productive
sreaks or pools h- been discovered The run Tor tni-
re'- per day which must be below the consumption W
the world
Tho petroleum speculation to-day variab enough
10 please the most fastidou-. The market active
the Transactions at the boards aggrc-tuIc 232J1"OO
barrels Frs, prices 9Ol2 AMI 81 c.u against ~
and -9 last night, bit rlzlng slic- carried the
mark down 20 -7h cents. Then followed % pcroI of
frequent I'm uduOu-, but Ir ten 'rucy uf prices
ward. and b., $50 D. hey had tuuchcI 91lt
cents. In bl city H1l Gems rriC .cl. On
the last twcny uiuutc4 the murkef way.
Hd amid great excitement prices declined 10 ~~l cents
Two small "nol.' failures w.fc announced cnrli iu
The dH tarr ing net r-rd from 80 g. go cents clos
ing about - nt- per 1000 barrels The m1rlc coded
excited and weak No guide fur the future -upulcd hy
tc sudden reaction tine close The ella that the
short interest has been prct wei eliminated FROM the
speculation r. d-puted hy operators I'm al
ion to he We'll informed while traders were lie
rlI.Od Dos the late decline. many .vd ob-trycr4
predicted that was ma the nature Of what The street il
a scoop
Tue range OF prices aul the total dealings were as
fpluwst
- ~ Pct Con r.
OnenuE ."................. BOB 81
Birnest................ ................ Pla s3i4
inW ... .. ............. NJ
Pima. S-a HHl1
barrels l4N4uOO lINtlO 600
Clearance yesterday ....--.. tAtHnni lilGoODO
Tu. e. carancc4 elsewhere were or lily. s1Gl OOOi
Bradford o. 100 OOu and ptt purg G.5G~. 900 barrels
The quot ltionH f,r refined oil advanced 4 ~
ron ID ~ Inn IN 4 Nar N,rL md d IA