New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-04-14

THE PETROIECM MARKET.

NEw-YosK. April -.
In the face Of the long continued depression
in the price OF United Pipe Line ceFtlcaes 70 Is hard 10
realize that there has important change IN
the statistical situation. The market has been Gold down
with so great success every recent rally has proved 80
usory and the temper OF the trade and Of speculation
Is widely "b-aTsh" that IL that there blys
been are Increase In stocks, or the opening Of
field OF supply. such has not however been the
The dr invaded many sections Of Pennsylvania b1s
the production shows that it, travels have been In
The only discouraDg feature Of the situation has been
the diminished demand Of refined OH In barrels
with the result OF curaimen OF about 10 per cent In ths
capacity Of the barrel factories sixty days from 10
is almost certain that this phase Of the market must
change for the better; tie much-braggedOf Russian
fields have not supplanted IN the supply 70 tho
principal European ports the talk about them has sim
ply caused Europe reduce buying andO-mOnth
affair A comparison OF the stocks held by the United
Pipe Lines ana the Tidewater Pipe Line on March a.
iss4 and on December 81 1888 shows an Increase OF
less than 800 600 barrels net. Such a showing for q
usually dun season for business cannot he said 70 bo
pOrtentous. The effect OF the low prices for crude
fected in the withdrawal from the market OF nearly
100000 barrels in certificates, with increase Ot
nearly 800 900 barrels the credit balances pro-
ducers on the books Or the eompanies In December,
month. but the deliy cries IN Dece sber 1850
barrels below the amount 10 March lss4 The excess OF
242s97 barrels IN December, lss3 decline Of 1871
S given in barrels win be foun3 interesting
stocks ..-.---- ,l[y5O1 's,Sbyo inc tal,aJt
Sediment and surplus. 21s2e5a 2Y552'lsi Inc 2-25t
stocks 5oofp9oS 1ol%o1l@ me 4l-yit
Certificates Issued 3goIUl2o %9ILkli Dec ygS9<s
Credit balances Dl3ota5 ooVt1yr INC "a 800
Receipts lelato0 SO3D.4+ lhc ,O99st
EXcess receipts - 2I3s97 l66's2G Dee 7J.s7l
30 Far this month the pipe Inc presented small
excess on the deliveries From April tse figure.
follows:
rotalbbls; Averas iay.
RIMS April e..-....--..- 5l3'5l6 9,i9l
Deliveries tfO'0oi J<-l5
Excess runs ............... 8s44s ana
Charters TO Aprl l0.......... D4,i03 3l.3J9
Although the week broken by the Good Friday
holiday the transactions at the Petroleum Exchanges
last week were nearly up to the high record OF tho
previous six business days. With fluctuations
covering an extreme range OF 5l4 cents, the net
result OF the speculation advance from the prey-
Gus week of Ony 25e The opening Of the Market
however was attended by reaction from 93ls 10 9O4
cents and after that the movement upward met with
few checks The final dealings were particularly strong,
and there confidence felt IN the future
than there been expressed for some time wide
spread and powerful short interest certainly pervades
the market depends upon what the "bul' power 10,
which rallied prices ne cents 20 whether than
short" interest be frightened driven into
ing further will meet with strC resistance.
and the speculative situation is surely not sufficiently i'm
proved too great confidence in the perm2
nency of higher range OF values.
The range prices and the total dealings for the week
f,ff..