New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-08-31
TIE PETROLEUM MARKEE
NEw-YoRK, Aug. *


For the last two years Wall Street. in the
MAN, has been bearsh pipe line certificate speou
laton while the oil country has been bush strange to
say even though the natural attitude OF producer Il
favorable TO higher values To-day tho respective post
lions Of the interests reversed far 6e
judged. and naturally enough there Is much comment
upon the fact Looking 10 tho conditions Of the
trade any curiosity 70 the reason ior
Wall Streets change OF base ought easily 10 be satisfied
In august issS PIPE line nS ssS's 20
barrels During tho last two years extensive lquida.
items we're made In many directions The values Of
almost all products aud manufactures we're shrinking
a furious railroad 81 rates raging with al ~
demorsliEing effects on the financial markets. stock
panic occurred and for long tino a COM
mercial paste was believed 10 DO imminent,
and in the oil trade especially ostrust AM
depression fostered ~ frequent dl.eoyres Or new
Wal street did bull until after IL had received
severe speculative punishment Tits year only proves
that Il had been ulcd by repeated victories Into the b.
lief that no Moscow Waterloo could Oy,rtake the pa
tent sellers OF certificates IL cannot be- denied that
better From net stock on August 81, 1854 of
81 gs5 sg7 barrels. there has been reduction IN
with almost certainty that little more than "a. 100000
barrels wi Do shown by this months statement since
by the most digent prospecting aud the present
OF production i sustained ony ny the most ptoni-
gate use OF Ditro-gycerne Ia the older districts. Euro
pean stocks d,eresscd greatly IN spite 81 larger
auautity exported by America. aud the market now
confronted with the busiest Of the year for
sumption. Il II 10 be wondered that Win such sondl
other drectons many SewYork capitalists are long Of
oil AZ 81 though they short OF Il months
cents The who'o strength OF tho opposite policy now
being pursued by the average producing Interests In tho
Petroleum centres 10 be IN the argument that oil
has mai bg advance that the standard won't let
higher that carrying rates are against holders and that
source OF supply may DO revealed at almost any
time.
Rumors OF wells and gross Congregations TO write
mildly were abundant. but wildcat after Wild
continued TO swallow the investments OF reckless
PROJECTORS without return IN considering Tie sHght
Increase this year In the value Oi our exports OF the re-
nned product compared with the heavy gain IN
quantity II should he remembered that for large part
Of the time refined kept unreasOnaby low for the
purpose Of forcing the Underwater Pipe Line interests
intn the hands OF the dominant refining power
tbey now rest The pipe line this month reports
rcis day against 81 229 barrels July 0O7 barrels
In june aud CG.i92 barrels In August. 1854.
Sstv.res syerass G7275 barrels a. compared with
Gs 7I2 barrels July. 67s0 barrels in jane and G77ol
barrels IN August, 1884, AMI 61292 barrels I'm August,
1888 The charters average daily 5279i barrels,
Js Sas and isSs@ barrels in august 1874 ana 1900
barrels in August 1888. Tho figures from August to
~ charters to the 2sthl are rs appendedi
B BsI sa. 5tjSs i' 55 1854 s4 ss7s
moderate business. to which room trading each day
contributed arse snare narrow fluctuations ana
10 the certificate market last week. Offensive tactics
oil s.pesred to be with staying any serious de-
cline Each day had It's crop OF Wild reports about
trTlly 10 their the day preceding From O25s
M t close OF the previous week there early drop
that quotations vbrated between ~ O3is 81 Ola
ending near the lowest point OF the week Scattered
lots OF long oil shaken out OF weak hands but prob
ably considerable short interest the net outcome
OF tho total business Traders are mrod In their views
and nervous but market closed az any Significance
can be attached 20 the narrow movementsj weak In
The range OF prises and the total dealings for the
week M the Consolidated Exchange as follows
Opening ........... 1919 Iowest..... 10lA
Highest .......... 1854 binal.............. l0l g
Ia
Tho fined market remains moderately active with
no important variation Ia price Last weeks gam OF y
pergalon however was lost ana quotations ended
and BnItimere Perhaps increased outside competi-
ton leads the principal refining interest-tho Standard
to keep prices down.
BRApFoRD, Penn, Aug 20.-Crude O-Natlonal Tran
st Certificates opened at 10l7 and closed at 1919
Highest price 1926 lowest price, lOlia Clearan ces
1892 900 barrelA
ST. Iouta Aas 29-Four auiet Xxx. 81 eOass On xxx.
& - sss 7s Patonts IS ioGs5 40 Wheat active NO
s ssd 6 SssS ,e Corn du Sssn 4ls'
August 4pgdil &c 5epiemoer SSh 6iOttea October S59
fsmbeT &c live 62e Barley steady 5O170c But
Ego Ses 6s as sssa ;, ste Gay
BE Corn Mes ~ ~ Whisky steady II 81 10.
Pork. - 90 Buifmeats-Lons Clear S. 90. short RIB.
Reeeipts--FIoaL 5000 bblas wheat slOOO hasnh corn
gyVyO Tvs ssiomsSis~SIoIr 1000 ooss ~hss 1900
BUSH Corn 55OJO pusn. OatA 3fOOO Dasli hya l.OOO
bush; iaricy. 1000 bush
august 1896 september 'g.e Corn steady No , 1se
Oats easter NJ 1,e PSTs casS o. hnsss
g M ssts%s s1,sor @r g e pu sea" .s ss,
-Fresh Oil nc eeceptsPonr 66oo bois, Wheat
gu.. : az lual