New-York tribune., 1885-03-02
TIE PETROLEUM MARKET.

NEw-YoRK. March I.
Depression, born OF foreign causes has ruled
the petroleum market FOR many months tnat IL seems
har fpr many operators aud dealers to realize what
strong statistical position the comDdiy has rested on
for long time comparison Of tn" present situation In
the fields and in the OF the world with tat Of pre-
viols years might well tempt one into enthusiasm. VALE
tits true that stocks OF oil much creator tln
rom month 10 month since last August anl there arc
no indications yet OF any change In this movement In
1850 prices Of certificates range from .gs cents 10
81 24 the average for tie year being 95 cents. At
that there plenty OF room for the dr 70 search
in for oil supplies. The average daily pipe line runs
were 5705 barrels and the daily deliveries only
i3ll2 barrels making daily excess Oh runs OK
ia las been basis of the worlds supply, the area of
possible fertile territory OF anything but an ePhemera
character has been enormously curailel, and yet the
average for a OF 1884 We're only 1i.sl barrels
day, while the deliveries aycrsed ooooa barrels & day.
rels day. Since last August the AVERAGE daily excess
barrels TO cap these figures the indications
Of the last few weeks that the Thorn Creek
district has seen sec a It's in best & 'ay fe few wi'h foresS
fields that male show OF compction with the American
ected by egsaton than reach the cheapest demand
in their nearest marts. and The bugbear Of Russian
rTsits aTeT WI LIST Year the stocks OF reed Eafope
were reduced by amount equivalent to about
aive purchases OF the manufactured article to sustain
the present large commercial eonsGmpiion q ernie;
anoter reduction in the stocks crude Up date the
excess deliveries over runs has been heary loOJV
barrels a day The daily average or runs has been
80 barrels against 320s barrels IN January 61O1S
barrels in February 1884, and 652OS barrels In Feorn-
ary lss5 The deliveries have averaged o.. us barrels
a day as compared with 53230 barrels IN January,
I22 barrels February, lssi and 4i3o2 barrels 10
February, 1888. The daily average OF ehar,
37,9si barrels in January. 25,S2o barrels
in February, 1881. and 25,6ls barrels in Feb
ruary lsS3 Appended Is usual table from February
10 20 (oharter 10 February 20; p..
Runs. Deliveries deliy's; Chsrtefs:
Il 49, 0B5 L7i5.~lD 3S3.lt2 voE,f4y
.ysraSe per day. -. 624lO 6i5H l4.f3f 3o.o6
Altbouvh bu sine>s suspended FOR Mondays cello
brtion the dealings In certificates at week were larger
tbnn those full week preceding by ll,OOO,oo0
barrels. Further progress was made toward higher
values but the speculation met Win greater
ssIauce from the large "brars". Hence, while prices
rose from rs 76ia S5 cents vigorous assault caused
,rrak 10 7yI2 cents. The ina dealings however, de-
yeIoped renewed strength and the market moved up
again to So4Q5OiaGSl7s cents. Compared Win tho
prevous week u net final gain OF 34 ctMs Is scoreu:
While the ad vance has shaken out the weak bears
amuny the room traders there still renais an extensive
short interest IN the market, largely composed
of stock Exchange spectators VINO nave Deen
embudened by many successes III tne pas,.
High premiums were paid through the week
the loan OF OIL clear indication OF the position OF
the floating stock The market ended strong ana pton-
sing q further improvement In the absence OF unGn
pccted disaster There no important clsng' III '"o
situation of the Thorn Creek wells. , - ..
Tie range OF prices and the total dealings "ei0
follows;