New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-10-26
THE PEIROLEUM MARKET

Little change is to be reported III the StatlSu-
ca position OF petroleum The outlook In tho field fur
nishcs cause for alarm the domestic consumption Is
exec lent and trade, while sl showing no
dspo,on 10 make purchases ahead. is still maintain
luz healthy movement OF the refined article aud Is
pressing TO point where the depletion OF STOCKS
abroad viii force purchases far IN excess or those Ot
the last few months The commercial strength OF the
commodity remains undcEiabe aud the only variations
that occur are as ripples disturbing the surface OF
river tue time being the vol ue of production ma
ions yet to pipe deliveries continue TO distance
the runs. The winter weather ought 10 make sharp
difference In the quantity OF oil produced ana limit new
operations decidedly. Enough patches OF new territory
been opened np to bring the average OF runs TINS
mouh MP 10 hgures IN excess OF inc august average "h
demand has been affected by the higher prices and
the large deliveries OF the last months sufficiently
10 rural the October movement hot Mite itchcc tno
average OF deliveries over uns has fallen fOr the
first three weeks 0f October 10 about $500 barrels.
AGAINST excess In September or lass and IN August
81 barrels. such changes IN the relative posiieA or
the supp y and the demand are reflected III these
comparisons, wnl.r Iurhr'nx no cause 10 eN!cV I1'
ca alteration OF the statistical position, may explain
Of the hcsaons aud reactions deve oped Ia the
10 - 5G,l2j barrels day contracted with
I'm Nnsu. aad 63O7l barrels In October 1884. and
1868 BARRELS october. lss3 The deliveries for the
.nue ueriod make "a les, Julllsh showing the daily
average nas 81 $50 barrels against 7l2O6 barrel,
~ september 6d.IOO barrels IN AUGUST, ana Sliit+
49, i%c With r. sol barrels I'm september 40 700
barrels III August aud J9s5 barrels IN October. lssi,
and IA barrels October, lss3 Tho average New
Tnr morris TO October ~ nave been 4i,92I barrel.
crude equivalent as compa with 3s.73S baris last
month aud SO $40 barrels IN August. The plpo line
.urcs TO October - charters to the 23d)
ucNcd:
Runs. Deliveries. deliveries Charters
Total b,rrels..... l?55h@j l3,bt2t l'Sr0; 10. 3l0
Average per day. JU.l2J OZ.u50 O5Jl 1880
The transactions In crude certificates the Cons0l
dated Exchange last week exceeded even the hh record
made the week previous: the sales aggregated over
barrels. The excitement ~ the early part OF
mo week was unprecedented and the speculative fever
RACED with "a violence that alarmed conservative nlem
her. Of the trade No time allowed FROM the open
,R M to Thursday purchases ON looked Tor reac-
be said To hLvo moved without Ieac-
no from 81 o. to ~ l2i2 The later hsurc was the
rhc, touc he'd January, 1851 aud represented
rise IN ten days about II cents per barrel IL the
the o. of IN. week the danger OF panic would certainly
have been invited for immense quantities. OF oil held ny
wCrc hduS on tho market, whlio
tne ulk OF the speculative long holdings passed into
IN, hands OF operatOrs whose purchases we're limited,
not by the OF properly guarded bank accounts
but is their inability 10 have the oil carried AZ Pre-
bgu rates OF interest IL cannot justly he
Said that manipulation carrying charges up 10 ~
cents 10 81 75-hgurrs which prevailed at mo height OF
,h nuvinv fever The sequel OF such strained specu
inive poston was told large falling on ia the ac-
rty of trading toward tho close OF the wosk anu re-
c,.son OF aat cents the highest point And the
Of the holders or the noatlng certn-
rntrs was Indicated by the alarm expressed AT tho ex
trnt ~ Of such "A reaction! The market ended weak
and unsettled aud while carrying rates relaxed their eN-
IRENE tension they closed at SO070 cents IL would not
be- surprising IT, under pressure TO SELL further re-
action downward should result. 1870, -.
two weeks ut the Consolidated Exchange were as IoI-