New-York tribune., 1885-07-20
THE PETROLEUM MARKET

NEW-lORk. July ID.
The most striking feature Of the oil situation
last the evident attempt to depress the price
OF crude in which made of sensational and
exaggerated reports regarding the discovery OF
districts. No. one Of the many accounts Of promising
territory expected petroleum booms large leasing
OF lands" ETC., has been confirmed. The oil world Is
the earliest news Of new field but though t
its anxiosly not the faintes CLEAN Of
reward meets them In the way OF wells that are moro
than as drops In the ocean Considerng the general
evtabe that except for this constant fear OF AL unex
eSs % Sayance OF the prrsen basis. Yet Without decided
change in tho worlds consumption there is room for
within less than year. added roughy speaking) 20OO:
this enormous accreton tn re has, In
the same tmc been net decline Of 30OO,0D0 barrels
Creek district has fallen to than 5000 and
still the decline a the old regions goes on. IL might al.
fop the hrsihfui comcrci outlook oi the oil industry
But the undevelopcd territory left to the rrospecor 10
even under the stimulus of better prices and specua
tive desires to bring abont decline For the first sx
LIDS for the period in 1851 Il33 ior 1883 22Ss
for ss o ISL M aSs SG 1852 oo Wis ss for for is7S s7s
In tho last mentioned year speculation t WI be re-
msmbered carried the price o. crude a. 10 nSaTy ~ .1
temporary sackening Of the recent gallopog pace Of
eonsamrOn They average soS2 osprs S adsy ::
Sa%pAriia say IN July gay, issi aud sa7ss barrels ia
I sss BUT asas ns osrs: in iy i
1881 and IS e;2s barrels in July, 1888 The charters
average daily 52G9S barrels against o3 barrels In
IL may observed that the refined market Is strong In
the face 0f hesitation caused perhaps by the hope OF
decline In crude and II is probable that another active
demand cannot be postponed longer than few days
The pipe ue figures from July to lG charters 10 July
10 are as follows: -.
1s.a ss. 's ssSss issl sss SSs5ss Ss5s
The speculation in National Transit certificates last
week was comparatively quiet. but there were not want
ing intervals considerable spirit was displayed.
There free sales for both long and short account,
with result OF an erratic movement In prices from
At no time, however, any decided weakness dcvel.
opcd, and the market at the ent had
thc snort interest eliminated two weeks ago Carrying
rates red from 20 to go cents, but this was due 10
the free lending OF certificates by strong holders Tho
for some days in fact closing tone unsettled.
ft displays sucn qualities OF strength however as 10
suggest the idea OF further Improvement, and 10 lar
oped sooner than traders expect There has now been
reaction from the highest point ol nearly ~ cents
The range Of prices and the total dealings fo no week
at the Consolidated Exchange were as ioiows
Opeuing ....... p4A I.owest............. 93k
aighest ,....... 90aa FInas.. 9ias
Sales barrels .o5,<lo,Voo
Tbers was lull in the refncd oil market last week.
and while freely offered tho product was redycea
i'm price IA cent ss cents per gallon In New-fork
and cents in Philadr phia and Baltimore.
BRAprogp, Penn. July ls.-Crude Oil-National Tram
ait Certificates opened at 94s and closed at 94a High
est price. 95ia lowest price. 95ia Cearancos,
2,7s5, 900 barrels.
OIL CITY, Penn, July ls-Crude Oil-Sales. 135O00O
barrels clearances barrels; runs. GOSH bar
res shipments, 72,3si barrels; charters 53l9o BAR
rels National Transit Certificates opened at 94's ana
closed 9ia highest price, 9o4; lowest price, s4