New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-01-12
CLOSING PRICE or CALIFORNIA STOCKS
SAN FRASCIscD. Jan. 10, 1855
TIE PETROLEUM MlRKEE

MN YORK, Jan. -.
The most important event in petroleum cir
ces las, week was the decision OF the Associated Pro-
duccrs not to continue the shutdown policy which they
committed themselves to last August II Is almost
idlo, nevertheless, to speculate 10 the probable
outcome OF this action regards It's effect on
prices of National Transit certificates. Within .
week after the producers formed their organir-
of Septcmbor lss crude oil fell from 92A TO ~ cents
since that iue the teeth or reduction OF develop
III " ,es over rms az uor than 3.,7 OOo harr
the speculation has been almost wholly local In char
Viii an" mo rn.ly OF consequence such sequel
", n"lcy hailed on ali hands rs prudent cai be
comprehcndel only on one Of two snppostons thai mo
speculative situation ast autumn WI ~ ,'as
the conditions OF pr~iuetion defy All arthcial az
adotl holders OF oil arc confronted with the constant
possibility that they may D. tieadns uon un.sr,n
ground to-day II the second is accepted the satis"
situation IL robbed OF most OF IT. encouraging features
for rene we'd activity in the oil fields almost Inevitably VIII
follow the abandonment Of the restriction agreeen Tue
speeches made the recent producers meeting reflected
decded dissatisfaction with the results OF last years
indicating what Is so frequently asserted nowadays
that the production will take care OF ITSELF AZ the
same time there enough said to create the Tear tha
deued by the last five months reduction or STOCKS tno
producers may rcckessy violate all the vlrsin lana they
can nnd and by wildcatting, largely increase the Yield
of oil The only favorable argument that can be drawn
ro the Bradford edct of last Tuesday Is that II prices
went down restrictive agreement, they may 80 up
when the drill Is left free to do its work; ,,,
The month has opened with rcN"fsal OF tue ply hno
movement OF the last dive months. aud un TO date IN
stead OF deliveries over runs there has pecn
a slight prepondcrancc OF receipts. The figures RON
January to charters to January 81 are as follows
Runs Deliveries huns Charters
T TSs4as Barrels psr S7SSs S1ei5 e ssii
Tho ejaculation i'm certificates last week remained In
the in which has stagnated Tor some time ~
were made up by local trading for each day. lherc "s
no important field ana the production OF me morn
Creek district continued To shrink slightly, Yielding ony
21 barrels by the latest gauge. There was 80 shsnt
dsnositon on the part leading operators 10 enecs
INDUCEMENTS on a large scale that even the seuou
OF the producers at their Bradford meytng sr's.o
scarcely ripple la the markets. Almost Tue vny ics
urc worth noting the dropping tendency OF ptors
after early sales at 74a7ia there was an nros"a ac
cline IL y cents. The last quotation snow .s.sdv
ton OF only about cent and there was s ues.s
heavy tone To the late aeanhss IN. sa,rS OF con-
was due pr badly To sales forced by tue
siderable loans at the banks when caIy o he sonsht
and the Immediate danger 10 the marAct iy
for I'm continuance OF such policy on NJ a. ,hsa.
NeyerheIess the general traders are .ui hrtne
ideas aud hope for some interVen'''" "
about an advance In price. ,,a ,o,ai transactions
tho or prices sna 'A" ~
for tho week were as foho"s' .,vn. ~. ~
Opening. TkA
Highest 7ih TIA
Lowest ...-....-..-.''-''--- 7oIs 72A
Final. .--...--.--'''' % al 600 l9O37 600
safes va. barrels .,....... 22,7S00OO 3t.oO1OOV
p.od oil WAS dull and devoid OF feature nut near me
c,ase nrices reduced y cent per kauon 70 eoo~
an Nav York aud 7ns In Philadeiphia Ano baitimos~
p,.nroRp Penn, Jan. 10.-Crudc oil steady bus
nat .trous cearances 443oOo bbs. National Transit
and Tidewater Friday not reported' Total ship
mens, 9Os9 bills; charters 23.77o bills; NselS.nl
Transit certificates opened at 12os aud ciosso - SS&
Highest price. 73iG lowest II