New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-05-18
TIE PETROLEUM MARKET


There is little to add to what has been said
through the past week in Tue TRIBUNE regarding tho
petroleum situation. It still the same favorable
aspect commercially, while suffering strange spccula-
tive neglect In the oil regions great zeal OF develop
ment and exploration work Is gong on aud the resue
of appear in the monthly record But IN spite OK
this the figures or the pipe lines continue TO point TO
decrease in the stock OF OIL above ground Active as the
dr s have the spectacle presented of charters en-
gagged far this month for more than the amount OK
runs reported from me Wells anu an excess Pr
conceded that there may be some c0n IN these gures
not stand the Intelligence to allege that all Of
this wide margin in favor OF the producer IS deceptive
The wonder is great that the statistical conditions do
not stamp themselves upon speculation, but IL Is not TO
be overlooked that all kinds of business arc being con-
Quoted on careful even timd, basis with the natural
accompaniment OF times OF liquidation and economy.
which is the absence OF the purely speculative spirit
The runs for the first weeks OF May have averaged
SO 4Os barrels daily, falling of Of nearly 1000 barrels
from the average last month 6O,29Ol, and compared
with the daily average of 66,713 barrels In May. lss4
and l45 barrels in May 1888 The daily average OF
the deliveries has been 80 30s barrels against 6l427
6I3iI barrels in May, 1888 The charters have aver
aged 56.925 barrels a day AGAINST 1aosO barrels IN
May 1888 The pipe line figures to May Ia chartersto
May l5l are appended: 49,
Runs. Deliveries. dsiy'., Charters,
I I2tal Per day Ss SS6s 1906 $685.
x,eptlng moments OF spasn9dic aetVy the pesr e
for many weeks. The dealings amounted to 2157oOOO
higher basis than they had occupied during the pre-
cedng week and, after saggng from 79e192 70 IS
cents the close rally 10 SO4GsO cents was estao-
lisheda gain Of Ia cents from the hna price week
ago Carrying steadily declined, and with slight
calling in the rates fell to 80 cents Tho
trade early suffered some anxiety about the McBrioe
we'll, the Markham, in Thorn Creek but all fears
allayed by its opening small producer In fact,
with the yield OF that district down to less than 1000
barrels day. IL ought to pass out OF consideration as an
element in the market There is short interest In the
market OF mean magnitude, and the disposition OF
operators to buy for rise needs only little encourage
ment TO become pronounced Whether some large oper-
atOr interest shall decide TO take advantage OF tho
existing bulish position Of the commodity TO start an
advance is OF course probematca but undoubtedly In
many respects the situation favorable for such move
ment AT the close the market strong but the trad
ing professional In the MAN,.
range prices and the total DEALINGS Tor the week
at the Consolidated Exchange were as follows:
Openng. 20 Lowest.............-- ~
Highest........... S0lS Final. ~
Sales, barrels. 40
The rebhed market firm but quotations were I'M
changed 7os cents per gallon IN New-fork ano ~
cents in Baltimore and Philadelphia.
BRADFORD. Penn. May l6-Crndc O.Natl omar ir an
sit certificates opened at 1888 and ciosea ~ soS
highest price. SOLE; lowest 1888