New-York tribune., 1886-07-05
THE PETROLEUM NARKET

Asa rule, the news from the oil fields last
week again was favorable to the holdings OF
crude certificates Plenty OF rnmors received circua-
ton which trade but of them were
verified IN unfolding the muci-feared pools talked
about put forth Encouragement
was derived fcom the monthly report OF deve opment
work in Juns renec ed decrease OF fortS--ix In
The number ,f wells dr. ing and rigs NJ Hnd huiidng
and falling on new rouucton OF 29ss oarres ~ lhe
d.iiy average. May gave the um of new
production far this year I'M, the June report while
showing an Improvement favor of the produ er VINO
better prices l. still diScourarng when compaed
deveopmeut reports " last year. TIE Wash
IN field the decline though later on the OPEN
ing 4 new good wells may easily rln the amount np
again On the a~t day OF last week me production OF
ab So ~ ~ n ,nntance ~ had fe.furr. in the ont
look for prOincton which it n too eary TO d~cafi
from the situation forscastng permanent
ana imporrrnt movement OF values but the present
Tightening of Jhe clouds that have Ov-rburieued the
market nn z The trade In despair a. 70 the p'-@
biry ~ ever seeing pronisne prlcrs Il d.tn'i gam
IN Of The falling off In the Washington
put from the highest point loncned ha- been oyer
low.: May >. 3-7 barrels, Nay -, 4539 Nav p.
5497; M's 70. '596 Jm-c o 5000; Jnnr u ~, Lo.5-t
June 10, 7.545 June 26 1902; July B. o3s2 harrei-
The Cameron NO 2 well, waieh outhi to
disappointed tae expectations Of - owners but Il T.
promised richer return on Geeper drillinz Tbs well
AZ rr lis maximum yield or Il It proves we'll
10 will snow cancluNvrly that age may Or relied
terrors
The output Of all he petr fields is still in
favorable movement may be devel ped this mouth
careful figuring The whole yield puts tue lne pro-
duc0u 7O. 900 barrels Jay 10 l. doubtful n
the production Il more than 1ZoOD barrels
daily. The Consolidated Exchange suli
seems unable 10 get more tnan the
daily reports OF the National Transit and Underwater
Pipe Lues post for pnhlc IN Ormai and COMPLAINTS
numerous aud l0ut that au lu'utuIOn claiming ~
ruling IN The oil speculation coutents Itself
d-Aand ststsuc- coming by maj
rom the oii The tao PIP lines namcd record
for June tota amount of runs ot l9J3I0l barrels
daily averagr Of 6645s barrels. Of deliver
"a
l57i % btrrr daily average OF 5A+ Da res
The for this month l4-l+49 barrels, or
47.7l5 barrels tud exports l.sSO. lO-
barre IS. or 52.367 barrels day.
Lust eA- certificate spr rculatiOn would not deserve
except TO- the rlcf tnnt 10 illustrated tIe .ac-
Ivy whicn the Dears achieve snccess IN tie oil
market on .uOr- either fIlse
srut-d a condition " affairs than really existed,
prices snock down nearly four cents from
rdy buish la-t week. however may sumnar,ze the
wnu!e situation with resard possible
decline Of importance. ami yet
speculation pid the scalpers
bitter than - did thr Du- The market local
prOtessiOus. ana Ousncss must OF quiet.
4 . market 70 disgust Instead OF attracting the
speculative puDhc and yet at the pr
absurd for -enSioe man 20 make contracts N II
fOr fu delivery for the low figures. thougn.
every speculajor would heavily short Any decided
movement of fufure values depends A. said "a week
ago. the from West Bdi the absence
OF depressing Developments the market may
reflect the better character last weeks
The range OF prices snI tota dealings Con
sodae0 Lxcnange fOr the last three weeks fol-