New-York tribune., 1886-05-03
THE PETPOLFTlf NiRRET

II has been a long time since the news from
the western oil fields has be "a 50 unf.vor be tho pro
dGcer It week Ihe rhayer well No. 2. IN the
Gordon sand In the Washington field fully justified the
early reports Of its impor:anc II Was drilled dcep'r
and maintains. production at the rate OF about O0C
barrels day The Taylor. Vandergrlft AMI Gordon No
we're among the large wells opsnei in this dis
trct although they navc not proved 20 90 Of The mag
nitue OF TIE Thayer "gushor." AMI tho daily et o.
the Washington field was 1000 barrels o. saturday
against only 400 barrels litJe over week IN
che Kane Mexican County field the showing OF the we'll
on Lor 345 north Of he most advanced developments
fully completed, considered conclusive evidence by
conservative oil OF important extension ol rich
territory IN that region. There IS no reasonable doubt
that both in Washin ton and 81 Kean coTu!os 10 say
nothing Of the possibilities Of the shens'owb and
the Luna. Ohio p~tro.eum hei isl there viii DO
an incr-ssa in production fully equal to what
was e1pectcd Of the developments 'everal months
Tne estimate II nsv prodl'soD Tor A. - pni ~
nearly 1900 barrels daily an Increase ~ $500 barrels
over March ana nearly $500 barrels over F'Druay Tue
values however. ia cert ain restrict new opera,ions
exccp where they ate nece-'ary 10 me inIe,ests ..
psrtic g!dr producers Wtnh tn coming ten diTs ,ik
wells in Washington sd are expected 10 strike the
Dyer sand.
fec al ia ths ipo ias ri's WHOA have ne tv'.y ~
crea-c since the earsr day, 't tlc nol-a % sApTi.
The hrst week of April opsn.d wtn IN excess o. 10
liverics ~ nearly 1900 barrels isy TIE
do gn 20 about 100 barrels Tue ports tSr the last
few days show Or runs over deliveries Ia
table below the statements or tle
Msck.Durg and rtts5urE pipe lines are not Inc udei
brcau'e ia are not reported dtly 70 M Col5putate
Exenante bur all comptrlsons Win prv'd, m,9tn, % o
1856 with tue revised ag ireS thtt embrace the Two
mentioned limos COnsoque1ty the real Prol'c
ton is much greater tnsn t.s 1ay rsporss , :
urorortOn ,telY larger Tor they are not included
change reports. The daily aysr!;e OF pipe line runs
for s month is reported at 60 565 barrels "a com
uars with 80 555 barrels In March. 577tl barrel. In
Fehru rs and So s6 barrels In JdnuarI 6J29o barre
In April. 1855. and 65.sli barrels III April. is-4 Ihe
So 3i barrels IN March, II 900 barrels in February aud
65l .3 barrels in January 6l427 BARR IN Apr lsso,
Terated ave- ,s AZ s2o barros FOR The tu month 70
572 barrels March 39.o66 rr,ls IN February. ana
1885 and 335l ; barrel. in April. l's4. The pipe line
figures irod April to 20 are a. follows:
sass SSsss SSss iS si;S 7t5a IS. ils .ssss IS
There eau be no doubt that the certificate specu a,on
surprised even bulls by its strength last week Nafu-
rally after the sesatn ~ ANA % The bayer
esrly dealings on Non ay excited AMI partially de-
noranhei es cent frou the end Of the previous
week. and from that PORT tasre was rrcovsry
stanl the shock II hearish from the oil country
increasing prospects OF an advance IN production eoss
To the heels consumption not ahead or It, ana Tor
eQn trade refuses big prices for purchases
but it saw rhe time weak aud declining stock
AZ The existing labor agtatons les hrmness and ac
tual rise tbe face II this situation We're due however
Whatever pressure to sell from exhausted margins was
exrrted early neutral zst by purchases 10 reap
profits sales no time for the strong hod-
er. 10 drop lOad-. and hence after tuesday the
tsn.actous were small and without any character be-
youd the OF traders for small fractions
II "A Fundamental article OF All oil mans creed that on
IA cheap around 20 cents; 1t is 40 fashionable that it
ia a universal thing among conservative operators
to sdv,se against short at such low ngurrs:
hcncs when the argument remains that the Washington
and Kane Developments were discounted in the decline
OF 40 cents the last months what noe OF
reason for the comparative stcadness OF values 20
long "a holders show their present cohndence IN crhe
at "a cents the room plkers." who are gener-
aly bears, will supply plenty OF fuel Tor
dull speculation when 1t comes to the question OF an
vance of Importance probably the assistance will he
needed of i'm operators who now, unfortunately
have no confidence immediate outlook The Ger.
tidc ate market closed dull Out near the best prices OF
the week it strong only 10 me sonse or showing
sunpor in The OF free offerings hut IL would not
e orlsng Improvement wsra made early this
week. -. Al. r.,
The range prices and the total dealngs at the Con-
sod,ted Exchange for the last three weeks were rs