New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-03-15
TIE PEIROLErN llRKEE

For the first time in long while the petrol
trade treated IN the way Of news
from tho oil fields last week. well the old Dyer
well. in the Washington County Penn. district, which
was not expected by its owners. Pew ~ Emerson to
strike paying until the latter part OF April flowed
Thurs lay alta depth OF only loo feet Although
tho report OF the extent OF tho yield grossly
exaggerated later aud fuller advccs pat the production
at 800 to 100 barrels day. In itself the we'll of
little consequence, but its significance lies in the fact
that IL opeRs up Il new OibeIrug sand, making three
strata different depths in which good deposits OF oil
been found in this field The rade Is consequently
confronted with the possibility that the development
work at Wa.niugt ON can he used III less expense and
within shorter time than nal previously been caeu-
me cytrnt Of The field has vet to be- defined I'm many
directions. is dScOura-nL tOcOnidcHCe in better values
The rest Of the news from the petroleum Regions.
uhe OF minor import iUc., beIrish character
ON the other hand the present low range OF values
likely check work in the older fields and against
denied increase IN the production h"re IS an existing
mar GIN OF excess Of consumption over supply 70
Il sort OF bredk-waler To any serious change IN the
Cmcudms those IL the Marksblrg h'Id heli in the
custody 81 all the pipe lines 3}l~)Oj7 barrels at
end OF January decline OF I2s jo7 barrels March his
opened with falling Oft IN the rate of pine line dcliT
cries hu, the runs rom the wells also snow u
decrease not quite to the same 9roporuonate
6s7 barrels. compared with 577 IL barrels in
February. jS.lsG barrels IN January. jOS0 blrrels in
deliveries G-.90G barrels day against 600
barrels In February G6 lS3 barrels IN January, CLOG
1851 The charters average daily i2,26 barrels, con
tra,tcd with 30 Oj6 barrels last month, 81 l7S barrels
IN January 2S.j6S barrels In March, lSsj. and 3O.59D
barrels IN March. I-~i. The pps line n-ures from.
Malrn 10 IL charters TO the l2th were a follows.
Excess
Runs. Deliveries. Deliveries. th'rtcrs.
Total barrel Glt,1JJ 7bt,i3 ltJ,+uN JJtt3b
average per day. 5,.6s7 GSoJ6 1918 i2.-Gl
AOt unuI Tnursdly did the crrif ate speculation last
week develop any fcL,urc OF in crest. Business was
DUH the room pikers had the trading mostly To them
selves hut prices were sustained with measure Of
,te4dincss at 7Ja 80 SOl cents Indeed, 1t looked
for moment upward twist the floating short
interest might he effected. Ihc news from the Washing
ton field, however. dropped Ike W.T. cldth upon tho
hopes or the bulls ana there rapid break prices
from Sul2 cents to 1Ii cents followed by another fan
from 174a 7Sl2 cent, To 1G'- cents. Buyiug by tic
hear, however, viectrd tlU rally 10 4N'4 cents and
the loss the previous week OuB l. cents
The market naturally received support FROM OF the
strong parties wDJ holding OF but Il unsettled
AM -gerlsh at the end. The disposition OF the large
petroleum country operators sechs To be to lgnDre the
statistical position in OF the uncertainty Iud men
ace OF the development work, European Specula-
dead and the losses Of the general public IN last
years panic preclude the nope Of euiStns ITS support
should he so new favorable ChdpS5 al the
GU luuk II cappet thus the Ith q" tie l,r-e no Il
Of certificates unfortunately may be put severe
test ia the lew weeks.
The range prices and the total dealings at the Con-
soldated Exchange for the last two weeks fol
Ia