New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-08
TIE PETROLEUM MARKET.
g FROM THE FIELDS AND RANCE OF PRICES

NEWS FROM THE FIELDS AND kANiE Op fniOr>7'
II putting mildly to that the crude market yester
av caused widespread astonisent by break Of cents
barrel opening. further reaction from tho top
price reached in the recent advancesl ceats-wa iooked
for response the expected increase OF the output OF tho
field through developments Of the Mc0ahey
ws the end Of that pool Referring %
on Monday was something larger the trade had been
from recent s: a c
reported yesterday when The gauge wa given a. 30 bar
ss s night "
count Tor much when the general production bad nS
Ing for month until counting 10 the returns OF the pipe lines
barrels ahead Of ali The runs The specnacn however gave
Il cents and dnmnlng oil from Psburs holders begun
in the early afternoon brought outa heavy To- Of OIL held erc
down 70 Y cents With the seini started
made hrs, INQUIRIES for them being
We're strong in the MARKET and quick raj
y cents was effected but tho ira ing near Tie close
a s er holiday. apsi garsp
this to BE- SAID that While the territory near the edges
reacherous the chances favor swell ing Of the output for
cy sy Of @ % a To
under existing coudoos Without the TACT that tie
market broke no, on the recent tax THIS bugaooo but
look there naturally feeling OF by
shoui forgotten that the sellers decline
bears are attaching prices 70 cents below the arsrags price
the last eight years and little moro than 10 cents above the
Ing ED Instead Of falling on ""'H
The ana the total dealings
dated Exchange were as follows;
Opening. ............ so Lowest. ~
Highest. so Final. 70
Sales ioOoV
Refined oil reduced cent per gallon cents In New
York and Baltimore, aud SIS cents IN Philadelphia.
PlrrsBuRG Dec IA sudden and heavy decline In oil TO-
day caused panic at tho Exchange The session opened with
feeling bearish field having depressing innu
The first sale male at 80 cents and gradual de-
cline 10 II followed Prices then remained without
until shortly before when the
dropped In lew minutes to TIN cents SH cents below the
opening.
The holders long OIL becoming pancstrcken began
loading Al IL cents howevei the decline check and
Only failure occurred here NJ Hayes one OF the
brokers' unable his contracts aud 10 OuO
sol under The rule bis account
The the Exchange not market by
any OF exciting features OF the rnng ahou gu the feel
ing decidedly everis After tho drop TO II . ceDts
prices rallied TO 74s cents at ock but fell again with
Of buying and closed rather weak at 72os cents
OIL CITY. Penn. Dec. 7.-Cruie on-Natonl Transit
Certificates Opsnei a. 80L nt.t~ IrD 80k lowest
price II closed 727 Sales $685. 900 barrels cearances
523s barrels charters 66G67 barrels shipments.
02.su6 barrels. runs.
PIrTsBUR0. Penn Dec 7.-Crule Oil-Petrolsn weak:
National Transit Certificates opened ut 50 and closed at
72s highest price. 80 lowest prlca IL p
TIrUsvILLR. Penn. Dec 7NatIola transit Certificates
openo sO and closed 72s highest prca s04 lowest
prlce. IlS+
BRADFORD, Penn. Dec. 7.-Crule OuVstb1N Transit
opened and closet at 72s highest price,
sOi4 price. 1875 clearinces. l,2Ji0oo barrels