New-York tribune., 1886-02-01
TIE PETROLEUM MA RRET.

1t cannot be said that the statistical situation
OF petroleum has undergone my radical change, though
last week the speculative advance OF nearly cents
followed by break Of over 10 cents per barrel. Manpu
ation has dominated the market, and iu the main IL
be directed to reduction OF values. The trade
Is bearsh and the traders at the exchanges hayc
made money right along since the disastrous break Of
last November by selling certificates short. one who
defends commercial position OF oil is looked
with disfavor, and the "pkrTs are more anxious So
learn what this or that spculator doing or Intends to
do than what the actual condition OF the business is:
A great point made by the bears Is mat the usual
method by which tue OIL exchanges compute the home
consumption OF petroleum --nansy, by deduetlng the
exports FROM the pipe hnc shipments or deliveries
shows that in 1883 the home consumption aver
TGe TGta poe In' lhs de1erts G1 n iss5 @ AVERAGED
GG.Oo6 barrels day. and the exports arc
syTn nrFs t., nome ass lssi sT ths deliveries
averaged 5697 barrels aud the exports 42 06i barrels
However accurate I'M. method calculation may be for
rm Of years. Il certainty wrong for last year IN tho
opinion OF perts u the trade AM have taken tho
pains to inquire of men whose Opinions do not favor
higher prices for tHe crude product It's true that tho
introduction OF growing tow ns dsp tces to con-
siderable extent the use or petroleum rs an imuant,
but other hand is Reasonable suppose that
tae railroads last year nd the rcvivng m indfacturng
tnan I'm lss4 wnout the grow th Of the de-
mad for cinal purposes, tor fuel and other pnr-
"rnf bonht Ne mink tGst NOS OF the dealers in
nrtroenm wnethr in its crude or in its uanufactured
state will that estimate OF an Increase oi 10 To
per cent the consumption OF the article last
year ID conservative one whatever tn eOnfesSediy
adequate figures available to the general pubic may
show for 1883.
The full returns of the report of development work
the oil regions IN January will not lie received by
the Consolidated Exchange for lew days but the pre-
lnin, ,ry reports already indicate slight reduction IN
production and In prospecting work as compared
with Dccember But the "well news" last week was
what is called brarIsh. Several wells In Washington
County and In Mckean County Uhe Kaue hrhI. Penn,
BROUGHT ia a. 20 proie"rs. hut 1t was evident
weeks that these wO districts were hound 10 add to
the production to cOuSttrrA"lc eN eat Yet tho
decline In the old oil continued be-
lief that the sor- Of oil above ground Will persist in de-
when period OF months IS con ldered IL did
last year spite 81 the pbenon nai DrriornsEces Of
Eas, is filed to Its u capacity there may he such
increase pipe line deliveries that VIII put aston
shng phase the question OF the relation OF the sup
ply Of oil to the demand.
rne pipe line runs IRON January ] to IS. acreage
ber ss5 o329S barrels m January, lsSj. and 5s9l3
barrels N Jnuary l-sL TIE daily average deliveries
are are so $50 6arreI', as 90 c9@%Parsd 9@1P with
January, 1855. and 54.407 barrels In January. 1884.
rhe charters 3s373 against iO.3O2 bar
res in December 1884 barrels IN January, 1885 aud
30 500 barrels IN Jauualy, 1854 The pipe line exports
thls year up to January . charters TO January 30
were a. appended:
u Runs Dgiysris; @ $50 Deyeres1 Ave, les ch'Tters; ;
k1eTae 5i2i6 $3.50 sDis sgSS5
A dcci.ed'y acty~ speculation In National lransn
certificates took place last week But the inward move
which be sar at the close OF the preceding week
eliminated Tuesday after prices had risen from s7
10 "2lI cents From that Tine on WIN only ordinary
reactions market fell t. ~ iaGS2As cents II ures
cents below the extreme low price touched IN the
panic or last ACKNOWLEDGEMENTS. The bears had to
help them the news OF Incoln.n 3wels In Kane aud
Washiggton Counties and a Seiu onSlr cultivated
opposed to any improvement. carrying rates which
early were Hat To premium. rose to 6DV7O cents,
tlrt. but there rather general expectation OF
ivncc IN a few days at the acst based ON tn, squeez-
Ing OF an accumulated short interest
The of prices and the total dealings al the Con-
sonlated Exchange for the last Two weeks were as