New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-11-19
THE PETROLEUM MARKET.


NEWS FROM THE FIELD AND RANGE OF PRICES.
The October statement OF the exports OF mineral oils
ami their products from tho United States Issued by
the Washington Bureau of Statistics, proved TO he fiat
cring TO the American trade 1t furnished conclusive
evidence that the much Wanted competition Of Russia
still Is unable to threaten the stability and progress
Of the homo industry. Tho volume Of exports, as
yell as the total value shows increase over De-
Obcr, 1887 and the prices realized by the exporting
trade about the same they were n year ago
There increase in the amount Of oil exported
last month, compared with year ago. of 4,252,013
gallons and increase In the value OF $500, 16l.
Perhaps there Is significance in the fact that thcic
was heavy decrease in the export of crude oil I'm
October; in fact every item Except the tri1ing
OF reduuml which goes TO make up the aggregate OF
mineral oils and their product shows falling OIL
in volume and alue excepting Illuminating and lubri-
eating oils. In October the amount of Illuminating
oil exported was 46,O21 ,o04 gallons at value OF
1857 215 against 80 55s s4s gallons and 90 1854
In October 1887, an increase this year OF G,462, 246
gallons and 1920 733. The exports Of ubrfcaDg and
paraiine oils last month were 2,420,2s9 gallons,
valued at S412057, compared with 2,2o0,4l3
gallons valued at 1894 $780, year ago, increase OF
l6o576 gallons aid ST 500 in value There has
been heavy falling of 81 the whole volume Of oil
exported since January l. but in spite Of that the
value of tho exports has been considerably larger.
For the first months Of this year the shipments,
as compared with the same period OF 1887, decreased
2s,75413 gallons, but the value of the exports was
larger by s756,oo6. The comparative figures Of all
oil exports for the month and year ale appended;
MONTH OF OCTOBER
Gallon. ;Ss III !ss Inc csssiSi
JANUARY l TO OCTOBER 81.
SoSn' Ss R Ss sSs55s
The news from the petroleum country last week was
not Of special Importance, and to say that is to
stamp the character of the advices buish. There
have been many wells completed in the last two
MONTHS and the only important development reached
in Clarion, but there the actual gain TO pro-
Which, he Ia the and Piper
gushers caused; There are about 800 wells drilling
of bearsh Developments from this activity OF the drill
unquest0nably tends TO restrain speculative ventures
OF small wcli territory, Clarion remains as the only
point where gushers are likely to be- struck and the
all go to prove the nreabity Of that source of sup
Ply 1t Is probably stu too early to measure the
rial consequences OF an opening cleaning out, pump
Ing ETC. OF the wells shut In under the old agreement
for large Increase In production Without the check
Ing of the steady dlmnuton Of stocks above ground
The complete returns OF all the pipe lines for 0cto
Der showed total supply Of merchantablc oil of
20576064 barrels, against 81 $50 l2l barrels in Sep
81 OBJ 1852 barrels IN October, 1886. The pipe line
figures for the first half of November point to reduc-
don In net stocks this month OF about 100000 bar
rolls The daily average Of runs has been 1900
barrels, against 42,Ill barrels I'm October, 1855
81 1914 barrels In October. 1857 and 4O,242 barrels
In November, 1887; ~, 146 barrels in November
1856, and 60,903 barrels In November, 1885. The
deliveries S54S6 barrels a day, compared with
80 939 barrels last month o4.225 barrels in October
1887; s4,O24 barrels h November, 1887 81. III bar
rcls I'm November, 1856 and 90, l67 barrels In No
vembcr, 1885. The charters continue small, aver
aging only 36006 barrels, against 1880 barrels In
October and 10, 582 barrels In september The pipe
line figures reported from November l to 10 charters
to the 10th inclusive, "a follows:
Runs Deliveries deliy Charters.
Az. per day . AZ 200 s5.4S6 49, III SO, Oo0
There another shrinkage In the volume of
speculation I'm crude certificates last week, and for
the fifth week. the final quotation substantially
at s. cents. Little significance attached TO the
daily operations, and after squirt from 50 LA
~ 10 cents TO 81 Ia cents. there was falling
on to 81 7-5d So SO cents Outside interest IS lack
ing, and both le1ner and producer appear to be
sufficiently satisfied with the existing basis of values
to make no exeron to produce change. Every
reason can be found In the statistical position to
warrant advance and the commercial outlook
presents no unpronisng feature; yet the speculative
position looks discOuragng TO every one who expects
immediate profits. There were 10 indications in the
late trading that anything more than the recent
narrow fluctuations would reward dealer through
the coming week
Tho range Of prices and tho total dealings in the
National Transit certificates at the Consolidated Stock
AMI Petroleum Exchange, for the last three weeks,
were follows: