New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-30
THE PETROLEUM MARKET

SpecuatiOn in pipeline ceTtincates Is RESTRICTED 10
narrow limits few satisfactory features at the
moment Nevertheless the market has exhibited consid
cradle stability, and the average price ruling for the
month OF April above 50 cents about 90 cents
higher than the current figures OF year ago Willis
such basis values is far from rejecting the strength
OF the commercial position OF the commodity and provides
no proper remuneration for the producing business &C
codng to elaborate tables published some time ago by
Tie Producers Protective Association the fact that 1t has
attained and held for long through period OF
most unfavoabe speculative conditions Ia encouraging TO
the in the shutdown movement to persist In
the work they laid out before them Prices for oil
hardened since last autumn on commercial consdsr
and the market is yet to be touched by the specun
tive snirt which is reviying Wall Street We do
not pretend any signs Of outside element enter
ing petroleum but the ease OF the money stu
alton and the security apparently given to 1t By tho
Treasuy's action and attitude important aids to the
holders OF crude certificates and might readily be ayailed
by strong leaders to give speculative stir 10 the crude
1t is hardly to be expected, however that Ger
hncates should develop decided life so long as the re-
fined situation is in its present shape. Duncss rules In
in this direction and the purchases meet tho
calls active consumpve season abroad Will not be
felt time yet Europe Will hold on as long as
possible hope OF securing lower prices, and every
will be made TO magnify the importance OF usslan
competton the latter influence has about reached
It's maximum because Of the nadequacy OF transportation
facilities placing the Baker article in the marts OF
Europe and the East Indies while the steady growth OF
consumption rapidly allowing for even further growth
OF competition from the Muscovite without threatening
American enterprise.
More or less talk is still heard Of artificial nature
Of producers union bd this ground has been 80 fire.
oueny gone that 1t is perhaps Improbable OF present
TO discuss the question 1t should be remen-
American producer has practically but one
purchaser sell his product to-the combinations EN-
braced in the Standard OIL Trust The advantages pos
by solid organization OF that character In secur'
ing its raw material scattered crowd Of men work.
ing for end are obvious and roalizing that
fact part Of the Oil mining trade are snpy seek
ing TO fuse their in order TO DO able 10 deal ad
vansgeously with the chief purchaser. They IRE seek
ing by the most reasonable Methods depletion
surplus stocks and arrangements FOR regulating the
future output TO the needs consumption Fortunate
w. too the shutdown with tho Standard as
smcs the neutrality II the support OF that powerful
long the producers fulnl their part OF the
contract is certainly being done hut neither Wall
Street nor foreign tado realized the deermina
ton with associated producers have engaged In
their task Of establishing basis for permanent improve
Of their industry.
The current month exception tho previous I'VE
months OF shutdown in It's reduction OF stocks The
Of output In the spring season has les
sened the wonderful which the visible supply was
burned up in the winter but compared with previous
years the curtailment OF stocks still makos remarkable
progress. Is is reasonably that the monthly pipe
line reports will show reduction Of over 100000 bar
relsa almost unparalleled previous to last Novem
ber The field last week was comparatively unim
portant mainly cenrng at Cannonsburg, where
the deyeopens still far below the early expectations
Of the bears There is locality in which the reported
work done and doing is Of character to promise any
change general tendency Of the visible supply
ment-
The daily average pipeline runs in April 0acking fous
days 1926 barrels against os 0e5 barrels in
Apr 1887 CO 800 1885, &C. 300 IN 1885 and o5,S14
barrels April, 1884. The deliveries have avenged
g. S6 barrels day, against 1881 barrels in April
1897 60 in 1885, 1926 in 1885 and 54744 barrels
in April 1884 The official figures from April to 90
| charters to the 27th) as follows;
Total BIB e;$Ssaa iSss5ss d$lss5 Ssss sss
There were only occasional periods of activity In the
certificate speculation last week. and those the
product negotiations assisted by bear rading There
! were scares the mystery" well beyond Kane in
the socalled Dew Drop" district and ungrounded
ports Of Generalization" in the refined oil markets
The success OF these influences the depression were
reflected reversal OF the confident tomper shown q
large part Of the previous week ana tai in PRICES f1
sales Of 74ei coo barrels at the two exchanges to
s s CD r. s. s. &c
Floating certificates scarce although he short inter
Set has been sensitive in both direclons but has raj
lied with ease on light SuyE a1 Of ' en
oil appear be well protected with hnan;, snsws but
they f anS mOe S FEELING existed e d.
trading market appears to be AZ Una, rs prUa nor
chsses on the reactions .,,
ienm Exchange for the last three follows
Week ended AprnI4. APRIL 81 April ~
2GsSRias ::.:.- s sss$ g. s.
Lowest. oo,4 saz a.
F s s53sSSS l :5ssSSS s sssSSs
ro,,, .,,.. barrels, II, o55 900 25.823ooo ii6ssOOo
The refined market lsnEuishes on account OF the dni,
and prices are 1s cent oMef az oo
Abel test, In barrels ana 90 Genus DOT faon
/ In cases at all ports