New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-26
The PETROLEUM MARKET

NEWS From THE FIELD AND RANGE OF PRICES
bunder pen refer TO the decline In tho
spot European yesterday spot oruds out the
context and phrasng showec clearly that renncd was
meant This reaction simply the result OF he
bunch after prices had been forced
far proper darence which should rule between
the refined markets and Tho strength OF
general reSued suson however Is net lesssne and
while period dulness looked for by conservative mem
beers OF the trade there nkey TO be revival OF activity As
soon 10 ncean Ircights become more piontifui
There indifference than aught else In the attitude OF
tho oil trade owsn members oil the stoek
Exchange To secure the National Transit GER
caes to dealings IN board Members OF tho Couse
dated Exchange have watched the futs ensrs 10 crush
recognize increased difficulty which he ooe' ooafu
wou have carrying out the policy OF ooyeo'uns A'o
haa ,etro nnaer wing" but they are gen
erous begrndge the idle traders IN se
chance somewhat mercuria commodity 10 iher OPP
for scapng profits Perhaps the most serious ob
lection TO s,o ok brokers' taking hold Of the commodity is their
ionorancs OF IL, and their inability appre
ciate II "a good thing TO Short The rAirrad
art OF wall Street had such fun in bearing oil that It
might overso the 100000 barrels above ground and
hurt the legitimate TT de In the natural
that speech alton m bt develop In consequence
certificate market yesterday was again fhiry atve
and carly dealings prices were hammered dovn TO 50
cents loss from Tuesday night OF 4 Cents But no
long oil importance dslodgel the rail- and In the
trading repurchase phantom carried
up nearly from tie bottom figures The mag
ludo short Interest shown by the fact that
loans made above 10 cents and largo
part OF the business done nt" In connection with
til feature may be that 1t hardly fair
charge full carrying rates and interest against
and then pocket the profit by lending tho custom
oil fiat TO enable the bear 10 deliver IL back 10 him on
short sales We space TO into figures on this
point to-day but holders adord TO suffer the
accusation manipulation By refusing 10 furnish the club
heads 10 hammered by the bears
The news from the oil country was not important Tho
schsge well Rebod has not been drilled deeper yet aud
the delay osKs encouraging satisfactory arrangement
for It's oil OF the producers There
eports that Greek wells dry they
we're not The certificate market closed at
top quota odG
The range prices and the total dealings the Conso
dated Exchange were as fsllowsI
,peuing ......-.......S7 Lsrest SO 3
Highest $50 Final 80
sales OarrsiH
Refined but quiet at 10 cents gallon Abel
test. at all ports.
OPENED AT highest, ~ 70 lowest 3D.: closet
Sals barrels clssrances. 27l6.OO0 barrels
ter, 47.46O barrels, shipments 1895 barrels runs.
rirrsEl a. Penn. Jan 25.-Peroleum fairly ami
firm National TRANSIT Certificates opened S67s
closed at So: highest, 49, lowest. S5lA
BnApFORD Jan. 2j.-N iurn1l fTsIst l,ruiSst,s
opened SIZE amt closed at $50 highest 5SA; lowest
s. y Clearance. $500 ,trrsi%
GITUsyIilR. Prni IAN %. ttpit rrtlt - i;ts,s
opened at 81 highest, 80 a lowest $50 clOssl Ssas