New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-06-22
THE PETROLEUM MARKET.

NEWS FROM THE FIELD AND RANGE OF PRICES.
A decline Of from Wednesdays close in crude
oil great comfort yesterday TO the beaf howers the
floor the Consolidated Exchange and one might Judge
from their attitude that the price OF the commodity was
destined sink Of sight In the present dull cond
ton speculation the traders able to make
quite impression in the bull ring and they are as
with oil 20 cents they were year ago ~
60 cents prior the advance to 81 The improvement OF
autumn many skepcs and these same
skeptcs are their efforts to depreciate prices
after been liquidation that covers oeciihe OF
about 80 they year ago when ngres were
on today's plane below it. Even some OF those men,
beers OF the trade figured out that their interests
as producers price for crude below slas 20 90
not appear concerned at existing depression and nave
less faith in future apparently than they seemed
70 have when 1920 cents higher IL Is one OF tns
anomalies OF the petroleum speculation that there ara
persons prlng themselves enemies OF monopoly VINO act
and talk a. If the punish the leading refining
was To help 1t to secure the crude product at o. low
figure a. possible To an outsider IL woula seem hs' 'n'
best service could be done tho producing interest
would be to give full credit to those facts when SuPpor'
the value OF the needed by the manufacturer On
,he tber hand while these OF sarcasm . rejoice
at any back given prices OF crude there are cohso
yatiye men point out that there ha'e Oeon '0'1s
months OF depression the MARKET that consumption o
q onstripping the supply steady rate, which Wouia
have seemed remarkable two or three months dsoi Tue"
ok above ground have heavily reduced since last
autumn and now furnish small basis upon "hch " Oa''
nocnIaon that the best Of the year IS not Iaf
,a from The refined trade and tSat It's approach will be
,owed BIZ the difficulties and expense which always nam
per field operations in the winter Those VINO 'ane ~
vie do not deny the limits now imposou UPON
ne.,o and they lay claims TO such gifts OF prophecy
a. can call the daily turns" OF market innuencea W
gambling considerations even limit the eA'ens "
hh bred Of unookedfOr mining developments
nav ey,end But they look with confidence INTO the
,ure for reasons which partially reciteo ABOVE a'
bev hold that chances profitable investment lie Oh 'e
d Of purchases on the sumps rather than snort saea vi
rallies ...,a
Yesterdays certificate mIrket was on aoou' VIC '""e
~, activity as Wedne sdays 1t was unstable arouhu -
een,s and the West seemed disposed TO SELL although e
transactions were not on largely Significant sc~lc Ao
Calhoun well beyond BakersJown made Small 10" anu WV
deeper drilling OF it is again postponed possibly 70 a
bicger ,ankage to b. erected The oil trade sOi leS
bat new supply may be reached In this locality anu '
uncertainty Of what It may expand 70 Is enough III 't
nrsent stagnaton Of speculation TO give cheek 10
II is a fact that the developments In tne "es9 "hiS
far have not fulfilled expectation OF tne pears nav
cue,ced decline that big increase in producuOh might
warrant shart reaction is Inevitable IN cas-" ths
-Ions OF big pool are disappointed and 1t IS even aeDa
atle whether the opening such pool wouid hoe nhu ~
., had exhausted It's effect beforehand one mas " "
hack no further in history than Thorn Creek 70 hpu ~
a, Instance in the trade. The crude market oio'u az
about bottom figures and appearance OF weakness
The range o. prices the total dealings were a. O