New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-15
THE PETROLEUM MARKET

NEWS FROM THE FIELD AND RANGE OF PRICES
Field news still the attention Of traders 10
extent which hardly warranted but compared with tho
susceptibility Of speculation to It's influence tho
effect produced is only trivial The OF the Fergus
wells at Washington given Yesterday at 80 barrels
for No. TO- barrels for No. and ID barrels Der hour
for No. o. Fergus No. is nearing the pay streak ana
IL resembles the early OF the big NO. bus
&c is an inside' well which ought to be good one. ex
cept for drainage. The McBurney No. well started
lowing Sunday night the rate OF rs barrels an hour,
but yesterday afternoon it had fallen on to 10 barrels an
This well at better rate than had RehehJ
been expected and is important than Fergus No.
In indicating little wider field for oil In their re-
cent circular situation the Executive Committee
Of the Producers Protective Association thus refer 10
the Fergus pool: The Fergus farm wells and otners
on the adjoining being used as scare
Cow 1t may well here to refresh our memories BY
giving the result wells completed last year on the ad
joining CMcKeowns MARTINI farm. The average for July
last OF the five Martin farm wells was 3Os2 barrels daily
August 10 wells gagged q 224 barrels and two new
wells sand gagged 1907 barrels; total 332l barrels
daily. September the above seven wells ana one now
one gagged only 1887 barrels daily. Last week tho
production eight wells and three others nnished
since ON the same farm but 1888 barrels daily
The Fergus well is not nearly as good producer ~
Martin No. and the result on her OF the Incoming
OF wells but foreshadows the future OF this present
annex to the pool entirely unworthy OF the at
tention IT, is receiving circular the exDert
figures Of previous circulars showing the cost OF produce
ing oil In white sand pools from 1888 to 1887 In
elusive been about 81 20 "a DER BARREL and the
average cost production in the Bradford and Aegany
fields last year have been 81 IL 40 Der barrel
The PRODUCES add: Recent events have seemed TO
conspire utmost the stability OF our member
ship but place have they fatered. and to-day We
stand stronger BEFORE When It is considered
10 what figures the refining interests
have reduced refined oil since the Standard got on It's
feet the foreign well be tempted " consider
the question whether In view Of the position OF crude
production, the of low values is not at an end
Yesterdays certificate market enjoyed some stir early
in the dealings SO 1886 3S cents TO 81 "a CENTS
this too spite bearish from the McBurney
venture Later report OF a showing OF oil In well
some seven miles from Saxonbure developed hestacon
and the room traders let slip their goods causing sag
cling Of prices to the lowest figures again. The
result is not surprising dscouraginR for the markes
reflects still Of important pressure to SELL ana
there is disposition utilize reactions for the purpose
OF picking up cheap OIL The close was without featues
but asking prices s above the last quoted sae
The range Of prices ane the total dealings were a.
folOws:.
Stock Exchange Consoldated.
ng.--
highest Ss,.
FINAL. TIA n10
Refined oil steady at the full figures OF saturoAp
all