New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-03-19
TIE PETROLEUM MARKET

NEWS FROM THE FIELD AND RANGE OF FhtVE''
Last week Afforded opportunity for decided test OF w,
prtroeom situation aud 1t is un"e naoe 'os. " -, or
moi strength For the renarkhpie :"
MonSov New ork weslera oil MAI ketA
and each . stand alone. Here III inc cy 'o' wv -
su iness on u %" - from necessity little More than
nominal During tEs unprecedented emo&i eo ~" W ,t
cam, fren tho West bsarish Ono VI tic oi- 'SS"
washington "gushers" opened siGgr sting te o"'o
OF an ex ensiou frriiio lands OF sono 'mpor'1 a..
m, wells sho we'd declining tendency ana the dr
may prove 1t be only ioeky strike h b'e ho~''
tho spots of thai spotty tsrrtnr' Az CiA'"n ~" ~
TayoIst,wn work continued TO rrrovo some A ',,
more than results have lussihoL YET he'l.t H
new, nor The absence NewYOrk support was Aoie I"
depre.s the markets 10 the level OF the peos
,,. elm,
few months ago would have been looked upon a.
high. ress upon The uh'inps.eh - ...cs..
the Producers Protective Ass"ciaton i"o 500 -
achieved Is surprise the leaders themselves Ipo
loyay OF is noteworthy, although WV ~
dmcers Of violating their Pledges "ore d. w.
vim exnn.,u last week from tic orgauizatiOn Meat or
those opera who only the Juggling " , 90,
ZION ip the oil market wa, furnished by an exhaustive ~
dress ssn.d BY the priucers alive 100 Ia 20
tho outlook This shows why. as ihh -,
marked Last week. the ira 10 is beginning 10 measure .
strikes Of production their true worm ~hs" oo
p.rod with tho Of tho stusuon We S.
room for only brsf extracts to-day "n' WV ,.-...
figures and arguments "t tho "''''
At future times sierrin4 the address OF November 10
the producers Ths then shown (ot sro'nehk
from tho folds Of the cent suppyl was 81 80 por p
rel eIcu-vo OF the cost OF the lands hrl.,e' - ' a..
paid very out exceedingly nArn 1" on
innate. certainly should OBTAIN ~ " pos "N ''
prndutt TO make bus OF reasonao'o p'o"'
Pr-vou, IN profncng Bradford the business was hhs
munerative at less 81 barrel Twenty-Five AMI ono
half per OF all wells dr led In 1887 were Try an" NJ ese
per cent OF small" The address reviews
the stssD growth Of oonSumpIion points ." .1
Instability snc n,u fH,asncy Of the white sand
POOLS aud that the p@tmA a"Dnno
In tho void wells sl absorb the oil no" smut ia
wlon IL Is oponud mp NovemDsr. valuable iaples
dsonstrste position OF production AID the ehso"''o
90 mittee shalt como tue oil |" supply '"e
constantly increasing oonsuVptsr OF the future' 40 pr"
ducrr ect. tat Bradford shall 10 iounh an" "o
have seep tina, hol Is cannot oo roe' UPON
h2v the st0 absVo Gun" ~ All
amount shall healthy reserve. without O"'n1 MI
undue weight upin price OF tho commodtr - VIC oer'
"a ulv shall by OF November noS we all nave
mad. the situation under the ordinary resons
OF demand supply will assure US epuD7r~'o peo'
II nros argu show. tho sht shea up" 'Ho
subject by the foregoing tables that
OF tho csmiug prevent such REDUCTION OF
s'Ock-"
The fact that petroleum exports In FebrnrV were
rer than u Feprnary 1857 aud that the cAriers t-is
month continue larger the proihctDn. proves 'u~'
price, ar. yri the point where our fseisn Ao
~oull be ni.rrup For little to" weeks inc dty
average 81 has 100 barrels Or 6o" OAR
rel. above tho daily To runs nave tsoaHoo
ri lS barrel. p.r dar a. 1877 barrels IN Feeruy
las as or ~ March, 1897 60 j55 March, 1886 o'on'
IN 1885 nf G6 POS March l1Ss The daily average o. 80
vrre, -eu barrels sEatnst 1881 Ia FSDruAy
l-Ss Is 55j Jsfrels March. 1887 Od'li Va haI'n'
I-s; Clos 10 March 1888 and COiiH IN MACE i7't'
TN. daily y,rage rrrs.- del vcres ms m"stl
ia. - 5il barrels Pipe Line figures from Naroh
10 fl tch.rt.ra 10 ths l6tl iHon.yol wrS "a follows