New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-16
THE PETROLEUM MARKET

lhE II f"ObEC" Mhh1HI
NEWS FROM THE FIELD AND RANGE OF PRICES
The developments last week in the petroleum stua-
ton were generally Of favorable character Inc
Washington report Of exports OF mineral oils In March
was published and recorded important increase In
both quantity and value over last year. The exhibit
was more encouraging had generally been looked
for Tho field not startling and the drill In
Reibod. in Washington County and Saxonburg has
vet TO produce results alarming tho trade Tho pipe
line reports March fail record large reduc
ton in stocks had been expected but analysis OF
Il is far from comforting TO the operators for fan
Diminished shipments rather than increased production
are responsible for the comparatively small reduction
I'm the visible supply The daily OF the runs
last month 49, 35+ barrels against 49, 1877 barrels III
February, 30723 in January, 1883, that month oehg
the only since November which has shown
smaller daily average than that Of March. Compared
with October 1887. the month preceding the shutdown
the March average shows falling OF Of 2Sl1o par
res The daily average of the in the first four
months Of the shutdown 40517 barrels or Lloo
barrels more than last months average. The runs
amounted in March 1,220,924 barrels against ue
liveries amour ing 2,07l201 barrels, excess Oh
deliveries $50 367 barrels The deliveries were less
they have been in month since last July iac
explained by tie dulness in the export trade ana
weather embarrassing to shipments. The net STOCKS
a the close Of March held by all the pipe line conpa
niles 25 0S7 531 barrels reduction OF o9so4S par
res from February, and reduction OF 5'2692'9 oar
-els since the shutdown movement went into enec@
has been e594779 barrels and compared with August
1884 when the stocks 49, 0s346 tarels) were at their
maximum, the March figures show decrease oi
13,445,933 barrels
The early reports Of the pipe lines for April LOOK
more favorable the March figures in that the runs
are falling on while the deliveries keeping up 70
about last months average. The daily average excess
OF deliveries 60 704 barrels that this mohtn
promises to curtal the stocks over 100000 barrels
But the prospects are favorable greater de-
crease later on as combined producers are WORK
ing we understand with good chance OF success "
bring Into the shutdown movement some OF inc men
who are now active in Saxonburg and In washington
Moreover many OF those producers who now are men,
bers OF the Protective Association express their WILL
ingness If It deemed necessary in order to procure
better prices, shut in more oil than they ors
nally agreed Instead Of being disrupted py to
speculative crash in crude the low prices have emph'
sized the need OF the producers organization srehg'
ened the cohesion OF members and stifencd the 10Y
atty Of cooperating oil country labor organHsuohs
The their work stands before the pro1uceS
in spite Of the in prices caused by ovcrspeeus
ton and attacks Of bears The shutdown carried
crude from less than 60 81 BARREL and the
average price obtained since Che beginning Of the pro-
ducers, movement has, been considerably higher than
the average for any similar period In TWO years III
nav be that the trade Will have to walt some time De-
fore enjoying permanent basis of value near the hs'
ures which the producers hope but there is nothing
apparent in field in the condition OF foreign ana
home trade lessen the moral certainty OF an Important
improvement in values by the tine rev hoEe HiiI'on
barrels OF stock been burned up Confident
In this VIEW the organized trade is willing to walt upon
tho operations legitimate influences ana the aso,
cated producers viii Dc In more atnger an T mppsy
s sa sss@s e's EZRA ssSs SsSn
Igs 81 n b AP iS 500 The h ds have
SS7 d barrels s, s.IG AD s ae' o. s IL MaS
lures from April 10 charters to tho 18TH inclusive
were follows
fetal ' $3: 5 S5s4 si sS
While exhibiting considerable irTegularity the crude
certificate market last week reflected cessation OF bull
The afvanee in refined late in the preceding week
brought Wall Street support he early dealings and
price on the recent break The West appeared reluctant
10 help this moyement and bear resistance fIG SS al,
vance in refined gave the impression OF favorable
this coupled WITH evidence that the shutdown scheme
was as vigorous ever stimulated buying by the West
he Hneeuisdn has not escaped FROM narrow limits and
the bear party viii take every advantage OF temporary
speculative position 10 stronger than IL was month
s and 0srs unlocked do qI 10 Pee D 3
vestments on the reactions. This changed temper r.
tn 5s the bs @ason oF
saying on Saturday, The petroleum market today was
the present, and perhaps so Gems soon again. The
producers are Disappointed Of The failure o. the oil
ton and they tightening the restriction OF produ.;
securing lower sock." The market closed firm at the
spacious and handsome board in its new building
al Broadway Exchange place and New-st. The growth
While the members retain able, efficient and indus
trious q management that which they have enjoyed
The Of prices and the total dealings in National Nat nal
Transit certificates at the Consolidated Stock ana re
troll