New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-04
TIE PETROLEUM MARKET.
NEWS FROM THE FIELD AND RANGE OF PR,

NEWS FROM THE FIELD AND RANGE OF PRICES
1t is dscouraeing the producers Of oil who seek
ing TO establish their industry upon profitable
the price Of refined oil reduced SIS in thee days
On Friday last the price quoted "a cents gal
Ion; yesterday It ou0cd at IS cents. reduction
Of 1S having been made each business day
Friday night Such abrupt decline Is disheartening TO
investors we'll SPECTATORS, whatever be the
ditons which Justify It. The dulness Of the trade
has been recognized fact for time and 1t appears
singular that II the conditions did
warrant the basis Of values which maintained through
the winter the response quotations for refined not
made gradually. Perhaps the price Of refined has
only followed the o. crude but IL IS not improbable
that good deal the pancky feeling certificates
might have been avoided the refined market had earlier
admitted the necessity Of recognizing the slug
gshness the demand But, dismiss from considera
ton what has passed history It be unprohta
bic at present look few the face. The on
City Derrick" appears speak with show Of author
ity when 10 deECunCcs the circulation OF lies concerning
the attitude Of the Standard toward tho Producers Pro
tectve Association" 1t The friendly relations Of
generally recognized ny trade
While tho wIeCkers talking
with bated breath Of trouble between the p. A. and
the STANDARD friendly meeting between representatives
Of the Standard and the Executive Committee OF the
p Z. A. being held In New York. The Derrick"
then quotes telegram which received from gentle
who attended the conference, declaring that 1t
entirely satisfactory to all concerned" Welinformed
producers here tell that there Is the slightest weak
depression they believe will lead adoption
stringent methods reduce the stocks above ground
certificates available
supply the actual needs OF consumption irrespective Of
the amount Of phantom contracts which will have be
fled future time Ia spite Of the recent addl
lions production the pipe line figures for March
Will make favorable showing. So far reported the
last month amounted TO 1,1934ss barrels. daily
average Of 3s4ss barrels the deliveries L9So9e3
barrels. daily average Of 04902 barrels showing
OF deliveries Of 7s7s30 barrels 25414 barrels
day The charters amounted 99S.923 barrels.
daily average OF 80 223 barrels The dness Of
foreign business may be prolonged for time but
is morally certain that good demand will be enjoyed
later and there suppose with the shutdown
movement carried out, hst purchases will not have be
made better values Spectators have been hurt By
the reaction in prices but the producers union has
cured higher crude through the winter than
has beer attained FOR long time and there s promise Of
further the which likely
investment buying into the market any possible
temporary success achieved by schleges7 and pro-
fessional depreeiatOrs OF values
The crude speculation yesterday continued active and
further brosk to rs IL made. Evidences OF
support then appeared and encouraged BY the improved
Of tho railway speculation and the buish
character held the market rallied
There Indications o; considerable short interest IA
the MARKET and tie close fully steady.
The range Of prices dealings as
lows! ~