New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-02
TIE PETROLEUM MARKET.

NEWS FROM TIE FIELD AND RANGE OF PRICES
As the closing SATURDAY. wound the year 1887.
1t may profitable take backward glance more
ground usually covered In weekly review The
cid after under the influence Of the depression
which began Of lSs5s6 ended with tho last
months establishing material advance IN prices aud
securing conditions which promise substantial ana mpor
tant Improvement the industry. Without belittling
OF the Producers Protective Assocation II
is only proper to point out some OF inc
eature OF the situation which have been lost ght
Of by most traders made the second which
failed to sell above 81 but the price came so near that
marx break the history Of the trade IN 1886 may
have been repaired But tho unprecedented
character OF tho market In 1886 undoubtedly injured the IN
dustry by making prices normal than high
ones although the producers have demonstrated bv expert
figures OF values last cost the trade as
whole running into the million. How far the natural
the speculative pendulum In the direction OK hsher
prices may GO certain that II there was time
oil justified in ruling above dollar 1t is to-day
without tho shutdown considered the course Of produc.
ton evidently has boen the decline within the last few
years, big whtesand pools discovered after the black
reached their maximum stayed what wonld
otherwise have been important decline In output Inc
maximum above ground reached IN August
1884 when they 39053464 barrels The decline
in old production reduced the 329456ls barrels In
April, 1885, decrease OF 6l36St4 barrea Then came
wave production from the Kane Washington and M l.
pools and stocks increased until they reached
September 1886 IN increase however
only 1874 46 barrels With scarcely an interruption the
visible supply been since that time on the down grade
combination circumstances
pIoong depro The whole country was oeln2
actively dre gas and the trade had before The
ected opening ola new oil reshet
Borrower prolific fields OF Ohio wrs uncovered aud high
hopes entertained that the product could be brought
into competition with Pennsylvania crude Russia reached
her and addel to these influences
conflicts controversss between the various
branches OF the business
warfare reached its climax in the early part OF 1887
IN tho fight Bin ssey BILL The bill was defeated In
the Pennsyvan in April aud the market VIII Oh had
fallen from 724 cents Jannry to W cents IN
rallied The "bscm" did not hold Tue despair
ing bf producers continue and IN July on ne
rich gu5hers at Wa, gton cfue SOFA
ever since
has bcen moving upward on natural re ouhu
values. All hrOu III last year the een
has been downward the shrlnk-
toward the close OF the year IL Is
estimate ising the pipe line hgures 70 lac
as a gui>) place the stocks December 81 ISL az
20 500 barrels THIS shows reduction OF lo1s5io4
barres from August o. iOo. 3G4 barrels from Janu
ary 1856 of 5jsl0G4 barrels rom september: is9o OF
barrels fro July 1881 Throwing out the last TWO months
of the year. reduction stocks from July. lssf was
lO7 SIG barrels october 81 and OF A. 2o4 Darres
from 1886 The following table compares inc
stocks (n barres) for the last two years