New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-07
THE PETROLEUM MARKET

Nryys FROM TIE FIELD AND RANGE OF PRICES.
The crude oil market yesterday enjoyed sharp rally IN
prices although fluctuations variable and stu re-
nected temper bred By the recent severe de-
cline The extreme gain from Thursdays lowest point
"a Ii cents-whch the lowest Of this year. was Ia
cents but the the top figure was made by
such fluctuations rs to 20 cents then down to
IS and then up 10 1-2 ceuts. There was renewed
attack trading which carried prices OF over
cent gain Thursday night exceeded two
The improvement partly be credited 70 the
buoyant temper developed In the railway share speculation
reflected better prospects the general
situation 1t will permanently beneficial petroleum
fact should the business and financial conditions OF the
country construed unfsyorable TO all
forms OF speculation change materially for the better 1t
unlikely strong features peculiar to OIL which
prices from 80 81, would reassert them
selves with increased energy. As 10 the oil market ITSELF
the low prices ruling have largely dscounted possible
further bearsh developments IN the field while. In their
absence, for the legitimate phases
the Industry reappear in the foreground We do
attempt call the speculative turn for bottom OH
but OF the drop Of 20 cents per barrel exist
ing facts that have obscured Of late likely TO at
tract attention Of investors. The Producers Pro
ecve Association has been further sohdaed by the lesson
OF the break and tho time there has been no Impair
ment Of the between It and the Stand
arb OIL interests Consumption makes steady progress
depicting and the coming May demand for TO
fined Europe will have be almost entire
u met, learn from members OF the trade, BY new
purchases The pipe Line for the first four days Of
April amounted 1872 257 barrels, daily average OF
33O6i barrels The shipments show tendency 10 In
crease deliveries four days being reported a.
27l 0o4 barrels 67751 barrels day the aveage
This shOws Oi deliveries OF 13J, TAI
barrels daily average Of a. COZ barrels In reduction OF
The charters Tor Ave days have been 179,6s2
barrels So $50 barrels day again rejecting an ex-
cess engagements the foreign trade the
current production. The bear party has by means
receded from Its position Of hostility TO higher basis
but Is operating plane 20 cents below top figures
below the basis which producers claim Ia
needed their prosperity Their raids to be
expected and there indications yet Of aggressive
policy part the bulls But there Is decidedly more
OF disposition buying ventures the reactions
than steady the recession from
quotations The borrowing demand for certificates
good
The range Of prices and the dealings fol-
lows:
Stock Exehange-openng rs highest, 10 IA lowest
rs 49, final, 70 5e. Consolidated-openng, rs 1-2 :
highest 10 12; lowest rs 9s; final, 70 IA. Sales,
bsrrels-stOck Exchange 1e73ooo; Consolidated, 1,s67
ooo
Refined oil unchanged at 7 IA cents per gallon
Abel test, at all ports.
The National Transit Company announced that all credit
balances and outstanding certificates subject fire
Of loss by IRE Of No 1s49 at
East Parker Clarion County, Penn. The VIII he
announced later.