New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-04-01

A Uis1pRB0A0Nc~
animation Of the petroleum trade perhaps snoala con-
centrate attention more closely upon the commerciM
and statistical positions. Yet 10 y doubtful 'ho
sats,scai features Of petroleum need adveFsins fof
tbav are written ana printed daily. 30 that he tass
runs may read. even II he does moi heed. The ooh-
msrcal siason Is strong also, especially win resstu
to the foreign movement. The demand tor OF i~
export Is unusual for this season OF the year, prices
arc sustained for refined In spite Of tho popular sDecu
lative scepticsm respecting the yalne Of crude and
the charters continue to be taken ct liberal rafe'
with only one day lacking, March's figures fAn put
little below the total amount of ppe-iire rune re-
ported the average per day Of charters being A0l20
barrels against 20 0Os barrels in Bebr1AFy and 4ela'
barrels In January. The field news last week. howN
ever points to material increase In production ioF
the next thirty or SIXTY days. March Will certainly
show an increase IN output over that Of recent pr
eeding months, and April e bound 70 enjoy siii
larger production than March Developmcnta In the
Taysorstoprn eld IN Washington County Penn. place
that district IN new light az pfoIno pfo0ucer OF
oil and assure q coed addition 70 the total yea.
The test we'll ct Nineveh, Greene Courfy, points 70
the opening Of new source Of supply ~ oiAfion
County tbs Lucinda strike will ircscaso operations,
and there is every prospect Of profitable pool being
reached there: down on the West vrEfnis frontier
OIL Spots are now assured, and IN Allegheny County
Brush creek's latest we'll wtdens che productive area
Added 20 the st1kee Is tho fact that cdrnng IN
territory that had besh practically abandoned or only
partially developed has returned 70 the LUCKY pro
ducers who made the hiss wells Of Snian but paying
Size OF course the akeads OF all these districts or
pools WIN Be blown on the quickly II the use Of
the drI d FASTENED. and, Judging b. the conduct OF
rrOducers toP the last few months, the policy % push
ing the production WIN be followed in many direc-
tons. The consequence WIN probably be sD impcr-
tant rise In the volume OF output this month and
rapid falling OF toward new active export
- nha m
tS1 IL Der barrel when the premium Is added to tho
cettacste PRICE, at cay, 90 oerts) "a Sheonsly high
10 stimulate the ri end the Standard on interest has
Apparently accomplished the object Of squirting on new
deysopucnts 20 as to save the rapidly deenng yfeid
In the petroleum regions.
nut the growth Of consumption may be relied upon
TO absorb all the new Oil that the Pennsylvania country
can furnish without checking the disappearance of
stocks above ground The deliveries at present are Of
magnitude rarely witnessed at this time Of the year,
especially aer the liberal movement Of the last few
months Tho ocly In sight are only about 49, 100000
barrels or only 60 per cent OF ono years consumption
An increase Of so per cent In tho total production
Of the oil regions viii be required to stop the rcduc-
ton of stocks, and conservative membsr of the
trade VIII concede that, except under extraordinary
developments tho gain can be half OF that percentage
even in the height OF tho productive spring and summer
months. In other words, should the most sanguine
expectations Of today's drfers be realized, there Is
every prospect that the year 1850 viii close with
stocks reduced to st least 100000 barrels, or only
twice the amount USUALLY carried by the refining In
terests, "a commonly credited 10 them. The maints
nance OF the feshaoiI premium and the liberal pur
ohases Of OIL territory of any promise IN behalf Of
the Standard and its friends would scsms 10 Indicate
that no era Of depression was believed by them 10
30 in mont Of the trade The pipeline runs nom
March to % have aggregated 3e4,254 barrels. or
1924 barrels day, against daily av-
erage Of 4T,1oo barrels in February. 1921
barrels in January, 1882 42.7ee barrels In March,
1888 o6o1e barrels in 1887 62,555 barrels in 1886,
and $1,000 barrels in 1885. The deliveries have
amounted to 2,o2s, $50 barrels or a,4o0 barrels
day, against nl averages OF s1ss71 barrels IN Feb
ruary and 77194 barrels in January, 1850 ,s1e
barrels in March, 1885, 10 555 barrels In 1887 314
barrels in 1886 and 81 025 barrels IN karch, 1885.
The complete Pipe limo reports for March VIII prob
ably mako showing like the following:
".H Runs. Deliveries deliveries
Total barrels '':...1Ss 2s2SsSSS T55SSSSSSS
Perhaps the best commentary upon the radical alter
alton In tho petrolsnm situation is furnished By the
certificate market itself. Tho extreme decline pro-
duoed by the beArish field nsws last week was from
90 10 80 "a cents Ind the not loss Of the weak wss
only about cent Added 70 that fact tho dulness
Of The trading less than 1000 900 barrels changing
entire week. IL was evident that there was no
promiscuos holdings Of long OH to bo frightened or
forced out upon the market and the only result OF the
weoks business was TO increase the outstanding short
interest tribe The shrinkaes In stocks has pEact-
eaIly cornered the certificate MARKET and The con-
tinuancs Of the reduction In the visible accumulated
supply viii eventually force resort 70 fture deab
ngs II tho scbsnee of speculation Is to BIO preserved.
The existing short interest g l9ah to sceept tho eTS
OF facts aud cover its contracts, for any attempt IN
that direction would doubtless advance prices. The
penalty for maintaining their position y paid by
delivery, while they can be relieved By nothing less
than accident. Such 0 deadlock IN speculation
naturally presents no attractions to long buying py
the public, although prices arc not nkely % %
lowered unless the lending renlng interest should 70
lease part OF the stocks II Is carrying FOR c3mmecia
pnrposes The market closed dull and barren OK
signifcaioo, but with indications pointing 70 more
or less unsettled trading In case the producers arc
rewarded with more lucky strikes OF oil:
The range Of prices and the Total deslnEs IN s, Ma
uonal Transit certificates 40 the Consohda1ea otock
and Petroleum Exchange for the last three weeks were
as follows: 49,. a
Week ended March 10. harSh 20 MATT S1 81
Opening ....-..-.....s..: 90 "a s9eS " IL