New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-14
C]aneinl Academies.
THE PETROLEUM MARKET.


The complete returns of the pipe lines for Decem en-
1919 received last week. indicate rising tendency TO
producton the daily average runs having bceh oO'99t
barrels against an average In November OF 9oio9'
barrels I'll barrels In October and AZ 294 baire ID
september 1t IS TO be remembered. however, thas
there is no restriction Of output now ana the Dcepcr
Rms while the largest Of any month In 1888, "cro
only 57A barrels day in cxcoss OF tho daily average
az o2O baarels in June last year. when the shutfn
movement was under way While the average daily
runs last month were 3,s01 barrels in excess OF the
average foy November, the deliveries decreased 09of
barrels. being ~ 779 barrels day. against e4'o"o
barrels In November. The decrease OF tho total net
STOCKS last month amounted TO 0l1150 barrels, inc
certificates outstanding falling OFT 107Lsea barrels
The total decrease net stocks since OCTOBER 1885,
lust previous to the shutin, has been 12,Sl133o bar
,eis The average daily production last month 1.-THE
second month of the resumption of aowing, pumping,
ETC. of wels) was 12 900 barrels day less than the
daily average in October 1887 which was 62 494 bar
rels.
The December reports of the last three years pre-
sent some interesting comparisons The daily aver
age of runs last month was about $500 barrels IN e1
cess Of the shutin month OF December 1887, but
IS 600 barrels day under the yield Of the open month
of December 1886 The deliveries last month we're
largely under those Of December 1887 and 1885, put
by reason OF this enormous shrDkage In production
the excess OF deliveries runs was nearly e3Oooo
bauels as compared with excess OF over 1,3OO,OOo
baTels In the shutin December, 1887 but less than
400 900 barrels in the open month ofIecemoer, $780,
There has been an extinguishment OF 100000 bar
res in net stocks from year ago, and compared with
1886 the reduction has reached 1470O,OOo barrels.
Since December, 1887 the certificates OF the Nauonai
Transit Company, which alone are good delivery IN
the exchanges, have been reduced 100000 barrels,
while the cancellation since 1886 exceeds lO,OOOOOO
barrels The pipe line figures for December OF the
last three appended.
All lines Dec. 1886. Dec, 1887; Dec, IsSs
B Bay average average 5pPS vsis; 1Ys ssss $
Excess deliveries. 12s46 1870 2tSSSSS
Total deiIvcries... e5a2tso 29dossS AL lS7
~ eS St.sn nc % s Gs laSiscSs ~ 9 oSs
Total ne stocks 36I oJo p 3oI III 10 oJo a9
The pipe line reports fee January have not. so far
as received indicated any decided change from the
steady movement Of declining stocks The daily
average Of runs has been 3o,712 barrels, against
5o,494 barrels in December. 1885, 3o,723 barrels
in January, 1888; 63.e27 barrels in January,
1887; 5s,1s6 barrels in 1886 and 53.2os
barrels In 1885. Tho deliveries have averaged only
69,516 barrels, against 77.779 barrels In December.
1883 74,460 barrels IN January. 1853 74,234 bar
so go barrels in 1855 The oiicIa figures are as
follows from January l to Charters TO the 1lth)
Inclusive:
Runs Deliveries. Dei'yrs Charters
l 1S per go S5 4Gg $3.50 SSoI S$s0s
No extended comment is called for on last weeks
that title The market remains narrow and pr0fcs-
slona and presented substantially the features
IL has shown for several weeks. Dulncsa IN tbs
export trade leaves one element OF support at min
imum, although the increase in the number OF tank
steamers VIII ultimately lead 10 lower ocean frelchs
and give the American trade a better hold on tho
foreign markets. The field promises no serious de-
veopments. and therefore IL Is morally certain thar
the reduction Of stocks will continue through 1889 Yet
he operations IN crude reman Insignificant scae
and the advance which many persons believe Is war
ranted by figures and comparisons fails come There
were frequent variations In figures last week over
all extreme range OF less than CENTS the general
course Of values being from SO 1-2a57 3s cents down
TO IS IL cents, then back again 10 81 38 cents
and ending with transactions at s5 $50 SO 80 cents
The market appears too strong 10 be easily carried
below SO cents but every rally toward the nne'ios
prOv0kes sales which a setback Tho
market closed firm IN figures. but promising no early
alteration Of radical character.
The OF prices and the total dealin0s IN
Eatona Transit certificates at the Consoli1ated
weeks were as follows: