New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-18
THE PETROLEUM MARKET.
NEWS PROM rHE FIELp AND RANGE on Pr

NEWS FROM THE FIELD AND RANGE OF PRICES
The Government report Of the exports Of mineral oils
products from the United States In January
presents significant fgures Compared with January
year ago. there was Of ID 7966O4 gallons ana
an increase in value OF s1,07s932 Here Is an impor-
tant gain branch Of the American export trade In
a month where crude oil ranged around SO cent? and
when the speculative trade here more or less de-
moralized It is gain made duing period when con-
troyersies were rife between the refining and the pfodue
ing interests and when attempt was made TO revive
scare over competition Of Ohio OIL Another sig
nhcant Of the report IS that the exports OF NJ
Illuminating oils reached 4ose2 974 gallons and value Of
az 2s3 324 an increase the month Of January 1ssS
Of IA 900 ST. gallons end 1,2s2 Sol in value These
gains were offset considerable decline In tho
exports Of crude petroleum and make the net rsus OF
the total movement they given below. 1t would
seem from these figures at the American export trade
was widening at profitable rates I'm spite OF the ne
oueniy vaunted competition Of Russon petroleum. Ap-
pended are the comparisons Of total exports for last month
and for the first seven months OF the nsc
year. ending January 80, 1850: sq, rs
MONTH OF JANUARY.
s:nss. ss g ssss go s sf5Sssa
SEVEN MONTHS. ENDED JAN 81
Value -......,- ..e27. 79O.7A s2s,9sS4Io s2l4212s
In view OF the spirited outward movement In the foreign
do Z. "a worth noting the charters for February
ae,,a ,or. than 10000 barrels day. and the exports
,o January 70 date, furnished in current pus M
conoplets statistics amount 10 olssSoVo sohons, 81 -
crease over the corresponding period OF iooo VI
"A ooo ooo Gallons Il would certainly seem that VITA
the further easing OF In ocean freight rates tna'
- ~ with an increase the supply Of bulk steamers
for the transatlantic trade, the export movement mas "
encouraging future It. Meantime the current pps
line figures record continued dectine IN hes ssosA
ha compsts reports January showed the toai mes
cks az ali pipe lines be 17S23274 barrels sgaihss
ia coo Ala barrels in December 1855, and 21looooS
harels In January 1885, At the present rate OF excess
eliyeries the February report VIII record reoueon "a
net stoeks Of about 1000 barrels The daily average
- - 10 aate Is IS 2i3 barrels against daily average
a, 40 esl barrels in January 1854 and Of 4SlsI oses
In February lsSs; 1892 barrels In February, 100.
IA barrels in 1886, and 54997 barrels In 1850
deliveries have averaged 7e,9f barrels per cay ss
~ 1914 barrels In January 1884 barrels in February
IL 1ss barrels 7e171 barrels In 1855 ana
es21s barrels 1885. Annexed are the pipe Line fep'"
from February TO charters 70 tho 11a) Inclusive
Runs. pellxsrlss pslys osssss s.s
Total barrels s9S Asss1 S $50 GSs
ina crude oil responded 10 the action taken By
tina organized producers Withholding their reserve oil
from sale Until better prices have been forced oy ths
shng supply and increasing demand The opening
met with opposition tho bear party and their sales
depressed values from SO L26ss SO cents TO 81 ss
cents the lowest point Of the week When the pressure
was sbad the hardening tendency OF prices reassr'ed
ITSELF and with advance In refined, the shorts began
uoudsng with result Of carrying prices up 70 81 IA
net gain Of the week amounted 10 aeout csnts on
reaction of over the highest quotation For
the nrss tina in many weeks there was decline IN
carving rates. and that lenders easily exaceed
carrying rates borrowers ana In some instances
forced the pay sized premiums for the use OF
oil came close imparting panic to the shorts These
rates reflected quiet but steady growth OF large
short interest which had reached Dimensions unsusped
nv casual observers and they also indicated with what
ease holders when they choose TO- produce scarcity
AZ certncaes OF the present narrow volume out
aandng doubtless true thas lere has been consider
~ tie dne. pub LneIc are inoee
lions extensive contracts are s IN existence Ths
the tension Of the situation and encouraged renewed raid
ing In the late The general disposition OF the
traae IL 10 sell than 10 buy, and last weeks
sdyance Is looked upon accident father than
warnn9 for the future. advance In refined oil
TOO sharp TO be entirely held but the late reduction
NOT generally known the close OF business IL Will
aoubess unfayOfably Interpreted BY the pyAefs ana
the market is liable be subjected 10 renewed attacks
Unless the field developments should assume radical
change the eYtcnt decline w probably be limited
by Strong purchases that likely 10 be provoked on
reactons The leta dealings less active than those
In the middle OF the week, and were attended by heavy
The range OF prices and the total dealings "a National
Transit certificates the Consolidated Stock ana Pc
Exchange for the last three weeks were a. follows