New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-04-25
THE PETROLEUM MARKET

NEWS FROM TIE FIELD AND RANGE OF PRICES
Tho Tribnne of yesterdays issue called upon the
STANDARD OIL Interests ~ publish In ortatve
way the facts regarding its operations in Ohio oil
for the benefit OF tho foreign and domestic trade wrh
looks to the Standard tho controlling factor IN to
markets. The response l. prompt and we arc able
to lay before our readers tho summary Of a CONFER
satlon hold with Mr. Henry IT, Rogers, Of tho
standard Trust trustees and vice president Of the
National Transit Company. We do not propose now
to quote LIS exact language but focl authorized
20 GIvo this summary correct statement Of tho
matters which have been the subject VI much dis
cusson in the oil trade ard which formed tho feature
Of recent newspaper articles intended 10 dScredt III,
value Of PENNSYLVANIA certificate oil. ths publication
If which certainly preceded II they vera not re-
sponsble for the recent break in the Grade market.
II furnishes no new matter to the readers OF The
Tribune and IL may meet with the reception given
TO previous statements that do not SUI, the pnrlosc'
of Speculative operators on tho bear sld' out u ~
an Official de, lara lon that becoMe' aUr 81 icS e
Tho Standard OIL late est ma pen uIani"; ant Ell
al the experiment trled ny II unHer PROGRESSES sto-
developed by Its Own chemists TO produce i.9n ONO
OIL an luninant that IN quantity ana qcan,Syo nso
approached the not results obtained rom G,r,c ,s
which has ruled between Ohio and Pennsylvania
eds That goo! can IAN p sn s.cnrs i' az
an expense which no compared only 10 ciem'ca,
81 which would w$ from @ s Sa
the fresh white sand oil that commands premium
OF 70 cents q barrel IN the Pennsylvania haus. !.
Is mprscucable 70 measure thu peIcentaa, OF Weld
from Ohio OIL and thar point must be dismissed: bnt
reterate tho previous stao'nsnt that the Stand
ards experiments Of an kinds bave failed TO CIV"
net results that would bring Ohio crude, oven with
Us difference IN price 1890 cents compared with
s0d9O centsl. in commercial value within any rcasoli-
obe distance to certificate or tsnked Psnnsyly'nta
utilize Ohio oil unllnant, for tho disappearance
Of tho Pennsylvania stocks ard the pauoty OF tho fros
supply would alone destroy the Tor It's existence
the satisfactory refining Of Ohio OF II would REQUIRE
six NC tbs year n fn,sh tho necessary plant.
No existing refinery OF the Standard interest Nouit
be available for tale practical execution Of any Oh
the processes that deal With Ohio crude AS respects
the status Of National Transit certificates 1t almost
seems superfuous make authoritative state
barrel OF Ohio OIL IT'S cert icatoe represent Penn
sylvania oil and hODored only with that product
could not II Il would because Of tho muitif&ious
opportunities for detection AID the disgrace T. pun
Shm.nt which w)ulh inevitably attend any Such at
tempted transaction. The building of refinery az
be when the exhaustion Of Pennsj Is ana Oh iorc,s
the S3tat.on Of the most inferior pr duct to supply
cheap ght 10 the public The st91co OF G,aer a pe
Ohio 10 northwestern Pennsylvania Is so.cly de-
signel 10 utilize empty tankags in VIVA; IS Practically
The crude oil market opened yesterday with
steadier tone, prices Welding only is colt 10 81
GEMS. a hardening tendency 10 values followed and
TO SO Is cents A fairly LARGE trading wos enjoyed
by the market, but the lone of tho average trader was
brar!sh. The utmost that would DE conceded by the
bcGrs was that rally might naturally follow q
scarcity OF certificates to borrow was dcyeiuoed ard
premiums paid by borrowers ran up 10 25o3 30 cents
10 meant temporary squeeze: The marriott however
closed firm at a sllght recession from top hsrrs.
The range Of prices and the total dealings were as
' Stock Trcbopec Consolidated