New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-10-07
THE PETROLEUM MARKET.
NEws TRoM TnE r1Ehp AND RANGE on PRICES

NEWS FROM THE FEED AND RANGE OF PRICES
There is little new to record respecting the petro.
eum situation I'm the last week The refined market
has been easier and the foreign demand stu appears
TO be held in check by the Accommodations Of stocks in
Europe and vague hope that cheaper goods may
be secured later The Offset TO that policy is the fact
that each week reduces the supply abroad and brings
the trade nearer to the point when It must repensh
fits reserves Rumors Of strike7 I'm Russia IN
advance Of tho Baku pool have been current, but
members Of the trade usually well informed on the
subject profess ignorance of any authentic news of
this nature.
In the field the situation IS about stationary. The
Jefferson Centre developments have not reached any
serious stage, and while Brush Creek is expanding
and good results have been obtained by explorers
In the lO0-foOt territory the general yield Of the
petroleum country has made material increase. The
field report Tor September proved be bullsh instead
of bearish, was expected, the average daily new
production showing decline of over 1000 barrels
from August whlIo the extent OF new development
Work has practically unchanged. Tho pipeline ne
ports due october 10 ought Ia record an important
dinnutiOn In the amount OF outstanding certificates
anu material reduction 10 net st0cAs-say 100000 to
100000 barrels. Tho partial returns OF the pipe lines
Tor september were as follows:
ISa pc. SOI Gy 'Ssi 2iSS S{ ss5 5S5s sS5
For the hrst three days of october the runs from
The pipe lines have amounted TO 17l,o94 barrels,
daily average of 57,22o barrels. 1ho deliveries
have averaged 260, 1o6 barrel. daily average
o6,729 barrels. The excess Of deliveries
90 ,JO2, OR ualy average OF 29,o01 barrels The
charters for four days amount to 10J1l4 barrels or
4o,i00 barrels a day.
The proposition to alter the rules of trading IN
the Conference Of OH Exchanges To mako
regular way' operations apply to deliveries the
day after transactions are mait, bat retainlng the
other features OF the option system, has been adopt
formally by the Consolidated Exchange here, the
Ptsburg and the Philadelphia Petroleum Exchanges.
The Bialied and the Oil city Exchanges are said
10 be opposed to any change. but have not yet taken
formal action.
There significance TO last weeks market
in crude certificates beyond that attaching pybng
infuences. Transactions slightly below the
cord Of the preceding week. and fluctuations were
narrower. Yet prices ended sub tan Tally unchanged
in spite of several bearish field items of news.
declint ---ofned oil, the high rates for money and
the disturbances in the railway share market. An
Of the strong features still preserved by the statisil-
cal situation, and at the same time the operators
bearshly inclined did not possess sufficient courage
TO reinforce their opinions with short sales 10 any
important amount vigorously aggressive policy
The forthcoming pipeline report should wear a
bullish pcct. and II any vitality be aroused In
the speculation that statement ought to be USED
The commercial movements in the trade around
nnety-n cents would appear 10 he salts aSory 10
the producers who spending their money ana
energies In hunting for the product. But the sfecu
la+On langHishes pending some new occurrence
which will impart positive tendency 70 the market.
Tho range Of prices and the total dealings In Ma
tlona 1rai It certificates at the Consolidated Siock
and Petroleum Exchange and the STOCK EAchange Tor
the last weeks were as follows;
Week ended Sept. D. oct sept %. oct q