New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-21
TIE PETRoLEUM MARKET.

NEWS FROM THE FIELD AND RANGE OF PRICES
There are always two sides to be considered In
weighing the value of commodity, but at the pres
emit time the speculative features seem to De all that
is of influence the petroleum situation. Tho
enormous reduction in stocks the narrow volume Of
actual certificates outstanding, the continued suprem
acy of the pton the output, the reiter
aed statements Of the Standard OIL people that they
have not yet been able to secure satisfactory HUI
minant out Of Ohio crude-these elements subordi
in the eye Of the SPECTATOR 10 the fear that no
bull support viii be EXTENDED to the market until the
organized producers liquidats the oil they hold call
on. 1t must be conceded that there is widespread
feeling Of discouragement and perhaps at such times
1t Is wise TO look upon few Of the favorable features
of the trade Perhaps the best point is the increase
this month n. the amount OF charters for export, tho
daily average being in excess Of DEFENDERS record
and far ahead Of the charters for January, 1883.
slight concession In freight rates gives hint
TO the conditions likely to rule BY next summer
or autumn, by which time the increase in the number
Of tank steamers employed in the transatlantic trade
and the additions likely TO be made to the capa-
city Of the ocean Carriers viii cheaper
ocean freight rates. and thereby assist the American
reflner In meeting the competition of the Muscoyite.
IL need not be expected that radical depression
in ocean freghts VIII DO suffered, but the tendency
for some time will be toward a facilitating OF United
States exports, instead Of toward increase Of
difficulties in coping with foreign rivals the ten
dency has been for about year.
Some food for thought Is furnished in the statistics
compiled for the annual circular Of Mr.. Livingston
Roe For the last nine years the movement of values
has been toward lowering of the maximum price,
as will be seem Highest price in 1850. 81 "a 3d.
January %; 1881, 81 90 12, September 81 1882,
81 81, on November 8; 1858, 81 "a 3D. on Juno l.;
1884, 81 10 So on January 3; 1888, 81 IL IL, on
October 90; 1886, % IA cents, on January 90 1887.
90 rs cents on December 26 1883, 81, on March 9.
In four years the highest price reached In the
winter; in three years II was touched In the autumn:
I'm year IL in summer, and last year Il was
in the spring The lowest prices show comparatively
little variation, except in the Cherry Grove (IsS2l,
Washington field 1880 and financial tles4 panics
Here they 1880, II Ia cents April 81 1881
II 10 cents on July 10 1882, 40 Ia cents on July
81 1888, SO IA cents on January 4; 1884, 81 IL
on June 81 1885, 90 cents on January I6 1885,
so "a cents on August "a; 1887 81 cents on JULY
2S 1888. II "a cents on June 81. Out OF the nine
years, I'm SIX years the lowest point reached In
the summer time; in year Il touched In the
spring. and I'm the other two years January witnessed
bottom figures. Ruling values Of certificate oil to-
day cents under the average price OF the year
195s-namely, 81 80 cents The Increased hazards
of the drl and the exhaustion Of territory In recent
years strikngly exhibited in Mr.. Roe's figures OF
the field work: