New-York tribune., 1890-05-05
THE PETROLECN MARKET

.r,vs rrov Trr, FIELD AND RANGE OF PRICES.
\ stronger tone p'gvadcd the crude oil markets
last week. although there was no important 'ihhN'
in the petroleum situation. The n-r Ia pH''
,rhou-h moderate Bro extent va, deserved b' '''
oilur. ~ JON 20 ri-e 10 any material H'er''
nd hv tho sympathetic Influence ~ 'c hopci"i
-r.e,Iative sentiment which now pcrvade' NE "a"
,,,v stool. and the cereal markets. Crude oil hI'
cached a plane which CONS rvatv" judgment mus.
declare to be- low and hence rs natural ''AI' "o'l'
De- upward were u rot for tie ''H-''I'''"' ~ o..
r,et, couu.tiii1n and the pos bic development oi
a larger supply 81 petroleum at home We h'' j..
M sake of the record another advance IN TIE price o
nl. cr,de which now rule 40 80 cent, per barrel
for ur.tu,'ion sold - the standard Interests ann
- II cent, pr that -oh 10 the outside o'mhl''
ton which is conducting lively warfare against "'
dominant power iu The petroleum world l"' ''r
IA ohio crude j., not factor in lcnu'yI'"" li'O''
c,,.pt - an extent That may be- compared Tor 'N'
.atc 81 Illustration. - the Influence cNrrrh N
htaminous competition upon ihc selling 'Ai'' "'
.,ffr,,,ite coal D-m--lue then from consideration
. tnc ohio quc. fiun7 "a, worth no more ihan IL mas
i.o, for months nc come 20 the consideration oi ur
other factors Advice, from Europe indicate ina
,i,oroi, campaign is being undertaken by the kV'
sian rcnuor, and the competition hi' reached P'"'
60 here sharp reduction, n prices are forced upon t'
,,.-can rcnners in order o enable them 10 retain
their trade II /, understood that the supply Of The
pu--,n crude !s malu1.ucd AZ fl figure. ana VINE
! - subsequent collapse of production may be expected
,u the uatrral Orier 81 petroleum history, Tor the
| lime being tAc large output acs I" sirh-theA u'i
crcieucr ami lcs,cn the profits Of the home rcincr
! Who b, forced 10 face tn, competition. The con
crvatvc view Of thc situation. however, should never
o,cilool, the ,normou, growing power OF con'ump
t,n For the present the tendency of refined value
HAY Dee toward concessions, but this Is certain To bc
| accompanied by d large cNpor movement "i Amer
| ,,,' a',ld. Inc export movement has been impr"v
/ .t.. fIIs l. L
,NIorf from January 10 date Of l''Ool'"Oo Gallon
a docr.a-r Of Il lU'2uOo gallons compared WIN ne
Tr l~M rcpnr for Apnl lc5i bcari.h than had
| hem expected for although the new prodnot'n wa
increased slightly from March. the average Yield per
wcll remained about the -ame ana thrro wa, lail
| ,ry of n the number Of now exploring Ncniuic7 lh
.lte Of Tie Improvement III The condition oi the road"
IN the western country me lH'i'a,r '" W ,,' ne" NV
work the di-ircts That pron'-@ mt bu, III no
ton may be- looked for tnIc, IheTr -9o'h be- some
uucA pcccd Developments, II W"Ih h'l D' n3i" - a.
.uuc tbnt the ~ pan-ion Of the demand VIII not Tor
ne greater part 81 iI% & & P,9yG' a. II i'[ n1 ,' ssa rTn To- To-
! ~%rcr The West Virginia hcid2 are bchtied hV
r,,,y olcrvcre but there are possibilities ~ tat dl
.,.n ,cIich should not be- overlooked The safe
-nard against any frc,hct from that quarter is the
Gn,u and hence the district will be- slow IN de
ycopng 1t Is rush Of production wlloh , u,iav@r
| f.i. r,r. Of thc slow growing output. II would be-
veil for the drcrs for oil 70 pra'uoc cnl@cfVatl,n
AHA basi Of valucs. for the work under way In The
ncd not far ir" ig mafun ;n aeld IRE rcporl for c
| Igudcd NN.'..'''''r
| first four months "i LOW ,,, 49,,
| Fi'ld rcrort lS'o' ~, az 80 ~: 80
Wgi' N,d ,rSdpe,Ica gSdRpl,,Ia bbls7Isc 1oas cma So,a
| ty,rap. per WcI.-.....-- u, -i'.' i' ~ 'ioo
%s' ' ar,pf failas @ 3Sii 3si Gii sss5i Ssii sci
! rata, NON, work ...... 9s3 1c31 1.o7i Ioo'
,r Ii uGIrafPe Of ,inall dccar in The total net
tock,. me total runs la,t month wcre 2Tho'.1s ~, ~,
| vrrir' amounted to 21-7,2o7 barrels, daily aver
axe OF - DO7 barrels showing An IA'o, @ 81 u',v'r, %
ay,,4cc The charters were l4loA'o barrels, or
| ~" end. certificate markets are yet unable to
| .hakc of their professional aspect ana business
| thrnugh commission houses Is AT low cbb. II !,
snDarrn that the larger operators are too uncertain
P Ii,'iou rs 10 the possibilities Of the summer pro
Hnr'n" tn buy with confidence but the scarcity Of
Casl, o." and the existence Of large b9t unobtu,iyc
Irt Interest give, not little stability 10 valuc,
| around - cent? some weakness wa. exhibited at
| nrcc, rose from II Il cents to 80 o. cent, for
| onions and from = Il cents 3" 20 IL cents for
r6fiar delivery al the stock Exchange. In the late
,Iis rcalizations on the rally compelled some small
comce9sions The markets closed In a waiting mood.
iui Win prevailing sentiment onc which pointed to
~,crate Improvement In the absence Of bearish field
The range Of prices and the total dealings in Ma
ona Trnnslt certificates at the stock Exchange and
the Consolidated stock and ir1rolcum Exchange for
week ended 'GH %Sr s. Nay a ATa ;'S''iia sS &sy
9[snnies ,3,sna -. -. - sds = -.
Lowest .............. 81 So SO So
sass Po barrels e5G il.e, sa 90 oa,So6
at 20 cents per gallon In the last week but the case
market wa, Icslier on acconnt Of Russian compc
cents. The price for crude in barrels 7.3O and
for naghtha 40 Gsml. showing Vd1gor0 no change
creased ;,s franc to II francs per 100 os while
kos' London quotations were unchanged at 5 Ias In
10 "a pence per imperial gallon.