New-York tribune., 1890-06-05
THE RECORDS.
NATIONAL LEAGUE
TIE PETROLEUM MARKET.
rEws FROM THE FIELD AND RANGE OF PRICE

sEWS FROM THE FIELD AND RANGE OF PRICES.
This column yesterday gave exclusively the first
limitations received by the public of Of the
most significant tian-a'ti)ns ever accomplished in
the history Of the petroleum industry. We rcl'r
10 the negotiations, which may be said De virtually
completed, for the purchase Of the control Of tho
Forrest. thc Union the Anchor and the Washington
producing companies, In the interest Of the standard
III iiust uH detail. - far they now can he
obtained, viii bo found cl,ewhcrc in The local columns
% Inc IH"uhc. Inc operation Will place Inc
standard IN control Of nearly one seventh Of iho
G',II average output Of crude Pcnn~ylNdnh Oh.
III mahea It an important producer a. Vcil rcincr
OF oh position winch II now occupies IN Olli" WIN,
M 'ii.' u!H"'ch'c, mat III that state IL Pi"'H,IHt
mt rests are now dominant and ar. NOR important
Than lte refining intcr.ts. The importance Of tni-
ncws VIII be readily recognized but II mas be 100
carry Sct 10 gliIHp lts >ienhcincc to tbs future
status OF I"nsSlvania crude. especially ~ The
Htahddru oIhccrH maintain rcticcncc on the sub
Jcct that Is 10 be regretted. When all the details
OF the 80 deal are completed We hope that there
VIII be II fnll statement from the purchasers. ono
point Is Obvious that the rcflncr c,tecms the s.C
uatlon to be sufficiently critical IN the WAY Of
production to desire 10 place himself IN absolute
iiol of what yield can be secured even Al Il high
cost II tn, view be correct the PcnnsS lvania
producer may look upon the Transaction rs one
which by II" means promises depression in his in
dnstry. The standard hercafcr 10 a cer.an c,-
tnt, must assume tl" burdens of exploration and
development, with all the attendant unccrianc, AID
expense, u, wei "a, enjoy the profit, Of prolific ter
rltoiy; Another point to consider Is ihrr: That II
In ohio competition that doe, not reach more than
onc-third Of the whole Culput can compel al
vance from - to nearly 40 per barrel IN few
controls al lciist sA~evcths Of the whole yield the
resistance "i competition must ,ti exercise pot
Influence IN restraining any supposable dspo zion
the part OF the standard Influence crude values
toward lower level. The necessity Of contest
with the Russian trade NAV prevent any cXccs,v,
imitation IN the price OF Pennsylvania crude, but
there are good grounds for believing that the out
Of the appearance Of the Niandari producer
may tend, at lf;'at nn there l. radical change In
The field situation 10 the maintenance OF value, upon
"A conservative, steady plane.
The CeItilicd'c markets yesterday wcr, weak with
ont adequate explanation. Enough informal on aS
10 the purchases noted above had leaked ont In
conuection with tn. Tribune's announcement to give
traders "A topic of discussion and perhaps The first
effect was lesitiinaicy reflected in II rise in options
at the Consolidated Exchange from ~ : 10 - IS
cents. But the stock Exchange was the bear Gle
mcnt In the narrow speculation. prices there steadily
declining from 7Iao1 L. cents 10 S5 II cents,
against - cents TUESDAY night. Tho options
reluctantly followed this movement and IN the late
dealing, sold at - 12a SO "a cents The markets
closed unsettled but with basis existing for rally
i'm case there ShOuld apucar any confident support ON
the news printed clscwhe ia thi, column.
The range OF prices aud IN total dealings were
follows:
tod