New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-07-07

development report the incomplete returns Oh TIE pipe
lines last month point to another reduction in total net
stOcks The daily average excess OF deliveries over
in, is more than 900 barrels, bat allowing for the
usual changes IN the relations between the runs and
deliveries shown by the lines which do not report
daily a conservative estimate will put the decrease In
stocks FOR June at about 10000 barrels. Annexed
are the partial pipe line figures for last month:
Runs. Deliveries. DcIiycres.c harters
Total 6bls so- . DIV %, - 39S SSSt
Two weeks ago The Tribune suggested that If t's
crude oil brokers wished to preserve their occupation
It would be wise for them Ia unite IN an effort to secure
the listing OF Buckeye (Ohio, Pipe Line certificates.
No formal action has been taken on the subject but 1t
Is an open secret that the managers Of the Consolidated
Exchange are quietly seeking to bring such con.
summation about Last weeks Natlona! Iran'lt mnrhet
showed By It's duucss In the face OF sharp fluctuations
in prices, how depleted !, the speculative vgor ln OIL
II l. hardly possible that the men VINO nave Hi',S
invested IN the petroleum exchanges OF Iriuiof, oli
city, Ptt,burg aud New lorh, and the men whose
livelihood depend, upon the business done ~ tNrsc
exchange, are willing 10 continuance OF tho
present mart,mu,. The Tribune Ia, never believed
that ONO oil could be brought into competition WIN
the Pennsylvania article except under cOmlupl>
radically different from those which now exist llchc1
we fail 10 sec how the Introduction of speculation III
ohio certificates could legltimatcy affect the valu" OF
the superior commodity. an argument when NJ tunes
has nilucncod some Ol the Western producers 10 luke
waUne,, toward any movement for the listing OF ONO
crude. The failure ~ the attempt quietly made short
time ago, 10 secure the assent Of the -taidaT I" tu'
project. Ought not so discourage renewed cfOr-. Inc
STANDARD cannot Afford u oppose TIE oppressed "lsh o
the united oil trade. and II that wish take, proper and
formal expression, public sentiment Will bich II up
II has long been contcndcd that the mystery surround
ing thc Stitu, 4 Lima crid" Wa bar - purchases "
rcnu-y lvaua OIL that otherwise might be- induce" 10y
the coi~ld rlt oi s., t,tc>. The standard. by list
nc Bu,hcyc certificates certainly cannot mike this
uy stcry Wur-c. while there /, a possibility that an
open market the rNcAlug'e may serve - ntrOiuce
AL indie pendent element which might At tine, furnish
c 6. w '1 t 4P ta 1 ayac t p 3
from l. b. - = cents. MisIt not their influence be-
49, vel cXcr;ci IT, The exchanges Could the standard
certainty concerning ONO oil mAntliu"d for II, -"
bcu" hy Presenting an open market for purchases II
the fact cannot be- -putod that large element IN the
oil ~, haucc~ j. Gag for the lstus II Buckeye cert
NC1ic-. We understand tho reluctance Of the managers
~ the exchange 10 approach the standard formally
all the exchange, able 20 unite the -ubJcctl
We do not believe that tie refining Interests could afford
oil which now freely acc ndcd o TIE producer, Of
The Penn y!ylun product.
Last Vc"A witnessed decidedly stronger market
'or National Inn.t certificates. and prices. ait"r
Exchange. rapidly advanced near M" close Of the
business week - 49, > cents. Ih, options, after
cents The lcJlG-, at ;hc stock Exchange cNcc"iad
h Oh. fDui business dag, The record ~ tine preceding
TN week. igt there mach les, doing a. the Con
-oldat.d Board. The rrNrcd markets. felt the In
advancing Wines. IN" advauc" IN cf1id" prob
ably du" largely tp flc covering u shorts when the
bc1l-h nc!d report for Jun" flci 10 ~''rtic holders
into selling lut t'c extent 81 IN" r-c on 50 small
volume q trading indicate, Low scarce actual goods
age. The prospect ~ rise Ina production L. oh,"t
by the expansion 81 III" cou~umptiyc inquiry. The
market closed strong top prices and would 20 higher
Wcr. speculation susceptible ~ being aroused.
The rau- ot price and the total dealing, IN National
Transit certificate, ut t" ~udat'd ~tprt and Ictru-
lrun E>chaus~ aud m" stock Exchange for the last
two weeks were as iolloV,.