New-York tribune., 1890-03-31
TIE PETROLEUM MARKET
NEWS From THE FIELD AND RANGE OF rfi0ES

~,-re rpou THE FIELD AND RANGE OF PRICES.
Thero has been no decided change in the price Of
cruce petroleum our last review aithoush uo
,o,aoncv continued TO 20 toward lower level inc
- r.s mt ,ruortant and the speculation around
az ccnts WAS disposed to hesitate Compared with year
AGO values depreciation OF about Genus per .
hut while that decline % bc small "hon .n' h"''
,ncrcas. I'm production Is considered. 10 shoto nov ~
-, ,,o, tho s.ocks above ground have been enor-
rouslv reduced Under ordinary conditions 1t mlgh'
safely be argued that the statistical SITUATION
recovery from tho existing Oppression. but IL "'"i'
no foolish 20 ones 10 the fact thot thcre arc
,o,s do, which render It unsafe follow implicitly
the rrccedents Of the past. on" OF the ho>1 "ioe'
NJ these clements the uncertainty rspccuhg 'h' p"S'
,n,,,cs q, Ohio OIL THAT has been importAh,
,rogress made IN tho refining OF this article no' o-p'u
,, 4, q srl f,ct that tho standard interests lind moro
pront I'm pushing II fuel than In attempting 20 "'r
It for Illuminating purposes so long aS "'.r' = .'.'
supply Of PennsylN ania crude INC t'"u'' H''''',
,efnse. 70 realize the nmcnsc possibilities ahcad OF
-, u -. fuel and IL Views Standards large 'hica2o
refinery It's IN ohio, It's pipeline 'Nu7lo"S s'
H. recent purchase OF opposition propy In ONO "a 'a'hs
c,-cmsantal evidence to the condnt claim oi OUTSIDE ~
n.-nenter shat Lima b. made prohi'Dly TO yiea All
xelon. lsht IL Is impossible yet TO conrn the report
Of tho transfer Lima OH Company to the Sahuaia
hut It Is reasonably certain that 1t has been 'f'u''
consunua,sd II I, Il assumed That Lima OIL "a" w
refined With success. then becomes dihoHt to hS th'
. wher. Ienns,vania crude l. dear or cheap TO the
renncr These constructions may tend to rcps' 'l'cu
,y. buying for moment but they VIII LOT D''u the
reol
The value OF Pennsylvania crude will be determined In
the long run by force y supply and demand I"e
produccrs arr adding smony n the claim ina, prices
arc no, unduv depressed Bad roads have retarded De-
vcopen, work ard yet the March report Is not likely 70
cause any abatement activity The Sheffield pool has
shown changes IN poucon-so nrch 50 ha' Il
may he un.c 20 build substantial hopes upon ts positive
"ooll,rec" Tho 100 foot territory In Butler County
POM however f. riane indication OF 'pcic'ins
ont Arains. these feature. the Of me extension
q, the Mount Morris County. field and the deveI'
ounen,s In Virginia that promise reward 20 t"o
rr.pre.sbe drcr. There Is every Indication ,hst 'n'
onc = production IS fully sustained ut from 7oooo 70
= 600 larrc- day II + alleged that the output IA
,o- tho time being lit,lc ahead OF consumption and wme
only the comp,re Official ppiine reports VIII prove the
correctness of This clan may De- prudent 10 prepare 'oF
this contingency The incomplete returns of the pipe in'
would forbid such an expectation but the last monthly re-
,os, va. disappointment in tai showed d'cras" IN
.,oe ~ only - barrels. when decrease o' looVVo
., 900 COO barrels had been looked for We aprnd Tor
IN. s,ke ~ tho roccri c laiual pipe ne hsnr' from
Nam % March p charter, 70 tho 2sth Inclusive
,, gs', G.E3 a'. 's:'':I .s
tn, renn.a oil markets. are .tin higher than a year
ago bu, they are weakening The wcoN'- declines are
no,.i below lut the comparisons between no" ana u'
corresponding dat in ls-o follows Antwerp lSs
francs. aranst lGi.di6h n 1883; Bremcn Oo' against
els. London 5ldi'.. against 6s"''s.
Tho crude oil speculation has aen to such Insignificant
oru-.. iha, IL deserves but brief notice After break
ho,v 3, cent. there was 0, dl,po'!ton on tho
,a-t ~ western trader. operate FOR rally 1h' move
, might have lcn successful except for the receipt
- h.,r-h nri news ana renewed talA about ONO ol:
uiafx.'s duh much significance,
~fu .on~ important deveopm"nt. ar" recorded any o.
,id.d change values unlikely
Tho rang ~ prices and tho oil dealings IN N'uohA'
Transl, c.rn at-- at the Stock Lvchanr" ana tr on
.d,fed stock and Petroleum Exchange Tor tn last two
weeks a. follows: ,.,. ,..,.a,.,
,vc,t ended Mar ,2. Mar % Mar. % Mar. 20
on.nin@ .......... NO. 500 ~ -
Lowest
saiD. barrel. Ge2 900 3o2 600 1919 600 i3si 900
VIM. he eNport demand with ordinary activity
ur'r. 49, heavy and quotations r'duc'd po'is
H. % cent. nor gallon In barrels and $40 cent IN ca>'
Naph.ha ~ and crude In thFr's at 'oV cents
pcr g.llon unchlngcd .
Fo-o,ru quotations lower, declining l. franc AZ
Anvern ~ IGs Francs per kos 10 marks at Bremen