New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-20
THE PETROLEUH MARKET.

TIE PETROLEUH MARKET.
NEWS FROM THE FIELD AND RANGE OF PRICES.
With the completion of the annual statistics In the
various departments Of the petroleum industry the
remarkable strength of the statistical position of the
commodity stands out in boldcr and holder lines. As
each table for the year is made up. adds further
evidence to the fact tina, America has retained her
superiority in the markets Of the world and demon
strates that the condition of production is serious
one in view of the constant and wonderful increase
in the consumptive demands for oil all the
world New fields Of high grade petroleum will be
necessary to preserve the existence Of the industry
else values must advance To a point where ohio oil
may be prepared and sold at profit The annual
review Of the shipping and Commercial List" after
recitng the failure Of the field work i'm 1850. although
unprecedented. to check the serious depletion Of Penn
sylvania stocks above ground SAYS In view Of this
important fact the possibilities with regard to Lima
oil. coupled with the fact that portion of the Ohio
fields has passed into the possession Of the refining
interest, assumes importance never hitherto antic
patcd All efforts in former years to render the Lima
product Of vaiuc iluminant have proved futile
but that it not a convincing argument that future en-
deavors will have no happier results The time is
rapidly approaching when the trade will hail with
satisfaction mot repcng thu news as q menace of
depreciation in values any possible announcement
of the ability of the Standard fully to avail itclf Of
the Ohio article The stock Of the Buck"vc Pipe Line
on December 81, 1SS9. amounted to lilO1I49 bar
res 1t Is well known that only moderate per
ccnagc of this stock would be available under almost
any refining process. But even the whole amount
added to the Pennsylvania supply would be more
than 100000 barrels below the consumption of
Pennsylvania cmde reported for l--9. The Buckeve
Pipe Line receipts in December were only 1868
barrels: the deliveries 75O,24i leaving an ac
cumulation Of stock OF only jAO9 barrels for the
entire month As the Of Lima oil fuel is con
stantly widening it is far from improbable that ere
long the ohio stocks also will begin to diminish.
To appreciate the Importance Of the export move
mcnt of petroleum from the United states in I7s9.
one must consider the increase in Russian shipments
from UatOum. Figures for the first eleven months
of last year available and show total shipments to
al countries Of 1-2.21 -2lo gallons an Increase over
the corresponding period Of 1--7 Of o33 gallons
But the exports from the United state, in l--D we're
676,O9O055 gallons. increase over 1--7
of 1O- 293 800 eaIIo.- The shipments of
Russian oil in lass were more than
twice the amount shipped in 1S77 bat the percentage
of gain in 1850 over lass was ONLY - per cent.
And notwithstanding the growth OF Eu-~ias trade. the
exports from America last year increased - per cent
over 1Sss and Close 10 four times greater than
Russia's movement.
Annexed is the Washington Bureaus report Of the
exports Of crude. refined petroleum. etc. from the
United states in December for the year leo com
pared with lass:
Month Of Dec,mnGro ,o,.e,..
> yslHg. - i f!aas5 5S5 5s 20 cad
,..,, .-t@, mc f'ai, -ooq-, ...-..,,,
',scm, .'.53 81 7@. G'75da'o55 Ios5sc2
Now Jet us look at the condition Of production in
pennNlVania for moment In bc,cmbrf ,ne
rci,. 'r against in i5i9o barrels IN Noycbcr The dc
Hverc, were 2,63",A-2 barrels '-, ,
to GGao7 barrels in December. THE de
tr,.af- Lost