New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-15
THE PETROLEUM MARKET
NEWS FROM THE FIELD AND RANGE OF PRTcl


NEWS FROM THE FIELD AND RANGE OF PRICES.
The exports Of petroleum and its products from the
United still below the volume recorded for
last year The August statement Of the Washington
Bureau Of Statistics marked decrease for that month
in values and also for the eight months Of the year
compared with the period Of 1850. The later
unofficial figures carried from January to date place
the exports at i22.0O.. 900 gallons. decline OF 49,
842, 900 gallons from the corresponding period OF
year ago But last weeks local refined markets do
vclopcd increased activity and quotations quickly 70
sponded oil advancing 10 points and barrel oil
. points gallon. There IS said tn be an actual
scarcity Of refined goods and this contributes toward
the comparatively smaller export movement this year.
Some authorities quoted saying that the stocks
Of Russian oil In Europe very low. 1t Is certain
that the rise In the price Of silver has dcmOralzed the
Russian export trade I'm oil well as wheat. While
it is true that silver has fallen OF latc from its ex-
tremc high point, It is generally believed that. a, tho
full effect OF the heavy purchase, By the American
Government begins 10 be felt, the upward course Ok
silver will be resumed with tho inevitable con,e
qence of rendering 1t difficult for the silverbas> cou-
tries to compete with IL, in the shipment OF connHi-
ties A. Russia is silver country, petroleum ought
to feel decided stimulus i'll tlH foreign trade within
the next few months.
The crude petroleum situation has Indicated no
superficial chang. In the vicinity Of PittSburg Penn.
several large wells have been opened and the
volume Of Total production Is sustained at large neue,
II the present figures to he maintained through the
winter 1t might reasonably be argued that conditions
warranted no material change IN price. But the
winter weather Is than likely 10 cause shrlnhase
In the Pennsylvania yield even the prtdiicer, Them
e,lve, do not adopt the plan Of outstanding their re-;
Some Trustworthy understanding of the The ,,at., Of
ohio oil can be reached. Extravagant claim. Of the
It. behalf and. while still Leevt in the decided
superiority OF the PENNSYLVANIA article We would ~.
,,,tpl II nf -
which the Iauntcrs Of the n'kcye oil are enabled To
make upon the speculative and Investment cas,T, by
their pc~istency in argument and assertion iIeio
another lowering last week Of the premium PAID On
fresh oil in eEnsaa Of cent. ,r In tine ~, sp ma
de. field. IL this action 10y the standard wa> not IN
The "a. Of INIT rIu ry u, , sTs nv wn nHr
The August statement II til" l"nn>yvana pip. line:
WA not so favorable as ~ 'a % S.r a. 'e Ae i
Ia be- noted that the daily average OF runs J., anacr
,ay Of J% tn, .u1 't n HfIn "w Aps
A mail drrnc In net st~k, was recorded. nlt t ,
s"t OF "" anp" end , I"rt for the last two
MOI III, and also that Of August u year ago. .
AZ penn: .r.- A% s.:E I..S " ,:%'
T" ., E. r. IL: q: :a: :' :s: H
y; II; ;> ' $ ::; : ;;; :!;i
. ..."s., S si 81, s sssi;
The nmclcye Pipe LIN" por for August indicated ,u y,
material ,hrinlagc III deliveries more than To an
tn" Production, further addition EVA, w,s'
TIr reports for August and July compare A. follows
ls",r rlr- Line. uy 49," A"s ~" in, 'h.sg g.i
"a, 1 ,'., ~, s a ;cs: I Ds y -
Ewes. r.rIvr. .o sls 80 ,,s Inc 5,sI
A. 4; DIV 5 S.,i. f:'4 ! iiS;5 Dr.. a5s
~ irr..Ia" W ~ .oi21 :3l.s Inc. .I5;o