New-York tribune., 1890-04-14

THE PETROLEUM MARKET
NEWS FROM THE FIELD AND RAN"h of r'i0'


,,,,, ,,o,, THE FIELD AND RANGE OF PRICES.
When the price of commodity ike cruuv pe.'o
ler,n falls 30 cents per barrel III ie" mo"''' ~ II
-, ,hot observers should begin to doubt whether
~ ,o.. ,ovol may he expected with reason. spccu
Ioton I'm this article is most limited SCALE ana 'e
short interest may easily extend its proportions DeSo"d
,,s mower Of profitable quidaton The price OF rehh
,rar,o crude or to speak more correctly. OF Ma
,;o,o, Transit certificates, has been steady III the
w., o, oround 80 cents, because the bearish statis
,i, ,ou, bcinc pubshed were anticipated by the long
and short selling which produced the fall III values
from al L. A large part OF the liquidation OF Duh
accounts created when production was decreasing mas
certainly been completcd and the tendency OF the
wsstcrn producng interest to sell In advance "f ",
output NAV be carried to an extent tha VIII provoke
- .aoo,,o, un,card OF course the ultimate range of
roues will he determined by the course Of supply ana
demand and the features that shape themselves III
Americas foreign trade Should there be collapse
I'm the Russian pools, most favorable chcct woud DC
o,.r,cd an nrices should the set unrestIancd
activity Of the drill the Pennsylvania regions con
,iruc tbcre is n possibility Of a stimulus in output
which will oyershadow influences that otherwise would
be bullish 1t rests largely Win inc actual pro-
ducers Of oil a 10 whether the 5Ocent level shall mark
hard nan, or be merely the brcathlngs spot for fresh
decline Conservative and protective acton on their
mart may exert decided influence on the future Of the
markets.
rho on mort busincs, in refined petroleum runs along
in uatur, channels but the only buying at the mo-
ment /, to supply immediate needs. Inc weakness III
crude caused further rccc,>ons IN inc rchcu markets
last week both here and abroad The business j. be
hind that Of year ago, and the unofficial estimates OF
the export, of crude, refined etc, from the Atlantic
nor,s from ranuary | to date place the amount at
25o0l 900 gallons. decrease OF .3'6i'ooo gallons
when c0nr,tcd with the corresponding PERIOD Oh looO
,rhc nell ncw, has been what may be called bcarish.
Iitt ,birC the developments III Greene oouhtl, Ichu
promising. and the ndlGa'l"ho 10 n sun ~ pO1 10 rh rio
adj ptio. Of conservative pocy WIN regard 10 me the
atc many Of the claws away from any bear argument
based upon expectation OF Increased product!oh. -.
The ilarrh report Of the pipe lines very closely ntS
into The estimate, made in this column week ago We
guessed that the increase IN pfoGuoYh ha I'Seu uY
aa vsrare TO g., 'IoT Tarrc per day We ndcstcd
The total net stocks OjOOOOO barrels, the actual
ncurcs reported are i0.4o2.5j5 barrel. The daily
barrels. against daily eAc'si exc o' u"mvrrie, III rrD
a rr. OF a p daS EI nyerasc Of dcyccS in March va.
abont 10 600 barrels below the whole avera.c Of the
movement was made to both tnropca,n, and A,alic A'
ports. An increase in dellvcn', "nniu soon o'eoh
srouhd sr0 Int the daily rate Of runs is within few
thousand barrels Of tine Sn pd rYog,o ws, vig i' rp IN IN
wealth almost phenomenal gusncr' Ihe M tatieS i
that are appended need no comment 1he ir>t tahl'
syc. the complete pipe line reports for the first three
months Of the year:
All lmos-s90- yainnuus.l,o o.,t - sI9 ~
TS,s IS,s 'cnG's dsgsre, 557Sso9 5iSi555 gi'3 s5i
p. s,'.;; .v..:: .:i:;1 ... z. n
Daily awe c> delv- Si3 - - a.. -; 70 .at t3s s
N' stock t!555. s.sss77.ci5 gs7cii5 q,l7. .s3S
Exec. receipts.
The March reports Tor the last three years compare a.
follows March. N...sn. Nsrch. lsS
Ts s 5,Dt.. - !c5:sf sof !s55is .55is i3s 5i1:s5
pei. s. e:; ' ss:f$ g" &; s$ .$ Is i #S.j 81
pav a,sc ca d' 2.92q a q .i 4.5 10 So 5is ,5s
T ''0, crta,lte. eoaj ll9o3o5s 45Fs-G
.f>cc,- receipts.
There was a meeting If the Conference Of the on
,>rhan.os s-f week Whi IN resulted M the adoption
Of resolution giving the 'on-oldaf'd tA,"tI-c NV
privilege OF makius ANY change n ~ rue i"r 'I''
re,tor nm order - preserve the business of the IA
! change, A. against stock Exchange competitions 80,
There was au advance made by the >tAhudiu 'h
c,nn,uy i'm the price Of ohio crude oil to 30 cents
inllle the pi7cc that paid few weeks ago We
md nd mo no ,ml o ono e ST rsH%s n I'd ~
II, fhc price appears to br due - contest between
the standard and outside n'ec,t, IN 'hc ra1 "I. Ii
The Pcnn-llvana crude ceri'i,air m'rso,s [ iHsn S
wreh sustained fair volume OF a'tiNlN l.I'cs ip.
ch oil Nere dcpre',cd io - I" - rcnt, The
n,tior. declined from Il Il 10 - B cents and tirn
rallied 70 = t. II > cent?, me raly Wa o'g,unr l
'r,n,rti,,. \ .uf,Icnil, large short Interest
I, IN cll.;cnce iau- GOOD basis for ae.fe,,icl,
y any bull" pari, but III" ao>cn'" ~ ORGANIZATION
ON ra, ,ic may price, for the time being still
Tt' r,r, of price, ana the total dealings in Ma.
m",I d nnm, rl'hancc and -. stock FNcanse for
the last two week, were a> follows