New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-01
THE PETROLEUM MARKET


NEWS FROM THE FIELD AND RANGE OF PRICES
Coanucd weakness IN the values OF PeAnS!IN ana
po petroleum The lr.ncipal feature oil laS' week.
arscs. would require the cunning OF Ph!iadclphia
lwyer ~ the old .v3 holds goo u VHah the cause
Of the dc;rt,son lhcrc az extraordinary Develop
nent in the irnnsNlNana OIL c"nti! ana 'c 'o1'"ooh"s
ned r,Io, likely 20 furnish statistics 70 warrant
besrsh view OF .i future. Thc PIP line reports are en-.
coqagng TO .vctr 10: they Present u" l">'"hN OF
s.c,c,.e in ne. ,.ons above Ground OF between 10000
and 800 600 bar IL = evident ta' the woS OF 'e
dy in tie ,ai;la regions has iai,d to bring out
thu da,iv ,,ppy tn, predicted few months "a.
Nevertheless, tin, situation las heti changed ~ the H.
,roerc.ioo ~ ONO upon tn. NsOus speculative en-
changes and tho Pennsylvania rroi,>r has to Meet te
u,.aipulat on Tat c>.ln, he Buckeye etihit's. lie
Is confronted with tn" fat that :ooc0ooo barrel, OF Oh
have been turaed speculative commodity the future
OF which is stll lei, to controNeF-y-,hc trends q" ONO
a refusing 10 exhibit Their a!th In resisting scHihs.
While the element employs ali its arts to preach d.
cline for Pennsylvania OIL account OF depression IN "e
Oio PRODUCT. would that the Pennsylvania pro-
duc,r saou organize to project his Interests whether ne
OWLS territory dar~ sand or In the wh'cSahu us
trcts. The reduction in the premium on inc wies'"u
ed announced last week, Is All indicatoh OF WAT Hay
h. looked for the Standard oil interests are not
reminded the possibilities of competition There Is no
us in statistical consideration, for the condition OF the
crude oil markets. for the rehns have yet 10 say 'a'
III Y can treat Ohio oil oil any basis approaching q"
equivalent to Pennsylvania petroleum.
The martial returns Of The PENNSYLVANIA pipe lines from
.cns, 10 - charters " the osth) inclusive as
follows:
rqp.. DELIVERIES. d bHs':: 5, charters . rs,
Total bills ,o =; @4si, "a '1i sOs 'sy s6s:s
n Bucke,c Pie maxes Il c Howl r'turn' f'n'
ss., ~! s.'s s.s - 7s sss
There i. a growing impression IN the trade that ONO
oil will be pushed actively III tie future a. I'M"
l,oduct especially meet Russian competition. Ihere
have been Late spatches from Russia however indi'
eating that already the power OF that rivalry has Deem
seriously hurt There is really nothing in the claims
naie so strenuousy behalf OF Ohio OIL and there no
more ra-on why Pennsy oil should lose the beneh
s .eT Of Tie tad We "St thom p.epIri ms
Ling made refine Western Onto oil is out {. a.n
titles for the hone trade at sa and Of eour,r iecs
S S orn ed s S tee ne ay o should tn"
refined Ohio oil on arse sca BIZ s cloMse b. dSeni p
sriscn GU, for ign Res ,Ica the trade may sA
cn daspS H. s Am S. % St h
t. meet it, The optimistic view :mnodi,d in the a:'c
t. take i, into lit. rIoa:
he ma s Saa %k %e r, HSe' Ss, . dmu m
ward and our table Of rance Of fluctuations tells the story
the rsd did justify depression and the maintenance
III opera, ons in Buckeye Pipe Lie ccIhca,'s almost
s '..' 19e sA:ra o" Ss ha,
spca.ve Speculation Il + prolao" that a, disposition
Sa, no purely speculative basis Of this likely
Sra% s t, sp w to na the tone at S S BUT ,
likely TO respond TO thr eSsrtlon OF alSSat
pSS; and The total dealing, in in Sa:Ionn
atG Stock and a nnd as Si%s exchanges for
n ssGss H>? S.! r. Bucss H'.e Ss;
f 1'55S:;s :::::: 3. $ s:. s: