New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-07-21
THE PETROLETM MARhET.

NEWS FROM THE FIELD AND RANGE OF PRICES
Movement. are foot In petroleum circles that promise
d, lopm,nt, likely to call fresh attention TO this long
neglected commodity. They specifically affect the crude
situation but thcr' is ground for sapposing that the
course of tn. raw material markets has cntrNy lost SYM
pathctic influence upon the refined trade. The demand
for p fined oil has not vigorous FAR THIS yNaf aud
m, outward movement somewhat behind that Of the
corresponding period Of 1889. But "Kicman's News
Lett r. asserts that deficiency in exports was rc
duc,d during the past week by clos 10 100000 gallons
The .n ut. from Atlantic ports from January TO datc
aoupt To total Of &04 223 900 gallons. decline from
IN, prous year of 947G0O0 gallons. or about 2OpCoO
barrels y crude equivalent Tho season for more active
demand from abr al f., approaching and the petroleum
charters ar beginning To reflect preparations Tor potter
inquiry Price, for refined oil ar fuly steady NJ nome
and abroad IN, home quotations may be entitled strong
4 meeting IL the Conference" OF Oh Exchanges VIII pf
hold in .b. city to-day to the question o. listing
Buckcv, tOhiol Pipe Line certificates II the S"hu"ru
OIL interests can be persuaded u Issue u'e oF''- ''
An earnest effort will be- made 10y the O"eoiuaIeu anu
,hn piusbure Exchanges ~ secure this result. Inc
,,,I a, the OH civ and Bradford Exchanges is not
fulv known but the sentiment Is said to be growing
m favor II the new departure" The need Of 1t Is clearly
found in tn, imperative r'quln 'nehts % hFNat OF
u.ue.s among the brokers who al in PETROLEUM, whose
activity is needed the prosperity oil e fAchaheeS
The matter IS not one, however which can be settled
oa.hand The question Of storage charges VIII pay an
important part in influencing speculation III any lsu
ohio cert0cates The attitude Of the foreign trad"
too,ri h. innovation do not consider 10 be NtalN
tmnortant The rules of the commercial exchanges at
nr.,nt afford a nrotecton the buyer Of the manu-
tc,~td Goods and any modification must receive the.
appro,sl OF exporters A. u the influence OF specula
Xxx, ,nouad Ohio aud Pennsylvania oils be dealt In
Extraordinarily at Exchanges, that Is matter IN
,st th stands ON the same footing with
t. home trade thing is u be remembered by both
standard and Exchange interests in considering the sub
let this wcek-the need Of harmony and OF mutual con.
sons II any innovation is 10 te made In the speculative
Ih,r" was no particularly developments I'm the
Statistical posltion Of Pennsylvania petroleum. The pro-
ductiou Is estimated TO be- about 10000 barrels per day
Inn tho deliveries sustained At rate which compels
, do,inlnr tendency In stocks above ground. Heavy
bnmcuts should be the rule for the remainder OF the
ar ~ that sensational Held discoveries viii be needed
Ia alter substantial basis upon which the hTmness OF
,hc oil situation rests. The partial returns OF the pipe
lines indicate material reduction In net stocks TINS
month The daily average Of is 6792s barrels,
against complete returns OF 10000 in June and % "a
barrels In July 1889 and a 6SS barrels In July 1855
The daily average Of deliveries this month has been
$50 barrels against 49, BIS barrels N June en0 stN