New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-23
THE PETROLEUM MARKET.
FROM THE FIELD AND RANGE OF PKiohS

NEMO W.
There has been no change for the better IN ue
,etroIeum situation since our last weekly REVIEW 'H
the contrary, the production has exhibited II tcnuon''
10 rise and the refined markets have weaheheu Sl-"''
both here and abroad. The foreign position Is ""'
particularly strong. as stocks are hleher at hoSV p""
than at the ceres pOnding period OF lo'o' anu ."
interior movement is by no means remarkable !"
disposition TO anticipate wants Is Wholly "M"F
purchasers being confined TO immediate neces'i"c''
Fortunately the steady. natural growth or cohSu"P
,,on assures a satisfactory movement to ths AnlerrI"
uroduct and the exports from the Atlantic ports since
January 1 have been 115 $4,000 gallons, an ihCrcaS'
Of lG.o30,O0 gallons over the same tine Il year "s''
The movement for the year will prObaDy rP''''"'
a large gain over 1890, but for the time beihs ue
foreign demand is not likely to offer any support sto"t
enough TO Offset the increase in production III i' c"'''
on values.
II is hardly likely, either. that the contest In the
ohio fields in which the standard oil Company Is
now engaged will exert a beneficial influence upon
Penn,y Ivania crude. Tile Manhattan Company i
the opposition organization and a more thah uou'i
bitter feeling is cngendcred in the heht Dy uc i"t
that the standard people look upon the cfeatoh Vi
The company as the result Of bad faith Oh the part
Of certain interests whose property was DouehJ DS 'c
standard some time ago. The Manhattan has been
branching somewhat freely into the refining business
and As a consequence the bigger company has an
uounted a reduction In the cost OF licl on 10 MAJ.
ufactures to 20 cent, per barrel; lIS Is ~ r, no
Ter barrel below the priCc at which -" crude article
/, purchased from the producers ana suggests INC VIsW
with which the contest will certainly be carried on
II is probable thai the ohio oil situation VIII NOT al"dls
remain 50 thoroughly neglected by the splrt oi spc'-
uialion aS 1t Is at present, but there is now not the
slightest indication OF any sir AZ te EAchdhses IL
the once welcomed BGckcyc certiheates. .,,h
There have been new good well, opened IN south
western Pennsylvania in the last wcea ana the re
sult il that the daliy average Of the production S
doubtless back to 10000 barrels a day. rms !,
n large average to meet The deliveries tor the heNt
few months. the first ha' Of the year g'ne"iIN
howins 4 lighter average Of CONSUMPTION th1n te
stratcd that the daily average of deliveries in the
first half Of 1880 Wa, 70,f15 barrels per day, aSalnst
90. 2o2 barrel, in the last half. For the year thc
deliveries for January and February. this year have
amounted To 4.G37. 7,s tnircls. a daily average %!
sos barrels. Tho runs in the two months amounted
to J,2Oi. 800 barrels. o. 1-,21' barrels per day. snow
ing a total excess Of run, Of 5d7,i61, barrels. or
an an excess Of 0.6I3 barrel, per day. The statistics
of 1890 were just the reverse. the o"ilFerr' SnoM
Ing for January and February an excess Of deliver,
barrels. 1t is worth while to contrast the two years
Jan. and Feb. 90 s,ti Ga : ~. AZ :: $S3
jan. and Feb, 'oi..5,2oi,9o' sS.2io tSSl7'o 5000
Change. .... ..1ol1 1903 -l.l7.Gto -a22717 -9776
There is now a prospect that there viii be an m,
crease in stocks this month. \ week ago the partial
lcr,Ifc. -" Iaicr r,,urnS now throw the balance on the
other side. The runs TO date avcraEn 5o.l4J barrel,
per day. against a daily average ~ 7i.Glo barrels ~
IN Isl /" and col barrel in March. i7,7.. The De
liverics average per day 90. 500: against 20,
394 barrel, in March. 1870; 1856 barrels in l70!''
G6'sl6 barrels in l5-s. and 1000 barrel, In March,
Is-7. The pipeline figures from March 10 ~
charters to Inc 30th) inclusive, are appended
Excess
Runs. Deliveries. runs. Charters.
Total b1rrcls.....1 80. 10 1,23l,3@i lOl 33l f0S.,,
Ayoragc ne day.. 1o,If3 Gf.SO9 1.3"i 0o'4lf
The Buckeye Pipe Line reports as follows:
Euns. DELIVER -. Excess runs;
TI2 ;s4.g sSl 3, day. c 5g.:s ' 45.94s 'f i!.5s5
A further sinking in the levels Of crude yslGs; , oG.
Cured last week, but on a diminished volume oi Duel-
nc,,. Al The stock Exchange National Transit certii,
catcs were dealt in only spasmOdicaly, but prices dd
moi fall quits a low rs at the. Consoltdlud Board
Al tho latter exchange there was a brief rally from
- i - cents to - cents. but subsequently, prices
gradually diftcd down to 7la7l7s cents; the de.
cline was the result OF bcarish field news and the lower
quotations Tor refined petroleum. Yet the bears were
not aggressive. ard the market was unchanged IN us
professional aspect. The tendency OF values at the
end was stiI downward
The range of prices and the total dealings IN Ma,
tlonal Transit certificates ut the stock Exchange ana
ihe Consolidated Stock and Petroleum Exchange lot
the last two weeks were a follows;
Stock Exchange. C0nsCndatcd.
Week ended Mar. IA. Mar. n. Mar. Il. Mar@l.
2f Y?sSs.g :~ ~~ g: rs g.: 5&$$s 8
| Lowest ..-.- 30 - ia
ILAI - y