New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-21
THE PETROLEUM MARhE1.

Daily BlDle Neaulle
THE PETROLEUM MARhE1.
STwS FROM THE FIELD AND RANGE OF PRICES.
The problem Of meeting Russian competition is grow
ing TO be a serious to the American Ieilncr
Information of startling nature has been received In
this city, which would seem almost incredible were II not
for the trlstwOrhncs of the whence ii comes 1t
is reported that new fountain has broken ont in tho
Russian oil fields, which started flowing at the upaa
lelcd rate of than 100000 barrels day. This
is than equal the total production of the New
York. Pennsylvania and West Virginia oil fields and it
i, more than the daily average Of the Russian produc-
ton Of crude last year. The daily output OF the Rus
sian fields has. therefore been more tlnn doubled 10y
the opening of this phenomenal guSher OF course, like
all monster sIshere. either here or abroad. such rate
of output will not be maintained. The rate Is about
double that Of the largest previously known Russian
oil well. but unless il should prove HAT the we'll
l. IN somewhat new territory drainage viii be felt more
quickly than In the OF the earlier fountains when
the fields young. Nevertheless. for some
time there must inevitably he output from
The Russian fields and the natural cnect VIII Do lower
prices and cheaper Russian Tacd IN The markets Where
striving 10 hold our ground IN Increased mar.
gin for the undelSellng OF the American manufactured
article by Russia cannot be permitted 10y the American
relner with safety. This column abOut ten days
for the fst two nlontis Q; s02 compared with IL.
previous year 1t may te we'll right hele to divide IN.
shipments into two months when II viii Oe seen that
NOT only were the shipments IN fehary large than
1891 much larger than the increase IN Janu
ary. Below the total shipments I'm barels) from
Batoum for the first two months Of s9l and 1882:
s s;ss:E s;;.5 ;s;sss j5:si
Total pol................- 51S.0i 9o.G5o a0o 7os
There was slight weakness in the refined markets
here last week and the INCLINATION is toward lower
Esc P PORTS R% anSs to , eS E1% s
at as5asooo gallons: an Increase OF o,osoooo gallons
There was slight Increase in the ontpnt of the
Mcdonald pool last week, but the total production in
March, according ~ the indications OF The pipe line
reports to date will not result in so large an accu-
mutation Of stock as in last m0n We NE are net
Increase at less than 10000 barrels. The daily
Sses Of Sra Sss daily ave i Of barrels
February 81 .269 barrels In March 1891 14,619 bar
res in March. 1858. The deliveries have averaged
72,67! barrels day COMPARED VIII 4l3o 91iGei,
barrels in $50; 1906 barrels Ia 1850 and e69l6
barrels in March 1885. The charters have averaged
l5ol e32 barrels ia 1880: 1896 barrels I'm 80
and 3.,223 barrels in 1855 The IneomPlete pipe line
l5thJ follows:
To-; ss Is, T., s9 i:. r
The Buckeye Pipe Line report, from Morch to Il. in
elusive, follows
.Ern., Deliveries. DeiT,r,c..
lS Ss4aa SoI per 5e gS ' Gss 10
There was Slight Increase in the transactions in
crude certificates last week, and the tendency of
prices was downward. The superficial reason for the
decline the nse in the output Of The Mcdonald
pool but il is probable that some early knowledge
Of the news from Russia, which The Tribune is able
lay before It's readers. leaked into market circles.
II was not generally known, however, TINT this great
gusher had been opened. but the c0'inS Vas "o a.b
near 20 lowest prices.
The range OF prices and the total dealing, I'm M
tional Transit certificates at the stock Exchange ard
the Consolidated SiOcH and ir'rOcGn EAchIngc for
the LAST two weeks were AS follows:
ENcnanoe. 'OnSOl'catcd
Week ended March IL. March 10. March L. March 10.
Opening 80 90 80
ilgneet ~ 49,
lowest -
s sGa l barrels 800. - $500 CLEO 1900
The tendency of refined oil downward ana at
the close prcss were OIL 10 points at ESQ cent, per
gallon In barrel, bulk $50 cents in New York, the
quotations Philadelphia and Baltimore being poiats
bcrow the New York figures The baslng price ~ re
fined .c,ses unchanged at 750 cents per gallon
bit actual quotation, were easier. Crude declined D
points 20 5.65 cents In barrels and $40 cents per
gallon in bulk. Washington crude being AGO lower at
5l3 cants IN barrel, ana 2.GO cents in buiR Napiln
d. off prdnts at $50 cents per gallon.
Foreign quOatiOrS-At Antwerp there was n fall OF
IS franc TO ii IL francs per 100 kilos, Bre1en ar
G.35 marks per 80 kioo and London at $40 Cd.
pr Imperial gallon being unchanged.
Oh CITY Penn March 1o-Nstoial Transit certificates
opcucl SIC; highest 57i4c: lowest 30 70 closed jGc
sales - bbls clearance, lOi coo bbs; -Lpments
P,sburg penn. March i3-PetrolsUm Grmer National
Transit certificates opened at 37c closed At 57sc highest
bradford penn March l9--National Transit cer6ca'es
oDened "A 60sc closed at JOic highest, Ole; lowest
56c cleSranccs, IL 900 bois.