New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-08
TIE PETROLEUM MARKET.

NEWS FROM THE FIELD AND RANGE OF PRICES.
In the refined petroleum market Che features last
week were increased freedom Of offerings and some
decline In prices The exports OF crude refined. ETC.
from the Atlautc ports since January have amounted
to 10 800 900 gallons, increase the correspond
Ing period OF 1891 OF 4.62a,0O0 gallons II is en-
couragng to see that the American rcaner Is making
SO iar Zee ord in the year, but 1t Is apparent
that RusIas competition DC met only by an
extremely low mnge of quotations. The visible
supply Of refined petroleum at tile seven principal
continental European ports IN January Is Wis 6i3-
100 barrels decrease compared with the samc
dnte last wear Of 2O9 900 barrels. The amount taken
for consumption for the same ports from July l,
sol 10 date 3l97 900 barrels, u decrease 'i
900 barrels from the period VI the preceding
Last weeks output of the Mcdonald district made
further increase so mat the produv'o NOV aS o
barrels weeks ago. The monthly Held report ior
January gave some Indication that the produoos uiu
not Intend to leopard their interests by eNilaVagdht
operations With the drill. Inc average daily new
production fell or more than 5000 barrels from De
rembcr and the average yield per well was consider
ably reduced. There also reduction OF nineteen
IN the number of wells drilling and rigs up ana oulhs
IL is evident however, that decidedly greater con
scrvatsm is needed to avert renewed depression IN
values. and there Is no danger even now tt ie soutn
western region may give fresh proof OF It's WONDERFUL
fertility in oil. The following table compares the
field reports for the last months and for January In
the three preceding years:
Penn fcld, 1889. 1890. 1891. 1891 1s9s
jan Jan Jan; ] yih P sSt ' iss
-
Now production, bbls $500 7so lS'5oa ieo6e IA ~
Average ler WE'LL bbs 9.6a 1879 ~ 'o';3 o''5529
W6lIs drilling ......... "a 59l 40. Sl ?5S
Rigs up and building. 81 81 10 no ~
Total new work.. SOB 1888 CO.. 80 $40
The incomplete reports of the Penis. lvnnia pipe
lines show an excess OF runs deliveries OF 494.o
barrels This would indicate that the fill returns when
received will record increase In net stocks OF about
800, coo barrels. The January figures SHOW uniiy
average OF s57+0 barrels In runs compared with
daily average OF l24 132 barrels IN December ls0l,
and aI barrels in January 1901 6s ooS barrels IN
January 1890 10 23 barrels In 1850, and 36 .23 bar
lcls i'm 1oss. Tic deliveries have averaged 60.i0l
barre day against 5000 barrels In DecemDer 1s9l
,G25 barrels in January. 1891 $500 barrels in
-UO, 10 051 barrels In lsS0, ana Ii,lo3 barrels IN
1855. The learcs were rs follows:
Total bbs....,...........265s ~ 2Lo3'5l9 42t,oi
Average per day............. s5Ho O9,1ol 1895
The Buckeye Pipe Line reports for January follows:
Excess
Runs. Deliveries deliveries.
Average per day .............. 3i6 1850 l25Oi
Last weeks crude certificate market was somewhat
Disappointing The monthly field report was NOT. 50
busn had been hoped for, and its effect offset
by the renewed rising tendency Of production In the
southwest. lieavness In the refned market also ex-
erted influence toward depression. Certificates de-
cncd from 63 IL to 80 $4,000 IL cents. Business
was small at the Stock Exchange, but the weakness
was moro pronounced. The markets closed only
steady.
The range of prices and the total dealings National
Transit certificates at the Stock Exchange, and tho
Consolidated Stock and Petroleum exchanges for the
last two weeks were az follows:
Stock Exchange. Consolidated.
onS %Gns ended Jan TO- Feb g. jan 80 Feb
I isa.s' 81 81. S. g. az az s. s..