Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-04-13
Upward Progress of the Product is
Continued.
NET ADVANCE FOR TIE DAY 81 CENTS
The Price Went Up Eighty-two
Cents in the Week.
ORDERS TO BUY POURING IN

P1TTSBURG, Pa, April 13.-ON continued
on its upward course this morning, AMI
fulfilled the predictions of those who said
that it would go TO s. before the week was
out. At the opening the Standard put its
price 25 cents to sl.75 May option opened
at $1.I5 bid, and the first sales were at s195,
an advance of 26 cents over the closing
quotation on Thursday. From $1.95 it broke
to $l.92, and at 1890 o'clock sl92l1s was
bid.
In the first five minutes of trading 1900
barrels of May option were sold and there
was some trading in cash oil at s1.s1 3-4.
Although there is great interest in the up
ward trend of Gil here, there is little excite
ment for the reason that nobody has the
certificates on which to trade.
The new Producers Associa ton, as a
competitor of the Standard in refining in
terests. is having rather hard row to hoe
at present. They are obliged to buy crude
oil at high prices and sell the refined pro-
duct at low prices A meeting of anti
Standard producers was held here yester-
day and discussed the matter, but the re-
Suits not known.
Selling mt Two Dollars.
From 1850 until II o'clock, the closing
hour, the market was strong and active
Just before the close 1900 barrels of May
option sold at s.. and the prediction of
many oil men was fulfilled. 1t then re-
acted to sl.9S1s, but rallied. and closed at
$l.G1x Net advance for the day was 81
cents and for tie week So cents The At
lanuc Refining Company. which is the re-
ceiving end Of the Standard Oil Company,
today advanced the price of refined oil 1
cent per gallon, or 30 cents per barrel. This
advance was made on the basis of 81 80 for
crude Oil, and as the Standard today put
the price of crude up % cents to $1.75, there
Will no doubt be another jump In the price
of refined oil on Monday.
Reaping a Harvest.
OIL CITY, April 13-The advance of 25
cents in Lima and Indiana oil yesterday
was followed this morning by a notice
from the Seep Purchasing Agency that It
would pay s1.75 a barrel for Pennsylvania
credit balances. This is an advance of 25
cents a barrel from Thursdays prices, and
had prompt effect on the speculative oil
markets. The long period of stagnation
preceding the present advance of nearly
S1.Oo per barrel for the commodity had
driven the majority of the brokers and
spectators into other business and to
other portions of the country. but the half
hundred Of the old guard that rave stood the
speculative battles and storms of the specu-
lative adversely from 1870 until now are
reaping a wonderful harvest of good round
dollars in profits and brokerage, as here is
the only oil exchange left of the many once
established at New York. Pittsburg, Brad
ford, Parker, Warren and Tftusville.
Orders Pouring In.
From all over the country orders are
coming from would-be spectators attract
ed by the unprecedented steady and great
Increase in prices. The limited number of
certificates, about $50 in all, prevents deal
ing in extensive lots, but the width of the
fluctuations more than makes up any dis
crepancy in the excitement and uncer-
tainty of the business and the game is
heavy enough to suit the most hardened
speculator, gambler or spendthrift.
On Monday Of this week the market clos
ed at 13O and at 11:15 today was selling at
$196, an advance of 66 cents in six days,
an advance of more than ten cents a day
for the week, and one day of it was q holi-
day. Although there was some realizing
of profits on Thursday and today, the ma
tority Of the buying today was for specu-
lative investment.
1t opened excited and strong with sales
at 1W, or 21 cents higher than on the eve
of Good Friday. In less than ten minutes
after the opening sales had been made at
1875 and at 1921. There was a fair volume
of trading and no signs of break in the
bull movement At l1:20 prices advanced
to 1862 and at 80 am. 1900 barrels
were sold at 81. The close was steady, with
sales 1879 and bid.