New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-15
THE PETROLECM MARKET

yrvs FROM THE FIELD AND RANCE OF PRICES.
NewYork April a. 1898.
Tho market FOR petroleum oil the last week has en-
loved A most remarkable charge There has been phe-
o,eu,l rise In the price ard in tho West this was al
tended with intense excitement At the Consolidated hH
c,,nca IN this city there been little or no interest
taken In The market by spectators because there mas
Lec1 so little material which 70 WORK Inc pId P'iVe
here or the pipe line certificates reached " ~ IN
N. week there no transactions rna'e a"'Ne
81 81 and al this figure only 1000 barrels were sold
Srrh . sale creates about al much excitement as Ten
shares = stock would the StccK Exchans" Ire out
standing certificates which good delivery on the Oh
exchanges repres,n, such narrow volume mat even
moderate dealings might cause a az unlimited OK
tent II appears that the advance IS due In great part
tho Of the standard Oh COMPANY to stimulate
i- n iee, 1eitv. in probing I'D weils Az yet
s[ b1, , been sa,isfacjofy and unless favor
ot deyonen,s should be mad tn mn ne r nsn peW
i about wiped The present production tar oeio"
N. on ar ann seven,h - the amount u annual
n-mr. cn above ground. The nigh prices now paid a,
brought forth ANYTHING which promise 10 ineT9ese Hs
w., .b. supply II The Penn~y; product The ad
a",' IN iac GG ih ORE ana Indana product;
The enormous demand FOR pennsli'ani OIL N me Ias
'l'ne - ne oil ns.Sft Is ~ ,bo nrce contnu.s to ad
foreigners would prefer to take The poor Russian oil to
tn nigh pi Statistics sRhcTea BY III. Treasury
I,rarfr.nf gallons 81 refined oil ana
sroutl The price pa, i, ou, reach Of the foreign
iri,~- his refusal buy American oil would have
great keeping the price where the American con-
no ,s, The question high oil VIII 10 Is azitatng
o men Just AMI while there are mAay VINO predict
tha high water mark has been rea'he1 mere are
h.rs , are inclined believe that the end ~ the SKY
r.,t.'v movement Yet In sight The scarcity OF Oh
Territory and the decline stocks above ground are
certainly arguments for higher prices In regard 20 new
ih., ,hr. iol wells drilling and rigs IN course
~ construction April against monthly average last
y.-- ~ - f. estimated that about s6vo'o is being
t,sh al was advanced bv the STANDARD oil Company
,.sferily on city pipe line certificates. on
moderate volume q business 90 81, with subse-
lions u Local in"r"i yesterday was CON
nn,I advancing N" bid price 20 81 ~ but no tansac-
tons made The acquisition II new territory ny me
standard ON Company Z the features ~ the oil
market l.st week. from al! indications looked a.
though 'herc would b. lon iittle available oil land
nor controlled Standard II evidently bound u
r,lf.I themselves the New Producers AS2cation.
rfis association from lack 4 control II wells n forced
tu' th~ crdc produ.' a. hgh pTices ana sell the re-
The Martial pipe II P"nnsyN anita petroleum
frorn Arm 10 charters - me 10Th inclusive. were
follows. -.
Runs Deliveries deliveries. Charters.
Total bbls ......... $50 .o3 dI?I3 25ol2 6l?sl5
Daily acreage Io.lOo t".lV' "V> "l.-ol
crude pipe line certificates IN reached 81 20
yesterday Refined petroleum quoted at cents per
al,n IN barrels and 80 IN bulk at NewYork and
% cents barrels and 3t5 cents in bulk at Phia-
deiphln. 49,,
Oh IN cases AZ York 20 cents and naphtha
c,nts Tho production ~ the Mcdonald field yesterday
was 1900 barrels ST ls7 barrels shipments. l0+594
r. reign quotations were: London 6'.asst. per i'm
u.rnl gallon: Antwerp 23i per 100 kllos Bre
men. ic.jO marks per - kilos