Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-04-17
EXCITEMENT IN OIL.
The FIgurts Reach a Climax and
Suddenly Drop.
PREDICTION BASED On THE BOOM


Pr1uUnu, April IDOL has now
reached that d zzy height where spse.
ulatos are afraid 10 deal in It aud there
WISE u0ta sale on the pi,Hburg 'A'
chang during the nrt half hour 60.
day while the salts ou the OH Uiiy
exchange during Tho same period ns.
grcgutoI only 20 bpuoIs. slauIafI
again put up ~ price 10 cents Go ..5',
au May option was Or rel uelrai tuu
opening DE g.7l. Cuu Uil was offered
utg.Og. There we've no buyers and the
price era Iua'iy dropped CO. 49,, then 90
~ anu Ht lD.aJ 300 wa' nlI. While
money brokers aye IruIi ;lug 81 Obj
iufs week, few have sufficient iauh Boo
10 lH invest.
GLASGOW, AyrlII7.-rhc Scotch on
company Of wucuug here today
raised the price Hf petroleum "a ger
gallon, making an ADVANCE o' 80 boo
one wtUB.
LFFECIs os rrE UESHUAL uuaISEs5
90 IiE COUNTRY,
The sluluwrst Pennsylvania Oh
COMPANY, q SaudarI CUrUrTu, hus
bought tue remaining tnr.y.'luftuH
igtrfCBt To- tho Warrington aud Fair.
view, W. Va, Territory, containing
about 5000 uuIys Brl sou wells with u
production uI 800 20 barrels 1ny. The
STANDARD has arH purchased three
litu- Interest 100 tuu Garter lll com,
uauy, uf SistuIy.l'g, W. Va, st f. price
iu the uriEuu1ruUUI 90 .-Un, .NI. The
Carter on company Uwuuf at.u' Zoo
wells with "a daily production a, luIl
barrels.
David XIX, one OF tue b,E posted
men iu the OH tu..ut1s, 300 discussing
the present b. ON lu UiI, sBlJ3 "pugru-
lrum will ua iuH mJauH uI
Bringing The country Gus OF the
period OF depression that has
prevailed for ,Hu lust two year.
rnut WIS the ussolu 1873, when our
nu1uCur were at 70 low Jhi, rlI maize Che
irst advance u.4 o. O. went up tie
tusiucss Of tuu country Improved. Tue
uamu WAS true lu lssi. The most im.
purtuut effect OF tue increased uttu on
the finances OF The county VIII be- 900
the increase iu the amount uf gold
brought into the country IN payment
l0t the pett lFum we export. WcauIp
netting like twenty million blrTglg
annually ami With the price hanging
shout 90 guuu, the aggregate rrCripts
from this source only amount o. about
slu,UOJ,uIu, with OH 90 the present
price, We would receive rJmUihiug like
il,nuO,OOu ilf our export, Tuls
would uu clear gain OF 1856, 1000, 900 a
year which wguIi help towards OF
setting the heavy tNygIis NJ gold the
past Two yrUu. Bgt that Do not tho
only influence ni work. Our mnuu-
IscluruF- uTu already ceiling the boom.
1 thiuk the 90 inturpsl6 viii usu con.
Siderable moro than twice us much
iron OF OH kinds THE year us they Iil
lgsi, Illa viii give ompIUymuut Go
h.FIB 81 muu VINO vii. become good
buyers anu 10 create % better market
Tor OIL kinds OF moTCunUdlsr.n
a FEATURE o. uE MAWLT
The market was much quietsrup o.
noon than 70 WAS yesterday AND tho
range fluctuations was narrower Tho
uiFhrHg Uuint reached was lIu anu 40
noon May options stood g.H- and case
gbs. bid. Tue feature u sue market
was iHB announcement that tine Ate
inuuC Refining company hgl raised
the price OF the refined article another
cent @ gallon. Iu.H may have bull.
ish effect upon the market this alter.
noon, a. 10 WAS not known until nearly
~ O'Clock. Tue total advance in price
OF refined oil the uHst two WtuEt D. 4
cents n gallon, or - barrel.
BREAK Is PRICE COMBS LIKE TuuS.
LEM
Oh broke ir m 2.B2 TO 2lOst $3.50
this HiteTnuOu ava closed NJ LII.
Great excitement prevailed on tho eX.
change.
Tho break came like thuaGpr
storm, The market had been hoyeTlug
ab ut gBg al afternoon with light
trailing and from tho fact that the
price Of refined oil received another
llft today no big break was expected.
but at $3.50 the slump began aud inside
OF no minutes % hsd gone from 2.12
tO9.a5. Brokers TODD about dgZUd by
the audiences OF the blow and each
quotation itom the OIL city exchange
brought u lower figure until $40 wa
reached. Within few minuiea OF
closing time 10 rallied seven poiuts.
The excitement was more Intense
than Et any time since the present uull
movement began. Tue operators
scarcely know what 10 make VI tile
situation, though many predict the
market Will recover tomorrow,