The herald., 1895-04-05
LOCAL FIELD Of COMMERCE
Advance in Prices of Gasoline
and Coal Oil
A RAISE OF ONE CENT
A Dull Day in the General Produce
Markets
Another Decline in Eggs-Good Potatoes in
Demand and Firm-Poor Stock
Very Weak


Very Weak
Retail dealers were notified yesterday by
the Standard Oil company that the price
of gasoline and coal oil had been advanc-
ed 1 cent gallon or 10 cents a case all
round on all grades. 1t was stated in
some quarters that the advance was the
result of combine between the Standard
Oil company and WE. Whittier by which
the former paid the latter 500, 900 to vir-
tually retire from the oil field and give
the former a monopoly. The story OF
combine or sale is emphatically denied by
the local representatives of the parties IN
interest. Mr.. Lothian, the local partner
OF W. f Whittier, when seen by Herald
reporter yesterday, said there was abo-
lutely nothing in the combine story. lie
said that his firm was still in the oil busi-
ness, and would continue to fill all orders
as usual. When asked about the advance.
he said it was solely becaue OF the adj
vance in crude petroleum in the east,
when had been put up from 90 cents to
81 II barrel No gasoline or coal oil,
Mr. Lothian said, is manufactured on this
coast, as the California petroleum is not
suitable for the purpose and the price
OF the article is governed entirely by the
price of crude petroleum in the east. Not
withstanding Mr.. Lothian's explanations
other well informed people insist that an
understanding has been reached between
the two firms, and that anything like
competition is at an end. OF course the
retailers promptly raised the rates to GUS
toners, and in some of the outside towns
it is stated that quotations have been
increased 25 to 35 cents case, which is
quite an item when the large amount OF
oil and gasoline used for heating as well
as lighting purposes is considered.
& * Z
There was nothing new to report in the
orange situation yesterday. At the rooms
of the fruit exchange Secretary Kimbell
was quite busy answering letters OF IN
uuiry, and there is a prospect of some i'm
provement in the near future. There is
Some misunderstanding about the action
of the exchange in suspending quotations
on seedlings. The business will be ham
tlled by the exchange as usual, and no
fruit Will be shipped on consignment.
Quotations will be given on fob orders,
ana collections will be made through the
exchanges. The following letter on the
subject explains ITSELF
Los ANGELES, Cal, April A, 1895.
To the Commercial Editor of THE HERALD:-
Kindly correct the impression conveyed by
some reports OF our action Wednesday, that
the holders of seedlings in our exchanges are
LETT to consign or dispose of their fruit in any
way they see fit. We simply withdrew our
quotations on this variety, for the reason that
our stock was not moving in competition with
foreign stock, and also our comp titors in Cal
lfornia were using our quotations to our detrl-
ment, from the fact that we Wonld sell only at
fixed price. We are willing for the time be-
Ing, to allow them the privilege of taking the
ntaiye IN h2ng PHI p1ces ana a. its tme same
to the fullest extent; and furthermore, not ons
car of navels or seedlings will be consigned,
nor is there anv disposition on the part OF any
n
disposing of their fruit
Present conditions are such that we consider
we are best serving the Interests OF our mem
hers by not advertising our policy.
Respectfully,
SOUTHERN CALIFoRNIA FRUIT EXCHANGE.
E. C. KIMBELL, Secretary.
y = =
ALI the indications point to continued
Improvement in the condition of the sill
yer market, and the outlook for the white
metal is highly favorable The following
special dispatch to the San Francisco Ex-
aminer of Wednesday will be found of
general Interests
Dealings in silver in New York reached
only so, 900 ounces today or one-quarter
the volume of Mondays sales. With de-
Creasing activity the price also declined.
Monday S price had been 6S cents per
ounce. The best trade in bullions today
was at 67A cents, and the market closed
at 67I to 6715 cents.
made IN the stock market-10 900 ounces
at 67 cents. Bullion dealers do not depend
on such quotations or trade on them.
They feel that they are entitled to make
the price of the metal, and they resent
the interference of stock speculators
Since the dealers handle the metal stock
market prices must follow theirs. Deal
ers believed that the single sale OF certifi-
Gates was made to try the market on the
down grade. 1t did not readily respond,
and closing quotations for certificates
were 67L to 673s cents per ounce. Closing
quotations both for bullion and certiti
Gates were firm.
No indication appeared in the market
that the movement recently undertaken
had run tbs course. White dealers showed
caution in predictions. They regard to-
day action as to be expected after the
almost continual advance of three weeks.
A Wall street banker who is largely in
terested and thoroughly familiar with the
silver question was seen today by re-
porter for the New York Times. While,
for business reasons, he deemed it wise
not to allow the use of his name, he
taxed very freely on the whole subject,
and the deduction he derived from the
advance in the price of silver. He said:
"The reason for the late depression in the
value OF silver would appear to be adverse
legislation, adverse speculative influences
and the effect of the war in the east,
which latter has made China and Japan
actual sellers of silver for the purpose of
paying war expenses, whereas in the
natural course OF affairs they would have
been large buyers of the metal.
The change in the value of silver APP
pears to be due to a reversal of the above
named influences. Legislative influence
seems to be more favorable to the metal
Speculative support is also given, and
with the prospect OF peace and the expect
ed development of trade in the east a con-
siderable and steady demand is expected
for the metal from that direlction.''
Another reason for improvement in the
value of silver may be found in the less.
ened production and the increasing diff.
Guilty the mines now producing find in
covering the expenses at the low value.
AS to the future of silver, | think that
great deal will depend upon the condition
OF trade in far eastern countries. There
is no doubt this Chinese japanese war
may wonderfully develop eastern trade
These eastern countries have so much BEN
ehted by the use of the cheap silver in
their currencies that | cannot anticipate
that they are likely to make any change
III favor of gold, and therefore, | think
there is every prospect for a good and
steady demand for the white metal for
trade purposes.
There is also considerable talk about
q large and early demand foi silver for the
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