The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-04-16

PIrrsBuRGu, April 1J.-0il continued
Its upward climb this morning and no
ono seems willing TO predict whcu tho
return trip will begin. Tho Standard
put its prico up 9j cents to -, which
gave prices on the exchange 4 lively
impetus. May options opened Il. s. 05,
bid, an advance OF ak cents over tho
closing on Saturday. Tho frat sales
were at 81 10 and tho prico kept going
up until about l0:l5, whom 10000 bar.
rela sold nt - %, tho highest point vet
reached. Cash oil cold ut g 81 and at
1880 il was quoted at g la bid. The
normal difference between cash oil and
May option should be about two conts.
Tho market stood at s. q at noon
and soon after it went down to :. 81 bid
There was little trading, not over 10000
barrels being sold hero the first half Of
the day and about G0.000 barrels at Oil
City. The closing price was 50 35.
Tho monthly report from tho pipe
lines controlled by the Standard Oil
Company shows that tho daily average
runs from wells during tho month Of
March was 5000 barrels per day. For
the first twelve days OF the present
month tho average was 5000 barrels
per day, showing Il falling oil OF au aver
age OF 5000 barrels per day. Tho re-
port from the Buckeye fields shows lust
tho opposite condition OF affairs. The
runs Of Buckeye oil for March woro on
an average OF Il 600 barrel, per day, and
for the first twelve days Of April 1900
barrels per dav, showing daily in
crease Of 400 barrels.
Although the statistical situation OF
the trade furnished ample grounds for
u sharp advance in prices, the latter
have now reached point that CAUSES
the public to look for some ulterior
motive. Tho fact that tho independent
producers and retiners held q meeting
in this city last week aud refused to
give out any information relating
that tho independents wero being
squeezed by the rise. Heretofore when
tho Standard wanted to get rid
OF competing retiuers, it would ad.
vance the price OF crude and de-
prcss the price of refined, and it
WAS only 4 matter OF short time
until the independents were forced to
retire. In the present instance, how
ever, the price OF refined oil has more
than kept pace with thes advance in
crude. Refined has been marked up in
Pittsburgh about 81 per barrel, and the
tendency is still upward. The foreign
refined markets have also risen from so
to 70 per cent since the lst inst, 1t is
apparent, therefore,. that the indepen.
dent retiners share with the Standard
the benefits Of the movement, and in
this view of the case the theory OF O
squeeze Is unteuable.
Another theory for the advance is
that tho long.talked-of international
agreement between American and Rus
sian oil interests has at last been con-
summntcd. the New York Herald says
this deal has been closed; that the
Standard is to have tho exclusive trade
OF Great Britain. France, Spain, Portu-
gal and most OF Italy and Germany, to.
gether with the Mediterranean countries,
but i: is to leave Russians and Asia free
to the Russians. The same
paper says the Independent in
forests have contracted to put q large
supply into Germany as figures which
prevailed before tho advance, and now
|, is tho aim OF tho Standard to prevent
them from obtaining the oil except at
Standard prices. The Independents
might avoid this by the construction OF
the United States pire line to the Col.
umbIa reGueries at Constable Hook. n.
J. They have obtained from the Jer.
sey Central railroad the right to lay tho
pipes under its road bed. and the work
is we'll under way between Wilkes barre
and Easton.