Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1895-04-24
OIL TAKES A SLUMP!
TWENTY CENTS A BARREL is THE
FIGURE.

Trade Dull at Pittsburg- standard Oh
Company Puts in its Thumb and Take.
Out About all the Certificates that are
Left.
Pfttsburg, Pa, April 19-Oil took an
other slump this morning. and after
opening at $40 it went down to $2.2
inside Of twenty minutes. The decline
was caused by the announcement that
the Standard had reduced its price for
credit balances 20 cents to $2.4O. 1t re-
covered five points and 1880 stood at
1925 bid for May option. Cash oil sold
for SIPS. There was scarcely any trad
ing on the exchange. buyers being
afraid and holders waiting fer a re-
| vival
There was no excitement in the oil
market from 1890 until noon. The
price did not fiuctuate much and at
noon stood at 1925. Trading was very
| dull here but more active in Oil City.
| Oil closed at 1920 today and the
STANDARD picked the exchange of about
all the certificates that were left to
trade on. Everybody who could sold
out to the Stanard. John D. Barbour,
a prominent broker, expressed the sit
uation in this way: 1.-THE Standard
/ wanted to squeeze out the certificate
holders and it has done it. There is
not bit of ammunition left for the ex-
change"
Oil City, April 19.-Credit balance oil,
which had advanced steadily from 81
to $3.50 per barrel, broke today for the
first time. The enormous blocks of oil
that poured into the Seep agency on
Thursday caused a natural reaction
and lowered the price 20 cents barrel
During the panic in the speculative
market on Wednesday. credit balances
were held steadily at $3.50, or 3S cents
a barrel above that paid for certificates
and the market for the latter was in
an extremely critical condition owing
to the number of traders who were
carrying cash oil by taking all certifi-
Gates offered and advancing the price
OF credit balances. The National
Transit company restored confidence
and prevented what had threatened to
be one of the greatest financial panics
IN the history of the oil fields, or oil
exchange. Over 81, 500, 900 were paid out
TO producers yesterday, but it accom-
plished the desired object
The speculative market opened weak
and when the decline in credit balances
several lots of long oil thrown on the
market. Representatives of the Ma
tlonal Transit company were the prin-
ciual and about the only buyers. Ger
tificates opened at $2.41; highest $2.41:
lowest 81 20; closed 1920. Sales $4,000.
Bradford, Pa, April ia large
crowd of men stood about the purchas-
ing offices Of the pipe lines this morning
before 10 o'clock awaiting the next turn
in the oil situation. When $2.40 was an
nounced for the price of the day
murmur of disappointment was heard.
The action of the past ten days has
subsided and business is going along as
usual. Oil men who came to town to
watch the fluctuations have returned
to their leases and are working like
beavers to get out what oil they can
while the present prices remain. The
Boviard and Selifant Manufacturing
company are building n 50 900 barrel
iron tank for W. L. Hardison of Cali
fornia, to be used for storing oil from
the fields of Peru.
Findlay. April 19-Tbe decline Of &c
cents in Pennsylvania oil today had no
apparent effect on the price of the Ohio
product or on the enthusiasm of Ohio
producers. The Standard today offer
ed the city gas trustees $4,000 cash for
the contract which the city has till
November to get oil at 5S cents per bar
rel for the gas pumping station. The
offer was declined.
London, April 1e.-In its financial ar
ticle the Times in discussing the re-
vival ftrade In America and it's effects
on the railroads, says:
The rise in petroleum is largely due
to manipulation but 1t would be a mis-
take to rea tit as unimportant, as it is
an evidence of the revival of trade for
petroleum, like many other articles,
has been unduly depresA I'd for som.
time past. The Standard Oil combna-
ton has taken advantage of the situa-
ton, which arose from ordinary eco
nomic causes, and it is unlikely that the
price will reutrn to it's former low
level. A substantial rise in the price Of
wheat would benefit the United States
greatly and would probably turn ex-
changes in favor of America, and thus
prevent gold being shipped to Europe.
even after the gold bonds sold in Europe
have gone home. The prospects of i'm
proved trade are hopeful both here and
in America, but the currency question
is still an element of danger The sue
cess of the bond issue may make people
forget that it was merely a pallia tive
No permanent good will be done unless
the period of grace secured by the IS
sue is utalized. The maturing heavy
installment of the gold loan caused no
dlf1culty in money rates, which were
unchanged yesterday
Massachusetts, Middleweight Championshi
Boston, April 19.-Fully 1000 people
saw three excellent boxing contests at
the Farragut club tonight. The prin-
cfpal event was the contest for the
middleweight championship of Massa
chusetts between Dick O'Brien of Lewis
ton, Me-, and Bobby Dobbs of Boston,
1t was scheduled for twenty-five rounds
but after terrific rounds in which
O'Brien f1oored Dobbs a dozen times.
Referee Captain William DAILY, Jr.,
awarded the contest to O'Brien.
The contest between Young Starlight
of Australia and "Muldoon's Pickanin-
ny" was one of the star events of the
night. and when ended in the ninth
round the decision was in favor of the
qickaninny. Both stripped at 133
pounds and for five rounds honors
were about evenly divided. In the
ninth round Starlight deliberately
punched his head into the pickaninny's
stomach. nearly knocking the later out.
Starlight was f1oored repeatedly and at
the end of the ninth round clung to his
opponents neck to save himself from
being knocked out. The referee award
ed the contest to the Pickaninny and
Starlight was holding his head as he
of hn