Marietta daily leader. (Marietta, Ohio) 1895-1906, 1896-03-26
FEBRUARY PETROLEUM.


The monthly report of the pipe lines
having the custody of oil produced in
the fields of Pennsylvania, New York,
West Virginia and that of Ohio pro-
ducing similar grade of oils makes
an apparently bearish exhibit. but by
careful examination of the figures in
connection with consideration of the
field situation, it is found to present
no features warranting the expecta-
ton of bearish effects on the value of
the product.
The bearish feature is, of course, the
increase of stocks of nearly quarter
of million barrels, due to the de-
crease in deliveries 1t should be
borne in mind, however, that the small
ler deliveries as also runs, are in great
part accounted for by the difference in
the length of the two months under
comparison.
During the interval of the close of
February and the date when the re-
port was made public, the field situa-
tion has developed features which null
ify any bearish features of the pipe
line report, and the course of the mar
ket since is evidence that the condi-
tions are becoming more and more
favorable to holders of oil.
1t is somewhat difficult to account
for the smaller deliveries during Feb
ruary, as there is nothing in the ex-
port situation to indicate a decreased
demand-in fact the shipments during
the first half of the current month
show large increase, while reports
from the principal foreign markets are
favorable to a continuance of an active
export movement.
A feature of the increased demand
for foreign account is the large engage
ments of case oil for far Eastern mar
kets, and it is quite probable that the
total export requirements during
March will exceed those in January, in !
which case the increase in stocks dur
ing last month will be absorbed.
The production during February
to only 2,473,2sS barrels,
which shows the decrease to have been
202. 9OS barrels. The February produc-
tion was over 10000 barrels less than
the average of the twelve months of
1895, but exceeded that of February
last year by oyer 44O, 600 barrels.
The deliveries during the last month
to 2,24S, 403 barrels, showing
a decrease of 2S4,2O barrels, and being
the smallest since January of last year.
The total stocks at the close of the |
month amounted to 5,576, ,529 barrels, |
the increase having been 246, 1868 barrels |
The statistical situation of Ohio oil |
shows several features of similarity to
that of Pennsylvania oil, in that there
was decrease during February in both
runs and deliveries and an increase in
net stocks. The changes, however,
were less marked, and allowing for the |
difference of two days in the months
compared there is practically little
change in the situation.
The runs during February reached a
total of 1,6Sl,9 1889 barrels, which shows
a decrease of 1O7, 352 barrels. The de-
liveries amounted to 1888, 32S barrels,
which is decrease of 200, O33 barrels.
Both the runs and deliveries however,
exceeded the averages of the twelve
months of 1895. The total net stocks
at the close of February amounted to
81, 47S, 77S barrels, showing an increase
during the month of Al ,669 barrels. =
Paint, Oil and Drug Reporter.
The Worlds Fair Tests
showed no baking powder