The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-23

Of uncertainty IN every department OF
the trade, and disturbed the equilibrium
Of tie business IN manner rot wit
neassd for yearA Trading on the hoor
Of the exchange practically amounts 70
nothing. and no pns engzEed IA the
trade shozs disposition 10 buy The
actual trend q events points 10 Eiiil
Iower priees. azd yet the Geld situation
presents buiIish aspect
TIE report Of petroleum exports for
the noaih Of March shoNs material
inerease over those OF the previous
month. but b. comparison II Is found
they were about q stand OF IA value
and amount with the exports in Jan
uary. In March, one year ago. the ez-
ports we're oYer lo.VO.0o0 gallons more
than they were In March Of the prs
en-, year. Yet owing to the increased
price IN foreign countries. q much lar
ger gum OF money was received for il
During the month Of March Just past.
there was no huctuatlsn In foreign
quotations for export refined. and for
rehnsd and for oil in bulk the ruling
figures we're 40 cents gallon. which,
UPON comparison IS found 10 BE- two
and a half cents more than the ruling
figures for March, 1899. The exports
Of American petroleum and its various
products Tor March footed up over 49,
90,CJ5 gallons. upon which 9 cash
vaIue was placed Of ;s.4sIsu. which IS
an increase in amount oTer February
Of lg.7s5.7o7 gallons. and in cash re-
turns OF $3.50 gallons. To be brief,
for over 100000 gallons less oil sent
abroad in March. 1893. over 3l.oO9ooo
more was received for It. The recen;
decline In tie credit balance market for
crude has practically made further op-
eratlons in email calibre territory pro-
h!bitory. am as a result the little army
OF small . oducers win have = hard
row TO hoe. 1t will in al probability,
have a mat .riai 'inau-nce in curtaillng
new work. as much Of the old terri
tory Is too light to operate it at the
present high prices for oil well supplies,
machinery and other material. Had
supplies drtp ped on basis with the
market for crude, It would not have
made any material difference with the
small operator In the round up. but
such is no, tne case. and he must either
suspend the drill or do business at
loss.
a month &c six weeks ago every one
engaged in TIE great industry, from the
manufacture to the driIler, predicted
that the coming season would certainly
be the nos. prosperous and aourishIng
Of any year in the history Of the
trade
The report Of the different pipe lines
handling S,nnsylyania and Trenton
rock oil puts an entirely different phase
to the situation. BY the figures. it IS
seen there B., logical reason for the
recent slump in the market for crude.
The report IS indeed n surprise, ms well
as sorry disappointment to the pro.
Queer. as It was the general opt=lon
of all that the stocks would show
material decrease. and that the daily
runs would ihow a corresponding fall
Ing on. Bis in neither instances was
this true, ahd the buIlish field reports
for the pas thirty days was the cause
Of this colFlusion. Instead Of the
stocks being reduced, in March there
was a material increase in both Lima
and Pennsylvania stock. In March
the shipments OF Pennsylvania oil
showed a heavy decline. while the
Lima shipments were the heaviest re-
corded during the present year.
Contrary to expectations, the runs Of
Pennsylvania oil were the largest for
the last three years Added to this
surprise, the stock OF Pennsylvania oil
increase at the rate Of almost 5000 bar
reIs a day. while the reverse prevailed
in February, and the decline in Penn
sylvanla stock was at the rate OF 1000
barrels a day. This is. indeed. a most
remarkable change in so short a time,
and Is one Of the strongest reasons ad-
vanced for the depreciatlng market.
The Lima stocks for the month of
March showed a net gain OF more than
1000 barrels a day. while in February
the stocks Increased only 500 barrels a
day
Particular attention is directed to the
large daily average Of Pennsylvania
oil maintained throughout the month
of March, which reached the enormous
amount Of over $1,000 barrels. This IS
a gain Of over 5000 barrels n day more
than the daily average in February.
The shipments OF Pennsylvania oil
for March showed a daily average OF
9O,24O barrels. which is falling of
from February's average Of 1852 bar
rels. In tbs month of March the stocks
OF Pennsylvania oil made Il net gain
Of 1890 barrels, while the Trenton
rock product showed an increase of 9s,-
$40 barrels. footing up net increase In
both fields OF 2iO,6sO barrels In Febru-
airy Just the reverse was shown, and
the net decrease in the stock was 2O6,-
23i barrels.
According TO the pipe lines handling
Lima oil, the daily average runs for
March were 46.ss2 barrels, which Is an
increase over the previous month of
2.is5 barrels.
The shipments OF Lima oil for March
averaged 4G.ll5 barrels day an In
crease over the average shown in Feb