San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-04-20
MOVEMENT Of
NEW NAVY GAS
ENCOURAGING
1t Presages Opening Of
Motoring Season in Mid
Continent Region.
REFlNERS ARE FIRM
Buyers Offering Orders Be-
low Market Are Meet
ing With no Success.
Tulsa, Okla, April 19.-Good move

luS WIN llO OuCCSSSs
Tulsa. Okla, April 19.-Good move
ment of New Navy gasoline was the
outstanding feature of the Mid-Conti
nent refined oil market the past week.
Ideal motoring weather contributed
to the first real indication of the
gasoline season in the middle western
states and jobbers are now concentrate
ing on their requirements for the cur
rent season. With exception Of the
tendency of fuel oil to ease off the
general strength of the market is fair
ly stationary though continuation of
the present gasoline movement is ex-
pected to stiffen prices within the next
few weeks. There is still some hand
to-mouth trading in evidence but the
beginning Of the 1924 gasoline season
is bringing bigger orders to northern
MidContinent refineries as jobbers
start stockin up for the motor trade.
Prices are yet unchanged but are I'M
usually firm and with excellent indi-
cations of early advances, according
to leading refiners.
Refincrs Arc Standing Pat.
An encouraging feature of the mar
ket has been the attitude of refiners
in maintaining firmness toward
prices which is sustained by the ap-
proach Of the consumptive period in
gasoline and the resulting tendency
to refuse to make concessions in
prices. Some buyers have been placing
orders at fractional quotations below
the current market but these have not
been filled. Where trading Mt con-
cessions has developed very rapidly
in some sections it is rather limited at
this time. Confessional prices have in
terfered to some extent with the mar
kct of the past few weeks and particu-
larly during the bad weather period
when prices were out rather freely but
recent opinion is that the market is
now established and will likely remain
so for several months.
Large stocks of all refined products
particularly gasoline and kerosene in
the Mid Continent, will probably de-
| lay higher prices for a few weeks but
not for long, according to those in a
| position to know.
More Gasoline Stocks.
Late summary of Western Petrol
| tuIu aSSOtlutlO SIOWpu
gasoline stocks at 160,G55,313 gallons
on March s and 177,760.S76 gallons
in storage April 9Th in the Mid-Con-
tinent field, gain of approximately
100000 gallons. However refiners
say that the good weather of the past
week has wiped out this loss and with
in short time will cut into the major
portion of storage gasoline. The situa-
ton in the Mid-Continent is 81 Nly
better than that in the middle !, lst
but the big motor fuel market through
out the middle western states is ex-
pected to absorb its present surplus
in few weeks time. The situation at
least is much better than at this pc
Rod last year when stocks were from
10 TO ID per cent higher.
New Navy gasoline appears to be
| Strengthening and is generally quoted
at from 10 3-4 to IL cents with the
higher figure predominating. Buyers
with orders for movement over the
month have made efforts to obtain
New Navy at 10 IL cents but with
out success. There is a general re-
luctance among refiners to yield even
small fractional quotations though
the higher GRANTEES of motor fuel have
been slightly shaded in a few in
stances. Domestic movement of 64-6G
gasoline has been noted at - "a to
IL cents while the G0-62 grade can be
bought for - to u IL cents. The
margin on all gasoline as a rule is now
very tight.
| Reaction Is Natural.
Natural gasoline follows New Navy
end will react strongly on the latter.
Manufacturers are sitting tight and
will not consider any concessions in
price. Big orders from Standard Oil
rcfincrics in the East and middle
West are believed to be materializinc
in the Mid-Continent and this feeling
is having n healthy influence on the
market. The margin is also tight OF
this product ranging from 1910 IA
cents for the Grade A 72-7S TO SIS IA
cents for the Grade c S0-SS with de
mand firm.
Kerosene has shown little change
and is rather plentiful ut prices rang
ing from 4 to IA cents for the Al
43 grade to IA to 4 IL cents fol
the 43-44 grade both Water white
These prices are generally being main
tanned and shows a tendency to weak
en- soon unless unexpected conditions
prevail. Shipments of kerosene from
Mid-Contincnt refineries for the fou
weeks period ending April 9th wer,
23.GO3,6Sg gallons as compared will
2J.GO3,219 gallons for period endini
March Sth. decrease of approx
mately 100000 gallons.
Fuel oil is probably making its las
stand as a market factor with littl
likelihood of "a coal strike affectin
, it during the summer months. TIL
, coal strike situation is largely loca
in sections of the Mid-Continent am
At appears that the shutting down O
, some mines will not influence fut
oil, especially in view Of the larg
stocks and rather plentiful suppl
, available.
In North Texas where the fuel o
, market has been tight and highe
! prices than elsewhere have been th
rule, the situation is now change
-. and prices have broken with a plent
: full supply. This was said to hay
been due to local conditions maxim
sales slow and causing the produt
I to be dumped on the markc. at 10
4 prices by smaller companies. Origina
~ the North Texas rcfiners had mol
storage. than in Oklahoma but poo
movement brought about the chanf
a in the fuel oil situation which is no
/ more general throughout this teri
d tory. Stocks have been rapidly d
A pleted in the last ten days but Il
s supply is still more than enough
z view of the end Of the season.