A P P E N D I X

« NUMBER 57

TABLES OF YEARLY AVERAGE PRICES OF CRUDE AND REFINED

[All quotations up to 1899 are from the Oil City Derrick; all quotations for 1900-1903 are from the New York Commercial.]

TABLE OF YEARLY AVERAGE PRICE OF CRUDE

In the following table is presented the highest and lowest price of oil, the months in which these quotations occurred, and the general average for each year. The "average" as estimated is usually the mean price between the highest and lowest quotation of a given time. It is sufficiently accurate for general purposes of comparison. It would be an almost impossible task to determine a "true average" from the reports of the daily sales that are now on record. Previous to 1875 the quotations are given for points along Oil Creek, and they hardly represent what the producer actually realised for oil at the wells. From 1875 onward the trading in oil was placed on a more satisfactory basis by the general adoption of pipe-line certificates, and the exchange quotations show very closely the value of the oil at the wells. When the certificate was finally purchased by the refiner, it was subject to a uniform charge for pipage of the oil from the wells to the nearest shipping point.

YEAR	Highest Month	Price	Lowest Month	Price	Average
1859	Sept.	$20.00	Dec.	$20.00	$20.00
1860	Jan.	20.00	Dec.	2.00	9.60
1861	Jan.	1.75	Dec.	.10	.52
1862	Dec.	2.50	Jan.	.10	1.05
1863	Dec.	4.00	Jan.	2.00	3.15
1864	July	14.00	Feb.	3.75	8.15
1865	Jan.	10.00	Aug.	4.00	6.59
1866	Jan.	5.50	Dec.	1.35	3.75
1867	Oct.	4.00	June	1.50	2.40
1868	July	5.75	Jan.	1.70	3.62`-1/2`
1869	Jan.	7.00	Dec.	4.25	5.60
1870	Jan.	4.90	Aug.	2.75	3.90
1871	June	5.25	Jan.	3.25	4.40
1872	Oct.	4.55	Dec.	2.67`-1/2`	3.75
1873	Jan.	2.75	Nov.	.82`-1/2`	1.80
1874	Feb.	2.25	Nov.	.62`-1/2`	1.15
1875	Feb.	1.82`-1/2`	Jan.	.75	1.24`-3/4`
1876	Dec.	4.23`-3/4`	Jan.	1.47`-1/2`	2.57`-5/8`
1877	Jan.	3.69`-3/8`	June	1.53`-3/4`	2.39`-3/8`
1878	Feb.	1.87`-1/2`	Sept.	.78`-3/4`	1.17`-1/8`
1879	Dec.	1.28`-3/4`	June	.63`-1/8`	.85`-5/8`
1880	June	1.24`-3/4`	April	.71`-1/4`	.94`-1/8`
1881	Sept.	1.01`-1/4`	July	.72`-1/2`	.85`-1/4`
1882	Nov.	1.37	July	.49`-1/4`	.78`-1/2`
1883	June	1.24`-3/4`	Jan.	.83`-1/4`	1.05`-7/8`
1884	Jan.	1.15`-5/8`	June	.51`-1/4`	.83`-5/8`
1885	Oct.	1.12`-5/8`	Jan.	.68	.88`-3/8`
1886	Jan.	.92`-1/4`	Aug.	.59`-3/4`	.71`-3/8`
1887	Dec.	.90	July	.54	.66`-5/8`
1888	Mar.	1.00	June	.71`-3/8`	.87
1889	Nov.	1.12`-1/2`	April	.79`-1/2`	.94`-1/8`
1890	Jan.	1.07`-5/8`	Dec.	.60`-3/4`	.86`-5/8`
1891	Feb.	.81`-3/8`	Aug.	.50	.66`-7/8`
1892	Jan.	.64`-1/8`	Oct.	.50	.55`-1/2`
1893	Dec.	.80	Jan.	.52`-7/8`	.64
1894	Dec.	.95`-3/4`	Jan.	.78`-1/2`	.83`-3/4`
1895	April	2.60	Jan.	.95`-1/4`	1.35`-1/4`
1896	Jan.	1.50	Dec.	.90	1.19
1897	Mar.	.96	Oct.	.65	.78`-3/8`
1898	Dec.	1.19	Jan.	.65	.91`-1/8`
1899	Dec.	1.66	Feb.	1.13	1.29`-3/8`
1900	Mar.	1.68	Nov.	1.07	1.35`-1/4`
1901	Nov.	1.30	June	1.05	1.21`-1/8`
1902	Dec.	1.44`-1/2`	Mar.	1.15	1.23
1903	Dec.	1.88	Mar.	1.50	1.58`-3/4`

TABLE OF YEARLY AND MONTHLY AVERAGE PRICE OF REFINED

In the following table is given the average monthly and yearly prices of refined oil per gallon, in barrels, in New York, from January, 1863, to December, 1903. During the years when a tax was levied on this article of domestic production the quotations do not include the tax:

	1863	1864	1865	1866	1867	1868	1869	1870	1871	1872
Jan	.40	.46`-5/8`	.70	.57`-7/8`	.31	.24`-3/4`	.34`-1/8`	.31`-3/8`	.24`-5/8`	.22`-5/8`
Feb	.38`-1/4`	.47`-1/8`	.67`-1/4`	.48`-5/8`	.28`-1/4`	.25	.36`-3/8`	.29`-7/8`	.25`-1/8`	.21`-3/4`
March	.34`-3/4`	.49`-1/8`	.58`-3/4`	.41`-7/8`	.27`-1/2`	.25`-3/4`	.32`-1/8`	.27	.24`-1/8`	.22`-5/8`
April	.33`-1/4`	.54`-1/8`	.52`-7/8`	.40`-1/8`	.27	.26`-1/4`	.32`-1/4`	.26`-1/2`	.23`-1/4`	.21`-3/4`
May	.39`-1/2`	.59`-1/2`	.51`-1/8`	.43	.26`-3/4`	.29`-5/8`	.31`-1/2`	.27`-1/2`	.24`-5/8`	.23`-3/8`
June	.44`-1/2`	.72	.51`-1/2`	.41`-7/8`	.24`-3/4`	.31`-3/8`	.31	.27	.25`-3/4`	.23
July	.49	.86`-1/8`	.52`-1/8`	.39`-1/2`	.30`-7/8`	.34`-1/4`	.32`-1/4`	.26	.25`-3/4`	.22`-3/8`
Aug	.53`-1/2`	.84`-7/8`	.52	.44`-3/8`	.29`-1/4`	.33	.32`-1/2`	.25	.24`-3/8`	.22`-3/8`
Sept	.58	.75	.58`-1/4`	.44`-5/8`	.31`-3/4`	.31	.32`-1/4`	.26`-1/8`	.24`-1/8`	.24`-1/8`
Oct	.52`-1/2`	.63`-3/4`	.61`-3/4`	.40`-5/8`	.34`-1/2`	.30	.32`-7/8`	.24`-5/8`	.23`-3/4`	.26
Nov	.41`-1/2`	.70	.62`-5/8`	.35`-3/4`	.27`-1/2`	.30`-7/8`	.34	.23	.22`-3/8`	.27
Dec	.46`-1/2`	.72`-3/4`	.65`-1/4`	.31`-1/4`	.24`-3/4`	.32`-1/4`	.31`-1/8`	.23	.23	.26
Yearly average	.44`-3/4`	.64`-3/4`	.58`-3/4`	.42`-1/2`	.28`-3/8`	.29`-1/8`	.32`-3/4`	.26`-3/8`	.24`-1/4`	.23`-5/8`

	1873	1874	1875	1876	1877	1878	1879	1880	1881	1882
Jan	.22`-1/8`	.13`-1/2`	.12`-3/8`	.14`-1/8`	.24	.12`-1/8`	9	7`-7/8`	9`-1/4`	7
Feb	.19`-5/8`	.15	.14	.14`-1/4`	.18`-5/8`	.12`-1/4`	9`-3/8`	7`-7/8`	9`-1/4`	7`-3/8`
March	.19	.14`-7/8`	.15	.14`-1/2`	.16	.11`-5/8`	9`-1/4`	7`-3/4`	8`-1/2`	7`-3/8`
April	.20	.15`-5/8`	.13`-7/8`	.14	.15`-3/4`	.11`-3/8`	9`-1/8`	7`-5/8`	7`-3/4`	7`-3/8`
May	.19`-3/4`	.13`-7/8`	.12`-3/4`	.14`-1/8`	.14`-1/2`	.11`-1/4`	8`-1/2`	7`-5/8`	8	7`-1/2`
June	.19	.12`-7/8`	.12`-5/8`	.14`-3/4`	.13`-3/4`	.11`-1/4`	7`-1/2`	9`-5/8`	8`-1/8`	7`-1/2`
July	.18`-1/8`	.12`-1/8`	.11`-1/2`	.16`-7/8`	.13`-3/8`	.10`-3/4`	6`-3/4`	9`-7/8`	7`-7/8`	6`-3/4`
Aug	.16`-1/2`	.11`-3/4`	.11`-1/4`	.19`-7/8`	.13`-5/8`	.10`-7/8`	6`-5/8`	9	7`-3/4`	6`-7/8`
Sept	.16`-1/2`	.12`-1/8`	.12`-3/4`	.26	.14`-1/2`	.10`-1/4`	6`-7/8`	10`-5/8`	8	7`-1/2`
Oct	.16`-1/4`	.11`-7/8`	.14`-1/8`	.26	.14`-5/8`	9`-5/8`	7`-1/2`	12	7`-3/4`	8
Nov	.14`-1/8`	.10`-3/4`	.13	.26`-1/4`	.13`-1/4`	9`-1/8`	8	10`-1/2`	7`-1/2`	8`-1/4`
Dec	.13`-1/2`	.11`-1/4`	.12`-3/4`	.29`-3/8`	.13`-1/8`	8`-5/8`	8`-5/8`	9`-1/2`	7`-1/8`	7`-5/8`
Yearly average	.18`-1/4`	.13	.13	.19`-1/8`	.15`-3/4`	.10`-3/4`	8`-1/8`	9`-1/8`	8	7`-3/8`

	1883	1884	1885	1886	1887	1888	1889	1890	1891	1892
Jan	7`-3/4`	9`-3/8`	7`-3/4`	7`-3/4`	6`-3/4`	7`-3/4`	7	7`-1/2`	7.42	6.45
Feb	7`-7/8`	9`-1/8`	7`-3/4`	7`-5/8`	6`-5/8`	7`-3/4`	7`-1/8`	7`-1/2`	7.48	6.42
March	8	8`-1/2`	8	7`-3/8`	6`-5/8`	7`-3/4`	7	7`-1/4`	7.31	6.32
April	8`-1/4`	8`-5/8`	7`-7/8`	7`-3/8`	6`-5/8`	7`-3/8`	6`-7/8`	7`-1/8`	7.18	6.10
May	7`-7/8`	8`-1/2`	7`-3/4`	7`-1/4`	6`-3/4`	7`-1/2`	6`-7/8`	7`-1/4`	7.20	6.06
June	8	8`-1/8`	8	7`-1/8`	6`-5/8`	7`-1/8`	6`-7/8`	7`-1/8`	7.13	6.00
July	7`-5/8`	7`-7/8`	8`-1/4`	7	6`-1/2`	7`-1/4`	7`-1/4`	7`-1/8`	7.02	6.00
Aug	7`-7/8`	8	8`-3/8`	6`-3/4`	6`-1/2`	7`-5/8`	7`-1/4`	7`-1/4`	6.70	6.08
Sept	8`-1/8`	7`-7/8`	8`-3/8`	6`-5/8`	6`-3/4`	7`-3/4`	7`-1/8`	7`-3/8`	6.42	6.10
Oct	8`-3/8`	7`-7/8`	8`-1/2`	6`-3/4`	6`-3/4`	7`-5/8`	7`-1/8`	7`-1/2`	6.45	6.03
Nov	8`-3/4`	7`-7/8`	8`-1/2`	6`-7/8`	7	7`-1/4`	7`-1/2`	7`-1/2`	6.40	5.80
Dec	9`-1/8`	7`-3/4`	8	6`-7/8`	7`-1/4`	7`-1/4`	7`-1/2`	7`-1/4`	6.44	5.45
Yearly average	8`-1/8`	8`-1/4`	8`-1/8`	7`-1/8`	6`-3/4`	7`-1/2`	7`-1/8`	7`-3/8`	6.93	6.07

	1893	1894	1895	1896	1897	1898	1899	1900	1901	1902	1903
Jan	5.33	5.15	5.87	7.85	6.13	5.40	7.43	9.90	7.58	7.20	8.27
Feb	5.30	5.15	6.00	7.35	6.26	5.48	7.40	9.90	7.81	7.20	8.20
March	5.34	5.15	6.75	7.40	6.36	5.82	7.33	9.90	8.00	7.20	8.21
April	5.52	5.15	9.12	7.00	6.13	5.67	7.05	9.51	7.68	7.30	8.35
May	5.20	5.15	8.20	6.75	6.23	6.00	7.01	8.98	7.04	7.40	8.47
June	5.21	5.15	7.83	6.85	6.14	6.16	7.20	7.88	6.90	7.40	8.55
July	5.15	5.15	7.65	6.55	5.87	6.27	7.61	7.90	7.15	7.40	8.55
Aug	5.18	5.15	7.10	6.65	5.75	6.44	7.82	8.05	7.50	7.21	8.55
Sept	5.15	5.15	7.10	6.85	5.74	6.60	8.63	7.98	7.50	7.20	8.55
Oct	5.15	5.15	7.10	6.90	5.55	7.21	9.00	7.48	7.65	7.26	9.01
Nov	5.15	5.15	7.88	7.15	5.40	7.35	9-40	7.33	7.65	7.71	9.36
Dec	5.15	5.61	7.77	6.35	5.40	7.40	9.85	7.28	7.43	8.12	9.45
Yearly average	5.24	5.19	7.36	6.98	5.91	6.32	7.98	8.50	7.49	7.38	8.62

NOTE.— In the above tables the quotations down to 1890, inclusive, are noted in cents and fractional parts of a cent; from 1891 to 1903 the prices are given in cents and decimal parts of a cent, i.e., 7.42 signifies seven and forty-two hundredths cents, and 9-3/8 means nine and three eighths cents per gallon. The above are New York quotations in barrels; bulk oil is generally 2.50c. below these prices. Philadelphia and Baltimore quotations are five points below New York; for instance, if New York price was 5.75c., the Philadelphia and Baltimore price would be 5.70c.

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