Mr. Lee makes a statement regarding the difficulty of his pipe-line, the United States Pipe Line, in crossing railroads and securing right of way to the seaboard, and makes a general statement implying that we have instituted and carried out great obstruction to their progress. I want to make general denial of this statement. We have not at any time had any different relations with reference to any obstruction or effort at obstruction of their line than would attach to any competitor in a line of business engaging against another. With reference to the special features referred to by Mr. Lee, and which he attempts, by implication at any rate, to connect us with, in the crossing of the Delaware and Lackawanna Railroad in New Jersey, I want to say that the contention in that respect was entirely at the hands of the railroad, and not at our hands in any possible respect. They went there surreptitiously and endeavoured to force their way, on a Sunday, over a line where they had no right, either by private purchase or by public franchise. Having accomplished the crossing of the road in that surreptitious way, they stationed there an armed force to prevent the railroad company from asserting its rights and taking out their lines, and kept that force there for a long period. The railroad went about it in a peaceful way, in the courts, and the final result is that the decision is against the line, after the case has been carried up finally to the supreme court of the state, and they must, of course, remove their line. But any statement on Mr. Lee’s part, or any other witness, that we had anything to do with that matter, or with reference to any of the difficulties interposed in their progress to the seaboard, is absolutely false.
By Mr. Phillips.
Q. Did your company own in fee simple the tract of ground, and was a roadway reserved by the landholder? Was that purchased by them?
A. It was not my case, and I am not conversant with the details regarding it. The fact that, after having been fought in the newspapers and in the courts for a term of years, seeking the sympathy of the judges as well as the public, the supreme court of the state has ruled against them, is the best evidence, I think, that the right was against them. I want to say with reference to our pipe lines, that we never endeavoured to cross any man’s right of way without first seeing him about it.
Q. Still, did they not go through the railroad on their own ground, and was not this the final decision, that they had not the right to lay a pipe line where a man had reserved a right of way under the ground?
A. It was not only decided that they had no right there, but they were ordered to remove.
NUMBER 57 (See page [2194])
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 3.62½ 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. 2.67½ 3.75 1873 Jan. 2.75 Nov. .82½ 1.80 1874 Feb. 2.25 Nov. .62½ 1.15 1875 Feb. 1.82½ Jan. .75 1.24¾ 1876 Dec. 4.23¾ Jan. 1.47½ 2.57⅝ 1877 Jan. 3.69⅜ June 1.53¾ 2.39⅜ 1878 Feb. 1.87½ Sept. .78¾ 1.17⅛ 1879 Dec. 1.28¾ June .63⅛ .85⅝ 1880 June 1.24¾ April .71¼ .94⅛ 1881 Sept. 1.01¼ July .72½ .85¾ 1882 Nov. 1.37 July 0.49¼ 0.78½ 1883 June 1.24¾ Jan. .83¼ 1.05⅞ 1884 Jan. 1.15⅝ June .51¼ .83⅝ 1885 Oct. 1.12⅝ Jan. .68 .88⅜ 1886 Jan. .92¼ Aug. .59¾ .71⅜ 1887 Dec. .90 July .54 .66⅝ 1888 Mar. 1.00 June .71⅜ .87 1889 Nov. 1.12½ April .79½ .94⅛ 1890 Jan. 1.07⅝ Dec. .60¾ .86⅝ 1891 Feb. .81⅜ Aug. .50 .66⅞ 1892 Jan. .64⅛ Oct. .50 .55½ 1893 Dec. .80 Jan. .52⅞ .64 1894 Dec. .95¾ Jan. .78½ .83¾ 1895 April 2.60 Jan. .95¼ 1.35¼ 1896 Jan. 1.50 Dec. .90 1.19 1897 Mar. .96 Oct. .65 .78⅜ 1898 Dec. 1.19 Jan. .65 .91⅛ 1899 Dec. 1.66 Feb. 1.13 1.29⅜ 1900 Mar. 1.68 Nov. 1.07 1.35¼ 1901 Nov. 1.30 June 1.05 1.21½ 1902 Dec. 1.44½ Mar. 1.15 1.23 1903 Dec. 1.88 Mar. 1.50 1.58¾
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 .46⅝ .70 .57⅞ .31 .24¾ .34⅛ .31⅜ .24⅝ .22⅝ Feb. .38¼ .47⅛ .67¼ .48⅝ .28¼ .25 .36⅜ .29⅞ .25⅛ .21¾ March .34¾ .49⅛ .58¾ .41⅞ .27½ .25¾ .32⅛ .27 .24⅛ .22⅝ April .33¼ .54⅛ .52⅞ .40⅛ .27 .26¼ .32¼ .26½ .23¼ .21¾ May .39½ .59½ .51⅛ .43 .26¾ .29⅝ .31½ .27½ .24⅝ .23⅜ June .44½ .72 .51½ .41⅞ .24¾ .31⅜ .31 .27 .25¾ .23 July .49 .86⅛ .52⅛ .39½ .30⅞ .34¼ .32¼ .26 .25¾ .22⅜ Aug. .53½ .84⅞ .52 .44⅜ .29¼ .33 .32½ .25 .24⅜ .22⅜ Sept. .58 .75 .58¼ .44⅝ .31¾ .31 .32¼ .26⅛ .24⅛ .24⅛ Oct. .52½ .63¾ .61¾ .40⅝ .34½ .30 .32⅞ .24⅝ .23¾ .26 Nov. .41½ .70 .62⅝ .35¾ .27½ .30⅞ .34 .23 .22⅜ .27 Dec. .46½ .72¾ .65¼ .31¼ .24¾ .32¼ .31⅛ .23 .23 .26 Yearly average .44¾ .64¾ .58¾ .42½ .28⅜ .29⅛ .32¾ .26⅜ .24¼ .23⅝ 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 Jan. .22⅛ .13½ .12⅜ .14⅛ .24 .12⅛ 9 7⅞ 9¼ 7 Feb. .19⅝ .15 .14 .14¼ .18⅝ 12¼ 9⅜ 7⅞ 9¼ 7⅜ March .19 .14⅞ .15 .14½ .16 .11⅝ 9¼ 7¾ 8½ 7⅜ April .20 .15⅝ .13⅞ .14 .15¾ .11⅜ 9⅛ 7⅝ 7¾ 7⅜ May .19¾ .13⅞ .12¾ .14⅞ .14½ .11¼ 8½ 7⅝ 8 7½ June .19 .12⅞ .12⅝ .14¾ .13¾ .11¼ 7½ 9⅝ 8⅛ 7½ July .18⅛ .12⅛ .11½ .16⅞ .13⅜ .10¾ 6¾ 9⅞ 7⅞ 6¾ Aug. .16½ .11¾ .11¼ .19⅞ .13⅝ .10⅞ 6⅝ 9 7¾ 6⅞ Sept. .16½ .12⅛ .12¾ .26 .14½ .10¼ 6⅞ 10⅝ 8 7½ Oct. .16¼ .11⅞ .14⅛ .26 .14⅝ 9⅝ 7½ 12 7¾ 8 Nov. .14⅛ .10¾ .13 .26¼ .13¼ 9⅛ 8 10½ 7½ 8¼ Dec. .13½ .11¼ .12¾ .29⅜ .13⅛ 8⅝ 8⅝ 9½ 7⅛ 7⅝ Yearly average .18¼ .13 .13 .19⅛ .15¾ .10¾ 8⅛ 9⅛ 8 7⅜
| 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 | 3.62½ |
| 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. | 2.67½ | 3.75 |
| 1873 | Jan. | 2.75 | Nov. | .82½ | 1.80 |
| 1874 | Feb. | 2.25 | Nov. | .62½ | 1.15 |
| 1875 | Feb. | 1.82½ | Jan. | .75 | 1.24¾ |
| 1876 | Dec. | 4.23¾ | Jan. | 1.47½ | 2.57⅝ |
| 1877 | Jan. | 3.69⅜ | June | 1.53¾ | 2.39⅜ |
| 1878 | Feb. | 1.87½ | Sept. | .78¾ | 1.17⅛ |
| 1879 | Dec. | 1.28¾ | June | .63⅛ | .85⅝ |
| 1880 | June | 1.24¾ | April | .71¼ | .94⅛ |
| 1881 | Sept. | 1.01¼ | July | .72½ | .85¾ |
| 1882 | Nov. | 1.37 | July | 0.49¼ | 0.78½ |
| 1883 | June | 1.24¾ | Jan. | .83¼ | 1.05⅞ |
| 1884 | Jan. | 1.15⅝ | June | .51¼ | .83⅝ |
| 1885 | Oct. | 1.12⅝ | Jan. | .68 | .88⅜ |
| 1886 | Jan. | .92¼ | Aug. | .59¾ | .71⅜ |
| 1887 | Dec. | .90 | July | .54 | .66⅝ |
| 1888 | Mar. | 1.00 | June | .71⅜ | .87 |
| 1889 | Nov. | 1.12½ | April | .79½ | .94⅛ |
| 1890 | Jan. | 1.07⅝ | Dec. | .60¾ | .86⅝ |
| 1891 | Feb. | .81⅜ | Aug. | .50 | .66⅞ |
| 1892 | Jan. | .64⅛ | Oct. | .50 | .55½ |
| 1893 | Dec. | .80 | Jan. | .52⅞ | .64 |
| 1894 | Dec. | .95¾ | Jan. | .78½ | .83¾ |
| 1895 | April | 2.60 | Jan. | .95¼ | 1.35¼ |
| 1896 | Jan. | 1.50 | Dec. | .90 | 1.19 |
| 1897 | Mar. | .96 | Oct. | .65 | .78⅜ |
| 1898 | Dec. | 1.19 | Jan. | .65 | .91⅛ |
| 1899 | Dec. | 1.66 | Feb. | 1.13 | 1.29⅜ |
| 1900 | Mar. | 1.68 | Nov. | 1.07 | 1.35¼ |
| 1901 | Nov. | 1.30 | June | 1.05 | 1.21½ |
| 1902 | Dec. | 1.44½ | Mar. | 1.15 | 1.23 |
| 1903 | Dec. | 1.88 | Mar. | 1.50 | 1.58¾ |
| 1863 | 1864 | 1865 | 1866 | 1867 | 1868 | 1869 | 1870 | 1871 | 1872 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Jan. | .40 | .46⅝ | .70 | .57⅞ | .31 | .24¾ | .34⅛ | .31⅜ | .24⅝ | .22⅝ |
| Feb. | .38¼ | .47⅛ | .67¼ | .48⅝ | .28¼ | .25 | .36⅜ | .29⅞ | .25⅛ | .21¾ |
| March | .34¾ | .49⅛ | .58¾ | .41⅞ | .27½ | .25¾ | .32⅛ | .27 | .24⅛ | .22⅝ |
| April | .33¼ | .54⅛ | .52⅞ | .40⅛ | .27 | .26¼ | .32¼ | .26½ | .23¼ | .21¾ |
| May | .39½ | .59½ | .51⅛ | .43 | .26¾ | .29⅝ | .31½ | .27½ | .24⅝ | .23⅜ |
| June | .44½ | .72 | .51½ | .41⅞ | .24¾ | .31⅜ | .31 | .27 | .25¾ | .23 |
| July | .49 | .86⅛ | .52⅛ | .39½ | .30⅞ | .34¼ | .32¼ | .26 | .25¾ | .22⅜ |
| Aug. | .53½ | .84⅞ | .52 | .44⅜ | .29¼ | .33 | .32½ | .25 | .24⅜ | .22⅜ |
| Sept. | .58 | .75 | .58¼ | .44⅝ | .31¾ | .31 | .32¼ | .26⅛ | .24⅛ | .24⅛ |
| Oct. | .52½ | .63¾ | .61¾ | .40⅝ | .34½ | .30 | .32⅞ | .24⅝ | .23¾ | .26 |
| Nov. | .41½ | .70 | .62⅝ | .35¾ | .27½ | .30⅞ | .34 | .23 | .22⅜ | .27 |
| Dec. | .46½ | .72¾ | .65¼ | .31¼ | .24¾ | .32¼ | .31⅛ | .23 | .23 | .26 |
| Yearly average | .44¾ | .64¾ | .58¾ | .42½ | .28⅜ | .29⅛ | .32¾ | .26⅜ | .24¼ | .23⅝ |
| 1873 | 1874 | 1875 | 1876 | 1877 | 1878 | 1879 | 1880 | 1881 | 1882 | |
| Jan. | .22⅛ | .13½ | .12⅜ | .14⅛ | .24 | .12⅛ | 9 | 7⅞ | 9¼ | 7 |
| Feb. | .19⅝ | .15 | .14 | .14¼ | .18⅝ | 12¼ | 9⅜ | 7⅞ | 9¼ | 7⅜ |
| March | .19 | .14⅞ | .15 | .14½ | .16 | .11⅝ | 9¼ | 7¾ | 8½ | 7⅜ |
| April | .20 | .15⅝ | .13⅞ | .14 | .15¾ | .11⅜ | 9⅛ | 7⅝ | 7¾ | 7⅜ |
| May | .19¾ | .13⅞ | .12¾ | .14⅞ | .14½ | .11¼ | 8½ | 7⅝ | 8 | 7½ |
| June | .19 | .12⅞ | .12⅝ | .14¾ | .13¾ | .11¼ | 7½ | 9⅝ | 8⅛ | 7½ |
| July | .18⅛ | .12⅛ | .11½ | .16⅞ | .13⅜ | .10¾ | 6¾ | 9⅞ | 7⅞ | 6¾ |
| Aug. | .16½ | .11¾ | .11¼ | .19⅞ | .13⅝ | .10⅞ | 6⅝ | 9 | 7¾ | 6⅞ |
| Sept. | .16½ | .12⅛ | .12¾ | .26 | .14½ | .10¼ | 6⅞ | 10⅝ | 8 | 7½ |
| Oct. | .16¼ | .11⅞ | .14⅛ | .26 | .14⅝ | 9⅝ | 7½ | 12 | 7¾ | 8 |
| Nov. | .14⅛ | .10¾ | .13 | .26¼ | .13¼ | 9⅛ | 8 | 10½ | 7½ | 8¼ |
| Dec. | .13½ | .11¼ | .12¾ | .29⅜ | .13⅛ | 8⅝ | 8⅝ | 9½ | 7⅛ | 7⅝ |
| Yearly average | .18¼ | .13 | .13 | .19⅛ | .15¾ | .10¾ | 8⅛ | 9⅛ | 8 | 7⅜ |
APPENDIX, NUMBER LVII
| 1883 | 1884 | 1885 | 1886 | 1887 | 1888 | 1889 | 1890 | 1891 | 1892 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan. | 7¾ | 9⅜ | 7¾ | 7¾ | 6¾ | 7¾ | 7 | 7½ | 7.42 | 6.45 | |
| Feb. | 7⅞ | 9⅛ | 7¾ | 7⅝ | 6⅝ | 7¾ | 7⅛ | 7½ | 7.48 | 6.42 | |
| March | 8 | 8½ | 8 | 7⅜ | 6⅝ | 7¾ | 7 | 7¼ | 7.31 | 6.32 | |
| April | 8¼ | 8⅝ | 7⅞ | 7⅜ | 6⅝ | 7⅜ | 6⅞ | 7⅛ | 7.18 | 6.10 | |
| May | 7⅞ | 8½ | 7¾ | 7¼ | 6¾ | 7½ | 6⅞ | 7¼ | 7.20 | 6.06 | |
| June | 8 | 8⅛ | 8 | 7⅛ | 6⅝ | 7⅛ | 6⅞ | 7⅛ | 7.13 | 6.00 | |
| July | 7⅝ | 7⅞ | 8¼ | 7 | 6½ | 7¼ | 7¼ | 7⅛ | 7.02 | 6.00 | |
| Aug. | 7⅞ | 8 | 8⅜ | 6¾ | 6½ | 7⅝ | 7¼ | 7¼ | 6.70 | 6.08 | |
| Sept. | 8⅛ | 7⅞ | 8⅜ | 6⅝ | 6¾ | 7¾ | 7⅛ | 7⅜ | 6.42 | 6.10 | |
| Oct. | 8⅜ | 7⅞ | 8½ | 6¾ | 6¾ | 7⅝ | 7⅛ | 7½ | 6.45 | 6.03 | |
| Nov. | 8¾ | 7⅞ | 8½ | 6⅞ | 7 | 7¼ | 7½ | 7½ | 6.40 | 5.80 | |
| Dec. | 9⅛ | 7¾ | 8 | 6⅞ | 7¼ | 7¼ | 7½ | 7¼ | 6.44 | 5.45 | |
| Yearly average | 8⅛ | 8¼ | 8⅛ | 7⅛ | 6¾ | 7½ | 7⅛ | 7⅜ | 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 9⅜ 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.