Sistersville oil review. [volume] (Sistersville, W. Va.) 1896-1901, 1898-09-21
mo Time Like the Present.,

in particular should bear in mind
In the past it has too often hap
pened that when things have begun
to come little their way they have
allowed their interest to lag in the
very work which has forced the
better conditions. 1t is a note
worthy fact that in the matter Of
the financial defense and promotion
of their interests they have done
the most when they could least af'
ford it. In the case of the produc-
ers they never furnished the sinews
for such defense more notably than
when the monopoly had forced the
price of their product down to a
point where it represented conhs.
cation. Finding that by pushing
them too hard in this way the re-
suit was the opposite of that in
tended : that it was putting a
premium on work in self defense
among the producers, which, if
kept up halt as we'll in better times
as in those Of extreme adversely,
would make them masters OF the
situation-the monopoly let up, on
the wholesale effort to drive the
producers into bankruptcy. It
changed its tactics and advanced
prices just enough to cause many
of them to feel that the field and
market conditions had changed
sufficiently in their favor to make
further aggressive effort on their
part unnecessary. Over and over
again many of the oil men have
made this mistake.
By keeping prices little above
the point where they would pro-
coed; as a matter of necessity, to do.
the work necessary to lift them,
the monopoly has kept too many
producers hopefully watching the
field reports and pipe line figures,
and when the hopeful oil men have
grown doubtful enough, from
time to time, to quit feeding on this
hope and to take special cogniz-
ance of the fact that "the Lord
helps those who help themselves"
they have been lulled back into the
old hopeful delusion by little booms
in the markedly the impression
that field conditions have forced the
monopoly to pay better prices and
rendered increased independent
competition for that purpose TN
necessary. After they have been
buoyed up for a time by this de,
fusion and have increased: produc-
ton in the manner desired they
have got it in the neck" as before.
In brief, they have been both too
easily fooled and too easily satisfied.
Of course this has not been true
of all of them. Had it been so there
would be no competition at all to-
day. But it has been true OF too
many of them, and it is even so to.
day. Much may be heard now OF
decreasing, stocks, of the absence
of new fields and of other condi-
lions of hopeful outlook for the
producer. Prospective deluges OF
Russian petroleum, present and
prospective competition for the oil
fields Of Java. Sumatra, Canada and
South America, not to speak OF
Alaskan oil,lakes and competition
with other oils-these of kin
dred stock topics Of a bear
ish nature are not now
exploited in the Standard papers
and the largest wells no longer
come first in the field reports of the
latter. Will the oil men fail now to
remember that this is no new thing?
Instead of indulging in the old de
fusion that oil, more particularly
Pennsylvania oil, is becoming SO
much scarcer that producers can
soon command their own price for
it, whether there is any competition
or not, will they, have the good
sense so to enlarge the work of
their present independent organiza-
tons as to be able not only to
maintain, but.to increase the pres
ent prices? What better time than
the present for extension of the in
dependent lines, including that OF
the Producers & Refners line to
the southwest fields? What better
time than the present to expand the
marketing facilities OF the Pure Oil
company by additional placing Of
its stock? In short, what better
time than now so to enlarge the
agencies of independent competi-
ton that the increase in production
a !