The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-01-07
.0IL AND Gls MEN
(Continued from mage sone,

= u .
ann gas. the yield from which has
Deem reduced or has ceased
Womb be Ruinous. 81
7.-No indication of the amount OIL
the tax that Will be advocated has
been given. As gas Is sold in the
field at as low as two cents uer thous-
and cubic feet. even what might bel
termed a small tax would be rtiinous
to hundreds Of gas producers. One
half cent per thousand cubic feet has
been advocated as the amount, OIL
such tax heretofore, which would bel
TWENTY-FIVE per cent of the selling
price. What industry could stand
being taxed on the same basis as
every other class of property and be-
ing required to bear an additional
special burden Of twenty-five per cent
|of the gross income.
f. S.-The oil producing business has
been passing through the most dis
tressful period OF its history. After
q price OF $3.50 per barrel, continuing
for over a year. which ENCOURAGED
producers to drill for small wellsa ifn-
prove the equipment and production
OF their properties, pay high prices.
for producing properties, on rapidly
declined to S1.00 per barrel, or forty
per cent leaving many In sad iinan-
cial plight. For long period there.
was no market and only limited stor-.
age facilities, compelling the curtail-.
ing OF production and injuring wells
and properties in many cases The
future Is Very uncertain and less
operating for oil Is going on in the
eastern fields than for many years.
No other industry has suffered so SCI
verely except the cotton industry,
and instead Of making cotton growers
the target for unfair and discrimi-
natory legislation, measures for their
relief are being considered. There Is
no statesmanship in the proposition
to add burdens to the oil business. II
ever any line OF business needed en-
|couragement, the oil and gas industry
needs 1t at this time, and the only aen-
Encouragement those engaged therein.
ask from the people Of the state Is
that they be accorded simple justice.
9.-The extent to which the develo
opment for oil and gas has been cars
riedf on,.n this state has been induc-
ed by reasonably fair laws. Discrim-
inatory laws will retard, further de-
|velopmeht. CAPITAL is timid. Unfair
laws will lessen the demand for ter
ritory and result in the. surrendering
OF thousands Of acres held under
lease, depriying the land owners OF
rental. Such laws will depreciate
the value OF producing properties and
narrow the market for their sale.
When there is shrinkage In the
value Of one great class OF property,
other classes suffer from a reduced
demand andsa corresponding shrink
age In value; since large part Of
the money made In one line Of indus
try finds It's, way to investment in.
other lines. AS depreciation Of value
lin oil and gas properties due to re-
istriction Of market for their arising
through discriminatory laws, would.
also reduce their assessed value for
the purposes of taxation, It would.
be possible for the loss Of taxation
income IRON this source to equal or
exceed the amount yielded by pro-
duction tar.
Refutes One Statement.
10.-The advocates Of the PROPOSE
ton misrepresentingly say that al
most all Of such a tax would be paid
by a certain combination Of corpora
lions. This is untrue, as this com
sbination owns, o. comparatively small.
proportion Of the producing property
and .deyotes itself mostly to the mar
:keting end. The greater part Of the
burden would fall ON thousands OF In
dependent producers and royalty own