Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1916-12-16

national importance simply gives
capital on opportunity an excuse, %
hedge. This always has been true.
The assassination of Lincoln. ana tho
subsequent slump In all stocks IN rilll
remembered by many llNing todas'
and then the failure of the jay bank
In 17T4 on account II financing north
err railways, BE- frcsher In the public
minds. The assassination OF Gar
field affected the stock markets. the
heavy speculative loans In the last
Cleveland administration, ana the
great railway strike of 1888 both
caused stocks 10 drop 10 q minimum,
and when the Maine was blown ~ IN
laNana harhur there was a near panic
in wall street. and when war finally
was declared stable stocks fell five
hundred 10 one thousand points tn"
closing ~ all national banks m 1909
caused another big slump ~ all Woo KS,
and when th, present Europoan wat
broke out i' actually closed the Board
~ Trade iu every 'ity IN the United
States.
Hut IN every instance, after the FIRST
bubhlc Of unsettled mind, rchnhilithto
itself and conditions became adjusted,
stocks d,d not only go pack 10 nor-
NAL lut Invariably showed decided In
cioIso and renewed strength.
oil stocks, sine" the German pro-
posal. have shown - slirht STUMP
Sinclair. Cosd"n and oklahoma ana
Producing are Off fcw points. ana
Prairie oil \ Gag Is OF lortN points
Cordit uns do not Justify This
The slump Is purely psychological q
natural sequence to the advent oi
world news that affect International
conditions.
Tho price Of oil is fixed ~ We
naturally presume. hy supply and
demard The German proposal IN no
way effected ,hc production of oil;
neither did II i'm any manner, dif''t
the law Of supply ana dmetnd, ana
consequently could IN no way hilc''
the price: but IL did AFFECT stocks. Tor
the same reasons that stocks were
affected IN times set forth above.
Like a money panic, there is Just 1H
much oil now az there was before the
German note. .nd no more. stocks
are iust ~ good now as hcior" IN"
Bethman- -iloliweg speech in she r"ich-
stag. There is no more production
no,v than before. IN fact there is less
production. The Germans In c"ptur-
ing the Rumanian army ic1 cock sure
Of taling over the Bu,hlrost Cil ticlds
In this, they were mistaken. Lake tho
Royalty Of Moscow dostrOyct the CITY
~ Napoleon entered il, the Rumaniau
destroyed the .rud oil ana uynamited
the oil wells as the Germans entered
the field. The bucharest oil fields are
In rufus and rofor" production there
can be placed back To normal II Will
require work the same as opening an
entirely new field
There is no prospect In tho world al
the present time that bids tair u
bring in new pool Of I'll that can
possibly affect the supply suiiicicntlN
To- affect the price. Therefore, " sin
clair. Cosdcn. oklahoma md FRO
ducers and Prairie were good stock
two weeks ago. they are at least
twenty per cent better today with tn
price ~ oklahoma crude being ad-
yarced from 90 cents q barrel 10 sl.lU
In that time. and with prospects "i
smother, and siill another 10 cont in
crease, which ultimately will bring tho
price Of crude up 20 $50 on Sl.t3
where It rightly belongs. hnd win
each additional Increase In priccN the
stocks are certain 10 get better. re-
gdrd'ess of what the outcome OF th'
German peace proposal may be.
: Usually II requires two or three
weeks cCr the stock market 10 re-
cover from excitement, and certainly
there is no cause for alarm.
In fact. there does not appear on
tho surface any investment of any ma
ture that offers the flattering pros
poets If oi. stocks AZ their present
price quotations.