The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1919-04-09
INTHEOIL FIELDS
Office: 624l w. II. PECK Residence 2id2
W. II. PECK
Residence 2id2

| FOR arriving a. valuations. and d."
plriiou aud d'prr,iu'lpu deduction.
IN connection Win oil ana TtS prop
"ftteA bremIuR these uhI'rF 10 I"
~ ia" Eroni"Ht importance. ih" hn
rrull ~ INTERNAL r"'Cnur instituted a
most careful inquiry Al fields IN
m. United states w"r" DHu. nwt"d
Records of production ~ thousands
Of properties we're. collie. i"d ana
tnhuini"d Th"H' we're ,nIrfuliy ,.I'.
sfi"d ana studied ny m" most COIN
p"t"ut aud 80 p"rI'nr'd men boz lh"
country and the average future pro
iu,tou curves and tables uf W,ut
u"n data wor" produced u- q result
~ this study
The manual which rouuTf ~
about so page. and ~ plates .a nov
being il#rlbu'"d among inEpHS"ts ~
the oil uud Rng industry IN 'umpil
ing the manual the puNulrv WIS 81
NIdrd into seven hlHirlD'r each ~
Nhi,h ,nH handled ny q -uprrNlsur
and H",,raI r'VtVtni~ Thee" w"r"
III"
Appalachian rr,d a. q ui,hard
son ~ "a" Hurrd States uElrn'
survey uVlat"d h' Hruum Brown.
T.. o. rI'un Roswell II johnson and
oihrrs
Iiy, Indiana nnd urnoa firlda
Iho- T. savage. up"rytaur assisted
hN ! j.. IUru"li T.. O u"un"lIN and
others
Md Continent ricId ~ Lewis
super, iur twus'rd uy n ~ Go0d
rI.h. calvin y Moore jnm"s n
Ilnuoo v T. Wfa'her ana other,
Sorh"ru Louisiana ricli \ lNi
"on Dixon
,;uif Coast T'irm T. DeG"lvrr ~
pcryIRur. Assisi"d hv Abu"r 4 DI,uu.
VI ". MaliiHou ana others
The Rocky Mountain District
CassIu- \ rraher supervisor. ias,arrl
hy Arthur Eaton, e. " D"m.Du,k
ana others
California car ~ Icn' supper
visor assisted hy y Il Nhlf" g. I.
Nolan Robert T. moran ana others.
The foreign countries iu' '.udtnr
MrNco were covered by V a. car
fins
The natural gas lndurrv Uns
banded hy r. W shaw OF IA" United
States geological survey as-iHted hN
< s Nvrr. \ ! Dlrschrr W !
Judge " A Williams r y Greg
orN = II clark T. II Finch ana X.
u white.
The book consists ~ three parts
Part one deals directly with the
law and regulat lions These. ~ they
relate to tho oil ana gas industry are
explained and numerous Illustrations
and examples are given 10 bring out
their Application
Part two deals with the question
OF drprrcia tion and is the result of
lthe work OF committee OF which
W A williams of the fuel admins
trati0n was chairman. n'S'iEtcd hy
rhos COX, A W Ambrose " ~
Iiill ! = Smoota OF the bureau OF
mines and l.. -. Dunncliy ~ tho hu-
rcau OF internal revenue This chap
ter should assist IN" taxpayer In
siandardlZing his classification "
equipment II also offers augger
tions as 10 relative rates or icprrcia-
ton for different types Of physichl
property The rates are not 10 h"
applied indiHcriminatcly to specific
cases but are relative only and the
treasury department iS In no way
committed tO accept them in the rc.
turns
Part three consists or descriptions
and methdB OF estimating under
ground oil reserves. especially by
means Of production curves The
principal paper In this chapter is hy
+. - Lewis and &. ~ Heal OF the
United states bureau OF mlnes. whose
work along this same line is well
known to petroleum engineers
throughout the country A collcc-
ton OF curves and tables covering
many NJ the oil fields ana pools in
the United States accompanies tho
text In the case Of the individual
districts these curves and tables
were prepared under the superV Vlsion
Of the men In charge OF the districts
IN which the pools and fields are
situated
The curves and tables are intended
as suggestion for the guidance OF
tho taxpayer in the computation ut
his depletion allowance, which In
turn has a direct hcnring on the
amount of his tax They are not Ia
be applied indiScriminRtcly TO spc-
sitic properties, and the treasury dc
partmeut IN In no whN comm lttcd 20
accept ext imutcH based upon them.
Every claim for deduction on ac-
count Of depletion must he accom-
panied by IA detailed statement of
production, etc e-vponN,w which such
claim is hased
The curves and tables are based
upon careful systematic study uf
thousands OF production records. an
that could ho made available in the
limited time at the disposal OF the
bureau MANY rCtincments and
minor corrections are desirable but
must be DELAYED until more complete
records are In hand
The investigation resulting in the
preparation OF this manual was he
gun before the signing or the armi-
stiCe. and most OF the men who took
mart I'm IL wpTo ruIlcI from thair