New-York tribune., 1920-08-22

ter of GOOD common sense for
pioneers in the industry to focus
their attention on the few staple
products for which there is a gen
eral use, a steady demand and a
good market price.
coil shales are found virtually ali
around the world" asserts the
writer. "The demand for oil is now
strong enough and the price of crude
oil high enough to warrant the COM
mercial production of oil from
shale. A number Of plants (Ameri-
cam are now nearing completion,
so there is a likelihood that the in
dustry will be on a commercial basis
in the summer of 1920 or soon
thereafter.
"The rapid increase in the de-
mand and use of petroleum to-
gether with the unsatisfactory pro-
duction has caused students of the
oil situation serious concern. War
conditions clouded The matter. 1t
was expected that with the close of
the war consumption would decrease,
but this has not been borne out by
resulting conditions Demand has
increased. Domestic production has
failed to keep pace. the result is
clear and certain. Industrial life,
absolutely dependent upon petroleum
for without it not a wheel could
! turn--cannot depend longer upon
the uncertain production Of we'll pc
troleum 1t must have a source Of
supply as certainly dependable az
water or coal, supply that can be-
counted upon year after year. elsa
industrial life will falter Such
source has been unexpectedly found
in the enormous, worldwide deposits
Cf il-producing shale."
individuals with Ponzi ten
dency to get rich quick will do we'll
to shun the stock salesman who
offers quick turnover shares in
newly organized shale plant In
this regard the author warns
No Poor Mans Game
1T should be borne in mind that
the oil shale industry is not a poor
mans game in the sense that
small amount of capital invested viii
quickly bring fabulous returns. On
the contrary, it is distinctly rich
mans game in the sense that a
large amount Of capital must be in
vested before there is any return
whatever. The smallest unit-and
! that only as a starter-should be of
100 tons daily capacity, to cost ap-
proximately 100000 This unit
should be added to till at least 500
tons day are reached, and 1000
would be much preferable.
Another phase that should be
emphasized is that the oil shale in
dustry is low grade industry, of
I large tonnage, of continuous opera
tlon, with automatic machinery, and
large output. Workmen need only
to be broad in the back The brains
must be supplied in the Office. The
greatest need of the industry at the
present moment is capital to open
the deposits, erect retorts, establish
refneries, organize distributing
agencies, and, in brief, to establish
the industry on a commercial scale
and paying basis.
The small investor should use the
utmost caution before investing in
the stock of newly organized oil
shale companies. The fundamental
facts about the industry are so
stupendous and are so officially put
forth that the dishonest promoter
can easily excite the cupidity of the
unthinking investor. The investor
should investigate carefully the
standing of the officials and fully
realize that he is engaging in a long
pull project and that no returns are
possible until the plant is completed
IN every respect and operating stead
ily"
The richest and most accessible oil
shale deposit in the world lies over
an area including northwestern
Colorado, northeastern Utah and
; southwestern Wyoming, says the
|. author. AS reserve for the use of
!, the navy, the United States govern
ment has withdrawn from this area
in Colorado 45,440 acres and in Utah
86.5S4 acres. In the Utah porto,
of the Unitah Basin alone there a,~,
available more than 10000 900 600
nf II ol l. -