The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-12-31
IN THE OIL FIELDS
off;cs, e241 w. II. PECK Residence 2442

busincrs has never At any time been
governed by the condition ~ business
hut has soon it's worst days when no
great rst period of Imitation that lhc
country has ever seen. was al luh
tidc.
II has pruspcrcd when every "th'r
huslncss was at u Htandstill. Just as
IL diI during the Roosevelt panic li'
1907. when men were walking IN I"
dcsp,ratc liuo that extended from
one manufacturing center 10 an
other. and all looking Tor something
to do.
But perhaps the main factor IN IN"
maintenance OF the price ot c'uue
OH which is indeed tho most h"tob'
s,ry ana important phas" ut th' Hl' .
nation, rs that the Independent i"ilh-
.rs are strong enough and nave
enough initiative to take care ui -
large share 81 the oil produced ana
this is especially true when the "hld
production belongs 10 the rem
lust as for instance, the hiE hu'piuH
owned by the Harnsdall oil company,
which ie going into stpt"S" ~ Tn
newly acquired refinery az iHFhcait'
as fast ~ tlnkugc can b" rrect"l'
The reason that the price or crud"
must lF maintained - bN'N hif' W.
once IL starts on the down grade
there viii be- no telling how low 10"
market would go. and In the mean
time there are numerous cone rms
with unlimited money, anNlnuSiS
waiting To take the independent pro-
duccr INTO camp. Tho pruilis men
do not go to make up the prosperity
of Tulsa, and 1t ~ therefore noccs'
snry that the Independent tttlhci' ~
ne desires to 30 Independent ana
Keen his production, must depend on
the independent r'fincr who mas q
market, or is at least willing to Blof'
| his oil
Tho Indiahomu Refining company
| has announced u new policy, "oHi'
thing similar To the Texas Company
! plans, namely. that II VIII bulio
! storngc AMI mako pipe line conncc
/ tions and Will take a large amount Z"
| OIL that the producer cannot run, ant
will may for same AZ the rate OF -
| per cent in cash. and 80 per cent u
! gO-dny drafts, which will be sent on
alonr with the cash payment over!
two weeks. It viii take this oil oi
these terms at the present marko
pricc. which relieves the producer a.
! any danger of n declining marko'
and II Is bound TO be popu
| lur move ON the part OF Mr.. Schock'
organization, the headquarters
which are at ST Louis. with "a rein
cry across the river In East 81 LOUIS
AMI another and larger one At ok
mulgce.
Tho lndiahoma Is running i,oo
barrels "a day and viii build pipe lih'
as fast rs they can be laid ana stoi
age as fast as 1t can be cgcctcd' ]
l ..sta l,.t. a
lot In the south end. and eventual
Mr.. Schock Will have the ncccssar
crude to carry out his contract
which are very large. Other com
,panics known as major companies
|but which have not large pipe In
connections, are figuring on some
lthing to relieve the situation, an
other announcements arc looked iol
SO far as tho drilling OF new well
lis concerned, there are only Two ~
cent Somplotions In this part
oklahoma that seem TO Indicate ne
pools of any magnitude, ana both III
so situated that " wells are htafte
now they can he easily counted ON
come In next spring. when there IN
large incrcnSc In the consumption {
lpil One Of these IN the Mtscpcr
steele we'll In section i1-ib-lo. ju
! south of the townsite of Slick. viii,
was drilled In because 1t was ne
Q cssary In order To hold tho lease, ~
= the other In we'll drilled In "A ne
= deep sand in the southeastern q,
lmuigec field, which is owned by II
Kusa Spcltcr company, ana ~ IN &c
,. ltion 5-ll-ta. where big showli
g has been found at "A depth OF ~
q feet. The well Is In wildcat terrific
. and the sand IL believed To he u
J. lWilcox, which has not app"ar'
within many miles of the location
1.-THE new well heretofore,
o In the meantime everyone Is sho
Il ting their wells In on top OF I
j. sanl. aud statistics which are bel
n gathered and viii hc up TO the mi
Y ute, will soon demonstrate that 'N
y, more than 80 per cent OF the oil
ia not being brought To the surface, u
e, moro than that II has developed u
o many well that Is dry rs II cover
', bridge, Is being reported as ~
down on top OF the sand, when
always the way when drilling IL
10 strictod,
l. In the Usage, whcro statistics ht
Il. been gathered there is only total
81 complotions with a total init
production OF 5,0pi barrels from
oil wells, with nine dry holes n
ID four gnssors. the hitter having 10