The Birmingham age-herald., 1920-05-06
Daily Wall Street Gossip
BY HOLLAND.

New York, May 5.-Special.) )-There are two highly significant intimations con- tained in the letter of resignation which Dr. Van H. Manning. who has been for more than forty years director of the Bureau of Mines. sent to President Wilson, in which he rendered his resig- nation of the office he so long held. Dr. Mauning's service as director of the Bu- reuu of Mines has been of the highest importance, since much of it was con- temperaneous with and to some of 1t was due the development of American mines in the past thirty years.
 Recently Dr. Manning in an article which was published by one of the sci entific journals, clearly set forth the peril which the American oil industry faces He went so far as to confirm the prediction which has been made by some of the men of science that unless there be new oil resources discovered and exploited in the United States our sup ply of oil will have been exhausted With in twenty years Dr. Manning gives @ longer lease of life to the oil industry so far as production is concerned, than does Dr. E. G. X cheson, who from careful study of oil consumption and oil pro- duction predicts that our supply of oil will be exhausted within the next sixteen years, unless there De d NdSl lllNA Nth9C AA new production. pr. Manning also calls attention to the necessity of conserving our petroleum, hoping that both the government and the leaders in the oil industry will act in cooperation so that there may be very great conservation may at last be established.
 In his letter of resignation Dr. Manning states that he is to become the director Of research with the American Petroleum r,f eta of itself inSfi- fes the belief that science is to undertake a vastly expanded work of research. partly perhaps to point the way by which new oil fields may be discovered, but principally to carry on research work so far as to make it possible to secure larger by-produets from the refining Of petroleum The fact that the American Petroleum Institute has secured Dr. Man ming as director of it's research work is of itself sufficient proof of the pur- pose to carry science farther and farther along the lines which lead to the highest possible development of the refining products of petroleum.
 The Government Poor Paymaster
 Dr. Manning calls the attent.on Of the President to the fact that the salaries which are paid to the technical experts of the government are so woefully made quate that in all probability the govern ment will lose the services of these eN- perts, because industry is able to offer tempting salaries. Dr. Manning's own salary has been, comparatively speaking, trivial m view of the important servie 7. which he has given to the government and to the people. In all probability he will receive a salary as director of the American Petroleum Institute which will adequately compensate him for the valu- able service he will give.
 The public has no knowledge of the extent to which industry has called technical experts from the government employ. If there ever was time when the government needs service of this kind it is the present, so also it will be in the future. The greater oil industries the Steel Corporation and many of our other manufacturing industries whte are now maintaining laboratories and re- search departments, some of them en- tailng great cost but all of them in tt cir achievements justfying such ex- penditure, are seeking in the technical schools and in the government depart