The Birmingham age-herald., 1921-06-12
By HOLLAND

| Walter Clark Teagle, president of the Standard oil company of New Jer- sey, and James A. Farrell, president of the United States Steel corpora tion, lave declined each in turn Pres ident Harding's somewhat urgent ap- peal that the chairmanship of the shipping board be accepted A little over year ago one of the great minds of the financial district, man of many years experience and of rep utation upon which there is no shadow of reproach, said, Now that the period of readjustment has come, this govtrnment needs it's ahlAst men in various fields, but l am afraid we cannot get them, because they are needed in our industries, finance and conmef ce."
 This remark applies with singular aptness to MT. Teagle and to MT. Far rell Each of these men, who are now doiDG great things in the line of constructive work, is more greatly needed ny the industries with which he is associated than by yhe govern ment. For those things which they are now striving to accomplish are to be of advantage to the public, and are to aid in bringing about the prosperity of which so many are now hopeful.
 After Mir Teagle had spent an hour or two with President Harding and had given to him the reasons why he deemed it impracticable to accept appointment as chairman of the ship ping board, he discovered at once that the President was in full agreement with him. Mir. Teagle was reported n have cqid after hig meeting with the President was over that the questions of future petroleum sup plies and the efforts of foreigners to exclude this country from rich oil fields have developed problems of the utmost importance. In the solution of these problems MT. Teagle is now to the extent of his ability engaged Therefore, although he would have made any personal sacrifice in order to accept President Harding's invita- tion to become chairman of the ship ping board. yet he felt that it is of higher importance that he continue in the work which he is now doing, believing that the prosperity of this country is vitally involved in the maintenance and increase of the pe- troIeum industry In this informal and unassuming manner Mir. Teagle reveals a characteristic which has been the occasion of much comment since he became three and one-half years ago, at the age of 39, the presi- dent of the Standard Oil Company of New Jersey.
 He is utterly without self-con- sciousness or any manner indicating his sense of executive strength Whenever he speaks it is with quiet sometimes with almost gentle tone and words, and this is now and then characteristic of men who are really great in action.
 What Has He Done
 IT. would be inappropriate to speak of MT. Teagles achievements as pres ident of the corporation which gained last year net profits of $164,000, ,0OO, without also alluding to the perfect sympathy which has been established between him and the chairman of the board, A. c. Bedford. They have agreed upon several matters which have been of significant departure from methods heretofore characteris- tic of the Standard Oil company. They have united in securing cordial CO., operation between the employees and the management. Both look upon their employees not merely as ser wants, but as men and women worthy of all consideration.
 They have united in establishing a change whereby the Standard oil company of New Jersey is now not only a purchaser of petroleum, buy ing enormous amounts of 1t for use in their reflneries, but has also become a large producer Their philosophy of the oil industry of this day in- wolves not only refining but produc- tion. They are causing the world to be searched for oil. They are estab- fishing oil producing fields in Peru. The oil fields of Colombia and Ven ezuela are to be at their command, and by and by if present day fore- casts are accurate they will be ob- taining oil from the suspected vast fields which lie north of the Arctic Circle.
 The Worlds Struggle for oil
 IF MT. Teagle and Mir. Bedford are successful, then the attempt which is made by foreigners to exclude the United States from the oil fields or the world will come to nausht In fact. it is this complication and struggle which persuaded MT. Teagie thar he could not in justice to this country abandon, although tempo rarily, the vitally important business upon which he is now engaged. He is net seeking to exclude the foreign CTS. but he does purpose, if he re ceives contemplated support from the government, to establish fair play both for foreigners and for Ameri- can oil industry.
 This is constructive work. It ulf- fers from the duties which the chair man of the shipping board must ac- cent. because he will have no other business than the marketing of the ship. The constructive work needed for the creation of great shipping fa- cilities was carried on under the d. rection of Charles NJ Schwab. It was masterly constructive work. The ,ships were built, thousands of them, almost with the stroke of the ham mer and the impact of the riveting machine. But the war was ended, and there were the ships in the gov ernments hands. It is for the ship- hing board to make distribution or them so that we may have an ade- orate merchant marine.
 aut MT. TeagIe. MT. Bedford and also in another line James A. Far rell. acting in full sympathy with fudge Gary, are now occupied With constructive work which will lead to the permanence and increase of the oil industry. an industry which IS vital to our prosperity and the com mand of the markets of the world Tor the products of the iron and steel m dnstry. MT Farrell being one of the master minds in these matters.