The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-14
OIL. MARKsr QUOTATIONS.
~. T.. and r.. ". Sinclair
in the City

Harry IT, Sinclair. chairman OF the
board OF directors Of Sinclair Consol-
idatcd. with hiB brother. Eln W.
AinCiair, president OF sinclair Con
soHdatcd. arrived in 1ulsa ycstor-
day moaning from Sow YORK In
company Wltn Grafton stanford Oi
mo rldi department ut tnat organ
iAduuip ana b. Roger kemp, Cuait-
man OF the hOard OF ulrCctoTB ol
the alnD lar Oli q Gas Co.. who A.
returning nome after spending tho
summer az ms Long IHEtud resi-
dcn,c.
conditions arc showing q steady
Improvement every yRnurr, said EdrI
W. sinclair wnvu lntcfNicwcd last
evening. but here m the heart OF
the Continent lrld, ot course,
tnuy are mucn bGtter than cHc-
whore, sincu the price OF crude
started TO advance,
- hu advance prices OF crude 80
attriuut'd 20 various lhiBgs, ana tho
general Improvement In al lines oi
industry 10 one OF lhcm, but not the
greatest, Condiuohs IN Moxico me
taliure OF those great pruauCcrs
which have been lloodInB tho crude
mnrketL is the principal iactor IN
bringing about nlgher prices, Mex
leo as = COmpcNtor is practiCauy
OF the uAts, Hnc may come DAcK,
but / doubt A. At any rate. that
country Will not bo u monaco to US
Tor u year at least, and pcrnnpa Will
never be aOlc to ptOuuco ana mar
ktt tho great quantities 6 CrudU II
has In tao past
'Auo,nFr iae,or contributing to
higher luAUls a. a,mpty dCmuud ana
themselves witn vast Quantities OF
crudo ana rcunod stults on thuiI
hdnds at the end OF the war ana
prices then being 40 hlgh tury re-
fused TO purthuss until lower lev
els were reached. / ms lack OF de-
mand caused the abrupt price do
cline, but now since uto oupply 10
falling OF ana tno demand N con
tlHu!ug TO grow greater, higher
prices must p,tVaiL on could 80 To
S3.aO--l won predict that It will
but l would like to see II 80 to So
per barrel
"1horo Is one thing that | want
to emphasize, ana that a. that oil
must be stored " prices s:e - at
tain anything liko their iormor Lowell
y ls q mla.nAe tor producers to start
active driillng campaigus--t that We
ali know. but tho oil that must be
produced should be stored aud not
thrown ON tho market indiscrlmi-
natoly The sinclair organization
has something like il,0O0,000 barrcls
in storage nj the pTusvnt limo, anu
Is continuing ia build tankago.
"Thc greatcat menace to tho oil
industry lust now. however. IL dis
elimination IN the price OF crude In
the Mid-Coniincnt field. Grading
crude oil IL more harmful than any
other one thing; II 3s gravity oil IL
worth Sl75 what is 81 gravity
worth? II viii practically demoral-
ize the oil business The Prairie oil
~ Gas Co. triod II 10 years ago and
it was a terrible failure"
Mir Sinclair refused to state what
the sinclair Consulldatod's attitude
would he IN case the practice be-
came general,
Such statement ~ this, regard.
ing the individuality OF grading
crude, coming from man 40 prom-
inent aud influential in financial
circles az well as in the oil industry,
should awaken .he fraternity Into
giving tho subject due and careful
consideration MCssra. Sinclair will
remain In Tulsa for several days, vis-
itinR their holdings in this Vicinity
and will return to New York some
time next week.