The Birmingham age-herald., 1921-01-08
Daily Financial Gossip
By HOLLAND

New York. January 7-(Special )-Busi- ness men of the south will long remem- Der an address which was delivered by 1 Arthur D. Little of Cambridge Mass, at congress of southern business men about three years ago Mir Little spoke of the necessity for conservation of the almost inconceivably rich resources of the United States. He pointed out certain neglected or wasted resources of the south, and as a result of his suggestions effort was immediately begun to develop some Of these hitherto neglected re- sources Among other resources to which Mir Little referred was petroleum He has given this long and careful study, not as a leader in the oil industry but as man of science, and he has recently set forth several suggestions respecting our oil resources and outlook which will undoubtedly command the attention Of the leaders in the oil industry of the United States. Some of these leaders a- ready confess their perplexity as they look into the future. Some of the larger corporations have sent forth competent prospectors searching the world over in the hope that discoveries of hitherto un- developed petroleum resources may be made. Enterprise of this kind is justified by some of the conclusions which MT. Little has reached.
 He recently stated that of the seven do- nestle sources of petroleum in the United States three are already either absolutely exhausted or partially in decline An- other of these resources is an unknown quantity because not yet can science or the leaders in the industry assert that it is or is not source which juStfies hope Two of our resources are now, MT. Lit tie says, at their best and one, the Rocky mountain field, is, he is convinced in it's youth. To this may be added the Mex ins GalI lIs.a T@ |, ,., worlds "The situation today is about as it was 20 years ago, when the great es-' tablished sources in the eastern United States were at their crest of production" Yet in detail considerable difference be- tween the conditions as those were in 1900 and as they are in 1920 is noticeable. The Spindle Top, the Midway Sunset, the Glenn Pools, which really deluged the market when they were developed would today be absorbed instantly. MT. Little is persuaded that no other pools will here after match the outpouring of these three pools.
 THE MEXICAN OIL
 Mir Little does not hesitate to say that Mexico so far as it's oil supplies are con- cerned has been greatly overestimated. Mexico is, he believes. very uncertain element in the A -.leiscan petroleum supply of the future. For on the one hand is the unlikelihood that the somewhat limited drilling has tapped all there is in the way of great production. Mexico may yield larger and larger supplies of petroleum, almost all of which will 20 into the American market On the other hand is what Mir. Little calls the "cold fact that even what has been developed is unreliable in the extreme.
 SEVEN HUNDRED
 BILLION BARRELS
 One of the leaders in the American pe- troleum industry said recently that in all probability the demand upon the in- dlstry for oil will in 1921 require at least TOO, ,003O00 barrels. If from our own do- mestic supplies 45000Q,0OO barrels are op- tained there would remain need of av,- 900, 900 if the industry is to meet the de- mand.
 If we sare to maintain our industry we must look to the Mexican fields, and to