The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-12-07
oil Market Ouotntlous
The First Days Session
at the Chicago Convention
by ". H. PECK

~ tftt CHNuVO CONItHttVW
by W II. PECK
special 10 The World
CHICAGO, Dec. G.-Ihe fret
days session of tho second annual
meeting OF the American Petroleum
institute at the Congress hotel to-
DAY, brought out representatives. Of
all branches OF the Petroleum In
dustry from all sections Of the coun-
try, Including In their number
many prominent executives n was
noteworthy, however, thar Oklahoma
and Tulaa had but two iu attend
ance; but u will likely appear be-
fore the meeting o. over that these
fields took an Important part in the
diHcussions, ns Tor instance, there
IL moro than usual Interest In the
address which will be given tomor-
row by j. r. stockton, vice prcsi-
don't OF the Purchasing Agents nssO-
clation of Tulsa. and who Is assoc
ciated with the Producers 4 Refir-
ers corporation. because ~ the fact
that he comes 10 tho convention
with now idea, TO wit; Tho stand
ardizatlon OF oil well supplies. lie
Is being assured OF tho earnest CO.
operation of all the larger manufac-
turers who regret that hls address
viii come as tho last number on the
program Wednesday morning.
In connection with the first days
meeting which was attended by ap-
proNlmatoly one thousand active oil
mon, there were preliminary Sos
rions OF the board OF councillors
md the board OF directors. which
showed particularly the fun attend.
ance OF these directing officers OF
the organization. A part from the
regular program, important prellmi-
nary sessions OF the freight rate
committee and the technical com
mittees OF the institute have already
been held.
At the first days session OF the
institute many important state
ments bearing on the future OF the
petroleum industry were made. as
Tor instance, Thomas A. O'Donnoll.
president Of the American Petro-
leum institute, said that the indus
try was behind the limitation OF ar
mament conference at Washington
100 per cent" He pointed ont that
the navy ~ now using less than 8
per cent OF the oil produced In thia
country measured as crude oil.
Walter c. Teagle, president OF the
standard OH company OF New Jer-
sey received the most applause when
he stated that 'it Is easy to see the
mountains In the distance, and
hence II ia easy 10 understand the
great need OF oil for future use: but
leys that must be crossed and the
intervening mountains that must be
scaled" He doubtless had refer
once 10 the predictions made n year
ago that the country was short OF
oil End that everyone should con-
serve the use Of petroleum products
20 the limit
Judge Edwin Il. Parker. general
counsel of the Texas company,
after pointing out the legal and eco
homlc phases OF cooperative COM
petition, said. Tho American Pc
lrojeum institute has a great oppor-
tunity TO demonstrate to the world |
the value Of cooperation by the |
competing units In any industry IN |
manner 10 promote and stimulate |
iul, fair and free competition I'm |
the interests not only OF an enlight- !
oned industry, but also OF an en-
hghtened general public" His re- |
marks somehow, fell short when II |
rome TO The outlining OF construc- |
I'VE policy such as practical oil men /
nave been hoping for.
AT the evening session d w. Moi ,
htt, vi5S president OF Cosden a Co.
spoke In his usual happy vein. OF !
lhe growth and Importance OF tho
Mid-Continent refining industry and
the problems OF the Mid Continent
retlners. Mr.. Moffltt should be made
W NiAt' iih speeches ana give them
out 10 the press in advance, as they
are replete with sound argument
ana, OF course. are impressive as be-
ing genuine oTatory. There are no
ways OF catching his fine points. as
he Is a rapid speaker.
Edward priZer. president OF tho
vacuum OIL company, after giving
observations of HIS recent trim 10 Eu-
rope, said that he could zee no rca.
son TO expect an early and mate
rlal Increase In European consump-
ton but at the same time he stated
that oil would necessarily play nm
important part In the rehabilitation
OF European countries.
Edward L. Doheny, president Of
The Pan-Amerlcan Petroleum q
Transport Co. and tho Mexican
Petroleum company, gave an inter-
est.ns geological survey of Mexican
petroleum resources.
Among those in attendance at
Chicago today was President Davis
or the Mld-Continent OIL and Gas
association: E. Il. Schock OF the In
dlahoma Refining company; ]. IL
Markham. tr., and Frank Breene OF
Tulsa, and President Mourer OF the
Kansas d Gulf Co.