The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-12-14
In THE OIL FIELDS
Office, 6241 W. Fl. PECK Residence 2442

- -
time prophets who have been prog
nosticoting an early cut In the price
Of crude, over production, and a
general bnd depression IN tho Oh
industry were sadly discountenanced
by the actual events. The snle
proved ono thing certain. and that
In that tho big fellows, those having
inside Information on the situation
as u actually IL. are looking toward
their future supply OF crude. and
are willing 10 pay almost any price
FOR leases assuring them Of an adc-
quate supply 20 meet the demands
OF 1929 and tho future.
Tho Prairie would have paid a
million dollars for tract %. Tor
which they paid the unprecedented
price NJ 5000 900" ~ tho consensus
OF opinion among oil men. and while
this may not be literally true, the
tact remains that the unusual bid
ding Monday allowed that much seri-
Gus thought had been expended. on
the part OF the oil men. on their
source OF supply; and with the IN.
cortaln results and profits connected
with wildcat drilling. those Oeage
leasos ARE perhaps the safest bet In
tho entire oil region, hence their
great value.
Throughout tho morning and until
o'clock the bidding on loaecs on
tho oast side was "draggy." the bids
mounting slowly ana with delibera-
tion on the part Of the purchasers,
but. with the announcement of the
first lease offered IN tho Burbank
pool. buz-z-z-z OF excited convcr-
sation rose IN all parts Of the thcntor
where the auction wne staged, and
the attention of all prcsont waa rlv-
cted on the heads and rcprcsente-
tives OF the larger organizations,
Harry Sinclair. j. a. Corden, Nelson
X. Moody. vice president ~ the
Prairie on a. Gas Co. Otis McClln-
tock, Vice president of tho Gypsy OH
company. Charlee HAYNES of the
Tidal OIL company w q. shelly
G. ~. peters. Louis Friedman. H. w.
Marland and his several reprnsent-
ativee; Attorney Kane Of the Phillips
Petroleum corporation, tho Carter
oil company bunch. and many largo
independent operators who filled the
boxes and were seated well down to-
ward the front.
The intereH, wna we'll rewarded.
Excitement Boon reached fever heat
when the INSIDE" leases wero put
up, stnpendous bIda were heartily
npplauded. bidders werc cheered
the Rallory was on it's feet most Of
tho time IN nm effort TO sec who was
making tho last high bid, while tho
irrcprossiblc auctlonecr. Col. r.
Walters. who knows practically
every oil man by hts first name.
whooped and shouted his delight and
siapplnR his thigh with his wlde-
brimmed cowmar's hat. urged on tho
bidding and added 20 the picture
csduenesa of tho interesting scene.
NJ
able, president OF the Prairie on g
Gas Co. nldod and nhetted by Vice
president w. 4, Fitzpatrick, Dana
n. Kelsey, w, n, Gray and others
OF that organization, entered the
fray with enthusiasm and was the
days largest purchaser. his leases
totallng s2.t46.G00 In value.
Harry Sinclair. famous for his good
fellowship and sportsmanship on
the eastern turf as we'll "a In tho oil
game. was enthusiastically applaud
ed for his game bidding on all the
choicest west side acreage. his
smiling, casual mods knocking down
Si,be2,000 worth OF INSIDE stuff
for tho Sinclair organization.
Otis McClintock, vice president of
tho Gypsy oil company, was an-
other bidder that had tho attention
and tho applause of tho crowd. lie
entered the contest against all com =
ers and opened tho pot on one oc-
caslon by n hid of 100000 for tract
az, which was eventually sold to the
Prairie for 100000. Nelson *.
Moody made an Initial bid OF $780,
900. as did Harry Sinclair, while to
Louis Friedman falls the honor of
making The h!Ehs:. .;;.:!:;. hid a;i
record, 100000 for an unproycn
100 acres that eventually went 20
the Prairie for $500. 600, the hlgheot
price ever paid for a i60-acro lease
In the history OF the oil game.
Louis Friedman's bids were the
delight OF tho audience, some OF his
Openers" being staggering. but the
coveted lcaaea were soon put out oil
reach by the record breaking prices
bid by the Standard interests. IL wa'
noted that the Carter OH company
and the Gypsy OIL company wer,
somewhat crowded out by the rapic
| fire bidding of their competitors, the
Carter failing to purchase single
tract, while the uypsy, although buy
Ing something like 100000 worth o
leases. failed to get what MIR. Me
| Cnntock was striving for. the tin'
Burbank pool tracts.
u, w. Marland's brand of phi
losophy was unique Mt Mondays sale
Il will he buying Usage leases 70
10 years yet, and as they have fou
sales a ycnr, why should l worry2
Ia the way he put e. MIR, Marland'
several representatives we're consist
ent hidders throughout the evening
purchasing for tho Marland Refin
Ing company, the Conan oil com
pany, and other subsidiaries and In
terosts, much OF the best prospect