Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1921-01-08
MAJOR COMPANIES OVERSTOCKED
WITH LEASES; CONDITIONS WILL
IMPROVE DURING 1921; OPINION
uY W D. KERR

uY W D. KERR
OKLAHOMA CITY. ukll.. Jan. -
The week has had moro encourage
ueuts than dIt engagements iu indie
rndgni 90 operators This o. f'
tisH ~ conditions thit hly" obtained
ur several weeks CHIEF among th.
1couuErmrTis were inc ,lnsmuml
iion Of development enterprises tht'
ave horu hanging fir, Tor slmr time
ind 900 inreusr az q cents p,r gallon
Do %" price uf flan'Inp Bt thr refinery
This latter. 100 least one rpnurf sass
u'ars ihlt probably majority ,f .n
'p'udrnt rrnn,u who's. plants has,
e'n shut down l,tuua. they could n.'
IpDAt, sf l pr0ni wI1 o., enabled a.rn
" resume operations. provided. u,
urs' Crude DH Do, obtained o. d
exported tr.t sum. h.rH bDtu,,l tW.r.
~ frl forty f,fr.ri.s h.t, I..u
iUstd down in oklahoma alone since
December
THE public taa 100 re- wrong lUr.,f.
ior regarding s.u" r.nr,r.. ats Goo
.rr.rl manager uf lIs" ulr.r
nuHnF Whom H report rss oYt
hlf H plant hIs been cIUs.I. tIr pub.
. 1umus 600 th" conclusion chat fhr o..
lff. BEL ir bard Wly financially 1000 0
h.s in sn. Dlsr- is.Is @. thr Vur..
alton thlf hr ls il.ar H.l m.N.hH
1n nH .,..'.I pgr s.lmH.re nau.
H- h.'' CLOSED temporarily r.r b..
elu-, We could nut s'f .ruI. 90 I4f
.rr1ufr ilr price uf refinery uulg 3.
gls sI Joss v, o,uI uut .n.rIf, 100 %
profit. lf- um, tu uut uh,u u I'D.
ION Df crude costs uu, than thr Eas.
slime and uhuuuur 90 500 ST OFT
q BE- s,i's fol
Conditions Improving.
"Cwlr.r- ar. uu.a improved ".
NIe,t sillIu'Hl ,. tt. prize .f
refinery prodH.Is 90 900 srUs d.f..
'...re tEr winter when fa. demand
for gns0lin" and l4brl.a,.ng Oils b. iU...
ls NOT unexpected that bios DUue,rr.
would huy lars, quantities and bear
be- market o. ln Il Hut thsy hly o..
ia. ana 90 pUi!'. asI Do o. r-.,r.
AIRY 90 poet "a pfier that win mlk. that
1rDnt GOA thu strength .t that posted
lric, tho r,f.n,r Du r-t 'H, higher
.gurr g.. LH products"
Managers ~ several leading lu.il 90
unrtrrs that are operating Boo OKLA.
Ima, Texas and Louisiana Say th,y
IND 10 much easier o. get operations
ndcr way lately This means. 90
curse. that th,y ar, getting. boz one
say 90 another st least part c, th,
Money required
The tight lease situation is lrDoniug
gradually \ local operator drill.us
n stephens County. OKLA. had the
hief surprise ~ the new year whom
representatives ~ two major concern.
anne O. him q their own accord ana
si,d o. Guy leases near his test THIS
Hrohahly would not have happened IA
iot the biologists q these Couc,tus 90.
eady made q survey ~ the territory
nj approved o.
Promiscuous buying mag 10 several
lonihs OF The big companies over.
ought last year. as they DID IN pre-.
ious years. IL u the custom Il som,
= them 10 appropriate certain
mount 81 money Co. the lcase.huyin.;
and fnr each month. u often hap.
iaus that so many good locking propp
atoms are put lcfC-, the head of the
and department that De viii buy be-.
1ud his appropriation fUr the month
ma possibly hCycnd that q the next
nd the next. so that by Octoler hi,
gnd u exhausted and IL il time 90 qul.
.eas' sellers say ihis situation obtains
many times in several b.g company %.
ices.
Buying locally has been among
friends principally No important
countrywide campaigns Tor the sale ~
eases have been launched Pep has
cen PIT into the beading business hy
he alaity 81 men 81 means 10 90
money required Tor the purchases I,
= not safe % assume that any consii.
rablo number Il men have borrowed
money for speculative enterprises IN
violation 81 recommendation ~ the
Federal Reserve Bank. Tor ID appears
hat member banks In this part of the
uendations very strictly. The ritua.
ton Is brought about by the bette,
feeling generally, the sot;llng %; &C.
counts at the end q the year aud the
desire of men with deposited money 10
set u % working after q hong period
II idleness In the bank
An important discovery recently was
an oll-producing sand % feet thick n
the shallow district u the eastern part
% stephens County. II WINS made ~
the Pure OIL Company which has com
pleied hole o. ihe point of testing
when the general manager u the com
pany was Killed IN Tulsa. The test
probably viii b. made soon. \ few
miles south Of this well another sand
~ the same thickness il said 20 hgv,
been found In thHt region the Gypsy
Oh Company and the Skellcy OF Cons.
pany have made plans Tor extensive
4 third producer has been completed
IN the field twelve miles east ~ Law.