The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-01-24
IN THE OIL FIELDS
Office. 624l w. H PECK Residence 24A2
Residence 2442

banks had Issued paper that could
not be redeemed. and this had come
back to the banks. who Immediately
went out OF business, leaving every
ono stranded
II was a quick comeback that tho
United States experienced, beginning
in lSi3. Just as now, with reliable
banking system. the result OF many
experiences with hard times, tho
country X coming 70 tho front. with
a much quicker recovery than ever
known, and the oil industry being
lu strong hands and being FOR once
an industry wherein tho hig mo-
nopolv and tho little fellow Is CO.
operating--is bound To hc the first
90 show the world what readiust.
mcnt means, no matter what hap
pens.
lt is lucky FOR everybody that tho
big people have made n lot Of money
and are IN position to play the
game in a large way. II was old
Commodore Vanderbilt who said
speaking OF the Standard oil crowd,
these people think in continents,
and It is the Standard people who
have promised that the present dc.
preston is to hc shortlivcd and only
l0I II lllllt NUllf arc INC Oh pro
duccrs requested to curtail drilling
and put up with n 20 per cent cut
in the runs. II Is M 10 them to
lead the way in bringing about in
creased activity whenever the time
comes.
Old time oil mon are naturally
pcsSimistic, both from habit and
| from experience, and there Is again
| a. fg,
sition to bring about a speedy read
iustmont. as for instance---as one
| man puts it--"if tho market is Co-
inE down | hope It viii go to tho
bottom al once so that we can know
| what to expect" Tho only trouble
with this Is that the speaker is under
suspicion of being anxious 20 ac-
| puirc new holdings and take on new
| production while the taking is good
| Ills predictions havc always been
| pcssimistic and have failed TO ma
tcrializc many times during the
past
There is another element and II Is
not guided by any mercenary motive
who would have 1t over with and let
| the oil, II there is surplus over
consumption. bc scattered 10 tho
four points OF the compass. believ.
ing that thus there will be later on q
stronger demand and new markets
| opened up; that the quicker It is
over with the better. and condition:
will that much sooner right them.
selves that the industry is big
enough to manage it's own recon
struction.
Should II So happen that this view
is also held by the great organize
tions that control tho price OF crude
oil and refined products. 1t should
not then he a matter of worry to tho
average oil man. and the refinei
especially should see to 1t that he
does not give his profits away be-
cause of all things, there is one out
standing fact that is. with good
weather, there will be a tremondou,
demand for gasoline during the i'm
mediate future, as never has there
been a winter such as this since gas
oline became tho motive power o
transportation AS II is today. Gooc
weather has been forecasted. bu
betting on the weather is a rea
gamble, and no mistake. on tht
other hand. rainy spring th'
subject is to- painful to talg about
There is always the pessimlst wh'
creates nothing. or as Jack RyaI
puts It: THE only reason any pcssi
mist was ever successful in business
is because he has been carried aloni
on the wave of success created b.
the optimist," and Mr.. Ryan ha
been playing n big game this win
: ter as the marketer OF many thou
sands Of barrels Of fuel oil, and /
therefore an optinnlst in the righ
way Whatever happens, II woul,
he we'll to swat the pessimist," II
has no place in the oil industry
There was a time when. because q
their very great numbers, the gan
of oil writer's could see much troubl
coming to the industry and get ava
with il, but times have changed.