The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-03-31
OF. MARKET QUOTATIONS.
There Is Danger in
OrercOnfidence

Tho concensus of opinion among
men who are best posted In oil mat
ters b. that there Is danger In over
confidence because the present sit
uauuu while showing 80 much better
than only 10 days or two weeks ago,
is NOT showing the genuine signs
of stability that are always recog
uizcd by men who know the signs
OF DE times" when they see them
o. Us thought that there must come
some definite announcement as to
whether or not the Prairie people
are intending 10 store oil or not,
and there must come "a definite an.
nouuCpment that the Curtailment of
drilling Is TO be kept at a 80 ID per
cent status. az now. There are too
many big wells coming in and wild
eating has proved more profitable
during the past few days than ever
in the history of the field.
% viii be necessary to wait until
definite news az to the extent of
the Burbank field has been received
and something definite is known as
10 ,he production in sight at Eldo-
radO, Ark. Then, also, there is the
question of a tariff on Mexican crude
made all the more pertinent by the
declaration ~ X. r.. Walsh, secretary
OF the National Petroleum institute
in his Kansas City speech, when he
said that I'VE are storing tor we're in
pccember) oil, both domestic and
imported. az the rate OF $4,000 bar
rels year. which is the strongest
argument in favor OF a tariff on
Moyican crude that has been de-
liyered in many a long day.
IL IL equally necessary to be eau
N.. 90 -, a
not be overly "cocksure" as to the
future. A large distributing and re-
filming company states 1t thusly:
The spot market on gasoline 20
far this year has shown very little
activity with the exception of the
past two weeks, during which time
we have seen an abrupt advance on
Navy OF four cents gallon, sales
having been made in Group as
high as II Iec.
Some buying power made itself
evident at the Kansas City Conven-
ton, and although this power was
not extensive It produced the ad-
vance noted above. This indicates
the ticklish position OF the gasoline
market from the jobbers and dis
,rihutors' standpoint, and IL an in
dicatiou of the rapidity with which
The gasoline market will react "a
any evidence of firm purchases.
Not only are runs of the refin
cries In the Mid-Continent Fields
considerably less than those of a
year ago, but there Is decided
discrepancy in the stocks Of benzine
and gasoline in the Mid-Continent
fields at this time. compared with
those Of last spring. A comparison
Of the stocks OF several large inde-
pendent refineries for these two
periods indicates that this year S
stocks are approximately So per cent
OF last years. This situation has
been brought about by two factors
the reduced runs mentioned above
and the movement OF "A large por-
tion Of the output Of the Mid-Con-
tiuent field on yearly contracts pro-
viding for uniform monthly move
ment the shipment of which began
last January.
While we feel there may be n
slight reaction from the present
level before advances begin. we see
every indication OF roaring gaso
line market, beginning in mid-April
and extending well into the summer
seaeon.