The Adair County news., 1921-02-23
OIL NEWS.
[BY E. t. KEMPER.l

SIou Ol q SlDSl0 Op6IdUlOu III IiliS U6fIl-
tory, and all operators and others con-
nected with the business here are very
optomistic as to the final outcome, af-
ter readjustment of the matter, in
cluding the prices Of labor, supplies
rnd equipment of all kinds. This low
ering In prices of crude oil is in line
with many other products that are
now being cut and cut hard. All
products of the earth, peculiar to this
section Of the country, are coming in
for their share of the general reduc-
tion Of prices, and the situation is
such that many who are of a pessimis-
mistic turn of mind, and who look at
the world through smoked glasses, are
ready to give up in despair. The sit
uation is anything but encouraging,
in certain directions, and the oil busi-
ness is being hit pretty hard just now,
but when your "Uncle Johnny" gets
through with placing few donations,
and the great Standard Company COM
pletes the filling Of its thousands of
immense tanks scattered all over the
country, then watch the price of crude
oil begin to climb again. At the close
of the year 1920 the oil in stocks was
reported to be a total of 1872, 900, 600
barrels Stupendous as these figure
seem this was only a ninety day sup
ply for the country at large The de-
mand is ever increasing, consumption
perks up in rapid fashion, and Uesk's
time could make big difference in
weather and industrial conditions, and
their combined effect on oil require.
ments. With lowered production,
any appreciable gain In consumption
would cut serious inroads on the
amount of crude oil in storage, so the
matter of prices will adjust itself au.
tomatically.
DR.. Frank d. Hines, president Of
the Southern Oil & Refining Com.
pany, Denver, has been spending sew
eral days in the field at Bakerton fol
the purpose of getting first hand in
formation regarding the situation
there as 1t affects their production anG
the marketing Of their product ir
that field. All arrangements have
been completed for the shipping o.
oil by the company, and they will be
gin TO move it without further de
lay Their No 5 we'll on the Rus
Gilbert farm is nearing completion
and they expect to drill in any day
They are counting on another inl
strike when it is completed.
The Palmer Oil & Gas Company
drilling on the Royse farm, two mile:
northeast of to Rn, has been shut dowr
several days awaiting the arrival of Z
lighter string of tools which were
found necessary before deeper drilling
could be done. Mr.. Geo. Fl. Palmer
president and general manager, ha!
been spending several days in Ohit
giving the matter of securing and for
warding necessary equipment his per
sonal attention, and this means tina
no unnecessary delay will occur in tn
matter, for Mr. Palmer is man VIII
does things right now.
Mr. G. A. Roy, Nicbolasville. KY
general manager of the Roy Petroleum
! Company's interests, was here durin
the past week looking after thei
drilling operations on Damron'
Creek in the northeastern portion @
the county. All kinds of mlshap
have interferred witch their operation
there, aDd many a man would hav
given up in despair but Mr. Roy ha
kept right behind the development
work, and it now looks as If his effort
wiIlsbe fully rewarded and at no di;
tant date Indications are very fay
orable for an early strike there. an
, Mr. Roy feels very much encourage
over the situation.
Another break in machinery, tn
time the drill being broken of in tt
hole 900 feet down, of the Columb
a Development Company's rig, Mr.. {
I. @. Fink In charge, has caused a So