The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-10-01

oordinF,y as some did. as o. was possible FOR
dl to have done .ho period o. dclrrsslou
would have boon oyer long ere thia. But some
hold ont hoping against both hope aud reason.
Tho inclination ie strong TO complain because
you hnve no rpko oven though you ate uat
cake yourself Tho memory NJ inflated profa
was carefully nuracd In 'ho belief hat the orgy
could not bo over. Hence tho deur,asior last
cd uutl 1n lmmu'ablo law of sheer norrab.fg
could vork iH way Ev'r set there nrc certain
coWWudi'los to-wli. Labor. s'lil 'NIno.pE uu uu.
willingness to recognize the general ehrluEosc.
uu' despite mis- resumption baa actually
taken place without any general recognition Of
the fact Tho ou industry being the particular
subject Of our dis.ours. lot ua return foo 'ht'.
when the price of rrudr uupblpd to "a point
whore it could not boz produced proniably pro.
ducuon began 60 dWludlo This was the natural
ana Inevitable couSopurnco Of over production.
For u considerable length ot time the reports
have shown decrease over tho preceding
week.. until on September 20, 1921, the este
mated figures stand ut 67G.GGs barrels daily
production--a decline OF ltsG57 barrels from
the peak OF the previous year.
Dutiug the period when production has been
declining most rapidly consumption or demand.
has boon picking mp in % constantly Increasing
volume. As Inevitably ps the previous condi
uon of the Industry caused depreciation iu val
ucH this condition was bound to result In appro-
citation OF vIluos Hence tho price adyancca NJ
the past few days. And heoauA. ~ these as
cortainahlc facts not theories &c Is qpitc proper
FOR Mid Continent producers 10 reasonably an
ucipate an advance In tho prico ~ Mia Con
tlncnt crude at an early date. We make no
prctcnso of saying when 20 Will occur, that i'
immotorinl The conditions not only iustifying
such advance but impcrntivcly ordering It
are prcscnt-th is the fact Of very substantial
moment. on IL responding naturally to the
impuHc being given industry In general by re-
sumptIve practices II may be- that artificial
factors rnn and will fiE the exact tins when
the price advance Will occur but that Is not a
substantial fact at all even n It l. a fact.
such Is the situation today The world secs
H. II would bc prcsumtiye for The world TO
give advice with reference 10 oil matters. How
over It ventures word at that Producers win
not be acting with considerable wisdom II they
aoizc on the first toward Sign TO rush into an
orgy ~ production. Neither the present nor
the future offers sound reason for such
action. Business In general must be conduct
ed for quite season along more conservative
linca than have marked the business activities
OF the last four year period. Profits may he
made substantial and sufficient, but not in the
life OF the present generation will they attain
the magnitude Of those profits which charac-
torlzed the crest OF the initiation wave.
Men who seek TO chart their progress by
reason and facts instead OF "hunchea and mere
theory, will not be at all troubled In finding
safe landmarks To guide their ventures. We
are 10 have period OF splcndidly sane and
growing prosperity for perhaps years to come.
which does not mean that another orgy OF
speculation Is pos4be would he suffered.
And It should not mean that