The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1921-08-26
ILLINOIS OIL
HEAD SAYS
CUT CERTAIN
Prices Same Today, but
Drastic Reductions
Anticipated.

There was a lull today in the
scrimmage IN gasoline prices, for
the patronage of autoists of this
community who are heading into
Rock Island to tank up" on low
cost gas, but a prediction that gaso-
line will probably drop to S12 cents
a gallon, and a rumor that federal
complaint is to be filed against the
Illinois Oil company, kept interest
of motorists at high pitch.
The Illinois Oil company made no
further reductions in price today.
Thursdays price of 1612 cents a
gallon still stands.
The Standard Oil, the Sinclair
Refining and the Midway Oil COM
panies, the latter with one service
II cents yesterday to meet today
the 1872 cent rate of the Illinois
Oil company.
The prices in.Davenport and Mo-
line are 20 cents a gallon. The
price at the one service station in
Davenport selling Illinois oil is also
20 cents per gallon, but Frank p.
Welch, president of the Illinois
company, says that the Davenport
station is not owned by his com
pany. but is privately owned by
himself and Carl Mueller of the
New Harper hotel.
RumOr Federal Charges.
A rumor was circulated this
morning that charges have been
filed with the federal trade commits
Sion OF the Indiana district, alleg
ing the Illinois Oil company is vio-
lating the Iowa anti-discriminatio
law, in quoting lower prices to
patrons in Rock Island than else
where in the district, which is COM
posed of the states of Illinois, Iowa,
Indiana, Missouri, Kentucky, Michi-
gan and Minnesota, in which the
Illinois Oil company is said to have
1877 service stations.
Mr. Welch in an interview this
morning said that he had not heard
Of complaint being filed with the
federal trade commission, and de-
clared that there had been no dis
elimination on the part of his com
pany He said that prices are be-
ing lowered at all stations con-
lOli6u ny the Gull pdAN
In this, he said, influencing fac
tors are taxes paid on the proper
ties and the various costs of up
keep. The price in Rock Island is
being worked out on low overhead,
and cost on carriage, the tank cars
being headed close in on the tracks
here. These and other similar cost
conditions are being taken note of
IN the various communities, the
president of the company said.
Makes Low Price Prediction.
Explaining the almost daily re-
oucuons in the price of gasoline,
Mr. Welch said that the surplus of
crude oil in what is known. as the
Mio-continent pool is responsible
lie said the surplus of crude oil
ABOVE the amount being used is be-
ing added to at the rate of 10000
barrels daily. and that his company
and other oil companies have all
nelr storage tanks filled and are
DuiIolng additional ones. Reasons
gwen for the big surplus in crude
vi are that more wells are COM
ine IN and that there is little or no
export OF oil at this time.
mr. Welch said that his company |
now pays s1.31 a barrel for crude |
vIl and that drop of 25 cents a |
OaaTel is expected momentarily.
II can easily be seem Mr.. !
"elch said, that with big sur
pius or crude oil on hand during /
mai Is the biggest sale season, |
prices must drop when business ,
s.aftS to fail as winter approaches,
: uu at the same time no let up in |
'Ne now IN the producing fields.
>, ! believe that crude oil will drop |
70 80 cents a barrel and gasoline |
viii sell for S5z cents a gallon by /
Jan. l. The reduction from the |
r.n5 r.aCes today viii come more or less
gradually"