The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-01-23
IN THE OIL FIELDS
Office. 624i VIII PECK Residence 2442
Residence 2442

tate that is being spread brOacast ~
that Ntw York bankers are much
alarmed aa to conditions here ana,
showing how false this IL, ~ ~ hero
by stated that tho Texas ~ Pacific
on company reported recently In
financial difficulties with llkeli-
hood Of n roccivcrship hanging over
H., has been refinancod and stock
held by one Of the weaker banks In
New York, has been taken over by
another financial institution, and
the r. a T.. with all It's vast holding
and many partnerships Is now Ger
tain Of long career Of usefulness
and profitabl" production OF oil.
Another phase OF the sob stuff
that has been going around ~ slated
thus. ~ all the oil IN the O5agc
In not taken by pipe lines Monday.
every well that Ia now drilling VIII
bo ordered shut down" This Is a
rumor that has oven reached the
Indian agency at Pawhuska, but
nothing official has been received
from the department. nor is likely TO
be. Drilling operations are being
carried on In the Usage with the Ut
most care aud oil men are shuuing
In well on top ~ the sand. oi are
diacontinuing drilling, ns the cas-"
may be. Any radical action would
harm more than help, and that is nll
there is TO it. The order coming
from Washington, reported In last
Sundays World, removing the re-
Rtriction as to drilling within "A year,
Ia enough and covers the situation
nicely.
Tho report that comes from OKLA
homa city to the effect that some
OF tho oil men In the south emu
have asked the corporation com mus
sion to appoint supervisors Tor th'
various districts tn see mat me runs
are pro-rated fairly, may all DC true,
hut when the facts are known anu
testimony has been taken, II VIII De
found that there Is no cause Tor
action on the part OF the corporation
commission. because everyone Is
getting IA square deal. Some OF IN"
oil producers are not gottlng 'nci
nt run. but have decided to store
tho mmc until things are LOOKING
better. which ought to be withih
mo rcxt Two or three weeks at the
outsidc. Anything ~ better thhh
government control through the cor
poration commission ot oklahoma
the republican landslide.
The fact and this Is no rumor'
tbnt the Humble oil company has
notified the oil producers OF hottn
central Texas that they must stop
shooiin, wells, and otherwise need
lcssly increase production, or IN.
storage of oil by thc pipe lines WIN
Immediately cease, is not to be taken
ns nm alarming condition, hut II
simniy shows that the Humble Is pc
Ing made the mouthpiece or the pipe
lines In that state. because OF Ha
popularity rather than let the Mag
nolin. prairie, Texas or Gulf take the
lead. All OF these pipe lines are ih
the same fix. and some OF them de.
deseryo to be, because OF tho phr'
they played In the matter OF frelgh'
rntcs when the question was up ne
| fore the Interstate commerce COM
mission. They will get no sympathy
here.
In tho meantime tho great wave
| of hard times, which was chusen pN
/ the dcflation policy OF the fedeth
rcscrye banking board. mas passco
west of New York, is central nov
over the western states, OF ~hisI
oklahoma Is "A part, and VIII sooh n'
lost I'm the vast stretches OF th'
western prairie. and the states Dor
dering on the Pacific ocean WI
have fclt but a small fraction OF l''
force. I'u to now California and th'
other Pacific states have escaped ~
damage, and as this wave or dapres'
sion passes westward, VIII lcav'
| Oklahoma again In the bright sun
shine OF renewed prosperity.
IL has been. and is much better tc
sell part OF the oil for the sam'
price than all of 1t would bring VIII
| the price reduced, and no cut u
prices OF refined stuff, which 10
cludcs fuel oil. would add to th'
output OF the reflnors here Thes'
| rcfiners have been making won
dcrful record and have proven clcar
| ly that the little rcfiner In the ma
! continon. field, referred 10 10 ire
oucntly az the interior retner U