The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-07-28
Oil Supply Men Favor
Shutdown Movement Is
Statement of Official

1t is interesting 10 note that thc
oil supply men Of the country are
greatly In favor OF a shutdown ot
operations in all fileds OF the couh'
try regardless Of the fact that such
n movement tends OF denoralize theiI
business to very great degree. TINS
feeling on the party Of the supply
men was expressed in q very clear
manner oy c. II. Lord. president ol
the Rex Machinery and Supply COM
pany, who stopped in Ardmore "ea'
nesday while en- route TO the Duncan
fields. Mr.. Lord was accompanied
by W. u. wetmore, vice president
OF the company. Both men maintain
offices at the headquarters Of the com.
pany at Tulsa. and while here Nisi'e"
the local agency.
81 would rather see shutdown IN
operations naticn wide said Mt.
Lord. and a marked cessation in oil
field development. than TO see con
tinued drilling and the bringing IN
oil new MfllNs NeA wv ANN''N'
production naturally tends 10 hold the
price OF the crude down and even
threatens 10 carry Il lower whereas
everyone knows that curiailment Oh
production and decrease VI supply
win brirs the market back to normal
20, course cessation OF drilling ana
the shutdown Of tools In the helds
would practically bring the business
Of the supply men to u s,ands'il''
but we would rather see II that WAY
Temporarily at least. with the pros.
poets II read!ustment which wou'''
again place the Industry on sound
basis. than TO have the Industry DRAG
along as Il has been doing. and nave
condltlors as unbalanced ~ ,hcy have
been and are now although IN q
slightly Lesser degree.
Had the oil men realized th'
great value OF . shutdown last NO
y.mber. and commenced TO carry OUT
the moycmtnt ~ that time. the crisis
would have been thtee'fourlhs over by
this time, and the Industry wou'd
have b,-cn well on It's way back u
normally"
In speaking OF the condition OF th'
supply businoss. Mt. Lord stated thai
the manufacturing end was rapidly az
sunlns normal aspect, due to ih'
rradjus,mont which the steel m,l''
atr UNDERGOING However. the IN
stability OF the oil market is causinl
unbalanced conditions IN the ral"s en.
Of the bgslnoss. making II rather dii
iieult to forecast the assumption o
stcaJy times.
Mr.. Lord has recently returned IRON
a trip through the east. and while u
New York. visited Wall street IN cou'
nary with Captain Luccy. head OF lh'
lucry Manufacturing Company IN
formation obtained there was to th'
effect that IL vas believed that IN
oil market has reached r0Ck bottom
and that restoration ol the marke
will start during October OF Novein
BET. with noticeable improvement u
conditions In effect about yea
nom now. The fcadiustment viii b
n rn,h.t slow process In the opinio'
oil MAIL NtfffA fAhA'h WI at'Aht
one of the chief factors which vii
aid conditions IN great extent. az
cotdlns TO the statement Of the nnan
cl.rs. will be the opening OF the eS
po,t trade. which is believed viii b
in full swing ~ the first Of mex
year
SPEAKING of the tariff. Mr.. Lor
expressed the opinion that althoUg
/, would aid to some extent. ns IN
position would b, minor factor
aiding the situation.
The -e's nothing more effective
better conditions in quick manner
said Mr.. Lord. than an effectiN
shutdown In operations TO bring aeo'
cut,alirert In production and %
crease the suprlr."
MFR. i.Ori stated that oil men an
capitalists Throughout the cvun,I
ere NOS, 0rum.ssic as regards "