The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-09-14
Ticker DOpe

NEW YORK. Sept. l3.-Absorp-
ton Of Producers aud Refiners corp
OratlOn by a Stard8rd OH company
uCEytinti Tor which are under
way now ls desired because OF pros
pcctivo value OF Producers and RE-
finers undevclopcd acreage in Wyo-
ming.
speculation IN the Mid-COntinent
field as TO Just who is trying to buy
the Producers a. Rcfincrs Corp. The
Standard OF Indiana operates a big
refinery In Wyoming, and this is the
most likely purchaser, because It's re-
dent deal with the Gulf fol- through.
II developed after negotiations were
concluded, that an inventory dis
closed the fact that the Gulf had
20 per cent moro available asset 4
than the Standard OH company OF
Indiana. which IS certainly news 10
most people.
II IL generally understood that w.
/. Kistler OF the Producers & Hefin-
ers Corp. will be back in Tulsa he-
fore long. and viii start n new COM
pauy OF his own; and the chances
are that there viii be some anxious
buyers after him before he has been
In business n yenr. for he will most
certainly make good from the drop
Of the hat Frank J.. Kistler who
organized tho Producers AZ Refiners
Corp, said the other day. "A new
deal would mean a broad era OF ex-
pauslon for tho Producers a Refin.
ors. A pipeline would be laid from
the company's properties In Wyom-
Ing TO the main line Of the Union Pa
ciric railroad In that state: and n
new refinery OF large capacity would
hx Nl.t
Indicate that the standard oil COM
psny - Indiana viii not he the pur-
chaser but--one never can telll
Marland officials say their Mexican
subsidiary well No. z, in the Blmon
tract west OF old Panuco district re-
ported as "A dry hole, shows oil at
2.s05 feet, Drilling has been sus-
pended awaiting for additional cas-
ing.
Standard OIL of New Jersey ad-
vanced tank wagon price OF kerosene
half cent gallon In North and
South Carolina, and cent in New
and the District OF Columbia. New
quotations are 12la cents in New
Jersey IL cents In Washington and
II y cents elsewhere.
NEW YORK-Standard oil Ia me-
gotlating for purchase OF several
prominent oil producing properties
In this country, particularly those
with light oil reserves. II Is known
that offers have been made for Phil
lips, Cosdon and Marland and nego-
tiations are now on for absorption
OF Producers & Reflners. Aggres-
sive policy OF Standard OIL is seek
In control OF oil producing proper
ties follows disclosure OF senate oil
investigation that Standard OIL owns
only about 30 per cent OF oil produc-
tion In this country, whore 20 per
cent Of worlds oil is produced.
Company mas large holdings in
that state, whore II has encountered
enormous gas fields. A few months
ago, In Ferris field, Producers q Re
finers obtained substantial showings
OF oil I'm gas wells. There was no
reduction in gas pressure when oil
came Ia and indications are a new
oil field OF considerable size will
come in. OF was obtained at about
1900 feet. In the big sand draw
field, tho company has drilled IN
some of the biggest gas wells in the
country, and oil men are OF opinion
that once gas pressure is exhausted
80 as 60 permit drilling wells TO a
deeper sand. another large field will
he developed, Aside from probability
of developing a big oil production,
company already is earning at rate