The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-06-04
MIR. PETERS SPEECH.


meeting Of that organization Friday, was
most timely and appropriate utterance For
years ever since Tulsa. responding to IT, geo.
graphic advantage aad natural rcsourcea
started on It's career OF wondrous achievement.
the tmid have asked tho question, "what will
Tulsa do when tho oil plays out7'
President Peters answered the question: very
succIncty from the standpoint Of the practical
oil man. Ho showed very clearly that the ques-
tion is not ono to disturb the men who are dl-
reotng tho destlnios OF tho community today.
Twenty years from oil will be producing
more wealth in Tulsa than It docs today
But tho question has always been an absurd
one II Is fact that in Pittsburgh the tlmid
souls have been asking for years. what will
Pittsburgh do when tho iron orc plays out?"
And with equal pertinenco the question might
be asked, what will Iowa do when the soil ,
censos to produce corn?"
But we talking OF Tulsa. Just as Pitts
burgh has become the fixed center of the iron
and steel industry, Tulsa has become,
through heavy and permanent Investment,
the center of the petroleum industry.
That fact has been so frequently DEM
onstrated that 1t is amazing there should
be doubling Thomases Not once but many
of great promise been discovered at points
more less distant from this city; in many
instances these finds developed In full accord
ing to expectation.
but was there the rush which marks the de-
struction OF one town and the birth OF another1
Not at all-evcn though that was prophesied or.
more than one occasion. No! In most OF tho
cases the find was made by Tulsa oil factors,
alt th.
was done by Tulsa oil factors. Instead of there
being rush to the distant scene which marks
the end OF one community and tho birth OF
another train service was so arranged that tho
field might be operated ont OF Tulsa; while tho
next step to construct oil transport lines
for tho purpose of bringing tho oil to Tulsa ro-
finers.
It was during the development OF Gushing,
Healdton and even the Texas folds. that Tulsa
Inado It's greatest growth both In population
ana prestige as the petroleum center OF the
United States. And now what is the oonse-
quence? Not an oil factor In the country but
recognizes tho fact that the greatest natural
known oil reserve in the civilized world lies ad-
jacent 10 this city We refer to the Usage lands,
OF course. But there Is additional latitude
here; within the past fortnight there have been
developments which Justify the belief that even
the free lands adjacent TO Tulsa underlaid
with an oi-producng stratum OF far greater pro-
ducng power thar any of the fields distant.
SO much for that phase of the question But
there is another. that touching Tusas primacy
as an oil center. Time after time concerns
have removed their offices from Tulsa, for one
reason or another but usually because OF their
liability to secure adequate office room for an
adequate rental. under the impression that
their business might be conducted as satisfac-
torlly from st. Louis Kansas City or Okla
homa City as here. And In not single In
stahce have such experiments proven n success
One OF tho Standard oil subsidiaries removed
it's offices and entire force 10 Oklahoma City
something over q year ago. Since II was operat-
ing throughout the oil regions of tho state Il
felt that it could conduct its business even more
satisfactorily from oklahoma City than from
Tulsa; beside there was the ihducement OF
mnch cheaper rent and more adequate space
Now that concern is seeking new quarters in
Tulsa. why?
The reason IS pertinent TO the whole discus
sion; Because It requires the petroleum atmos-
phere Because iil oklahoma City It was COM
pletey out of touch with supply houses and
salesmen, out of touch with lease brokers, a
very important element OF the petroleum world;
because It was out OF touch with oil bankers
and because It was out OF touch with that gen.
eral interest In and sympathy for the industry
which Is essential to the success OF every bust
ness
Tulsa is the petroleum capital Of America
Just at Hartford, Conn. is the life insurance
capital and for the reason. Okahoma
City is jobbing center and political center
The active oil man speedily finds himself ant
his associates completely out OF sympathy. IL
wants to talk oil, his neighbor wants TO tall
crops and hvestock he wants to discuss o
values with his banker. and he finds that gen
teman measuring everything in agriculture an
real estate values TO the average banker M