The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-12-07
Arknnsas.
Buchanan Makes q Hit at
Natural Gasoline Mdnufdc-
turers' Conference

THE Development of the Natural
Gasoline Industry" vividly por-
trayed by d. f. Buchanan, sales
manager OF Chestnut 4 Smith Corp.
and vice president of-the Association
of Natural Gasoline Manufacturers,
and Use OF Natural Gasoline in
Motor Fuels" a splendid paper by
o. p. Keeney manager Of bulk sales
of the Tidewater OIL company, were
the high lights of the conference OF
the Association of Natural Gas Man
ufacturers at ST. Louis Tuesday.
REPRESENTATIVES Of the natural
gasoline industry from California
10 Texas were present. it being one
OF the best attended meetings, as
well as one of the most interesting,
ever held.
tracing the development of the
natural gas industry from it's in
ception % the present, Mr.. Bu-
chanan told Of its struggles and
adyersities and hew it finally
attained the high position 1t now
occupies. Mr.. Buchanan's paper
was well received and ELECTED much
favorable comment.
Mr.. Keeney's paper was devoted
10 the value of natural gasoline as
a motor fuel. He showef; how g
proper amount of natural gasoline In
stralght-run gasoline made an al
most perfect motor fuel. His treat
ment of his subject indicated q
thorough knowledge of his subject
and his paper met with a fine re-
eeptioh.
The natural gasoline manufactur'
erstkconference was in connection
with the American Petroleum insti'
tlns convention. which started to-
dag
+. E. Kistler, president OF the
Producers e. Refiners Corp, in al
address declared the oil industry
was making rapid progress in Mon
tana and wyoming after discour
aging beginning.
Twenty directors OF the institute
were elected as follows.
f. II. Hilman, San Francisco; w
S. Parish, Houston, Texas; Geotg'
W. Crawford pittsburgh, Pa; II. X
Gallagher, san francisco; j. ;. Cos
den, Tulsa, Okla; r. d. Benson
New York; Edward Prizer. NeV
York, B. G.. Dawes, Columbus ONO
z~ K. r. Kingsbury, san Francisco
e Robert W. Stewart, Chicago; +, I
2 Crenshaw, Chicago; J; Howard Pew CIV
Philadelphia; j. E. O'Neil, lndepen
r2dence, kan; a. A, Moody Pitts
I burgh, Pa; w. C. Teagle. New YORK
4 John Barneson, Los Angeles; f. ]
\ Henderson, San Francisco; 9. ]
J Chamberlain, Cleveland, and Jultu
4 A. Germany, Dallas, Texas.
"Wednesday.
y ST. LOUIS, Mo-, Dec. e.-oye
seven hundred today attendln
/ American Petroleum institute
( Board OF councillors of institute me
Y this morning to report on ana dls
4 cuss the new board of 20 director.
( over six hundred reservations mad
for annual dinner Thursday nlght'
A. c. Bedford's address well RI
Celved, as was address of J. j. M'
Graw OF Tulsa, who stressed the IN
portance of oil companies preserVln
II large reserves for expansion ana d'
1 yelopment OF the oil industry; ais
\ the Importance of lower tax @
the small oil we'll in order 10 PR
serve the supply. Mr.. McGraw sal
! In part:
But the real oil producer, II
real oil refiner and the real ma
keter, built up their business out
their profits. Instead OF spe ndlI
every year the earnings that ha
accumulated these went back IN
oil properties. into the extensions
refineries, into pipelines, into tar
49, cars, Until by sheer force or WI
and untring labor, the oil buslne
4 was built solidly upon itself. Th'
capital ventured to look over IN
child that had so suddenly come
manhood. But, as happens, cap.
has sometimes been too ready 10 a
pend on the hope of profit instead
patient study in proffering It's ara.
BY so conserving and so usll
q their profits, the older compani
have been able TO expand their puI
ness without even asking the pub
10 advance its money by the pu
chase of stock or bonds. And u
expanded business, represent
really the accumulations OF years
now looked upon by many as
enormous profit which should
taken from those companies whi
have patiently accumulated th'
capital
Pipelines and refineries have be
built. leases have been deVeIope
tank cars have been bought; ana
have been paid for out OF the
serves set apart for that purpo
should not these companies be pI
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