The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-07-01

gullders. Director John Khcr OF
London was reelected.
DOW JONES. June 30.--Secre-
tary of Treasury dc la Huerta OF
Mexico and wycrs for five Amcri-
can oil companies, which propose
Joint development Of potential off
lands in Mexico. will hold another
| conference today II Will be n con-
| tinuation OF conferences which have
| been progressing for the last few
weeks in an effort 10 arrive at a
mutual understanding between com
panics and the McNan government
| before development program Is
| launched. Secretary de la Huerta
| denied published reports that con-
ference has been split on Question
| " Recognition" article II OF the
| Mexican constitution. which holds
sub oil rights belonging to the gov
ernment. lie added that such prop
ositions as the oil men submit and
which are acceptable will in turn be
| submitted by him to the department
Of commerce and industry when he
returns to Mexico.
From another source Il is' learned
! the conference has not como TO an
| impasse, which would lead to aband-
onment of the entire project by the
oil companies, as was indicated by
published reports this morning. As
"a matter of fact. conferences have
not gotten beyond the point of
Conversations" as one party de-
cribed them. Certainly there Is
nothing In tho situation to warrant
I.A. ha fsNV y
ments project is TO / abandoned
From the beginning the oil com
paniCs have taken the stand for
mutual insurance OF both parties
They want to know Just what con
ditions In way OF regulatory laws
taxes. etc, they will incur before
spending money in their search fol
uu In unknown Mexican areas
- Their work will involve huge eypcn
dituros, which companies are willins
! to take providing they have assur
anCe they VIII not meet impedi
p mcnts from Mexican laws or inter
pretatlons OF their laws. 1t is be
, cause this work will entail large
sums that the five companies de
cidod to pool operations for the sak'
OF economies which can be effected
, CASTER, Wyo, June 3O.-Th'
, Mammoth OIL company expects e
spud In this week on the first three
Of 90 wells on Teapot structure
which will form the quota OF de
volopment required for the first II
; months. Preliminary work on th'
4 survey for right OF way for pipe
= line from Teapot TO Kansas Is com
,, pleted. No further steps towar,
Il construction will be taken until pro
e ductlon is developed In the field
e standard oil. which recently pur
}, chased half interest in Slnclai
o lines In Mld-Continent. will have Al
o equal interest in the Teapot line an
- will stand half the expense OF tn
= constructions.
= New York News--The Phillips Pc
= troleum company and Skelly Ol
e company jointly purchased $4,000,
a 1000 Of property In the Burbank rel
IS In Oklahoma, thus giving the Phil
- lips Petroleum company by far III
= largest proven acreage OF any com
I, pany in the Burbank field.
l, NEW YORK. June sO-Horn
y blower & Weeks sold 1000 share
i Of Pure OIL.
n NEW YORK, June 30.-Wa
Is streets apprehenslons about the o
% situation as reflected In lower price
- for American oil stocks, Ia nc
IS shared by oil men, Decline OF price
o Of American oil securities is at Leaf
e n logical response to an advance
the price OF Mexican Petroleum, bt
u does not confirm 20 condition
d affecting American companies. !
the first half OF the current year eN
y traordinary earnings have bee
~ phunes Usage 1919