The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-07-19
on MnrLri nnntntinn..
oil Prices CHt again. This
Time to SI.5O Per Barrel

The price OF oklahoma kanaas,
Louisiana aud parts ~ wyoming
suffered 25-cont decline in price
yesterday and Gs soon az Tho vnrlous
oil producing statos are lined NJ
with oklahoma az n now stands,
the chances are there VIII De mo-
further Elashlng ~ prlccs, II the
purchasing agents have been telling
the truth about shutdown being
necessary. The shutdown Us here.
The Suclair-Standard of Indiana
Purchasing company is responsible
for the price cut here, while the
standard of Louisiana reluctantly
followed tho 25-rcut decline OF Sat
urday and marked down tho price
In Arkansas and Louisiana. n is
tough luck for them both. The Ohio
oil company which makes the price
I'm wyoming, reduced prices pretty
generally Ia that state and think uf
~. In the state which has been prom
iaed better prlCcs, and an outlet for
It's crude.
Tulsa people arc determined that
the priCo win not go below $50
II there is such a thing M satisfy
ing the demands Of the purchasing
concerns There is no particular
leader trying Il put something over
lot OF oil but the oil will he stored
Just the same and when II comes to
quitting down drilling operations,
there has been the most spontaneous
movement I'm that direction ever
known In the history OF the oil
country
George 4 Dye. vice president of
the II. r. Wilcox OF & Gas Co.
who has taken the lead In the
shutdown movement In the Bris-
tow field. said 1--WE have stopped
drilling IN dozen wells and are gu-
ing tn drill to the top OF tho sand
only IN many others. The only wells
we will complete will be whcro we
are offsotting well that is now
producing, Rs there seems to be no
trouble In getting everyone to stop
on top OF the sand at loast whore
the wells are not IN yet" And no It
goes.
There ~ some comfort In the fact
that the cut In price has come nt n
mighty good time, lnasmuch M so
many fields are rapidly going on the
therefore not he obliged to shut
down for long. The chances are that
by fall things will he going good
again with the pipelines all fight
Ing for oil.
Now that the Burbank has started
on tho backward trend. there is no
danger ~ any other pool even hav-
ing the slightest bearing on the sit
uation Tho Burbank pool has been
hard to control, not 80 much on
account OF its wonderful production
as on account OF the insisteni dcsirc
20 bring oil TO tho surface that seems
~ possess the owners Of most Of the
acreage up that way They are no,
nearly "cocky" this time ns they
were n year ago whom oil was nj
$3.50 and will probably show n bet
ter spirit anu re rain from drilling
Now r. the TINS 10 tank oil. Tim,
r. the way Harry Sinclair got his
start and anybody can take n look
at these old emntv tanks out on the
banks Of the Flat Rock, north OF
town and can easily understand that
:: Harry Sinclair, in psrinrrshi I
with Pat White. had not tankcd thii
OF when II was cheap. he woult
rtlll have been around here, fighting
for n better price, and making ai
loud a holler ns anybody,
He also had way ~ shipping ol
common carrier. which Is anothp,
good way ~ getting n little change
The chances are that some Of hi
friends will follow his example II
this respect as now Il requires onI,
tender OF 10000 barrels, that IL (
the oil goes to Warren, Pa, o
Franklin.