Imperial Valley press., 1923-08-14
PRICE SLASHES
ALREADY MADE
IN TEN STATES
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and huge stock dividends by oil
companies was stirred by his
success in forcing the Standard Oil
20 capitulate.
His method was simple. After
Tie STANDARD refused his demand
for cut from the 26 cants then
charged in South Dakota, he order
ed the Mitchell. 5. d. state iiigh-
way depot to s'll o the pubkc at
lG cents. He also started plans 70
dump half million (, lions on
the market through state filling
stations.
After a day of this the Stand
ara met the Is cent price. hide
penGents and other companies fol
lowed North Dakota, Nebraska,
! Iowa and other states took their
cue and wired demands fer similar
general cuts by the Standard, their
governors claiming unjust discrim-
ination.
Some fears were expressed that
the low price viii be of short dn-
ration.
These reports caused a "gaso-
line spree throughout the eleven
states. Farmers, antomobilists ana
other users OF the fuel descended
upon filling stations with every
conceivable type Of container and
laid in huge storage supplies.
HUGE SUPPLY OFFERED
ST. PAUL, MINI, August IL
Governor J. A. O. Preus was to-
day offered 100000 gallons of
gasoline at 50 cents per gallon fob
Oklahoma, to be sold in he price
war in the northwest. John A.
West, Chicago, made the offer. The
governor refused to say whether he
would accept. Gasoline is selling
here today for 14.9 10 l0.5 cents
gallon.
FEDERAL SUPPLY REPORT
WASHINGTON, ID. c., August +.
Gasoline on hand 1T rcfineries
july amounted to 1,2G3, ,553, ,l45
gallons. constituting so lays sup
ply at the June rate of cOnsunP-
ton. according TO Figures compil-
ell by the Department of the In
terror through the Bureau If Mines.
The figure represents a sEbsi@tlal
decrease in stocks from ,ipne J..
when 65 days supply was reported.
Supplies Of gasoline available JUL
! Of last wear were sufficient for ~
Gavs demands. Notwithstanding
the existence of large gasoline
stocks at this time, supplies are
relatively only % per cent great
er than on the same date in 1922
when the factor Of greatly increas,
ed demand is considered.
Gasoline production in June was
63G, G,734, Pr gallons, and was almost
equal to the domestic demand,
which amounted TO 3,50l $50 gal
Ions. Exports were 1874 994 gal
Ions. Both the export and domestic
demand for gasoline during June
show substantial increase, the
total being at the daily rate OF
23,G27,3l9 gallons. The tofal de
mand exceeded the new supply by
G4.950,l1S gallons, this amount be
ing withdrawn from stocks. The
new supply produced and imported
in June this year was p per cent
greater than for June last year,
while the demand was 26 per cent
greater.
A continued slight decrease in
the number Of operating refineries
is noted in June, the number re-
uorting to the bureau of mines
for that month being 286. Their
aggregate daily indicated crude
oil capacity increased, however, to
2.c5,j47 barrels This increase IS
due mostly to the installation Of
additional stills which have just
been reported to the bureau. These
plants were operating during June
at 77.9 per cent Of their capacity,
running. to stills a daily average
Of .593 .4G6 barrels Of crude oil.
REDUCED IN NEBRASKA
OMAHA, Neb., August l4.-The
Standard Oil company Of Nebraska
today reduced It's retail price Of
gasoline in this state TO l6l2 cents
gallon, making Nebraska the
twelfth state affected by the price