The Washington times., 1923-05-09
BY W.. s. COUSINS.
copyright. 1923, by Cosmopolitan
News Service

growth and expansion of the so
called independent oil companies
has been the outstanding feature
of the oil industry in the last de
cade.
Their business has developed both
through the conquest of oil fields,
previously controlled by the old
Standard Oil group, both in Ameri-
ca and abroad.
In compilation for congress
sional committee, Robert l.. WEIGH,
the secretary of the American Pc
troleum Institute, made some in
teresting comparisons of the finan-
cial status of the Standard Oil and
independent oil groups.
STANDARD OIL GROUPS.
The Standard Oil group of twelve
major and saGnnty-one minor com.
panies in ri1eir latest financial
statements reported total assets of
$2.495,245, 029. against $1,000, ali, 81 I
for the independents.
The largest of the Standard Oil
group, the Standard Oil Company
OF New Jersey. owns or controls
some thirty companies gagged in
every phase of the petroleum indus
try.
Operations are almost equally di-
vided between foreign and domestic
business. Production is about 100,-
900 barrels of crude oil daily, and
new sources of supply are steadily
being sought or developed
Through subsidiaries, upward of
3,500.000 acres in the Appalachian
Mfd-Continent and Gulf coast re.
gions are controlled.
In South America a development
concession covering 5000, 900 acres
IN Bolivia has been obtained. Re-
Mneries owned and operated in the
United States have daily capacity
OF Si4 900 barrels. or about Is per
cent of the refining capacity of the
country
Refineries of foreign subsidiaries
have daily capacity of so. 1000 bar
rels. In addition. the Standard Oil
OF New Jersey has a comprehensive
system for the distribution of lis
products, both wholesale ard retail.
Most Complete Refinery.
The Standard Oil Company of In
diana owns and operates what are re.
garded as the most modern and com
plete refineries in the world. This
company alone produces and mar.
kets from 20 to 25 per cent of the
gasoline sold in this country.
II controls the famous Burton
Cracking" process by which a high
percentage Of gasoline is obtained.
In addition to its enormous gaso-
line business, the company turns out.
practically every other by-product Of
crude oil 1t is a large purchaser Of
crude. as ii produces very little on
its own account.
The Texas Company is the largest
of the independent companies, with
a daily production of { 5 900 barrels OF
crude oil and a daily refinery capac:
tty of 100000 barrels. The company
owns enormous storage facilities. or
tanks. capable of taking care of
about 40 600 900 barrels
At present it has about 10000, 600
barrels of oil in storage, making il
one of the largest holders of petrol
cum A large fleet Of tanllers is
owned, as part of a comprehensive
system for distribution of its prod
ucts. More than 700 distributing
stations are maintained, exclusive Of
gasoline filling stations.
The company's largest production
comes from Texas fields, but oil land
10 owned or leased in Mexico. Okla
homa, Louisiana, Kansas. Wyoming
and Arkansas
Owned by Sinclair.
The Sinclair Consolidated owns or
has a substantial interest in oil and
gas leases covering 10000 acres in
the principal oil fields in Kansas,
Oklahoma, Texas and Wyoming,
about 80, 900 of which are termed
producing acreage.
II also owns leases covering IN
excess of 100000 acres in Mexico.
and exploration concessions ON $685.
900 acres in Costa Rica. $780, 900
acres in Panama. $4,000 square
miles in Angola. West Africa. ana
2s1 900 acres in Russian Saehalin.
The companys policy is TO de-
Velop and acquire new leasehotds
as rapidly as possible. Modern re.
fineries are owned with a daily
capacity Of about 80 900 barrels Of
crude oil and there are eight casing
head gasoline plants with daily
capacity of 80, 200 gallons.
Sinclsir's domestic production Of
crude oil averaged about 22,0S4 bar
rels daily.
Cosden and Company is a pro
ducer and an important refiner Of
petroleum. II has one of the larg
est and most modern refinery units
IN the mid-continent field with q
daily capacity of about 80 900 bar
Pels.
LARGE BUYER OF CRUDE.
AS its oil production is only
about $4,000 barrels daily. it is {
large purchaser Of crude. Th'
(Oynnanv owns mr. controls a hon
1900 acres in oil producing area
and almost 100000 acres of unde
veloped territory which holds prom
Use Of future profitable exploitation
The storage capacity is reported a
100000 barrels.
The Pan.American company cor
trolls directly, or through subs
diaries, about a million and hal
acres of Mexican land. togethe
with interests in IS 900 acres o
other Mexican lands. nearly 500
acres Of leases in Oklahoma an,
louisa ma and 5000 acres. in Cal
'fornia's important oil district. I
has large storage facilities and i
reported TO he carrying over 5000
600 900 barrels of oil.
A year ago the company WA
actually producing about $50, 90
barrels of oil day. but owing t
the invasion OF salt water in til
Mexican oil territory, productio
was reduced to 100, 600 barrels G
light oil daily
GREAT CALIFORNIA INCREASE
The officers of the company clair
that this production could be m;
ter1ally increased, were there
ri