Evening star., 1924-10-26
DY WILLIAM ILLMAN.


Proceeding on the theory that ever.
f7uctuation in the price of gasoline
has a meaning all its own. car owners
throughout the country are Seekins
an explanation of the present low
figures displayed on gas tanks. par.
ticularly in the Eastern touring sec.
tions where gas at many points once
lowered close to the 40-ceuts-a- -gallo1
mark.
The motorist appears to be con.
WINGED that nothing that has hap
pcned is the direct result of his
wanting lower-priced gas, for it Il
generally conceded that the American
car owner is not as yet we'll enough
organized to compete with the sort OF
organization responsible for nation
wide juggling of gas prices.
There is a definite reason for the
present low level of gas prices now
prevailing. many believe. and unless
car owners discover this reason now
they are due for an unpleasant sur
prise and a bad pinch later. 1t is
pointed out that. usual. tho Eek
plantations" being given to the
periodic variations in gas prices are
so diverse as to succeed in confusing g
the motoring public. thus preventing
the average motorist from being able
TO organize against the problem In
any we'll defined manner.
He is told. one day, that within
another few years the supply OF
gasoline will be 50 low as to send
prices sky high. \ month later he
Is given penny reduction in gas
and informed that there is overpro.
duction in the oil fields. He hears q
lot about competition. but notices that
nothing happens one way or the
other until d majority of the oil in
tn
unison.
RumOr Given Credence.
Such apparent Inconsistencies give
credence TO the rumor circulating IN
financial districts to the effect that
the motoring public is once more the
goat" in the latest mulcting process
and that within Il very few months
gasoline will touch new high water
marks.
The Wall Street that knows the in
side story is reported to be laughing
up its sleeve at the. explanations
given to the public regarding the re-
cent nation wide slash in gas prices
The mention of tho law of supply and
demand, it contends. has nothing
whatever TO do with the motorists
demand for gas or the supply in Stor-
age, but refers to the situation with
regard to crude oil. The facts and
figures circulated in explanation OF
recent reductions in gas prices are
widely regarded by many investors
as poisoned publicity.
They contend that at the present
moment the monopoly of oil inter
ests Is bringing to Il close rather
lengthy plan of demoralizing the
market for crude oil by spreading the
gospel of overproduction and lessened
demand, and that just as soon as the
monopoly has stocked up completely
at rock bottom prices retail prices
will be sent up to point where the
oil business will flourish as it has
never fourished before.
On this theory investors are load
ing up with oil shares, apparently
reading the handwriting on the auto
motive wall. A few prophets are
trying to make it plain to the mo-
toring public that Wall Street is
seldom wrong, but there seems to be
general tendency to hail gas at
less than 20 cents a gallon as a great
benefit and to forget that it is a
calamity in disguise.
With the independents squeezed out
of the oil business, from production
to filling station. the field will be
wide open for the monopoly to do
exactly as it pleases with prices, il
is pointed out. 1t has happened be-
fore, but never on quite such a large
scale. Similarly, the motorist has
been victimized before by oil-price
variations, but never in such bold
dimensions.
Since investors themselves cannot
get head nor tail of any facts accu-
rately portraying the exact produc-
tion and consumption figures for the
country, nor the true amount of gaso-
Inc i'll storage, 1t is Impossible to
figure what the 100000 car owners