Evening star., 1931-12-10
|0L TRADE URGED
TO ADOPTP(ltY
Journal Editor Suggests Con-
ference to Lift Industry
Out of Depression.
BY WILLIAM vOIGT, JR.,
Arrac4nkad Ga


TULSA, Okla, December i0.-Tee-
tering on the fence that divides, -Aco-
nomic security from serious trouble. the
oil industry is presented "a way mxi'-
a plan for all interested parties trget
together at the call of the Federal
Government and thrash problems ,1ntil
solution appears. sois
A. H. Rowley, managing editor ofsthe
Oil and Gas Journal, who conceived
the plan, suggested that the many
forces concerned with the industry
gather, preferably in Texas, whereithe
balance of productivity lies. beforr ahe
first OF the year to decide on a coarse
Tor future action. rae
Prefacing his views with the declara-
tion that unless definite steps are taasen
the price of crude oil viii drop by-the
nrst OF the year, Rowley declaredis,th
industry, the State and the Federal
Government should take inventory"
and decide how to prevent recurrsssce
Of depressed conditions of the rpast
year" ~
Statistical Condition Improved
He recalled that for 90 months~fhe
AA1AosAy o oeahiSLiSdl lldSs SN1El-
stantly improved. Excessive stocks
have been withdrawn each month since
March, 1890, Bureau of Mines figures
show. -
However. with the Winter decline~in
consumption upon the industry, .pEo-
duction Is running steadily higher ~saaan
demand, refinery stocks have increased
until the price has softened almost to
the vanishing point, and there Is -ex-
treme danger of the crude price Etp-
gn1snu ping to the low mark Feached, last
In the forthcoming issue of the Jour
nal Rowiey writes:
The petroleum industry shouldsbe
marshaled in the parade of industry
back to prosperity. 1t is the one busi-
ness whose market for its chief product
-gasoline-has not shown a decfease
during the period of general denyts-
sion. 1t is an industry in which every
person in the Nation is interested,
either through purchase of gasoliheyror
through its expenditure of apptpxi-
mately one Lillion dollars annnalkxy1or
labor, material and equipment, affect
ing many lines Of business" .s1
A full, free discussion of conditions.
OF the trend of crude oil production,
OF gasoline manufacture Of proSxble !
consumption and of ways and mans
OF balancing supply and demansArso
stabilizaticn may be maintaineGc is
urgently needed, he said.
There Is little danger of failux.sa sas
was the case at the Colorado Spytpgs
meeting of two years ago, presidedWrer
by Mark L. Requa of. California.
Much has been learned since than,"
Rowley said. Matters which fiuer-
fered with success of that meeting
would have no place in a round table
discussion now"
Warnings Issued.
The plan would call together redaral
Government representatives, all oYY8n-
izations connected or aff1liated wit6Atll
industry and State regulatory Radies
empowered to speak for the StateSTI
That there is genuine fear thaks$he
Winter will bring deep suffering tQnthe
industry and all connected withsiN is
shown by recent warnings of its Chief
spokesmen. An,
Only two weeks ago W. NJ. Davis,
president of the Midcontipental Ofrhnd
Gas Association, declared production
must be reduced or q price decline, Nth
Its attendant troubles, would fall UPON
the industry
A similar warning came 10 day&4go,
when representatives of Kansas End
Oklahoma regulatory bodies, Davis and
Amos L. Beatty, president Of the AGneri-
can Petroleum Institute, met here and
urged o general 10 per cent slash In
output. -