Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-11-21
CKES MAY DROP
OIL PRICE FIXING
Secretary Bows to Pleas
Asking Analysis of Pro-
duCti0n Cut.

BY the Associated Press.
Possibility that fixing of oil prices by
the Federal Government might be aban-
doned entirely was seen yesterday when
Secretary Ickes. oil administrator. post
poned until January any action on
the matter.
The Secretary agreed TO the demands
of most of the ms jor oil companies in
an announcement read before what was
scheduled to be the first OF long series
of hearings ON the price schedule pre-
viously set to go into effect December l.
Ickes also postponed the hearings for
at least Is days to await recommends
tons of oil executives who oppose price
fixing If thought feasible. hearings will
be further postponed for 90 days.
With the exception of Standard Oil
of California and the Consolidated Oil
Co.. most of the ma jor oil companies
have opposed price fixing.
Studies Production.
However. independent oil executives,
headed by Writ Franklin, chairman OF
the Planning and Coordination Com
mittee. which is charged with making
recommendations under the oil code,
said they were prepared to renew their
efforts for price fixing
The Secretary'S announce ment said
he had acquiesced in pleas of certain
oil interests for further time to analyze
the effect of the reduction Of oil pro-
duction that has accompanied the allo-
cation orders under the oil code.
These interests have argued that
normal economic influences would in
crease the prices If oil production we're
properly limited.
The Secretary urged that all elements
in the industry cooperate to reduce
ey-ss stocks of gasoline. Plans are
unrsr way now to bring gasoline pro-
du .ion into line with crude oil produc-
ton.
Ickes has insisted all along that
prices should not be fixed until produc-
ton and consumption were in balance
Test Desired.
Nathan R. Margold, chairman of the
Petroleum Administrative Board that
acts in an advisory capacity for 1ckes.
read the announcement of the post
ponement. as follows
Just prior to the time set for the
initiation of the hearings, it was repre-
sented to me that certain interests with
in the industry opposed to price control
had suggested to the Planning and
Coordination Committee (the leading
executives of the oil industry post
ponement of the hearings in order that
a fair test might be given to the effect
of production control and the admin
istration of other features of the code
Il am advised by the Planning and
Coordination Committee that it &C
quiesces in a postponement of the hear
ings for Is days so that within this
period the Planning and ordination
Committee may consider certain plans
and suggestions of group opposed &c
price control and make further rec
ommendation to me.
''If a definite plan based upon ths
suggestions can be worked out 1t viii
result in postponement of the hearings
for 90 additional days.
Control Continues.
"In the meantime, effective control
of production under the orders of the
administrator will be continued
In addition it is hoped that ali
elements in the industry will begin al
once serious efforts to reduce excess
stocks of gasoline. to adjust evils in
the marketing situation. to brig about
harmonious operation under the code
throughout the country. and at the
same time give due consideration to
refinery runs
I'm other words, as the matter now
stands. the Planning and Coordination
Committee, which recommended the