Evening star., 1933-07-31
JOHNSON OIL CODE
IS NEARLY READY
Can Expect Teagle's Support
if Moffett Is Made Chief
of Industry.
Nv the Associated Press.

BY the Associated Press.
The oil industry is to find out by
tonight just how Hugh S. Johnson, re-
covery administrator, thinks it should
regulate production, increase pay and
shorten hours.
And if he does propose a plan that
would put James A. Moffett in as ad-
ministrator of the oil industry, he can
look for support promised by Walter
c. Teagle, president of the Standard OIL
Co. of New Jersey.
Petroleum producers and refiners had
been unable to agree on a code of fair
competition under the recovery act. so
johnson took the job over, directing
his assistants to draw one. 1t is to be
presented tonight to the disputing in
dustry.
MofYett Mentioned for Job.
Just one phase of oils broad differ
ences today found Moffett mentioned as
the man who would work either under
johnson or in the Interior Department
under Secretary Ickes, to carry out the
final plan.
Moffett, asserting his views were mot
In accord" with those OF New Jersey
Standard officials, last week resigned
rs vice president of that company so he
OF the committee that advises johnson.
Then came reports that John D.
Rockefeller, jr., who usually lets his
companies settle their own policies,
might move to line New Jersey Stand
ard behind the oil stabilization pro-
gram.
That was followed last night by a
statement from Teagle, saying:
Il would like the public to know
L.. ~ Ta~
sey) Is anxious to do all in its power
to carry out the policies of President
Roosevelt which seek to lift us out Of
this depression.
Must Do Our Part.
For more than a year now I have
been engaged in an attempt to per-
suade employers that We must do our
part in spreading employment. But
many of the difficulties encountered
heretofore have now been surmounted
by the Presidents plan embodied in
the National Recovery Administration.
"As chairman of the Advisory Board
of the Industrial Advisory Committee,
I have had an opportunity to see at
first hand the splendid way in which
Gen. johnson Is tackling the extraor-
0inary problems of the hour.
1T seems to me that it behooves
every company to make Whatever sac
rifices are necessary to bring about
the success of the national recovery
plan. This has been and always will
be the spirit of the Standard Oil Co.
New Jersey.
Now, with respect to the resignation
of James A. Moffett as senior vice pres
ident of our company on Friday last.
This is a matter of great regret to us
all in the Standard Oil Co. New Jer-
sey). but we realize that in times like
these a request to any of our men to
serve the Government is equivalent to a
command.
Tried to Dissuade Him.
"Our regard for Mr. Moffett is evi-
denced by the fact that when, on June
6 last, he wrote me submitting his res
ignation, my associates and I endeavored
to dissuade him from taking such
course.
Last week, however, when Mr.. Moi
fett was invited to become member OF
the Industrial Advisory Board, it seemed
to me that the public might mlsunder-
stand the presence, on a board OF only
nine members, of two officials OF the
same company, and this led to the &C
ceptance of Mr. Moffett's resignation.
IF, as reported to the press today,
Mr.. Moffett is to become the admins
traitor of the oil industry on behalf OF
the Government, he can be assured OF
the full cooperation and cordial sup
port of the Standard Oil Co. New Jer-
sew, as well as those of us who have
been personally associated with him In
the past"