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Show --BRISK ACTIVITY lfJ ! OiL IS MmGIPATED; Upward Movement in Se-j curities Gathers Momen- turn From Day to Day. J Titanic Drilling Operations! Planned to Make 1919 Record Breaker. Oil inen of Utnh point to the- extraordinary extraordi-nary interc-st that in bclnp: takn in ull I-Hi't.s ot tho i."nilf-'l Htai:s in tlx- !op-iii-:i:t of tiio oil fit-Ms ;i3 mi iu(Ju:ation t'rif.t i:-jini'Ji:lVi.lo iu:livity may 1: '-yc.'-U-.d soon within ihu state iri this hranch of the iiiflu.Ury. Tlc fmuro of the oil biisirniSH is outliii -.1 in tho t'ol lowing arLirjle takr-n from th'j .c-,vr 'I'utk InvL-Lor ami Tniih r: "Iriiit'jad of olowiui; ni'. i:pvy rd movrn-er't In seasoned oil sc-curitloi Ki-ii-(:rn new tnoiTicntum uay after d;i y, and uo'.v yiOi:iisis to continue iiajufiiiitfly. So tLroiiK1 a.f.d widespread almost '(jrld-i(!o '(jrld-i(!o ha,-i the Loom tecom-', that to the ras-.:al oby rer it must appoar us though all previous markt-t '.jrice rcrords have hecn iiurpassed. Rut f-ur-, is not the case. In fact, a cornparision ot prices will snow that the majority f market reoordd rp-pontJy rp-pontJy aro still far VjcIow those of tho od fcoom of Tfl5-lfl7. "Scci.rities liU'e the Atlantic. I'f-ti'oloum, xvhich n ached in lPltMl'1.7 a hi-:h market ; jjrit'G of S;.r,0, at present ai e riuoted aroiiiid $1 : J'erritt Oil, whif.:h readied in 1 hn forc'oir, years a price of ",r), is sellir.ff for Mitlwt Hefininc,-, whieh i wjrliud a price ol is now seihntf around 5175. Rich Discoveries. "And, an tho prices of 1916-1917 were n5Hl on tremendous oil" outputs of ItiiG- U'17 of oS,71m,KS and Co5.-'! lo.tii-l barrels, reHpentively, it is Interesting to note that the 1IMS production was 34,1,00,000 barrels, and the 19 i'j total jiromisea to approacn the 400,000,000- barrel mark. "As the summer progresses, It is becoming1 be-coming1 more apparent that 101 9 will go down In history as the greatest year in the annals ot oildom. Titanic drilling plans, already on or reaching completion, promiso that this RL.mmor will witness operations on a scale and of an intensity heretofore unheard of even in the remarkable remark-able history of the oil industry. . "StatenientH issued by experts that the demand for pc trole u m arid i ts produ ts exceeds the isiH supply have stimulated thft efforts of producers as never before. "The tremendously rich oil discoveries and amaaug fortunes made recently in Texas, Wyoming, Oklahoma. Kansas and California have added fuel to the Incentive Incen-tive for developing new pi-oduction. AVhilo the drilling race in Texas has received piore publicity and, therefore, attracted greater intf rest, Wyoming, Oklahoma, Kansas and Louisiana are staging" or about to stacre drilling laces which may rival developments in Hanger, Texas. Phenomenal Increase. "The phenomenal increase !n the vise of automobiles, '..000,000 now in operation as against 1.500,000 in 5 914, accounts in a large measure lor the rapidly mounting" oil dema rid. The rapidly increasing oil demand, however, is not confined to automobiles auto-mobiles alone. For instance, in connection connec-tion with the fuel oil demand of the merchant mer-chant mrrine, Olnirnian Hurley of the X'n i ted States shipping board recently said : " 'Just wa.it until we really get into the business of consuming" oil as a substitute sub-stitute for coal. "We will keep thousands of wells doing nothing but supplying our merchant fleet with liquid fuel. We have scores of ships which use oil exclusively, and we expect to convert many of the older vessels into oil burners.' "Is it any wonder that oil authorities eo a still more wonderful future for the oil industry?" |