Salt Lake Telegram | 1921-06-26 | Page 19 | [Illegible] Stocks Not [Illegible] Large, Says Supply Man

DE E STOCKS NOT 1 OO WE LARGE SAYS I SUPPLY MAN tn int t Revival and Even Eoa od of Prosperity Pre- Pre for Oil Industry I g I t In tn J J. F F. Lucey president of ot I Man Manufacturing company ot oil well il supplies believes 11 will witness a distinct I bl a a. period of ot prosperity lie lle looks for tOI a big Improve- Improve t when he ho believes the itt t spring t it will find It nc essary to r fi It ion what will wilt be lost Jg ig he present p period of ot depres- depres t mec-t a 11 greatly Increased de- de hout the world He lie Jo jons ns those who are optimistic on oh oil IjO tI th ne net t five lve years but It Is Able 1101 he t says iy that earnings willIt will It tita d this vear year because operating haye ayo not dropped as much as 11 oil prices he situation at present Is not td idla a by recent crude ol 01 m reductions is Captain Lucey's Lucey s on ii Continuation of ot heavy pro- pro l' l seems l to bear out the fact tact that U beers are arc making some m money I ar Is coming I largely IY from drilled before prices were cut I 0 from them now Is alI al- al I I ar profit proUt to t the he producers mi- mi I of drilling II being covered beI belr be- be d I irp lr t o went vent into effect On hand producers are not doing a to apt apt-ak of f It ud Is lId ar or of wildcat at work that t crudo rl cuts have b ten n n made e ee pt JIt stocks of c o CJ Ii u.- u. oil all are not nottage large tage In Captain 0 opinion 1 account what h would d be con con- I good worl working IlIg stock This I IY lysy Y would be placed at about I 00 for tor this country The i over this total at present Is barrels Including Including- Mex- Mex i which I 19 9 not ot much more than I ri rit t j supply p 1 reign work vork has been greatly afa af- af a y di In business and I ar-I n II t almost a n minimum Work Vork I Ire Sn rn fields parallels that In the ed tales 4 with the last I years plain Lucey points O out that h the rJ did Yn not c in inh during r I fat v as much as is some other lines lineL thinks that when a II change In oil IHoltS comes It tt will ill come sudden- sudden Wh n asked whether he ho believed will III a II boom period In ra that of ot 1919 1910 and early 1920 1320 I ed that such suh is K possible lIe He lIed liea d a Hh other oilmen who have cd ad out in recent months that they ye his the time to Invest In the lIVen Uvell tubing prices have been cut any drastic reductions be- be by comparatively small I In steel prices pi Other oil equipment nt howes however p or has been cut S equipment companies think I present conditions Fur- Fur tr Q are hindered by high I Ir r J and overhead plain Lucey believes cs established l anIs will be in a stronger posh posh- I I than ever when a n revival takes because of or being able to take ad- ad the pres pros present nt to accumulate gC at low prices I