Salt Lake Telegram | 1921-09-04 | Page 37 | Better Times Declared Ahead for Oil Industry

Better 8 tt r Times r- r rI I e Declared i e 1 e d. d t l-it l 0 l I I t t. t 1 Ahead All iea d for f or l Oil 01 Industry I n d 11 V lt vr 4 v t. t i 5 C Crude id to Have Haye T Taken k n M More ie I Than h I Its II I Share of of- Readjustment Re dJ t V EW YORK yon r Sept st appointing 3 out cr o o oil haa has lad had to take ni more mono r than Its share har In the Ute worldwide read movement many authorities authorises h heio harp ro are arc of Of the opinion that that- It will ivill not 1 bo be 0 long IonG before this thIn market c comes a Into Its own Hut In other lines complete readjustment i hns s not been effected ct d. d d- d and Wall does not not look ook for tor a 11 definite upward trend in general gener business bus busi peas ness until tho the T There eore B Jno profiteers ers remaining t but but their turn Is Is coming next By nn and 1 b by they win will have hare to Join tho the olon It If they thay want to stride with progress ress teS and anti prevent prent prevent the tho other fellow from stepping flopping Into their shoos shoes In the opinion opinIon ion ion of or man many clos observers the tile biggest big rest gest profiteer ot of nil all perhaps is the tho thoi i StanIard ard Oil f which with its douR w wealth I is able atilo to to- keep finished fin fin- i oil products at nt a n high hEh level de despite do- do spite pito the tho fact that the crude oil market mar mar- ket Is still down clown moro more than GO CO per cent below the peak established during the war Moreover the tho aggregation of ot finan finan- 1 CUll cial giants who control the destinies of ottha tho us Standard tiui enterprises taking advantage of ot tWo tho trying times now racin facing tho the Independent producers in i. i various rous parts of or the country are arc buying up valuable producing oil eli prop- prop wherever possible In order tn to command Increased supplies to mea meet I the tho great worldwide demands which y promise romise to break brcak all an previous re records during 1922 So 80 c great are aro the the of I the tho Standard Oil Interests that the theun- theun un- un In Wall all street Is Ig that that the Rockefellers and their associates arc are not only the controlling factors In ri a umber number of big banks but they also have Immense Investments In a crealman great creal man many large u industrial l enterprises and other lines linea of ot business Thc They are arc oven en supposed to be large e arg-e stockholders In some omo of the grape Juice j and mineral water a er concerns which an are aro now rolling up p Immense profits as a a. result of pro pro- I Ordinarily the market begins Is ts r recovery three to sl six months beLore before betote be be- tote Lore tIle the Ia lay observer r er finds anything to In Inspire confidence and enthusiasm I This counts n-counts for the fact tad that oil shares have havo participated in the tho rally i In tn Mocks witnessed lie liens liens' recently The outlook f for i railroad Issues Is la brighter owing to the plan for settlement of oC the controversy between th the tho government govern iO ment and Arid the tho transportation lines which th the recent upward movement In the tho carrier shares within tile past wc week k or two Wall street figures that nothing more than moderate advances can b bo be looked for In most of ot the Industrial shares thares hare until there are arc definite signs signs' that in all nIl lines IInes has turned lh the corner This can hardly hs b bo be expected ex- ex peeled to take taka place until tho tutU tariff bill Is out out- of ot tho the wa way It c can canoe n nDe De oe 00 said that some of the tho bad features In tn this bill have o not ben eliminated In this this' bil have not been eliminated who make mako It apparent that It has a dot do- do t Influence on trade Advices received from Washington Indicate that tho excess profits proU IS tax wll wil Ibo repealed and some relief relict at last given In r regard gard to lo surtaxes before the tho tho I erd end of the session But ono one should not 1 lose sight of the fact act that the tIle government govern govern- mont ment will be compelled to raise nn an I enormous amount of ot mono mone money through 1 t taxation ta It naturally follows therefore therefore therefore there there- fore that t e o authorities at Washington Washing ton will have havo to raise this mone money Consequently Con Con- the he outcome cf rot the deliberations delibera on this score is awaited with a n. great reat deal of ot concern concern In both financial find and 1 business circles