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Show I ASSOCIATED PRESS NEWS SERVICE OVER LEASED WIRE, AND DAILY MARKET REPORTS, MAKES THE JOURNAL AN IDEAL PAPER FOR CACHE COUNTY FOLK VOLUME L. THE JOURNAL LOGAN, CACHE COUNTY, UTAH, THE OIL you CAN FIND A BUYER FOR WHAT YOU HAVE TO SELL IN NO BETTER WAY THAN THROUGH . THE JOURNAL WANT AD ROUTE SATURDAY, JUNE 11, 1927. NUMBER 139. CRISIS Babson Comments On The Oil Situation IS) ARSON PARK, Mass., June 11. In view of the excessive rate of oil production, with its demoralizing effect on the industry, we have asked Mr. Babson to give us his views on the oil situation. This is his statement: Peculiarities of Oil Industry and wastes today Fundamentally, the oil in- stockholders, needed tomorrow', be what may dustry Js today in no different B position than but it greatly hinders the development of new inventions and the utilization of known ones of which still will reduce costs and make for better utilization of it always has been, namely, that of unstable to its equilibrium. Owing very nature it is in a condition of unbalanced production a large part of the time. Despite the aid which geologists give in locating and estimating bil, the striking of oil and the flow- of oil after it is found are a gamble Thus production may increase at a tiemendous rate as it did in the California fields in 1923 and has recently increased in the Seminole district. The production of oil is a widely fluctuating quantity. In many commodities if the - supply should be suddenly increased a reduction of price makes bigger sales and greate Thus a balance consumption. can be maintained between supply and demand through the regulation of price. If the cost of shoes should be suddenly lowered you would probably buy a new pair of shoes rather than have the old pair cobbled. Thus the demand for shoes can be largely controlled through the price of shoes. On the other hand, the amount of oil consumed is a relatively stable quantity. The amount of gasoline sold is not so dependent upon the price of gasoline as upon the number of cars in use. The 1923 1921 .. 1925 .. 1926 . 1927 . . . . i IN UTAH.....: , 713,940,000 763,743,000 766,501,000 864,000,000 . . Based on rate of output or first four months. Based on the latest data available I estimate the daily average new supply of all petroleum for the month of May to be around 2s, 640, 000 barrels. This figure includes our own production plus imports. Now the. total quantity, of all petroleum necessary to supply current demand 1 estimate at approximately 2,530,000 barrels daily. Thee figures mean that our supply of all petroleum exceeds our demand by about 110, 000 barrels each day. The Real Losses Its an ill wind that blows nobody any good, and while the oil operators are complaining of no profits and are taking their losses, the benefits of lower gasoline prices are being passed on to the country at large. How ever, it must be admitted that the unnecessary expense of storing vast quantities of surplus oil for months or even for years will eventually fall upon the consumers and that a large over production and excessive storage is uneconomical and is wasteful. To my mind, the greatest loss which will result from a condition like the present is the lack of incentive to inventions and processes which will produce a more economical use of the crude product. Over production not only causes loss to end-gat- end-gate-r- wheel-barro- s, Mik-kels- d hog-rootin- mud-hol- e, real-esta- te he , high-jumpin- g, - nor-ma- By CHANNING POLLOCK IF YOUTH BUT KNEW..... little prig getting ready to. go to market is not ideal of boyhood and girlhood. We have enough I realize that youth little prigs, and enough market-medoubtto anyone of value the will be served, and only and alcohol wood its being served with nasty rtibblings at forbidden fruit. There is certainly .as much exercise as much joy in jaunting in swimming as in is the golden key that opens the as in jaz;z, and learning ' treasure-hous- e of the world. Nobody, I think, wants to deprive youth of its pleas- ures only to point the way to those pleasures that are least expensive and most enduring. The best the years ONE n. - one-steppi- o " REMINISCENCES OF EARLY DAYS ... 732,407,000 . . . Mr. and HYRUM, June 11 crude oils. It is very possible - resiMrs. Lorentz Peterson, of cause the considerable that a Of Hyrum for more than dents over the is present production fifty years celebrated their result of improved processes of golden which have made possible the wedding anniversary Tuesday at their home. Mr. huger gasoline content derived Peterson was born at Valy, from lower grade oils. HowDenmark, Feb. 15, 1857 and ever, so long as the supply of came to Hyrum with his parcrude oil is increased without ents in 1863. His Wife Kirstine any regard for' the market of Nielson Peterson, was born at that oil, refiners lack incentive to take full advantage of the Gadevang, Denmark, November least wasteful methods of pro30 1859. She' came to Hyrum" duction, thus causing a tremend with her mother and brothers ous loss to the country. in 1874 and was manied to The Probable Remedy Lorentz Peterson June 7, 1877 have been Many remedies at Logan, Utah. Bishop William offered for the control of crude B. Preston performed the cere- oil production and as many mony as the Endowment House have fallen by the way side. closed at at Salt Lake City Evidently Secretary Mellon bethe time. , lieves that the inexorable law of Mr. Peterson is a successful' supply and demand will have to farmer and sheep raiser and at take its toll in the industry this vessel of the first naval fast a to cruiser the fell Louis Memphis, of is one of the directors St. The of for honor present The Spirit substituting time just as it has in the past, commanded by Captain H. E. lackey (upper right) and has a crew of 34 ofis of an 35 State Lank. He knots the' of is hour, line. Hyrum It capable and as it does in most other American naval ha filled two successful misficers and 400 men. The Memphis is the flagship of Vice Admiral Guy II. Burrage, commander of lines of industry. Much was ex' sions to his native land, was a forces in European waters. pected from the Federal Oil member of the Hyrum Second Conservation Board which was some the who hg4?witnessed at ward bishopric for twenty years the prestabilization. True, formed by President Loolidge presecutions of our people in and has been one of the promifwo years ago. Recent develop- sent time the oil industry is Illinois, and had become ac- nent members of the staff of ments, how'eveV, show that this down, but it is also true that dewith Brigham Young, workers in the Logan Temple and of old law the quainted supply Board has no power to do anyThe and others of our leaders, took fir thirty-on- e to work in is its mand getting the and but years, where he that consult, thing little or ..no stock in the slander- still fills his post every week. John Squires Story cannot limit produttion and may get Government officially ous reports circulated about the Mrs. Peterson has filled' VarContinued , take an active part in any way. ahead of an controlling organicrias Mormons, and was ever ready ious positions in the Relief Sothe as far zation present "Recent conferences between to defend them. Being acquaint-- 1 Dr. Work, Secretary of the, In- sis goes. Not only will there organization , where her By JOEL RICKS ed with the president of the ciety charitable disposition has' won, terior, and representatives of come a time of lessened producUnited States, and quite a popu- many friends. Mr. and Mrs. leading oil companies make it tion, but the underlying trend lar officer, he made it his busi- Peterson have six sons and clear that sooner or later some of consumption is steadily inThe War of And End The In ness to go to Washington to three South, outlook the and Experiences long measures should be expected of creasing, daughters, all of whom were defend our cause. The result streams and is the oil no market inevitably N those days there were which will curb the drilling of in the bridges are married except the younga sealed dispatch, handed new wells and restrict the sup- toward a higher level of prices. at that time, so that when we came to one of these, all was son. All are respected and est high deto be him the The advent and edvelopment by president ply more nearly in accordance successful 'citzens in the comhands would pile into the water, and I would be left on livered to General Johnston. with the demand. Such action, of the automobile created trefront in which they live. the in munities were While with ready making the foot middle tne they pig It the of being however, must come from the mendous demands for gasoline. I rear. Among the guests who gathVinter, writh no chance to reach oil industry itself. The most This demand is still growing. to ford the stream, I was alsp making ready in the ered Tuesday afternoon to pay Kane the Government can be expect-- 1 We are just now entering an will state that all hands had to walk most of the way. My the army, from the east, sailto the worthy couple too respects took southern the commercial of route, the aviation e and take a half hitch ed to do is to take a liberal at- -, era was to climb onto the rear trick were all the sons with their ing around Cape Horn and up titude in so far as the anti-- j development of which may be on the so that and wives children, and all the to across the could thence she dreams. California, to think that digest trust laws are concerned. Cali-- 1 beyond our greatest when the wagon moved forward ed with their husbands to to in desert lie arrived daughters a will Utah, need another This from bottle, open glass big fornia, incidentally, which is be anything the sow, her majesty, The children. sons live in and of Lake on 24th Salt the stove lid. City dominated by big companies, for gasoline which may even moving backwards, and dang- a There exThe sick are Mrs. rooms and two over-tosmall p Hyrum. was 1858, automobile daughters market. February thg has for some time practiced t ling by the hind leg, squealing curtailment of drilling to regu- It was only a few years ago that blue murder in all languages, in Udalls house. They emptied hausted. For two weeks he was T, S, Browming of Ogden ; Mrs. late production. Here is the pro- the oil interests began to rea- until her head got under water the small one and turned it over, the guest of Brigham Young. Alma Rasmussen of Salt Lake bable remedy, and the oil men lize the possibilities of fuel oil and mud. Udall always knetv to' Mother. He took me in hand When nursed to health he was City and Mrs. David Gustaveson manCalifornia. by a good bunch of of , Los Angeles, appear to becoming to a com- for operating our industries and what was up in the rear as soon and introduced me to hisgarden-tool- escorted selected men who knew the Other guests were Mrs. Hughes mon point of view m respect to heating our homes. In most of as my mate made her first ure pile, etc; saying, Young man passes, and how to buck the of Salt Lake City, mother of our cities today but a small per control of new drilling. squeal but was too busy with will homes of have to earn wliat you snow, to Johnstons Army head- Mrs. Jessie Peterson, Mr. John heated the cent are Thirty tp forty years ago the his jaded team to attend to my you entire oil business was shot to by oil, and experts state that w e case. Sometimes when his team eat, as I dont allow any drones quarters, There he delivered his P. Nielson, only brother of to the General, which Mrs. Lorentz Peterson, his wife pieces and the producers were shall live to see the time when could not pull up the bank, or around here. It is root, hog, or message whole state of af- and would the of mother die! See. cent homes changed If our your pe ninety no then was making money. It daughter, Mrs. Hans it became necessary turn stuck, got have I fairs. would to me. .be over will or (Mr. might heated Squires, by oil, gas, you of Logan, Mrs. Hans that Mr. Rockefeller took a as me to let go of the rope, for something out of stated that Johnston had Kane Anderson, Mrs. Thompson and firm grasp of the situation, re- electricity. The use of oil for her nibs be standing on soon make as a spy and threaten- Mr. and Mrs. C. F." Olsen of habilitated the industry and fuel in industrial plants has her head in three or more you. I said, I believe you would arrested shoot ed to him, when he reachI I all care about know But but to to, started. it fair is childbrought about consolidations of barely of water, paw'ing gravel feet ed Kane challenged Hyium. Eighteen grand That or assume camp. that all of the uses for and mud, with considerable en- hogs which ultimately led to the forren were present. You saucy young rascal, do him to a duel, and that peace mation of the Standard Oil oil are now known? May not thusiasm. The rooms were tastefully was finally brought about by uses discovered other be from mean to insinuate? RockeMr. you color Company. Although A golden decorated. I will now cose this incident Well I dont know what youi; the intercessions of the Gover- scheme feller. has been greatly abused, year to year, of which we do by saying that we finally arrivused being throughout. nor Chief who were and Justice, his command of the situation not dream today? I believe they ed at our destination, but not big word stands for, but I do Golden bells were used on the saved the industry. More than will, and that is one reason until that pig had sampled know that) you would mighty w'ith the army.) room where a sumptuous dining ever before, the bil industry to- why I believe in the future of every weed, During all of this time we banquet was served on a table old shoe, soon make a corpse out of me if oil. I everything you told me to had never heard one word from laid with ,Iri.4h damask , linen day needs a Rockefeller to combottle, can, rag and manure pile do.did There was an immediate father, since he had left us for mand the situation, effect neces between Salt Lake City, and our maA Colorado us and I Echq canyon. There were no brought from England for the inventors between consolidations to seperation and sary destination, looking into every soon Streamers dropped humidi-fyingtmails running during those tim- occasion. chine for and some cooling put straighten out both the produccorrall and yard, and breaking bells on the chanfrom golden es. Mother often said to us tion and sale of oil. air in buildings uses the worlds record for speed and hind me. delier beautiful to a w'edding Another an elecfric fah to draw air The Future. day gone on the shortest! The coming of Johnsons children, I believe that fundamentally through a box filled with sheets notice. I found her to be an ex- - j Army, was the cause of all this and no word from Father A One cake with golden trimmings. Golden candle sticks and candles the oil industry is as sound an of fabric that are kept wet. cellent- rustler when given a trouble. The news had been afternoon in the month of June and golden bells and green I room walked our into little industry as we .have today. Approximately one third of free hand, always hungry and pretty well circulated through and said,1 will be sprays completedthe setting. Mother, Dad General business is in a healthy the developed electrical energy never satisfied. She was bless- the natron as to the intentions During the repast ice' cream condition, the Babsonchart re- of Sweeden is controlled by the ed with a good strong stomach of the army and as to the move- here tonight. Why do you think so, what was served in which was the l. gistering 7 per cent above government and two thirds by as she never threw up anything ments of, the Mormons. his fact should help in its private organizations. Colonel Kane, an army officer Continued on Pace Eleven I she swallowed, and I am inclin (Continued on Pace Eleven! , , 557,531,000 . Gifts. w-a-s amount of machinery in operation determines the lubricating oils consumed, and the weather determines the fuel oil burned. Crude oil Production in U. S. No. of Barrels 1922 ... Prominent Hyrum Residents Celebrate Their Fiftieth Year of Married Life Recipients of Many Beautiful Playwright and Producer (Copyright, 1927, Famous Featnre Syndicate, Inc.) J- - give us is a new, and I believe a more accurate power of and pictures and music and architecture and the fascinappraisal. What is most worth while in life? Appre- ating wonders of bee and flower.' Last night, while the sea spilled upon the beach alciation of simple things; the capacity to understand and most at my feet, I was kept awake by a rowdy crowd of t; enjoy them, and not to want the other kind; spoiled and sated youngsters finding' cheap and a vigorous, healthy body and mind; independence titilation in maudlin movement to the sour the independence forfeited by thriftlessness or misbe- notes of a raucous saxophone. I wondered whether their havior; work well done; tranquility, and, above all other intoxication would endure as pleasantly in their memorI know what pleasure is. said ies as an adolescent drunkenness of mine provided by things, knowledge. Robert Louis Stevenson, for I have done good work. head wind and a choppy, salt sea spraying over a sturdy I know how to drain the last drop of delight from idle- boat. I wondered whether, in later years, they would ness, too, for I' have read enough to understand poetry miss the treasures delivered to me through youthful in self-respec- bloom-brushi- ng terest in books and pictures. I wondered whether "necking was a satisfactory substitute for the quiet pressure of a hand that has been ready for your hand thirty years or, good training for the appreciation of that pressure. f Experience is the best teacher, and perhaps it is useless to say these things to youth. But, Oh, my clears, if you could know at fifteen what I have learned at' fifty how much more pure joy there is in delving than in dancing, in learning than, in loitering, how many primroses grow along the straight and narrow path, we should all save onrudyp so many wasted years and tears, |