Show - - - 1 - - - - - - - - - r r I - - do — i ' ' s r I - - - 1 ' s1 8S - V ' - - - ' AN ZOONOMIC GAUGI Follow The Bait Lake Tribune's daily Market page and Sunday Susinass too Sion for coverage of markets and for tha story of the oconocnio develop- continuing Went of the intermountain west ' Construction Home ' : - - ' ' 2 2 i':--'- A ' :':- ' s: I 1 : $'''': I :':::i3'-:ioi-- 4 1 t y: ''- i 4 :: ' y ! t ' 1 ':''' 5t-S- — '10' $3 Price Puts Oil Industry In Tight Spot :Itrr!!!ik44!3-rgrrII- ' ' 3 HOUSTON Tex Oct 2 UM— The southwest's first 113 oil" since World War I has the oil industry in a tight spot - 1k:: & Resistance to the inew 35c per barrel hike in crude oil prices 14 is firm but the way is being I :':'' ' left open for general acceptance 1J-::Only a few companies have met :: 4 the hike announced Tuesday by k '''1 :)? t :'' :—! 'St '264 trV4 ::E:::'::::: It 'S::c 7'' 1 Many oilmen :: '::''':-' Phillips petroleum 41c:4fesl 1:- " ' 7ii!: 4ti'44:6CiirIKt 4"s::vIliet i 4SK4e a particularly major c o m pan y d4 ' ' ar 41i:'':::itrf:": n ::'' '" ' i 0 spokesmen termed the hike as in''''''‘':N il ''k4'''' k:-': : os '!ro4111 ''1 k::: ": :H ' t': 4' I (''''': !ijoeik::::Zklf: flationary and unnecessary A —iwte--- - N -t t A Point to Statistics 1 1 'e" i pftg (kk1t 1 I If i i'vti V i t' 411'trit: 17 7° ' a L I '"44i f Lo4 They point to bureau of mines ‘:ri ''"" : '164444444 lit'' I! figures which indicate the post: mit war increase in demand for peb4a troleum products is on the de: lit cline being only 33 sz ' in July (over July last year) as comA real old time oil well rig is shown-hera reminder that the search pared with 67 the first six for oil in Utah has been under way for decades Back in 1901 the months of 1948 Green river area attracted attention from Utalms Advocates of the increases particularly the independent operators claim the boost is long overdue and will insure even greater I ' ':::iif:---i--- ''' I : ::i 11 1 - I ::'''-'':'"' - :0::::::1-:-i-:'-"'?::''i -- tlits:'''''::-''iii:tCS:::41?$:L"1- ti ' ''' : 0 zi 1 '''' - —1-“- e- - 7:4 ' :: t -i V:si-1-::- "' ''':'' ' :: : ''' '4fP -- -- 7 It- '11-'w- L '''""Z6-"'J44"1itsk 4 pa - s -- 4A s e - Utah's Earbr Search for Oil Emphasizes Latest Gains tion was directed toward the VerAlmost half a century ago in nal area where William O'Neill of 1900 and 1901 to be exact Utah Vernal led early investigation was in the throes of a search for after "at least 1000 barrels of oil oil that is petroleum with dll it from a seepage near the line" had been stored yields rather than the lubricating A 1901 editorial reveals the genoil the presence of which had been known for years Recent bring in eral lack of knowledge of oil of commercial flows of petroleum geology and of variation in local in Utah makes interesting some of conditions: 1the old sidelights on To Match California events and methods employelt "When it becomes generally Symbolic of the primitive meth- ods and theories of the early days known that the same conditions in Utah is the accompanying pic- (as in California) exist in Utah in ture of one of the first if not the Wyoming and that the area of oil first oil drilling rig employed in bearing rocks are as great we 'Utah It was operated in the believe that the oil of this section Green River area by the original will be brought as prominently San Rafael Oil Co probably the before the public as are the fields first incorporated oil seeking conor Texas and cern in the state lieve that in due time Utah will Started in 1901 become famous the world over Early in 1901 the Greenriver Utah will become famous the area attracted the attention of the world over for its production of early organized search for petro- petroleum and its leum in Utah A spring a few miles Optimistic and premature! the late P J Incidenfally from the town of dreenriver had been yielding a "greasy" sub- Quealy of Kemmerer coal fame in stance and criticism of early meth- Wyoming was turning his attenoda included such published state- tion to subsequently productive ments as "parties from Salt Lake oil areas- in Wyoming City spent $2000 in sinking a shaft Used in Locomotive 60 feet deep and would have conOther contemporary bits of tinued on in this foolish manner but the flow of gas was so strong news were the going east of the that they were driven out and first oil burning locomotive of the the work has not been resumed" Santa Fe railroad and that "DanMr Simon Bamberger of Salt iel Guggenheim chairman of the Lake drilled a hole near the track board of the American Smelting of the (Rio Grande Western) rail- and Refining Co has had some road on the east side of the river exhaustive tests made with oil 1040 feet deep and shut the well fuel at the company's refining down as the auger was penetrat- plant at Perth Amboy N J" The first mention of the Escaing the stratum of gypsum" Of interest is a description of lante area (scene of recently reWhat one saw in winter: ported oil flow from close to 9000 '- ft? in depth) was made in FebruReports Oil Signs ary 1902: "When the river is covered with "One of the richest oil fields in ice the gas forms bubbles in it Utah lies near Silver Falls canyon for miles from a geological break some 50 miles east of Escalante" and can be ignited by anyone with Call 'Convention a Match and it will flash as high as four feet and remain burning By May 1902 the "oil interests" " "Also of Utah and "investors" called tofor a minute or more almost every week we have parties gether an "oil convention" at Price from all over the country investi- Some prominent names were apgating the field and all the re- pended to the invitation includports have been favorable without ing J W Loofbourow A E Giba single exception The oil is there son M P Braffet Arthur J Lee and it comes from below and it is and J R Sharp The invitation brought to the surface by an im- said in part: mense gas pressure Then after a "Whereas capital is now befew days they return interested in the bil fields and coming put 'monuments up all ' over the coun- of Utah' and whereas there is no try and leave with the promise general source from which inforof returning with machinery to mation concerning the oil fields drill to oil or bust and that is the may be obtained and whereas last of them We know that the there is some doubt in the minds oil will find ifs man and when of capitalists ea to a proper prothe man cornea he will be happy" tection of them in the investment of their capital in petroleum lo-Early Boosters cations and whereas it appears Names in the news of the early that the interests of Utah can best Greenriver explorations included be served by a meeting of all the W H Irvine F A Virtue H W parties who have interest in the Horne Thomas F Kearns V 'P development of the oil fields of Strange R J Evans O S Camp! this state to discuss the foregoing bell David Keith and A L proposition and formulate plans Thomas looking to the organization of a During the same period atten- - bureau of information and where- Utah-Colora- 4 ' half-centu- - oil-beari- ng 1 1 - - - i k - PI ' ' 1 Anico Representatives are Anico's First Coinsideration 'SELECTED FOR FITNESS e SUCCESS BUILT INTO LIFE CAREERS e In 1945 Anico had one member of the Million Dollar Round Table In 1948 eleven are qualifying with ânother five near the mark EARLY - Now OVER A BILLION $1670000000 - INSURANCE IN FORCE District Manager opening—offering superior contract—excellent opportunity for qualified man Must be 'experienced and well established in Salt Lake City Write 'or call Layton E Baldwin Mgr ‘ i o Ng - i t Americalt iltitionat - - : - - t r 1314 ' CONT'L NAT'L BANK SALT LAKE CITY UTAH 34090 5086 2327 1906 6690 1450 971 13173 23090 4190 2480 2104 6640 1340 Crude production for the week ending Sept 25 staged a good rally despite continuation of west coast refinery strikes American Petroleum institute announced production Jumped 48750 barrels to a'daily average of 5343100 barrels com- er pared with 5196000 a year ear-Hto the strike how- Prior ever a new all-tihigh of 5531450 barrels daily had been established Reduction Opposed The Independent Petroleum Association of America this week branded as "defeatist in character" a proposal the nation's crude production be reduced 1000000 barrels daily so as to create an excess producing capacity for emergency use - geo- - - i - tad° Montana 'tdeatSodtpatoo June-July-Aug- Sb ErntrerS sqlee: Zinc Total U 8 - - '2870 47092 2820 4090 3556 7130 4370 1430 3124 1180 14524 4214 51221 3896 3928 3443 7014 4320 1400 3338 1080 15373 7084 New Mexico Washington Eastern states Central states - 1 - iI - Utah Arizona Colorado " ' (1f s s 2 ' EliagO VI ' James L Neville of the Robert general agency of the Aetna Life Insurance Co Salt Lake City is now at the company s home office in Hartford Conn attending a special training 'course This course of five weeks duration includes intensive study of various forms of life and accident insurance contracts and methods of providing insurance protection to fit varied situations and Techeconomic circumstances niques of modern life insurance salesmanship are discussed and practiced Mr Neville was educated at Judge Memorial high school and the University of Utah He will return to Salt Lake City shortly after the close or the course on i - f - t ' -- rr :'e ' ' A :: t ig r' No4 4 '' lifte the i Telogromll I ! - '' s i C' ' i 1 c '' - ll I1 i 4 - The women rs pages are so complete z 1 '1 Orlt - 1 t -- ADVERTISEMENTblD r k Y t - ' I 1 s' t - Telegram - tk )UR - tt- II ok '' - ' ' - ' - - And of course - 4- A a11 ' it i - - I - : - - 1 i !z ' I' - - the household and meal plannng articles the features on baby care and personal health the latest in fashion news and many other articles especially for women are only a few of the reasons l like The ' ' cf - 14 7) FOR MANY MANY REASONS! - i e ' a 44 :il - h - 4 4 z f - 4- k s4 I - At - ' 1 - - f"' V ' itt : - : 1 i 0 4 ) - Alp ' -- lifte 1I N anti 14 whet - - s -' 'Mahn Takes Course In Life Insurance e - i 4 swel - i- S disbursements in 1t47 13'500000 gallons daily I - — I the shopping information and ad veitisements are a great help to m'o In'stretching the family budget dur ing these days of high costs ' ' ' : ' t 1111 - - - ' t - - - ' - ' - J t I ' JOIN THE THOUSANDS OF SALT LAKE - marl - who daily read The Telegram You get ALL the news plus timely and interesting &aturestbat make The Telegram a must with your familtf for evening news-- paper enjoyment' - - r - - t ' - - - t eel i It - il 1161 i ok2 ' : - 3-1511 IDI tvreiszta - - r s f FOR HOME DELIVERY - - - - 1 -- DIAL - t Sadelltd'e eastaTO THE - ' - - -- 4 - - - - a - r - ' 1 Two other wells in the area adjacent to Bear River and four to five miles west of Brigham City have already been completed with the third one "mudded in" to prevent escape of gas until it is reidy to be connected with lines to customer use said Mr Davis interested spectators Highly the well now being at Saturday drilled were Aaron W Tracy chairman of the state publicity and industrial development commission C W Merrill Brigham City chairman of the Box Elder Chamber of Commerce new industries committee and John W Howard chairman of the chamber roads committee railroads increased between 11 and 15 among the industrial divisions for the three-mont- h period The heat light and power group but this of commerce office of business cut dividend pairments 3 was balanced by a 4 increase by economics reported gas companies For the three-mont- h period theWithin the manufacturing diended Aug 31 dividends rose-1which advanced 12 all vision account These figures take into food and transsubdivisions except dividend orAly publicly reported equipment increased bepayments Which account for be- portation 7 tween Dividends in and 21 tween 60 and 65 of all diviThe transportation-about 2 paid dends Finance manufacturing and food equipment group more than doubled the peincreased by almost 70 since riod of last year mainly due to 1141 to a consumption averaging dividends by firms that made no 848 as the town of Price is the gra phical center of the oil district of Mal: Therefore the milder-signe- d Advice from The do hereby request that all and have that companies parties WALL STREET JOURNAL any interest in the development of the oil fields of Utah meet in A young business man tells this story: Price in convention to discuss our presi- "One day Mr H-- --such measures as will insure safety discuss for sent me dent to company to the investment of capital in the was surprised at this because I policy l of oil fields of the development Later I Utah: to protest original loca- I am not a seniorH- executive had gained tiohs of claims and formulate plans learned that Mr --for the organization of a bureau of the impression that I had considerable information on current business coninformation" ditions If that is true it must be beBorn Too Soon cause I read The Wall Street Journal ' "Born 50 years too soon" little regularly" did these men visualize the mil- This story is typical Every day l ions oollars the great depths more men discover that The Wall and the mammoth equipment that Street Journal contains an amazing would be involved during the next amount of accurate half century of search in !Utah At information Because the reports in the time showings of oil at 350 ft Wall StreetJournal come to you were bailed with enthusiasm The DAILY the fastest possible depths of over 1000 ft considered warning ofyou getnew trend that may Fly in great and rotary drilling long affect your income or enable you to the future win advancement You get the facts Space does not permit quoting some of the oil geology of Utah in time to protect your interests or to optheories that appeared at the turn seize quickly a new profitemakblg reliof the century Many remember a portunity You are promptly and new prominent college professor who ably informed on every majorPrices Insisted "there is no Utah" development relating to:Taxes and the equally positive profess& Tariffs Industries Production Trends who said the pessimistic one was Commodities Securities Marketing "just crazy" Be that as it may Consumer Buying Labor World conceptions of Utah oil geology Trade Finance and New Legislation have been altered a good many The Wall Street Journal is the comtimes even during the past few plete business DAILY Has largest years staff of writers on business and finance The only business paper served by all Tide Ebbed Away four big press association& It costa $20 Little by little during the latter a year but you can get a Trial Subpart of 1902 oil news in 'Utah scription for 3 months for $6 (in US becaine scarcer and scarcer and by Possessions) Just tear out this ad 3 almost none was pub- and and attach check for $6 and mail Or seems as lished It though bitter ' t ua to bill you Address: disappointment over the punctured tellPublished daily right on the Pacific "boom" was reflected in the absence of comment sit to future pos- Coast to bring you vital business and sibilities for commercial oil pro- Washington news immediately Address: Pacific Coast Edition The Wall duction in 'Utah The next surge in expjoration Street Journal 415 Bush Street San for oil in Utah came—but or 108 W 6th Street that is Francisco 8 ' ELT-1- 0-3 another story Los Anzeles 140 I I area Pub licla reported cash dividend payments of corporations In the United States during August increased 11 over August 1947 to a total of $207800 the department - t swi CoTporation Dividends Climb 8 in U S During August i - BLDG City Drilling the well was M L Davis and his assistant Dave Kent Tremonton With coinpletion of a fourth well in the near future they asserted there would be enough quality fuel and Industrial gas to adequately service the - Arizona Oct BRIGHAM CITY Oct 2—Pros- pects of commercial and industrial gas supplies for Brigham City and Box Elder county communities were being discussed Saturday as drillers neared completion of the third of four contemplated industrial gas wells west of Brigham - mFlorian Crude Output Rallies ' The week starts Sunday 'the' survey showed also has ' Industrial Use Of Gas Seen In Box' Elder ' mid-190- s'111SURANCE--COMPAN- 70932 sine 2920 30090 4490 3150 5918 '2911 on Anico has the field program that builds' men up and permits them to attain the success they want - -- oUh 6 75561 3696 3 1750 4900 3410 6927 3111 Advs e Salt Lake City retail merchants are slanting Prevention" "Fire with wtek on a new and cooperation practical angle As members of Coal Heating Service of Salt Lake City Inc they urge coal users to take precautions against two of the principal causes of fire—faillty heating equipment and neglected chimneys According to G W Wild president of the service better heating efficiency at lower cost and added safety result from heating systems retained in good working condition "Periodic servicing is just as essential to a home heating system as it is to an automobile" said Mr Wild Inspection of heating systems once a year would reveal fire hazards just as automobile inspection reveals hazards to driving safety he pointed out Metals Output In Utah Dips vi SL Early Heating coalUnit Check mid-Septemb- er - i AIDEDTO subsidiary summarized the thoughts of those opposed to the hike by saying "We do not intend to increase our prices unless we are forced to do so by a change in competitive conditions" i Phillips' posting sets a high of $3 a barrel for the areas $325 for the Texas gulf coast $287 for west Texas sour oil $3 for west Texas Ellenburger - $292 for semisweet For Wavy Fuel DIemand Oct 2 (A— mid-Augu- st 1c Hines H Baker president of Humble Oil a Standard of Jersey Coal Dealers in —With the heavy gasoline consuming season drawing to a close oil companies are preparing to tween and meet a record demand for fuel On Sept' 15 the index of â1lz1 this coming winter J M Vinprices received by farmers stood cent manager Prenatal' 0'11 Co at 230 of the 1909-1- 4 average and Utah chai mat1 of the Rocky a Mountain Oil Jndustry InformaThis compared with 286 tion committee said Saturday year ago and a record of 307 in January of this year "Oil compani t everywhere have Prices paid by farmers for broken all pro1uction records to things they by also declined meet the tuip alleled demand for prices petroleum proldiacts this year and slightly The index of 1909-14 of the paid was 250 circumstances barring average compared with 251 continue to do so this winter" a month earlier 238 a year will Vincent said set MrDomestic ago and a second of 251 fu I oil demands this in August year are estim ted at more than double what thy were before the war and 20 higher than they were last year he said citing a recent nation v 'de survey This means that we re consuming fuel oil at an average of 41000000 gallons every 'day of the year he said he addecj Consumption of Production of copper lead and all petroleum products average zinc in Utah declined during July close to 250OQO000 gallons per day according to the U S bureau of Installations of oil burners for mines central heatin in homes and ave skyrocketed Total U S output of lead and small stores zinc dipped sharply because of since the end of the war Mr pointe ii out adding that strike conditions and closing of Vcent the in increase burners up to mines in the central states the early pa t of this year Comparison of production of the amounted to about 55 compared three metals f r o m principal with 1941 Oil purning units now s9urces in June and July in short in use amopnt to more than 3700- tons of metal: 000 The domestic demand for keroJune July Copper ' -- general (In the southwest a 25c per barrel increase in crude postings normally leads to a lc per gallon boost in retail gasoline prices) Resistance to the purchase price boosts becomes difficult when producers anxious to receive the highest prices possible begin to break from regular customers and - - we ry i s do I - Fhs Gifd Oil The agriculture department reported Saturday- that farm prices declined one percent be- production of domestic oil The situation was the same last year when- Sun Oil astounded the Industry with a sudden 50c per barrel increase That was Nov 28 A feW small companies met the boost immediately Not until Dec 8 did the major companies follow Total U S in rolling snowball fashion Utah Arizona Hike Became- General Montana It was another 10 days before Nevada New Mexico Eastern states an increase of per gallon litissourl in retail gasoline prices became Ismid - By OBSERVER Farm Price Dip Of 1 Noted In IL S Report - - nilding Activities in á Growing West IP WASHINGT011- ' - 0 U N ' - THE SALT LAKE TRIBUNE Stinday October 3 1948 - - 1 i 4 I 1 A I S - r |