Show I OIL STRY Will IMPROVE NEXT I YEAR I So Declares Babson in Analysis of Interest Interest to Investors s j 1 SL Y HILLS Mass MaM au W W t reo re- recent Nov 23 Beget Hogel cent study of ot the th on summarIzed d In a statement issued I today loday Js is ot of unusual interest which has been public c In in tempted b 1 bY the recent Mr nt v ln low OW priceS Ol or Oil oU stocks Overproduction Is tile the out standing or of the oil the lar world for tor To To Mr Babson of the traced traced tho the m ma may bo be b beset the oil In- In troubles The high fligh toda today In 1923 and androe of oil production mark o reached In the roe for all tunic as S September B 8 a hen he week we ending production WS as th daily last t seek k w For or the tho barrels fl bar- bar lear ear this figure I Consumption of ot etude Cl ude oil 01 1 and ln has to Increase gasoline ed by but bat It it has nas been C ii gush Bush pi from spectacUlar wells in the Lo Lot Angeles An eles basin consumption er has c ea- ea tom ot or i h t ear i figure Indicated Late ate barrels barre barreto to the present of or 7 barrels a new JW high highmark hie mark demand Jo lo 10 meet this unusual to to prevent ent a possible famine I the soil oil industry had Imd undertaken r C dt dt hung program Inci 11 1 to and nd pl plAnned I lio use o of eries ej and b more b-more more o e acl the 1 known inon n us liS lei more gasoline from ironi crude trude rude oil An Au unlooked foi OJ I ot or overdid these Plans A 1 iv I n I of close billing Into Inlo Cn cu gu her hr sinus ono One of or Illch IS as 1 1100 feet ft thick threw ftc Ile l o lull 1 1 of f this gusher cusher pool on the let ml all an ct at 0 o ice Tiis TI T ls plO plO- pio added to that o 0 two to new I In fn Oklahoma ia a-ia t MO 0 others I n Te fe Texis s 's s v erO erectile the the ause lause or of o the ut i IP II th the crudo crude oil ml Luck Luck- Luckily Luckily ily lIy for tor the oil business ss jut juit Ut at tt this I time line Mexican production was tas on onI ontJe I Ue tJ-e decline or a worse ors orse or of affairs aft lr might hale hite resu resumed t d dI I tl the crude I 11 0 O overproduction t r of tad and refined products caused a 1 I fic-I se- se ere BC tere cut In iii crua oil II n n all the fields fieldg MId Co 33 per percent percent cent ent 6 9 pr pcr cent cra fell rell 2 2 00 n I barrel In February ry to 1 10 Pennsylvania drop drop- dropped LIed ped from SI 4 00 to 1 12 2 loan lariel 11 Gasoline prices s r fur lr a while wh con con- con Linued di high In August GO Gornor ol ot na- na Da Dakota kota l forced A t flom mom 36 26 to 10 1 II h c daIs cinis a galon ea lun In that state I This his drastic cut started a wa e Wa ya e of price CUlt cuti ng m e g i as wa-a Mid nd fut fut- tul j ther c etude elude ude oil price pric I i which haie ha aL not et ct quite reached tho the These Thes In truth rud and casolino r rici ici c hJ e h e cut deeply Into nto t the e earnings o of II cil Independents and anci hike alike There Phere has aid silI III I Le Le house houe hous e cle ad md r rt- rt TV lion along man many lne Ine In tile 1110 i itt ong one as vell w ll 4 dR 11 the 11 Lak It coin coin- com panic Poll 1011 itS Is of pf Io long l n tt alli b bo be chang chane ii n Li JIM ot of I aad m Ui e looked 1 fo for H wo or ot lan lan-dard un- un well seiI ell be b eI I lard arU connections connections- may molY Yo j C-j e- e c Man iIan a t I nd refiner will be b tor d ou or of business The fhe crisis 10 however ever Is 0 oer er and Is iii 1 noon nu now no on the d elne 1 he industry as a a s whole Is li gradual gradual- gradually gradually ly Iy i K g Itself and tho spring I I and o ot of 1924 1 24 with In In Ing consumption and lessened I should Into inte lew t more optimistic horizon today In the tho Ul OtI I Meanwhile ot or the Ihu bl bit bit- bitter bit tor t- t I ter Br grido oil stocks o hl hat h M declined l 1 00 In front from from I ih lOL points for tor tin thi y ell cat In March Marchand I and April or an all 0 a eraso ot dei of I a about ont 30 10 per cent A diagnosis I I lor of the tho trouble eals rc ta 1 two optImal 0 I cau causs the s-the the bearish trend ot of tile the stock tind 0 Oer o er Pro Pro- Production pro production d of tI ude oil ull 1 No O o one group croup of stocks can lou Ions I a hear boar market to 10 lIay say I nothing of ot off of bows bow such I I I as those thoe overproduction q has ha I I I the group Kroup UJ InC the last ten months mOl I the tho ho hM has hi I 1 I i the 1 1 ell ed or of 01 I t I period 1 tho th Oil 11 l Industry I cr v lii 1 v e bust lin Although the Ot 01 all p n ts gasoline Ku gu oline In has ha G It li at the th bg of the storage season amount pt cf pil 1 00 lI of r gasoline acre ere on hind The I he Slid Mid nt 1 T pope ope line in- in in has hs been hard hit due du to o In California In- In Instead dead In-dead stead of or the unal su sui ply of or crude oil being taken lahen from this thia ti field ld the tho Atlantic has been heen Ini thoI I ing large lare by tank tanh steam steam- steamers ers from Irom California Pipa line lun uns I liLt hai h beta been reduced causing n a de ll to e in ermines as n I i b ithe the recent passing of or the th Cre Cres- Cres cent Pipe Line Lino dl Pcr rumor of or new fl fi- fi financing fl hus hae the time or of J 1 number of or companes notably the Texas Company to low ba lf el kids Tho Th I Ichler chief ru u Eube e tui rUI Si 19 1 the nel s of or tarr In lne lal lae be In mien mien- en- en tories brought on of ot Coors b by byo o But fiut tn neils large larso ISI ble stocks tn if on hand i h dl to 10 assure agit as ail nt l-nt shortage o tot Cot the e e c t I Considering this t tt t n w ni-w w finan I dug ro for such tuch should hould not notI be Le In an aim I light i It is rot not cx that olla ol ii UI I I lak tak a nOll ablo up ard lou to 1119 U market I Cut flut In the th tho I better glade stocks IO hS should hold holdi I their own and as tt 11 1 less lese and less a factor b by I tIme the time timo th the gem gel eral erd beail loh h 0 Ined Im I'm 1 I lifted theno securities c I B be hl In a po to 10 o pat 11 1 J 1 ate ale in n the next 11 head I load oad rise as us shown On the 1311 Is b ru at ot it 18 per lent beto an normel- normel an Im- Im pro o of 1 per cent oe O lat V ek cek H |