Indianapolis Times, Volume 39, Number 243, Indianapolis, Marion County, 17 February 1928 — Page 5
FEB. 17, 1928.
OIL INDUSTRY DEVELOPMENT COST IS HIGH .1 , • Waste Shown to Be Great in Building to Present Over-Production. Th reasons for <be present inefficiency in the production of erode oil are discussed in this, the fourth of a series of articles by Rodney ftutoher, Washington correspondent for The Times and NEA Service. BY RODNEY DUTCHER NEA Service Writer WASHINGTON, Feb. 17.—Under a general policy of “get your neighbor’s oil before he gets yours,” hundreds of millions of barrels of oil and hundreds of millions of dollars have been wasted during the development of the American oil industry to its present chaotic period of overproduction. This waste still goes on. It is due not so much to overproduction, but xatther to overcompetition among producers. Here is how the present system—which even so cautious a man as President Coolidge has called “wasteful to an alarming degree”—actually works: Oil deposits, especially the largest and richest, spread out under large areas of land, the surface ownership of which is divided among many individuals and competing companies. Once a reservoir is tapped, the oil spouts and flows under the pressure of natural gas within. When the gas gives out, the oil stops flowing, or subsides to negligible proportions. First, to Drill Wins • The first man to drill gets the oil. To use a concrete example, suppose 40 companies each own ten acres in 400 acres covering an oil deposit of like dimensions. If 39 of them agree to leave the oil in the ground, the other owner is still able, under the present disorganized condition of the industry, to drill his own wells and pump off all the extractable oil in the entire field. The result is a mad scramble to get the largest amount of oil while the getting is good. And the natural gas pressure that produces the oil is reduced as each new well begins to flow. It is this sort of tiling which occurred in the great Seminole field of Oklahoma and forced crude oil prices down from $2.60 to $1.30 a barrel. The most serious feature of it is 1 hat it involves -wasteful methods of production at a time when no one knows how long the oil reserves of this country are going to last and when some experts predict a famine within a few years. Left Half of the Oil In one instance where 45 oil companies scrambled for oil in a new field, the Federal Oil Conservation Board—consisting of Cabinet Secretaries Hoover, Work, Wilbur and Dwight Davis—found that competition caused a dissipation of gas pressure which left in the upper sands of the field as much oil as was actually procured. Secretary of the Interior Work, chairman of the Oil Board, recently cited estimates that investors in oil stocks had lost from $500,000,000 to $1,000,000,000 as a result of overproduction. Although larger companies can store oil above ground while smaller companies are forced to sell oil at
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below cost face ruin, the average storage cost is 50 cents a barrel and the above ground stores always are endangered by fire from lightning or other causes. / Waste Is Enormous The waste of this natural gas has reached astonishing proportions. Some idea of the unknown total waste of gas may be gained by the estimate that at one period during the heydey of the Cushing field in Oklahoma, more than 300,000,000 cubic feet or gas was wasted every day. This amounted to more than one hundred billion cubic feet in a year, the fuel equivalent of 5,500,000 tons of coal. WIbLIAM TELL JAILED Ohioans Emulating Historic Marksman, Has Bad Aim. CLEVELAND, Ohio, Feb. 17.—Expatrolman Henry Frischkorn lias something on William Tell. He must spend four months in the workhouse for trying to imitate the famous sharpshooter. Frischkorn tried the stunt with his police pistol, firing at the hat of George Reynerd. He not only hit the hat, but also the head of the man -with whom he had been discussing the merits of his weapon.
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THE INDIANAPOLIS TIMES
DOWNSTAIRS AYRES DEPENDABLE MERCHANDISE W AYRES SERVICE ♦ LOW PRICES
New Spring Apparel
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Newly Arrived Spring Coats
‘IP ‘25 Definite style trends—smart and quite authentic—are shown in this new group of spring coats. New mannish lines, tailored and dress models are here—in good looking, serviceable materials and newer trimming effects. The majority are full lined, with silk crepe, satin de chine, or brocaded rayon. MATERIALS Fur Trimmings Kashas Coney (Rabbit) Tweeds Squirlette (Rabbit) Gilbert Cloth Piece Squirrel Suede Cloth Moußon Sizes for Misses and Women —Downstairs at Ayres.
New Spring Footwear - *6.85 These are “LaSayre” shoes—made expressly for Ayres’ Downstairs Store, according to rigid specifications, for finest materials and workmanship. Anew shipment hag just arrived, including the spring season's smartest new styles. Here are three of them. A neat black patent pump for dress or evening wear. Short vamp last, spike hee.'s. Sizes AAA to C. Black patent one-strap pump with pretty cut-out design on side; narrow style with spike heel and short vamp. French corded, new buckle fastener on side. Very smart one-strap style for street or dress wear. Good looking cut-out patterns on side; comfortable Cuban heel. AAA to C widths. —Downstairs at Ayres.
The Annex Store Closes!
Final Reduction of Men’s All- Wool Suits
For the last day of this great Close-Out Sale all remaining men’s suits have been regrouped, and a further substantial price cut has been taken. There still remains a good selection of colors and patterns—in smartly tailored, fashionable styles that men like. EVERY SUIT COMES WITH TWO PAIRS OF PANTS at these new low prices! Men, if your size is here, by all means take advantage of this remarkable opportunity!
$lO Sizes 35, 37, 38, 40
Men’s Dress Pants, $2.95
New Dresses ’lO w These very moderate prices bring a wide range of beautiful new spring dresses in the newest and most desirable styles, materials and colorings. You may choose from fine assortments of smart tailored models, as well as lovely dressy styles and ensembles. Trimmings include pleats, piping, self contrasts, drawnwork, embroidery and metal ornaments. * MATERIALS COLORS New Prints Rose Tan Flat Crepes Red Blue Palmetto Crepe Black Green Georgette Navy Blue Sizes for Juniors, Misses and Women —Downstairs at Ayres.
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Children’s Sweaters, $ 1.95 The kiddies wili like a sweater chosen from this splendid group. There are both slipover and coat styles—knit of all-wool and partwool yams. A good choice of plain colors and fancy patterns; with or without collars; some with pockets. Sizes 22 to 30. Inf suits’ Sweaters and Sacques, $1 There are all-wool and rayon and wool garments in this groupsome are daintily embroidered. With, and without collars. Mostly in white, trimmed with pink or blue. —Downstairs at Ayres. Novelty Fabric Gloves
™T n 79c Pr - Very pretty, washable fabric gloves from one of the world's best-known makers (look for the name on every pair); secured at great price concessions, and offered at a real saving. Every pair is perfect—a fine quality novelty chamoisuede fabric glove, In the season’s best colors. Many patterns to choose from. —Downstairs at Ayres.
1,000 New Spring Hats $1.95 and $2.95 Fashion-favored styles, every one of them, in colorings and trimmings that will delight the eye of tj*e woman who loves smart things. The materials are belting, satin, faille, felt, visca, fabric and pedaline and felt and straw combinations. All head sizes. Women’s Broadcloth SMOCKS—SI.9S These are well tailored models'in very attractive styles, either cretonne of self trimmed. They are finished with two pockets, some with raglan sleeves and inverted pleats in back. “Aviatrix” model is included—double-breasted, flare skirts and fancy cuffs. Sizes 36 to 46. Colors of blue, rose, black and lavender. —Downstairs at Ayres.
$17.50 Sizes 35, 36, 37, 38, 39, 40, 42, 44
Men’s Golf Knickers, $1.50
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$23 Sizes 35, 36, 37, 38, 39, 40, 42, 44
Boys’ Knickers, 79c, $1.35
Sub-Standards of ■ LAL SILK Hose for Women (Exclusively Downstairs at Ayres) MEDIUM SERVICE WEIGHT hose of pure thread silk, with a silk boot that extends over the knee. Lisle hemmed top, seamed back and fully reinforced, ljijjjf* Newly reduced to
CHIFFON WEIGHT hose of pure thread silk to the tops; full fashioned; lisle rein- and | forced at points of wear*v *
New REALSU.K De Luxe Hose This beautiful stocking Is a brand new “Real Silk” number of pure thread silk over the Q|| knee. Service weight, lisle hemmed garter ft 1 , top; seamless. w
Children’s Silk and Rayon Hose, 69c Good looking, fine-ribbed stockings of silk and rayon; seamed back, fashion marks, full reinforcement. Popular colors. First quality. Sizes 614 to 9V4.
Women’s Rayon Undies
All First Quality—Made by (?£AL SILK Rlnnmorc This is a ver y exceptional U 1 UUlilCi o quality of rayon in a bloomer unusually well made—by the d*|§ local Real Silk mill—discontinued number tj)B offered at a very great saving. Well re- 8 inforced stride; nicely finished. Orchid, tdfera white and peach. Sizes 36 to 42.
Princess Slips Fme * rayon slips from Real Silk; very durable, in bodice top style, with shadowproof hem: hip pleat; navy, white, orchid— S* $1.39 —Downstairs at Ayres.
Vests, Stepins Real Silk rayon vests, In bodice top style. Nicely tailored stepins with elastic at waist. Flesh, peach, orchid, pn Sizes 34 to 4oD*/C
Demonstration and Sale of “Ideal” Sanitary Goods Miss Ullock, factory expert from the Ideal Sanitary Goods Cos., is here to introduce her splendid, well-known line. She will be glad to explain the advantages and superiorities of each garment, and tell why they arc fully guaranteed for service and wear. There's a full and complete line—in a wide range of saving prices.
Sanitary Belts A large assortment of elastic and brocaded materials, in actual waist sizes; guaranteed for com- or d> T sortable fit... £DCtoP* Sanitary Aprons Many different styles and materials to choose from—all quite ;”:40c w $1.25
“Ideal” Sanitary Napkins 35c Box—3 Boxes, $1 Regular size “Flush Down” sanitary napkins of very fine quality. 12 Napkins to the box.
Girls’ Wash Frocks $ 1 QC Sizes 1 8 to 14 These pretty novelty prints are fine for school wear; in girlish straightline styles. Trimmings are pleats, pockets, belts, ties, collars and deep hems. Many new bright spring colors to choose from. Girls’ Rayon Bloomers, 79c A good quality lustrous rayon bloomer, well reinforced, flat lock seams; sizes 6 to 18. —Downstairs at Ayres.
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SERVICE WEIGHT, full fashioned hose, of pure silk to the lisle garter welt. Well reinforced throughout. d* i Sizes B'4 to 10
Full Length Lisle Hose, 25c Children’s first quality mercerized lisle stockings, in English ribbed style; plain knit foot, fully reinforced; in popular colors. Sizes 6 to 10. —Downstairs at Ayres.
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Sanitary Stepins Made of fine voile and silk materials, trimmed with lacc for greater attractiveness. Medium 71* (I*o and large lOC to Sanitary Shadow Skirts Well made of voile and silk of splendid quality. Entirely shadow- >7 r <l*4 OC proof... iaCto •LD
—Downstairs at Ayres.
. Men’s and Boys’ FURNISHINGS WILL MOVE to new and smaller space at the foot of the Washington street stairway in the Main Downstairs Store. The new location will be occupied on Monday morning —and the same attentive service and high-grade merchandise will be offered to our friends and patrons.
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