The Jacksboro Gazette (Jacksboro, Tex.), Vol. 60, No. 13, Ed. 1 Thursday, August 24, 1939 Page: 5 of 8
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THE JACK8B0R0 GAZETTE^
: ';rjfP
-—
EADES MOTOR CO.
rWELL, SlR-I AIN'T MUCH
6000 WITH A GUN, BUT
r'M PLENTY £0OO WITH
A FAST USED CAR FPOM
EADES
MOTOR CO. v
AMP HERE ARE A
FEW SPECIMEN IVE
BA66EP TO
PROVE IT/
T;
Wi&
1937 Plymouth Coach, Extra Good. 1938 Ford DeLuxe Coupe, Perfect.
1939 Plymouth Coupe, Big Discount. 1937 Ford Tudor, Reconditioned.
1938 Ford Sixty Tudoj, Like New. 1937 Chev. Mast. DeLuxe, Extra Clean.
i PRANK 0. LOWDEN, JAMES
E. GORMAN, and JOSEPH B.
FLEMING. TRUSTEES OF THE
ESTATE OF THE CHICAGO,
ROCK ISLAND AND GULF
RAILWAY COMPANY, hereby
give notice that on the 1st day of
August, 1939, they filed with the
Interstate Commerce Commission
Washington, D. C., an applica-
tion for a certificate of public con-
venience and necessity for author-
ity to acquire and operate that por-
tion of the line of railway of the
Gulf, Texas & Western Railway
Company extending from a point
approximately 1,000 feet east of
the east switch at Jaeksboro north-
westerly to end of the track it
Seymour, a distance of approxi-
mately 75.3 miles, all in Jack,
Young, Archer, and Baylor Coun-
ties, Texas.
FRANK 0. LOWDEN.
JAMES E. GORMAN, and
JOSEPH B. FLEMING,
SHIP i
VIA TRUCK
Courtesy - Service
Over-Night Freight Service
Daily
—FROM—
Dallas - Fort Worth - Wichita
Falls - Waco and Houston
—AL80-
Package Car Service
—FROM—
New York - Philadelphia
Akron and St. Louis
SPROLES
H. W. DOBSON, Agent
—
PAGE FiyE
Ask For Butter-Nut Bread
TRUSTEES OF TIIE ESTATE
OF THE CHICAGO, ROCK IS-
LAND AND GULF RAILWAY
COMPANY
(c-8-31)
SPECIALS
FOR SATURDAY, AUGUST 26TH, 1939
SPUDS — 10 lbs..... 19c
LETTUCE — Head _____________ _ 5c
LEMONS — doz ..... __ _________________________ ‘ 15c
CORN FLAKES — Free Premium — each 9c
TOMATOES — 4 No. 2 Cans ............. 29c
PUFFED WHEAT — 8-oz pkg ...... 9c
hhs 3 lb. 69c
1 lb. 25c
ROAST — Fancy Fed Beef — lb ....
FRESH COUNTRY BUTTER — ft
HOKUS POKUS
Free Delivery
Telephone 38
r
K
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m
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W"
1
WHY
Humble Oil & Refining Co.
Reduced the Price of Crude
This statement is published as a paid advertisement by Humble Oil
& Refining Company for the benefit of those who are interested and
not acquainted with the facts.
On August 11 the Humble Company posted reduc-
tions in the prices at which it purchased crude oil in
Texas and New Mexico by amounts ranging from 5c
to 32c per barrel, and averaging 18.5c per barrel. In
view of the fact that this action on our part has been
severely criticized before the public, we outline below
the facts and reasons on which it was based:
1. On August 1 the quantities of crude oil listed
below, aggregating 218,920 barrels daily in Texas,
Louisiana and Arkansas, were moving to market at
prices substantially |>elow the Humble’s postings for
similar crudes:
AREA BBLS. DAY
TcX3S*~~
West Central ......................... 37,000
Gulf Coast ........................... 22,600
Southwest .......................... 16,900
East Central ......................... 12,800
East Texas Field ...................... 6,850
Panhandle ....................... 1)500
Total Texas ............ 97,650
South Louisiana ...................... 81,920
North Louisiana and Arkansas .......... 39,350
Total 218,920
2. The amount of crude moving below Humble’s
postings was greatly increased when on August 10 the
Sinclair-Prairie Company posted a reduction of 20c
per barrel affecting the oil produced and purchased by
it in Texas, New Mexico, Oklahoma and Kansas, which
action was followed immediately by reductions in the
price made by a number of smaller purchasers. These
reductions applied to more than 150,000 barrels of oil.
This, added to that mentioned in the preceding para-
graph, equals 368,000 barrels. In the three States in
which Humble operates, Texas, New Mexico, and
Louisiana, the aggregate volume of oil moving below
Humble’s prices approximated 17Vi% of the total cur-
rent production in those States.
3. The movement of constantly increasing quantities
over the past year or more of crude produced in the
new Illinois fields, reaching a total of 300,000 barrels
daily on August 1, on a price basis substantially lower
than Humble’s postings in its territory, exerted a pro-
gressively depressing effect on the crude oil market.
The effect was felt in Texas; and actually since April
1 Humble has lost 10,000 barrels per day of business
absorbed by Illinois crude. This loss .of business was
in addition to that lost by Humble as a result of the
movement of crude at low prices in .the territory where
we operate. ^
4. On August 11, therefore, the total volume of oil
moving at prices below those of the Humble was ap-
proximately 668,000 barrels.
5. The crude oil market has been under pressure for
more than a year. The price adjustments made last
October did not remove fully the disparity between
Humble’s prices and those of some oil moving in its
markets. Since that time the volumes of crude moving
below our prices have increased steadily, with the result
that when the reductions of Sinclair-Prairie and others
came on August 10, affecting approximately 150,000
barrels of crude per day, conditions were so bad that
we were compelled to reduce our prices to meet this
competition. In no case are our new postings lower than
the Sinclair-Prairie postings for similar crudes.
6. The Humble Company is primarily a producer
of oil. Its crude oil properties constitute its principal
asset. Its net production averages 133,000 barrels a
day. We are also crude oil merchants and purchase,
at our posted prices, 251,000 barrels of crude oil daily
in Texas and New Mexico. These prices also govern
the price at which we sell the oil which we produce.
Because of our large production we are vitally inter-
ested in the maintenance of fair prices.
Our refineries consume something near the amount
of oil which we produce. As a consequence, with re-
spect to our purchases we are in the same position as
a merchant dealing in any commodity. To continue in
business, we can not over a long period of time pay
higher prices than our competitors. We are compelled
to meet competition. The price of oil, like that of other
commodities, is subject to change with market condi-
tions. These are simple and fundamental business prin-
ciples. We were reluctant to cut the price of crude,
not alone because of its adverse effect on our own earn-
ings, but also because of its effect on our customers
and upon the industry and the state at large. Under
these circumstances, we could not continue to pay the
prices we had been paying.
7. As a matter of policy the Humble Company
maintains stocks of crude oil very slightly in excess of
the amount required as working stocks to carry on
operations. We do not believe in storage of oil above
ground but in production of oil currently as required
for market. We do not speculate in oil. We have no
desire to buy oil at any price to accumulate for storage.
8. We think the price for oil brought about by the
competitive conditions above mentioned is lower than
should be realized. In our opinion, the. flood of oil
from Illinois and Louisiana, most of,- which is being
produced wastefuliy, in violation of conservation prin-
ciples, is primarily responsible for the market condi-
tions which necessitated our price reductions. It is our
hope that these conditions will be corrected and that
the market will improve.
frapr"""
H- C. WIESS, President
HUMBLE OIL & REFINING CO.
T„ ■.. - ,,
on the c/famaul
TiresWfre
STANDARD TIRES
THE THRIFT SENSATION
OF 1939 .
HOW YOU CAN GET ONE OF
THESE AMAZING TIRES
★ BUY ONE AT
LIST PRICE AND GET
THE NEXT ONE AT
50% DISCOUNT...
/AS LOW AS^X
%
firestone standard
fireetone chami
PION
SIZE
Price
For The
1rt Tiro
Next
Tire 50 %
Ditcouni
Price
For
5 Tires
YOU
SAVE
SIZE
Price
For The
1st Tire
Next
Tire 50%'
Discount
Price
For
2 Tires
YOU
SAVE
1.40-21 \
1.50- 21 i
4.75-19 1
5.00- 19 S
4.50- 2C ;
5.00- 20 »
5.25- 17 i
5.50- 171
5.25- 18 1
5.50- 18 1
5.00- 16
$7.20
7.45
7 40
♦.SO
8.45
10.3S
$3.60
3.72
3.80
4.75
4.33
S.18
$10.80
11.18
11.40
14.25
12.98
15.53
$3.60
3.72
3.80
*4.7$
4.32
5.17
5.25-17)
5.50- 17*
6.00- IS
C.25-1G.
6.50- 16
7.00- 16
$14.6$
15.95
17.95
19.35
21.95
$7.31
7.93
8.98
9.68
10.98
$21.98
23.93
24.93
29.03
32.93
S7.32
7.97
8.97
9.47
10.97
Above Price* Include Your Old Tire—Other Site* Proportionately Low
A 50% DISCOUNT ALSO APPLIES TO THE
PURCHASE OF 2nd TIRE ON THE FOLLOWING:
fireetc
Ml* HIGH SPEED
firestone convoy
SIZE
Price
Fer The
1st Tire
Next
Tire 50 <C
Dtnco.nl
Price
For |
9 Tire*
YOU
SAVE
SIZE
Price
For The
let Tire
Next
Tire 50 9*
Discount
Price
For
1 The*
YOU
SAVE
4.75-191
5.00.19'
5.25- 17 (
5.50- 171
5.25- 18 1
5.50.181
6.00-16.
6.25- 161
6.50- 16'
$10.30
13.20
12.00
14.35
17.40
$8.1 S
4.60
6.00
7.10
8.70
$15.48
19.80
10.00
21.53
26.10
SS.1S
6.60
6.00
7.17
8.70
4.40-21)
4.50- 211
4.75-19 1
5.00- 19»
5.25- 17 |
5.50- 17 1
5.25- 18 i
5.50- 18 1
6.00- 16
$8.35
8.40
11.00
10.00
11.95
$4.18
4.30
$.50
5.00
5.98
$12.53
12.90
15.50
15.00
17.93
$4.17
4.30
$.50
5.00
5.97
Above Prices Include Year Old Tire—Oth.r Slits Proportionately Low
GREATEST SAFETY AND ECONOMY
A NEW TUBE ,IN EVERY NEW TIRE
FOR
PUT
LIFETIME GUARANTEE
NO TIME OR MILEAGE LIMIT
Whittsitt’s Texaco Service
Phone ZiO South Mata
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The Jacksboro Gazette (Jacksboro, Tex.), Vol. 60, No. 13, Ed. 1 Thursday, August 24, 1939, newspaper, August 24, 1939; Jacksboro, Texas. (https://texashistory.unt.edu/ark:/67531/metapth730687/m1/5/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Gladys Johnson Ritchie Library.