RESTRICTION OF OIL OUTPUT

Stratford Evening Post, Volume II, Issue 353, 9 September 1933, Page 5

RESTRICTION OF OIL OUTPUT

Revolutionary Experiment Begins OPERATIONS SLOWED DOWN IN OIL STATES Rise in Price Hoped For Press Association. —Copyright. Reed. Today. 9.150 a.m. Washington. Sept. 8 The twelve billion dollars' oil industry embarked on one of the most revolutionary experiments of modern times as the order of the Secretary of the Interior, Mr Harold Ickes, reducing oil production by some 350,000 barrels daily, went into effect. Pipes were capped and pumps slewed down or stopped in Texas, Oklahoma, California, Kansas and other oil states.

Meanwhile the prices cf crude oil are rising and oil executives gatherof the od code looked cnfidentlyOof erd here to work out the operation of the oil cede looked confidently to a further increase without inmediate price fixing. Controversy has riddled the bituminous coal industry which presented on Friday with a code fixing fair wages, working conditions and providing for price increases. A code for the anthracite coal industry is in the offing. ;