Following general advances in the price of crude oil. Standard Oil of Indiana and Sinclair Refining (subsidiary of Sinclair Consolidated) announced increases in the wholesale price of gasoline (½¢ to 1¢ a gal- lon on carload lots). Meanwhile production continued to ride boisterously in advance of previous figures and President Hoover himself was moved to call an oil-restriction conference which, meeting on
June 10, will presumably devote itself to the problem of discovering a combination in restraint of petroleum which shall not be a combination in restraint of trade.
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