Business: Anarchy in Oil

For two weeks Ralph Clinton Holmes was very busy. As president of Texas Co. he called newshawks to his office, told them that illegal production of oil was ruining the oil business, served notice in no uncertain terms that unless States enforced their oil proration laws the industry would do it, that if the industry would not do it, Texas Co. would. A few days later the Texas Railroad Commission upped the production allowance of the vast East Texas oil field from 400,000 bbl. to approximately twice as much. A prompt wire from Mr....

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