Business & Finance: Boiling Oil

Last week for the first time in the dark & stormy history of East Texas oil fields a State body, controlling production, and a Federal body controlling interstate shipments, sat down in a joint effort to stop the flagrant traffic in illegal oil. It took a raging gasoline price war to bring this logical event about (TIME, Oct. 29).

In a one-story building in Kilgore in the heart of the East Texas Field, where hot oil is now flowing at the rate of at least 100,000 bbl. per day, seven men hunched around a long...

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