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This newspaper page contains 7 articles. Subscribers can read the full text of each article.
Newspaper
Preston Citizen
Location
Preston, Idaho, United States of America
Date
Oct 18, 1951
Page
6
Orville Judd praises petroleum companies for voluntary price freeze without binding rules. The feature marks Oil Progress week and notes that despite inflation gasoline prices before tax match levels from 25 years ago. Oil men are cited for numerous contributions keeping homes warm and operations running at peak defense program demands.
The steel industry shaped baseballs used in the major leagues as machine tools advance Spalding production. A. G. Spalding started modern baseballs in 1876 with a hard rubber core. Today machines largely handle stitching and shaping though hand sewing remains.
A local look at a major oil company’s last year earnings showing 62.5 percent spent on production and materials, 12.5 percent on payrolls, 5.9 percent to government, 5.8 percent as dividends, and small portions for depreciation and interest. The piece notes industry-wide efficiency and joint efforts during emergencies such as floods and shortages.
An advertising solicitor notes that newspaper advertising costs have not kept pace with price increases since 1940. He compares prewar print costs, current shipments, and double circulation to argue that even with higher circulation the net cost to merchants has risen less than other goods and services. He urges merchants to compare current prices with 1940 levels.
The report recalls Colonel Drake’s first well in 1859 and notes drilling costs surged as teams reached greater depths. Historical accounts highlight early technology limits and rising labor and material expenses for initial oil extraction efforts.
The passage notes that handmade tools cost 76.50 dollars and that in 1951 a 7500 foot well rig cost over 112000 dollars, enough to equip about 1464 wells, illustrating the scale of investment in mid continent oil drilling.
The article condemns the Tennessee Valley Authority and federal takeover of electric power as socialist and dangerous. It cites opposition from unions and public polls, denounces the presidents water resources policy commission, and argues for local and private power over federal control. It urges support for legislators and the electric industry.
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