Word: oiled
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Dates: during 1920-1929
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...oil industry there came last week a code of ethics. Concerning only the marketing of oil, the code consisted of 19 articles, most of which dealt with relations between "refiner, wholesaler, distributor and jobber" and the "retailer." As gasoline is by far the most important petroleum product, particularly for U. S. consumption, the "retailer" is usually the filling station owner and the code deals chiefly with unfair methods of securing filling station distribution. It says that the wholesaler should not lease pumps, tanks or other equipment; should not pay the retailer's rent, put up his buildings, lease...
Some of the code provisions are striking indications of the competitive aspects of the oil business. There is a rule that "lotteries, prizes, wheels of fortune or other games of chance shall not be used in connection with the sales of gas and motor oils." And it is expressly stipulated that no oil company shall indulge in the practice of painting out the signs and colors of a competitor...
...code requests that violations of its provisions be taken up with the proper "regional committee" of the American Petroleum Institute and should also be referred to the Federal Trade Commission. Thus the oil companies, though establishing their own board of arbitration, are attempting to cooperate with, rather than to take the place of the Federal board...
Long-planned, muchdiscussed, the code was adopted at the ninth annual meeting of the American Petroleum Institute in Chicago. Much of it might seem to consist of regulations which have become standard practices in most industries. It should be remembered, however, that the oil industry today suffers from overproduction, with its attendant fierceness of competition among more than 3,000 established oil companies. There are in this country about 320,000 oil wells with a potential daily production of about 3,000,000 barrels of oil. During 1926 the average daily domestic demand for crude oil was slightly over...
...last week, the best steer in the U. S. Clarence called the steer Dick. When Dick was calved (July 27, 1927), Clarence paid his father, Fred Goecke of State Centre, Marshall County, Iowa, $55 for the gangling Hereford bull. Thereafter, every day Clarence fed Dick ground corn, cooked barley, oil meal, bran, molasses feed, clover hay. Clarence groomed Dick himself, made Dick's hair curly with a special comb, helped make him a steer...