Index

Oil Committee. Election of R. C. Holmes, President of Texas Corp., to head a committee of 80 oil-executives was last week announced by the American Petroleum Institute. The Holmes committee is charged with the difficult and vital function of determining some method of restricting oil production. The main committee is divided into four regional committees:

Pacific Coast, headed by K. R. Kingsbury, President of California Standard Oil.

Gulf Coast, headed by George S. Davison, President of Gulf Refining Co.

Interior, headed by W. C. Franklin, Vice President of Tidal Oil.

Mexico and South America, headed by E. J. Sadler, President of Creole Petroleum.

Holland Profit. The Holland Tunnel, vehicular toll tunnel beneath the Hudson River, is making money at a rate which indicates a $5,000,000 profit for 1929. Last year's profit was about $3,600,000, and 1929 traffic has shown a 25 per cent increase. Tunnel profits are shared jointly by New York and New Jersey to repay State construction costs.