Casper Daily Tribune Newspaper, February 6, 1919, Page 4

nahn 1 wo KINNEY PLANS READJUSTMENT Ten Million Capital to be Split into Preferred and Common Stock, Report A call has been issued by Joe C. Kinney, president of the Kinney Oil and Refining company, for a special meeting of the stockholders to be held March 12, when the directors will submit a plan for a re the company’s capitalization, $10,000,000, all common, to $7,000,- 000 of common stock and the crea- tion of a 7 per cent preferred stoc! (3 WATER WELL INSTEAD OF OIL plained; Oil Producer Within Stone’s Throw Instead of oil the well reported to have brot in on section 21-43-92 of the Kirby Creek field above Thermop- olis, is a producer of water only. The flow of water is said to have duction of | been struck in the same sand that} now | Produces the fine flow of oil scarcely, a stone-throw away. The hole is jeomewnat deeper at the water well k than where the oil was found, owing) Kirby Creek Development Unex- issue of $3,000,000. The preferred ‘° @ dip in the sand and a rise in the stock, besides earnings above 7 per|/COMtour of the surface. An oil} cent, will participate equally with pusher and a yet tenes the common in all earnings above 7} OM ele jgene, Sauce sos enor per cent. a distance of one another is a situa-} Inasmuch as the directors, Mr. Kin-! tion that no one seems able to ex- ney, Charles E. Orchard, Leslie A. plain. ibe acer pases te C aves Miller, John De Clark and Guy Craig, |"e!@n some say to the top of the | Room 212, Oil Furnished by TAYLOR & CLAY individually own approximately 3,- 000,000 of the outstanding $5,000,- 000 shares of the present stock and have waived their right to convert their holdings into ~ the preferred stock, it is apparent that they are’ expected of the ultimate of the company. ‘ There are approximately $2,000,000 s of Kinney stock in the hands of the public. These, when converted into preferred shares, will leave an- other million of preferred, which wil] be held in the treasury for further corporate needs, as will 4,000,000 shares of the new common stock. In a letter to the stockholders, Mr. | Kinney states that the privilege of conversion will be open for six months after the special meeting of the share- holders. The books will be closed Feb. 10 in preparation for this meet- ing and will be reopened for ten days before they are again closed for the dividend p ble April 1. This divi- dend, which will be 2 per cent, will} be paid to all the outstanding shares when converted, whether ‘this has | been done before or after the date of the dividend, Two other divi- dends of 2% per cent each will be paid during the year. “ The purpose of the change in the capitalization is to allow the share- holders of the Kinney company, out- side of its directors, to continue to re-! ceive dividends while the company is prosecuting an active development policy, not only in Wyoming but on} several important leases which it has! obained in Te If there had been! obtained in Tex If there had been, ne ary for the company to have) ividends to the entire outstand-! 5,000,000 shares, which would ha militated against the develop- ment of its properties. Under the new plan only $140,000 a year will be required®to meet dividend pay- and the remainder of the com-| earnings, which should aggre- $400,000 year, will be used illing wells and acquiring new e. The company officers > not only obtained se I leases in prod fields in Texas, but are success | invest others of prime im- portance. WORLAND TO PAY TWO CENTS MORE FOR LIGHT , Wyo., Feb. 6.—-Wor- is the in electric ne of the latest raise light rates in Wyoming. The state public service commission has decided to allow the Big Horn Light & Power company of that city a surcharge of two cents per kilowatt hour over the present charge, and also to allow the company to increase its street lighting rates from 6.65 cents per kilowatt hour to 12! cents, this latter being on a ten-hour bi In a hearing before the commission the con of thre cent cents, together with a 10- rate on its street lighting. It ned this would be necessary in or- r to make up the deficit in ary o in order to mak pre equitable among all the ii A. DENVER FROM PNEUMONIA a PAULHAMUS DIES IN J. A. Paulhamus, 50, a prominent drilling contractor and oi! man died in Denver during the early part of the week from pneumonia which was brought on by # severe attack of in- fluenza. Mr. Paulhamus left Casper to join his family in Denver just five days before his death was reported here. He is survived by a wife and three children, all former residents of Casper. Funeral services for the deceased were held yesterday in Den e at Philadelphia, Mr. Paulhamug’ mi former home. The hotes 1 coal, as the latter is practically pure carbon. — -—e—__—_ i Eighteen members of the British House of Commons lost their lives j lesser oil well, ;gusher close by indicates the pres- asked for ua surcharge! Interment it is believed will be; a fire is made from char-| |rig—being forced up gas pressure. ; When news of the strike reached by a strong |Thermopolis, but this was refuted on: Shiloh official advice, the streets with the big story that a big oil jbusher had been brought in. Up to date Kirby Creek has pro- duced one good flowing oil well, one and a big water, spouter, H There are many capable oil men who contend that the presence of wa- ter does not in any way effect the, value of the well as an oil pro-' ducer; that water has been found overlying the oil jn all the wells in the field; that when the water is cased off it is immediately replaced by a strong flow of oil; that this same thing will work out in the present well as soon as the company sees fit to bring it in, and that the strike of a strong flow of water need not be at all disturbing to those who have claims in that vicinity. Some there are ,also, who contend that there is a larger mixture of oil in the water than the company is will- ing to admit. A summary of the situation at the we}l at the present time seems to be this: A strong water spouter has} been struck, carrying a greater or less mixture of oil; that this neither} of a considerable oil pool; that it will take a little deeper hole to show} what the well really is; that the oil! buzzed | Exchange Bldg. New York Curb ! \ : 1 Ask | Bid Ask American d 03 | Midwest Refg. _-. 1453 146 Bessemer — 15 -17 | Midwest Com. 1.42 1.44 Big-Bear - 03 | Midwest Pref. _ 1.50 1.62 Big Five — 02 Merritt __- 24.00 24.50 Boston-Wyo. - +30 Glenrock Qil - 3.87 4.00 | Big Indian 30 | 7.00 7.12 | Center 003 1.75 1.87 | Columbine - 80 Sapulpa __ 7.25 7.50 Con. Royalty - 88 Houston il -___ 82.00 83.00 ' Casper Embar 008 | Oklahoma P&R-_ 8.25 8.50 j Elkhorn 56 | . Hecla - 00% | oe See) Jupiter — = 06 | New York Stock Exchange Kinney ----- Sooo 7A 78 | Stocks Mosher Units ---.700.00 800.00 | "Open Close Mountain & Gulf 32 +35 | Mexican Pet. --.. 1683 166 Northwest _----- 50 52 | Texas Oil - 189 1863 Outwest -- 07 08: | Sinclair Oil 342 847 Pathfinder ~ 05 06 U. S. Steel _ 903 894 Premier - 01 02 | | Picardy -_- ee 10) 12 ioe ies | Riverton Refg. -- 11 14 Liberty Bonds Republic —. 02 3h | Open Close 23 1048 .06 - 98.93 98.9 United Pet. _ 083 10 | - 93.02 93.0 | Western Explo. -_ oie 83 - 92,80 92.86 | Wind River Refg. .23 26 | - 95.50 95.20 ! E. T. Williams_-_ 2.20 2.40 | - 94.28 94.20 Wyo-Kans —_ 1.15 1.25 | 3rd 43s - 95.10 95.08 Wyo-Tex. --.--. .45 -50 4th 44s __ -- 94.02 94.02 WYOMING CRUDE OIL MARKET Warm Springs —~ --$1.00Elk Baaln ___ Salt Creek _~ 1.560Grass Creek Big Muddy 2.50Fossil —. Pilot Butte -_ - 1.650Lander - DELMONTE TEST UNITED PETE T0 DOWN 9475FEET BECOME ACTIV Deepest Well in Salt Creek Field; Expected to Find Production at 4,000 Feet Striving toe reach the Dakota six other formations that have proven unproductive, the Delmonte Oil com- pany is drilling the deepest test well} that has ever been made in the Salt! Creek field on section 6-40-79. Start- ing above the Wall Creek sands the driller has drilled thru many forma- i MIDWEST LEA I MARKET TODAY Refining Issue Nears $150 Mark in Rapid Climb That Started From $130 Midwest Refining opening at $14} land selling. at noon around $148 to $149 was the feature of New York stocks today. This is the most per- sistent and steady raise that has over been noticed by the popular refin- ing issue and is attributable directly to the favorable news emanating from Washington on the Jeasing bill. The new price record is the highest attained by the stock since the last stock issue of several thousand shares and gives inkling of the real value of the stock under a fair operating agreement from .the government of its holdings in the Salt Creek field. | Many short sales were reported when the stock went from $126 to $141 in less than a week and as the shorts took to cover the stock hov- ered around the $150_figure. With | buying incentive reversed the stock jtoday saw its greatest advance in [2 short period soaring to the $149 figure. The advance increased the value of the gross 1,000,000 shares nearly $8,000,000 on a $50,000,000 incorporated valuation. . Kinney was the feature of the local board, having gained 12 points to .73 On“ the. strength of the rumor pre- ferred stock issue of 3,000,000 shares with the directors of the company waiving their preferred stock inter- ests and rights. All other lotal stocks remain firm at the prices they have attained since the recent bull movement in local stocks started, with Salt Creek stocks still favorite in the movement. Big Muddy stocks for the first time are beginning to react to the upward revision of prices and with jmport- ant tests that should be completed jin the field in a few days may shift the center of trading action. After having dropped from the $1,000 mark to neariy half that, some trading in Mosher units was/ strong this morning on the strength | of reports from the field that much| progress was made in bringing the Mosher well to production. Tests Valuable Holdings in Texas to be Developed; Salt Creek’ May See Revival According to information reaching! |sandstone after having drilled thru \here, tho United Petroleam company | plans to become a considerable figure in local oil circles during the present | year. Besides its vast interests in: @ Salt Creek vicinity the company has acquired several leases in south- ern fields and Midcontinent fields, , ence of oil in quantity and under tions that are found to be productive 2mong the most valuable of Which up strong pressure; that the operating | ;, many other parts of the field and|to date has been the lease in the company is continuing its work with undiminished energy. Will Drill at Embar L. S. Crall received a standard rig here the first of the week from For- here that the Dakota formation will, the Texas property. | syth, Mont., and has had it freighted ‘a depth of 3,800 2 Tumor current, x : fete reg Pe pencountered ete ncentune that the Ohio Oil company plans tot out to Embar to drill a tract of ground that he and a company of associates composed of Leonard have found the production pinched off. It is believed by M. O. Correy, the general manager of the company to 4,000 feet. The well has already reached a depth of 3,475 feet and the} drillers are making a record for drill- Burkburnett field in Texas. Accord- ing to the statement of E. E. Quen- tin, the company has refused $50,000 for an assignment of its holdings in There is also; but unconfirmed, | retain and develop immediately the tholdings of United Petroleum in the Short, R. R. Thompson and others ing consistency, carrying a good hole Salt Creek field. have located. The site chosen for the first well is just outside the Short ranch, about posed of twenty Salt Lake capitalists Panies two miles north and west of the home ranch buildings. The site is ap- proved by oil men and geologists that ha seen it, the structure ap- parently being all that could be de- sired. It is thot that the oil sands will be reached at a depth of 1,000 feet, more or le: INTEREST IN WYOMING OL CHANGES RENEWED, WISTORS FILL CITY That the recent confidence in oi: development has been of great bene- fit to Casper is evidenced in the con- stantly increasing number of arrivals in Casper for prospective investment in various oil projects and companies Casper is attracting a metropolitan throng from every market city in the) new fields and many productive wells Ee country, many of whom are already heavily interested in development work, while others are making thei: im investments in Wyoming pro ject, On last night's train from the nor! 117 arrivals registered at the Henning hotel from Montana financial centers alone. Many of these men are knowr. to be prominently identified with de- | velopment in the northern part of the state. According to the statement of J icholas, manager of the merged institutions, there is more sub- stantial capital represented in the re- cent arrival of guests at the hostelry than at any time tin the past two years. ANNUAL MEETING MIDWEST REFINING ON MARCH 4TH | The annual meeting of the Mid- west Refining company has been call- ed for March 4, at Portland, Maine, ;for the purpose of electing three members of the board of directors. | The annual meeting of the Grass Creek Petroleum company will be held on the same date, at the same place, for the election of five direc- without a stop for several weeks. The Delmonte company is com-} an cstimated ‘combined excess of $125,000,000 among the most prominent of whom| are the Browning brothers, manu- facturers of the Browning machine gun. who have wealth in ———————>_—_— NEW RIGS GOING INTO === ZIMMERMAN STRUCTURE M. Kyle and his Califoqnia as: just unloaded two G. ates have standard rigs at Thermopolis to de-' = velop the Zimmerman-Butte-Kirby structure, Mr. Kyle’ states that three |” re rigs are on the way for the me field. Work of hauling in and actual drilling will start three weeks. With the leasing bill taking shap' Wyoming should develop a number of before the close of 1919. The class of men and companies that ure coming into tKe state armed with machinery and with ample money to do justice to whatever land * they have selected means big de- velopment. Glance at a Wyoming oil map, showing its present productive ter- ritory, the vast untouthed drillable ucreage that still remains is sufficient reason for the present rush for oil territory. . eae ‘LIBERTY MEMORIAL GIVEN 0. K. BY LATE AMERICAN = WASHINGTON, Jan. 31.—The American Forestry Association ha: received information from Frederick! L. Smith of Philadelphia that the late Colonel Theodore Roosevelt, in one of the last letters he wrote, appraved: the plan suggested by Mr. Smith for the Liberty Memorial by linking. up the highways of the couritry, improy: ing them with suitable bridges and parks and planting trees in certain places along the highways. This plan was promised as a means of ing up is now in progress and — in about => Tho United Petroleum company should be one of the strongest com- financially among the junior organizations as aJjl development work on its property has been car- ried out by the Ohio Oi] company on a royalty basis, leaving the com-- pany to invest its‘fynds in the various uiberty Loan issues. Home Cookii & = { E |e } \2 » Corrier Center and Linden Sts. commemorating the Americans who 3 of production will be made today. The activity was caused by the bid- ding for the issue of several Cas- per traders who yesterday visited the well to get a lineup on its possibil-|; j ities. The stock was strong around $800 with few offers, indicating a price trend to $900. HUN SPIES RECRUITED — BY COMPULSION, CLAIM (By United Press.) LONDON, (By Mail.)—How Ger- man militarism developed a huge spy | system to spy on its own soldiery is! told here by the British admiralty. According to the admiralty’s in-| formation al} letters from home to} ie German private or noncommis- sioned officer were subject to a close censorship by battalion officers. It sometimes happened that a father, mother or sister would ‘very opehly express its dislike of the Ger- mgn government. ' An officer would immediately call the soldier receiving such lettrs be- | fore him and give him the alternative | of becoming a spy or having his fami- ly court-martialed. : Knowing what that meant the sold- ‘ier invariably agreed to spy to save ‘bis family. PARIS SKIRTS WON’T DO IN NE YORK AND VICE VERSA, MODELS SHOWN BOTH SHORT AND LOND Will someone kindly tell me (if anybody knows) Is New Yowk leading Paris, \) Or vice versa, as to ‘clothes? ‘ But with long pointedl toes Mis; Manhattan‘ goes, she has worn these jlong -vamps a long spell. If she turned up her_toes they would surc graze her nose, if sie didn’t turn jthat up as well. B | “Then here too the shoes help to you see the shortest of dresses and | shut off the views. They are wearin; frocks, so when I landed ‘here I felt |them higher, to boot. While in Paris queer’on the pier—the lonk skirts; they’re mad over low shoes. This fai gave me such shocks. ~ . shows a length of silk hosiery cute. ‘On the Rue de la Paix and the|Twixt the ankle and knee there ix boulevards gay the skirts were as high! beaucoup to see, and the girls there as could be. ‘Wher I came away it| aren't stingy a bit, but stingy and was not thought au fait unless yours)near seem the girls over here with were up to the knee. : high shoes and long skirts close of Why, I sat up at night just to! fit. . shorten mike right. Instead of wild Believe me, my dear, when the oats I sewed hems; but I felt with a] boys get back here they'll find lots glow, “when I get home I know folks|that’s differ'nt, I wiss. Most folks will think all my clothes Paris gems.” think strong drink they will crav: But alas arid alack, now that I'am} most. I think that the wine isn’t all come back I' feel like a rube, and a/they will miss. iy MS! inact sct'he WSs] MYSTERY SHIP TO VISIT U.S. NEW YORK, Feb. 6.—I'm just from Paree where they’re wearing here aren’t dressing that way. | When the dames first limped by in these skirts I did ery “‘What a lot of braye girls have been hurt. Perhaps at the front, frying doughnutse—some stunt—they. wate shelled”—-but "twas|. WINNEPEG, Can., Feb. 6.— In only the skirt all so narrow and | formation from Ottawa otclehly con- long wrapping round like a thong, fitms repofts that one of t can that hampered their poor tootsies so.| ‘iscussed British “Mystery Ships They hobble ‘and crawl and scarce| that preyed on unsuspecting German move at all. They don’t seem*to| S¥>marines will cross the Atlantic in have any “go.” the spring and visit a number of “ Some‘skirts I see have a slit in| American and Canadian ports on-the the ’rear like an old time Directoire| Great Lakes. It would be the first gone wrong, but whether they’re slit | #llied warship to come to the lake a lot or a bit, 'they’re all very narrow ; Tegion. a and long. | Mystery ships, a careful guard- | If these skirts I adopt my free, ¢d nava] secret, were built with a strides must be stopped and a way) draft of 3 1-2 feet, making them al- straight and narrow I’ll treat where, most immune from torpedo attacks. T once used to prance short of skirt, They resembled slow-going, helpless in dear France © I’ll hobble down! tramps, but carried guns of suffi- Broadway instead. And I can’t go cient calibre to sink any submarine to town till I do let mine down, for, afloat. Because of their light draught, T hate to be different you know, yet| the boats are able to navigate the to follow this style sure will take me, St. Lawrence canals. Tentative somo while, for to do it one needs, Plans, it is understood, provide that must go slow. | the “mystery ship” to be sent over ‘There’s another change queer be--| will carry an interesting exhibit of twéen Paris and here that my first! naval weapons and trophies. startled vision did greet. It’s the ae * cant . Vamps long and thin New York’s put her foot in. They have simply GEOLOGICAL WORK . bowled me off my feet. Maps and Blue Prints, Surveying Crude Oil Testing a Specialty Wyoming Map and Blue Print Co., _ The Parisienne cramps all hor toes in short vamps and her, shoes are as P. O. Box 325. Rm. 10, over Lyric Casper, Wyo. short as her clothes. They are suede or kid shiny and round toed and tiny. with a contour quite like a snub nos Young WoniaisTownsite In the Lusk Oil Field Che Illinois Pipe Line Co. ig building a pipe line from the Lusk Oil Field to Lusk. Thousands of men will be employed in the Lusk Qil Field. The Families of these men will mean Thousands more. _ Young Woman is the natural place for them to live. An abundance of good water, Telephone, U. S. Postoffice, on the main highway, and many other ad- vantages, at Young Woman. “<ATl lots $100.00 each, 1,000 shares of the capital stock ‘of the Y. W. Oil & Dev. Co., with each lot. Send for folder and particulars write To the Young Woman Townsite Co., Room 3, Mokler Bldg. Phone 467-W Casper, Wyoming CALL 74-] See Ben Transfer Co Stunley Overbaugh, Prop. Light and Heavy Hauling._ Furniture and Piano moving a i ggage transferred. : QUICK AND SATISFACTORY SERVICE _ Phone 913 Friant eSemcnrgriraan teak : eH JERE HHEE FEET iahatell WHY WASTE TIME AND MONEY BUYING NEW PARTS? Ship.or Bring Us Your Broken Castings or Parts to be Welded. WELDERS AND BRAZERS OF CAST IRON, STEEL, BRASS, BRONZE, ALTA AND OTHER METALS ALL WELDS GUARANTEED OXY-ACETYLENE WELDING SHOP 118 South David “Across from Shockley Garage.” 7. Casper, Wyo. Ldede dich duhdhiich dd huleh-teleheleddkdoihiobacuni ct coe B 15e ATT SA THE CURING LUNCH Phone 611-J EERE HEHEHE TAYLOR & CLAY, Inc. STOCKS AND BONDS ‘< Paily telegraphic quotations from New York, Denver, ana other markets ‘over our A psd wires, \.» Place the conveniert facilities of our office at your dis- Posal to buy,.set lor obtain the best ; - arp el der in the b markets and up to the min Information ‘and quotations furnished upon request on Local Oils, New York Stocks, Liberty Bonds and other issues. Phone 203 » Casp Wye. 212 Oil Exchange Bldg. tis