Casper Daily Tribune Newspaper, December 8, 1920, Page 4

MARKET. GOSSIP Field and Market Is Found in Enid; Progress Made in Other Ope: rations in Two States Satisfactory progress is reported by the Western States Oil and Land Company in its Oklahoma operations, following a message from Deer Creek that the Oklahoma Natural Gas Company has drilled in No. | gas well on the Crooch lease with an estimated flow of 10,000,- 000 or more cubic feet a day. This well is now being connected up with the main gas line supplying States two gas wells at Deer Creek. A g00d showing of oll was encountered fore drilling into the tion very encouraging to the manage- ment. On the Flood lease the Western States well is drilling at 1,900 f will soon enter’ the formation oi) or s will be encountered. e rn States well drilling gee, is reported down 600 feet and mu “ing good progress. Enid, Okla., and gives the Western ve BYRON DISTRICT lo oTILL ACTIVE This work has been laid out by Geol- Carter and Allen Companies Still ogi: rroll H. Wegeman, who is wel known in Casper and Wyoming thru Prospecting Despite Win- his, geological work in this region. Mr. ter Season Wegeman was the first geologist to{ make an extended survey of the Sult Creck oll field and his maps and ve.| The Byron field in the northwestern ports on that operation which were pub- | Part of Wyoming is rather active con- lished by the government, ar standard for that region. The Western States’ tests at Allen still | Sidering the lateness of the season, The Ohio Oil company is the only firm that has shut down operations there and Lake, near Medicine Bow, Wyo. has| this company has stopped work be- are now running casing. It is expected this well will be finished in the near fu- ture, and in view of the fact that gas was encountered by the Cosden Oil company on the other end of this strue- ched a depth of 2,010 feet. Drillers} cause it has a very long water supply line that would be very costly to bury and without which the camp and: wells cannot obtain water for the boilers. The Carter Oil company drilling on ture, it is hoped by the Western States | the Korerhans lease south of the river officials that oil will be encountered in the location in which their well is now drilling. Elk Basin Completes Well. will keep on with the work and the well is now 2500 feet and in shale. The Allen Oil company haye four rigs up and ready for the tools and this firm’s well on the Jones lease is to be a deep Eik Basin Petroleum company has! test and will try for the Greybull sand. completed, ts No, 2 Frantz well on the Cat Creek, Mont offset to/the well of the Fifty-Six Oil company and starts at 300 barrels daily, yea of the Frantz well was held up a geek by a fishing job, f Producers & Refiners. Producers and Refiners corporation is making good progress in its first test in section 30-46-63 in the Osage oil fiel, having reached a depth of 1,000 fect ince starting drilling Nov. It is » moving in tools for te ‘n the same section. In section 46 64 it is moving tools from well No. 3 to location No. 7 and will also start drill- ing at No. 4 in section 25 soon. Osage Pipeline Operating. The Iinois Pipe Line company start- ed running ofl from the Osage field to the Midwest Refining company early this week. : Conray Takes Spurt. Consolidaied Royalty Oil company stock which has been steadily but siow ly on the increase since the first of this week, took a sudden spurt last night and this morning and shortly be- fore noon it was being bid $1.48 to $1.51, whereas yesterday morning the best bid had been between $1.40 and $1.42. In spite of a feeble market on oils for the last month: or more, Con solidated Royalty has remained close to the $1.40 m pa>+ of the buying influx nd this morning was in ding. to the report made hy oil broke here. Officials of the Consolidated Royalty Oil company said there no pr big increase other than the ever in- creasing statement of earnings each month and the sudden realization of the value of the sto ee NS SHALLOW DRILLING 10 BE STARTED ON RANCH 20 MILES WEST, CLAIM! A new operation, rather a departure from the general run of field work in Wyoming is soon to be started west of Casper about 20 miles. Some oil seeps on the Johnson and adjoining ranches has attracted some operators and a. shallow oil develop- ment will be started in the n future. It will mean the drilling of many shal- low wells and an ultimate’ production ze compared to the aver- age well in the ate yet the cost of drilling is so small the wells can be made to show a good profit. The Yellowstone Oil Syndicate is the of several firms to enter the new sposition and the firm is now mak- ing pr rations to send a drilling ma chine into the field. ib BLS EES REWARD—$25.00 Strayed: One bay horse, weight 1400 Ibs., branded on left jaw One be branded__- on left shoulde The above work horses were hobbled. One gray saddle horse branded_ on left jaw. One sorrel saddle horse, branded | on left shoulder, Finder report to Alex McPherson or Sheriff of Natrona County, Casper, Wyoming. 12-3-6t 1200 Tbs. weight —— Tribune Want Ads. bring results. ticular reason for the | The Allen has also taken over the » Structure. It is an) Occidental holdings in the Byron field and will operate the Occidental leases on a contract. The Occidental is busy in the Hamilton Dome field near Ther- mopolis and has centered most of its work the RSSIAN TRADE OBSTACLES TO BE ELIMINATED (By Associated Press) WASHINGTON, Dec. 8.—Further jelimination of obstacles for trade witn | Russia are forecast in an announce- ment of the state department today that Acting Secretary Davis has begun a series of conferences with treasury officials looking to the removal of the embargo on exchange transactions. oo FORMER CHAPLAIN MISQUOTED. “To correct erroneous impressiéns created by an editorial published in cer- tain newspapers criticising Rev. Fran- cis A. Kelley, past national chaplain of the American Legion, for) remarks he is wrongly reported to have made at the recent Cleveland convention, ex- cerpts from the official convention rec- jerds have heen made public by Legion | national officials. In the editorial referfed to, Father | Kelley is quoted as having said that a nation was to be judged worthy of ex- |Istence by its ability to fight, and that the aim of America should be not to be loved but ‘to be feared. His exact words ere entirely dif- ferent. They follow: “One other thing I have advocated, A nation, to be secure, must not or need not curry the love of other na- tions who do not care to give it to her, but this must be done, if we cannct have their love, then we must have their respect through fear. And if we are to be feared, remember that we are not feared because we have mollycod. | dies, because we have men who are able only to raise their conscientious objections at the time the country is in danger.” There will be between thirteen and twenty-five members of the American Legion in the new congress that comes in March. , 1921. New York elected three exservice men to the house of representatives, Texas and Tennessee, two each, and Massachusetts, Michigan, Maryland, Mississippi, South Dakota and Washington, one each. Only three former soldiers and members of the Le- gion failed to be re-elected. They rep- resented districts in New York, Missouri and Kentucky, Protest against any “conscientious objector” or slacker being employed in the service of the government was registered by Kishwaukes post of the American Legion at Marengo, Tl, In a recent resolution. The action of the post resulted from the attempt of a “conscientious objector” to obtain as a mail carrier in their town, The post charged that the offender refused to serve in the army auring the war, and, on learning that he had taken an ex- amination for mail carrier, acted promptly to prevent his obtaining the job. | TIRE SALE $5.00 AND UP We have some of the best brands [on the tarket; 25 per cent discount jon all vulcanizing. Radiator Work—Service Car Anderson Vulcanizing School Rear Masonic Temple (In. the Alley) Lester Brokerage House Specia! lizing in NEW YORK OIL 114 South Wolcott Street Phone 1142 6 500s) Se A TN FLD ES WESTERN STATES OPENS. GASSER Second Producer ‘Uncorked in Deer Creek, Okla., LOCAL OIL STOCKS American 0% 01 Atlas --.-. = OL 303 Bessemer 28 32 Big Indian 400 45 | Boston-Wyoming 88 1 Buck Creek — 20 22 Burke --- 12 15 Black Tail 02 03, Capitol Pete 02 .04 Columbine. ~~ 38 40 Consolidated Ro 145 1,60 Casper Ranger 0% 01 Cow Gulch 09 Domino 4 09 BE. T. Wil 1.18 Frantz 3.05 Gates 80 Great Western Petroleum. 08 Hutton Lake 05 Jupiter 104 Kinney - 29 Lance Creek Royalty — 09 Lusk Royalty - 09 Lusk Petroleum 04 Mike Henry - 09 | Mountain & 89 Northwest Outwest -. Picardy - Riverton F tefining Royalty & Producers - 27 Sunset os = Tom Bell Royaity_-----.-. Western Exploration -. Western Oil Fields -.. Wind River Refining-.... Wyo-Kans Wiyo-Tex cent and 40 per cent, and over $100,000, 20 per cent and 50 per cent or a total tax of 70 per cent. The present maximum rate is 70 per cent on incomes of $1,000,000, but Mr. Houston declares ‘it has “long passed ‘the point of its minimum productiv- ity” since it encourages the invest- ment in tax-empt securities. He fays the “only effective way to tax the rich is to adopt rates that do not force investment in tax-exempt secur- ities.” The new rates, while ‘not laying as high ‘a levy against the great incomes will, the secretary expects, produce a| greater return to the government since the wealthy class will not find it prof- itable to invest in bonds of states, coun- tries or municipalities which are tax- exempt, but pay a lower rate of inter- est. “These possible sources of income Bicycles Velocipedes Kiddie Kars Foot Balls, Punching Bags Casper Sporting Goods Co, Opposite Chamberlins’s The Most Complete Stock of Auto Supplies and Sporting Goods in Wyoming Today’s Markets by Wire Furnished by Taylor & Clay Ground Floor Oil Exchange Bldg., Phones 203-204 Bid Ask | Wester: Of Fields - + Soe NEW YORK CURB CLOSING Midwest Refining Midwest Com. Midwest Pref. -. Amalgamated Royalty ..-... 14 16 Glenrock Oil Salt Creek ~ - | Producers & Refiners Western) States Allen --.-... Cities Service Com. NEW YORK Mexican Petroleum - Sinclair Of} — Pan American Pete Union, Pacific R- ¥ FOREIGN EXCHANGE 085 0) owt 09 ‘e799 | 3%8 =. 105 .07| First’ 4s (04 .98| Secona 48 2.50) F .30| Second 4%s ~ 04| Third 4%s ~ Fourth 4%s ~ Victory 4%s WYOMING CRUDE OIL, MARKET Rock Creek 2.00 405 aeawnesnennacnnasman SEED. eemamnennneecnaan= 2.75 eS SRE ESS TLS ls PilOt Butte .----tenannnceetesomeen, 2:78 Hamilton Dome ~---~--..--------. Mule Creek ---------------------.. 3.05 INCREASE IN INCOME TAXES AND REDUCTIONS IN OTHERS PROPOSED (Continued from Page One.) $50,000, 20 per cent and 30 per cent; $50,000 to $75,000, 20 per cent and 35 per ‘cent; $75,000 to $100,000, 20 per | congress,” Mr. Houston says. I shall not attempt to discuss“them, at- tention should be called to the new and additional consumption taxes. Tica- sons have been given for that no valid objection exists to the employment of a moderate number of consumption taxes but it would, in my opinion, be neither wise nor expedient to increase radically consumption The articles included in the suggested list of additional consump- tion taxes have mot been selected” be- cause their use is particularly harmful or in’ any sense Jess legitimate thar Consumption taxes. must be ‘judged by practical What should be sought are a few consumption taxes which tap the surplus income which is being wasted, not @ conglomerate multiplication of petty taxes upon every article of lux- unnecessary consumption which can neither be clearly @efined, Without widespread evasion.” taxes. ‘ acted and has been found to be wron: whose capitalization is exaggerated. 10 per cent while other taxpayers are subjected to taxes on their incomes ranging as high as 70 per cent. Mr. Houston again urges the neces- sity for rigid economy in government expenditure, asserting that only by con- serving the finances carefully can the expenditures be kept within the $4,- 000,000,000 annually which he suggests should be the basis for a revenue pro- gram. He is hopeful,, however, that with the “heavy burdens placed by the transportation act” out of the way, there will be a _ substantial excess shown by government .teceipts over government expenditures, An analysis of the government ex- Penditures for the last fiscal year de- velopes the fact that almost one-fifth of the $65,400,000,000 paid out was spent in connection with federal control’ and guaranty of earnings for the railroads. Only one department of the govern- ment—the war department — spent more than was used in connection with the carriers. The war depart- ment’s total, the record shows, was $1,611,000,000 against $1,037,000,000 for the railroads. Discussing the war debt and a pro- gram for its retirement, Mr. Houston says that within the next ‘thirty months the government will have to pay off approximately $7,500,000,000 in Victory notes, war savings certificates and treasury certificates of indebted- ness.. He proposed that the treasury certifieates not be funded further; that they be retired as rapidly as the treas- ury’s conditions permit so the program fer redeeming other governmest obli- rations will rot be hampered by simul- taneous payments. : Mr, Houston tells congress that the heavy payments required by the trans- portation act had “‘disarranged the gov- evnment’s fiscal plans” but he believes early spring. will witness final settle- ment of the claims of the railroads un- der the guaranty provisions and that tificates, amounting to $800,000,000 and the Victory note issue which aggre- gates $4,500,000,0007 + Through operations of {the sinking fynd, use of the small repayments by foreign governments on loans. and the employment of certain salvage returns t> the treasury, it has retired $1,764.- $96,150 in bonds, Mr. Houston says. srving $100,000,000 on the transactions the amount purchased bonds aggre- gating $119,109,000 were retired from funds repaid by the foreign govern- ments. ‘Lessons of the world war, Mr. Hous- ton says, have shown the need for the transfer of some of the treasury activi collected _ nor administered ' Bring Christmas Cheer. © America is a nation that loves to play. It likes the spirit of friendly contest and loves the great outdoors. Particularly at Christmas time does a gift from our Sporting Goods store receive a hearty welcome. ~ Whether your friends or relatives like to play golf, tennis, baseball, football, hockey, basketball or gymnasium work we have the necessary accessories to outfit them in complete style. 7 And bear in mind that whatever you choose from this store bears the mark of highest quality. Let us quote you prices on all afittomobile ac- cessories. Coaster Wagons Hand Cars Horsie Toddlers Ammunition Basket Balls Boxing Gloves W. Yellowstone Ave. The: repeal of the tax on soda foun- tain and other beverages is asked, the secretary says, because the collection of the tax, the aggregate of which is small, “presented an administrative! j problem $f magnitude. Added to that, Mr, Houston: says, there has been con-} istant and widespread evasion of such nerd ¢| His“own req ‘The’ excess profits tax, Mr. Houston declares, has not, fulfilled the theoret-|, ical grounds upon which it was_en- tion, of, the ‘urges sin le Mie placed under other both in theory.and in political philoso- phy. He says it discriminated against the conservatively financed corpora- tion while aiding materially the HiT 6] urges that it be replaced by some form of @ corporation profits tax ‘not only on the grounds of’ the government’s revenue needs, but upon grounds of| equality and justice.” The corporation profits, the secretary continues, should not be allowed to escape with a tax of amount, approximately $163,000,000 has obligations of the foreign governments will take, Mr. Houston says, but he! serves, under the direction of Miss recommends they be allowed to extend) Helen Wells, will present a pageant the treasury then can proceed with ita) previously announced program of meet-, ‘= and retiring the war savings cer-+ by buying in the open markets. Of, ties to other departments. Five bureaus, | war risk insurance, prohibition, public acess IW CHURCH ON DAY OF MAS. EDDY'S WIGIT HERE c ‘The request, he adds, is ‘un’ for any other executive ent “have been willing to dismembered. and the. general committ are { we 7 in no ‘way, par aie ecals opel F { UR u see their ar -s@cretary asks that} « ) under secretary of the} Welfare Club on Friday afternoon, 1}, club will hold its meeting of that at, 4 ernoon in the Methodist Church. Tho in the salaries of the assistant secre-| business meeting of the church will },, held from 2:30 to 3:30, after which Mr... Eddy will speak. All women are ; for the address, which 3 at a salary of $10,- 000. ends also an increase taries from $5,000 to $7,500, Mr. Houston strongly urges the establishment of a. federal budget sys- tem, declaring that unless such a plan vited to come is sure to be of great interest. js adopted the financial burdens of the} Mrs. Eddy, ‘who is a national secro. people will be greatly inereasedytary of the ¥. W. C. A., has been in through “the piecemeal ‘methods offthe West Central field: since November handling appropriations without regard for or relation to income of the gov- ernment.” Reviewing the loans to foreign gov- ernments, Mr. Houston says the Ameri. can government advanced in cash tween April 24, 1917, and November 15,| she will go to Cheyenne and then to 12 and hes ben greeted “by 1920, a total of $9,580,823,677, Of this Salt Lake City. been advanced since November 15,1919,; . Of a pleasing personality, Mrs. F under credits previously established to France received $110,000,000; Italy $2 416,000; Greece, $15,000,000; Belgium. $10,469,000 and: Czecho-Slovakia, $8 566,000. . termination as to the fo! which the| ess for the occasion. until June, 1947, at which they must) showing the manner in which be paid under existing law. The for-|4ight 1s being carried from country to eign governments, the secretary says,| country by the ¥.W. C. A. and fol- should be given every advantage to prepare for the payment by whatever] hor subject being, “The Y. W. C. a. arrangements they deem best suited tO} in Japan.’ their ‘individual requirements. WARRANTS FOR CAPSULES COLLECTION OF TAXES SERVED (By United Press.) . CHICAGO, Dec. 8—Warrants for bootleggers, brewers and violators of the Volstead act, aimed at the collec tion of $5,000,000 in delinquent taxes assessed against them will be served today by internal revenue agents. Ads. . That all who desire may here Mr< Katherine Willard Rady in herstark ¢,, crowds wherever she has presented the work of the ¥, W. ©. A. in other lands, She comes to Casper from Greeley, Colo., where she will Speak Yor both the town and the college From hers dy presents the forejgn work of the is,Jassociation in a mest convincing way five foreign governments, Of this,} Following her aduress for the Wel. fare Club Mrs, Eddy will be the guest of the directors of the Y. W. Cc. at,a tem in the association building. The treasury has yet reached no de-|,Mrs. W. M. Holland will be the host- In the evening at 7:30 the Girl Re- lowing this Mrs. Eddy will again speak, For Safety and Attractive Yield We Recommend Security - Brice | Approx. | Yield COUNTY OF DENVER, se r= peace No. 1, 5% School Building Bonds According to Maturity 5.00 It would be difficult,to find: an '- investment with a higher degree ot safety. CITY OF BERNE, SWITZERLAND 25-year 8% Sinking Fund Gold Bonds .... Beret -eoene $99.00 . 8.10% After five years’ time the bonds are redeemable on any interest date at the option of the city in whole or in part at 107 and in- terest. NATIONAL LEATHER COM- PANY, 5-year 8% Gold Notes.....$100.00 8.00% The Company’s sales for 1919 were in excess of $88,000,000 SEARS, ROEBUCK & COMPANY,, rm 7% Serial Gold Notes ...... bal 1921 maturity $99.20 9.85% 1922 maturity $98.72 1.70% The Corporation’s earnings for 1919 equaled 5.83 times'the annual in- terest on these notes. We will be pleased to send you further informa- tion concerning any of these securities, or a card to our Mr. I. W. Dinsmore at the Henning Hotel will place him at your service. BOETTCHER, POR'TER & COMPAN INVESTMENT BANKERS , TELEPHONE MAIN 194 Gas & Evectnic Bupa, Denver, CoLorapo Taylor & Clay Incorporated CASPER, WYO. Ground Floor, Oil Exchange Bldg., Casper, Wyo. Phones 203 and 204 Local Oils Bought, Sold and Quoted NEW YORK STOCKS AND CHICAGO GRAIN MARKETS Direct Over Hutton & Co. Private Wires UATE TT SUTRAS ATTHTTTATTT