Casper Daily Tribune Newspaper, February 4, 1921, Page 7

FRIDAY, FEB. 4, 192T Daily Cribune WARKET GOSoIP AND FIELD NEWS: N.Y. IL EARNIN 65 ARE GROWING The monthly income of the New York Oil company, which ee was but $40,000 monthly when the last report was prepared, is now $155,000 a month, with prospects that it will be dou- bled this year, according - toa statement given out in James+ town, N. Y., by Frank G. Curtis, president of the company. The impounded moneys f rom 160 acres in the Salt Creek field released when the government issued a lease several weeks ago and Just equally divided between the New Work Oil company and the Olilo Of company amounted to about $800,000. This was from the NW% of 27-40-79, which produced over 33,000 barrels of oil last month, \ New York Of] has now had favor- blo action upon seven claims in the Salt Creek field aggregating 1,040 acres, Thero is considerable inipound- ed money belonging to New York Oil from two of these claims, namely, the SW% of 2-39-79 and the NW% of 36-40-79. The- latter claim is the James H. Bury claim that was se- cured to start the New York Oi] com- pany in July, 1913. It is in the heart of the Salt Creek field. From the SW% of 2 mentioned there is about $115,000 net impounded money com- ing to New York Oil. The secretary of intmrtor signed a lease last Wednesday on 160 arres mear the heart of Salt Creek upon which the New York Oil.company has bout a 24 per cent interest. This is he NW% of 1-39-79. The secretary of interior has ep- proved leases on the NW% of 12 and the SW% of 12-39-79, Salt Creek, in which New York Oil has a 12% per cent interest. ‘The Casper refineries are now daily consuming sixteen million cubic feet of the New York Ofl’s fuel gas, which is to be increased fo thirty million cubic feet under contract. The elec- tric light plant of Casper is usiniy over a million cubic feet of fuel gas per day to be increased to a million and a half. Other sources in Casper are consumng over a million cubic feet of gas per day. A new oil well in the Lance Creek field, which proves about 200 acres; 4s flowing over 500 barrels of vil a day. The New York Oil company lias @ substantial net interest in this product. Howard Carnahan of the Midwest Refining company at Salt Creek, passed through here today enroute to his former home in Oil City, Pa., where he was called by the serious illness of his father, Mr. Carnahan, Sr., is one of the pioneers’of the early days of the oi] business and is ‘Well known to almost every man from the Keystone state, Buck Creek Report The report of the Buck Creek Of company for the period between May 19, 1917, and December 31, 1920 shows that since its incorporation in the former year the company produced 218,400 barrels of oll from its prop- erties in the Lance Creek field. The company in that time drilléd thirteen * / wells, of which five are producing oil “at the rate of 397 barrels @ day. It 1919 the ‘company’s revenue, before deducting royalties, was $195,214, and in 1920 was $356,172. % At the end of the period’the com- pany had properties valued at $3,- 692,900 and current assets of $582,201, a total of $4,275,102. Liabilities consist of $3,000,000 in stock all outstanding; current liabilities of $29,706; reserves for depreciation and depletion of $512,917, and surplus of $732,477. The Profit and loss deficit at the end of the period were $107,310. - Decline Hits Stocks The drop in the crude market, ac- companied by the reduction in kero- gene and gasoline prices has shown @ direct reaction on the local oil Stocks. Several well known issueshave fallen to new low levels. E. T. Wiliams Oil showed the most severe decline, dropping to sales at 90 ‘with a recovery later at 91 bid, Moun- tain and.Gulf dropped to 77 bid after sales last weck around 91 cents. Bos- ton-Wyoming sold at 91 after reaching $1.02 a week ago, and Western States slumped to 30 cents bid from a mark of 36 cents on Wednesday, Reports were "in circulation that an- other cut in crude prices is due in ‘Wyoming but this is denied by the largest purchasers who intend to re- tain present quotations unless it should be seen that refineries cannot pphold the gasoline market at its pres- ent stage in the face of competjtfon from the Oklahoma independents, In the event it becomes necessary to ro- @uce the refinery price of gasoline an additional 15, cents will be taken from the posted crude prices, thus meeting the latest reduction in Mid- Continent. Reports from Oklahoma gnd Texas indicate that price cutting is at an end, and producers are cheer ful regarding the outlook for the year. ‘The E. T. Williams Oi] company has afnounced its test at East Bragge, ‘Texas, at 3,005 feet, the contract with the owners of the lease having been completed when a depth of 3,000 feet ‘was reached, without favorable re- sults. The Elk Basin Consolidated Petroleum company, which is operat- ing on a similar structure at Hamtl- ton, Texas, is drilling at 2,700 feet, 4nd will continue the hole at least 300 feet deeper than the point at which the Williams well was stopped. Ferris Field Line Complete The pipe line from the Ferris field $nto Fort. Steele has been completed by the Illinois Pipe ‘Line Co. and is now earrying crude from the Ferris field, the main shipments came from The General Petroleum and the Producers and Refiners camps. ‘This line is a six inch line from the Ferris field to the point where it Joins the Lost Soldier line and then it is a four inch pipe on it to the fatiroad. ‘The Pipe Line Co. has plac- 37,500 barrel storage tank at the tion point and the line is power- @d by oll engines that shove the ofl through the line. "Tater on it is expected by the op- @rators that the six inch line will be extended to Fort Steele by paralleling the Lost Soldier four inch line witn a new six inch ptpe and there will then be two lines over the right of way instead of one. Jewelry and Watch repairing by ex- pert workmen. All work guaranteed. Caspor Jowelry Mfg. Co. 0-8 Bldg. REGULATION OF OIL SPREADING === Epidemic of Proposed Legisla- tion Extends to Montana, Is Report ‘The Wyoming legislature is tryin; to put a finger in the ple of oil field regulation and Montana now seems to be waking up to the fact that pos- sibly there is a chance for that state! ¢ to come forward with some sort of rules to regulate the oil business in that region and incidentally bring a larger share of the profits into the state treasury. Miles City is well without any oil productive area, yet the Chamber of Commerce of that place appears to feel called upon to urge the Montana legislature to pass laws regulating the oil business, while Fergus county is wary of any such legislation, as this division of the commonwealth has the main oil production of the state within its borders, Fergus county is particularly inter- ested in the prospect for oil legisla- tion at the coming sessiun of the as- sembly at Helena, It is hoped the lawmakers may see the whole matter of oil development in its true light, remembering that the industry is lt- erally in its infancy and that it will bring about a realization of the hopes now entertained. There is need for legislation, and it 1s hoped this will be of'a character to encourage develop- ment. Miles: City, though without any pro- ductive area adjacent to it at this time, is very heavily interested in oil and {ts Chamber of Commerce has just ‘adopted the following bearing upon that industry in Montana: “Whereas, Montana is confronted with a wonderful opportunity for rapid development of her oil resources owing to the splendid showing already’ le in the explored fields; and,- "Whereas, the larger oi! exploration companies of the United States are now planning on coming into this field and taking a hand in the development’ of our oil possibilities, which should be encouraged if ‘Tapld Progress is de- stred; therefore, » “Be-It Resolved, that the Miles City Chamber of Commerce respectfully urge upon the legislature of the state of Montana that special attention be paid to the passage of oj laws which will protect the rights of the state of Montana and which will also permit of the most rapid development of oil resources; that expert advice be ob- tained in order that the laws as formed may embody the best features of legis- lation passed in other states and that their mistakes may be avoided. It is our belief that this question is of the the most tremendous importance at the present time. Jae Ae NOTICE TO SHEEP MEN. ) Register for 1921 shearing at Bish- op is now open at the Richards & Cunningham store. Please register at your earliest convenience, so we will know amount’ of sacks to order. THE BISHOP SHEARING PENS. 1-53-30t pa A ey BLUE SKY LAW PASSED. AUSTIN, Texas, Feb. 4—A new blue sky bill patterned after the Cali- fornia law, was pfissed in the Texas senate today. The bill creates a se- curities Somme Lise CRUDE OIL CUT REPORTEDFROM KANSAS FIELDS (By Associated Press) INDEPENDENCE, Kas., Feb. The Prairie Ol! & Gas company ¥y announced another 50 cent cut in the price of Mid-continent crude ofl, This brings the price down to $2 a barrel. With the exeception of the Prairie Oil & Gas company, the old price of $2.50 per barrel was being paid today for oil in this territory. The reduction of the Prairie company reported ‘from Independence, however, the other big concerns said, likely would be followed by a similar reduction to $2 on their part. ‘Today's reduction is the third 50- cent drop in ten days. Drilling operations in this field have. virtually ceased since price cuts be- | LOCAL OIL STOCKS 12 13 roan own enna nnn een ee OT Big Indian ..2.......000. 33 38 30 take the investment of millions to]: +95 ~ ..28 19 08 03 40 1.21 02 -10 209 12 92 2.80 42 07 204 Jupiter ---..-...-. 04 Kinney ..-.. os 22 28 Lance Creek Royalty-.-. .08) 10 Lusk Royalty -...-------- 07 C9 5 | Lusk Petroleum... .08 Mike Henry 08 -70 38 01 07 107 22 06 ‘Tom Bell Royalty -. 04 07 ‘Western Exploration 1.90 2.00 Wind River Refining 01 02 Wyo-Kans Baeye et : 2.20 03 ~ 04 22 25 a2. a4 lance CLOSING Midwest Refg. .—-...$136.00 $138.00 (‘Midwest com. 1.50 3.00 $12.50 2.42 28,00 50 5,00 650 8.00 12 337 Cities Service Com. .. 255.00 260.00 8. O, Indiana --...... 66.50 68.00 NEW XORK STOCKS Mexican Petroleum ..$153.5@ $165.50 {Sinclair Oi 22.62 (28. Texas Oil . 42.12 42.50 | Pan-American 72.25 78.50 | USS. Steel .......... 8187 81.75 | Union Pacific R. R... 118.00 © 118.50 FOREIGN EXCHANGE Sterling [Francs 1 Marks Lire BUS ..... Ist 48 2nd 4s ..... Ist"44s 2nd 4% Srd 4K%s . 4th 44s . Victory 4%s WYOMING CRUDE OIL MARKET Torchlight ---.-.-----.. Elk Basin .. Rock Creek. Salt Creek . Big Muddy Pilot Butte Hamilton Dome --~---. Mule Creek -~..-.. FORMER WIFE OF GEORGE M. COHAN ARRIVES WITH AVIATOR HUSBAND AND DAUGHTER.—Left to right; Mrs. Claude Gra- ham White, form Ethel Graham White her M. Cohan photo; NATRONA DOUGHNUT. SHOP CHANGES HANDS TODAY Delicious, flavory doughnuts with teeny weeny holes will hereafter be vended by Clarence N. Francliville who yesterday purchased the Natro- na Doughnut Shop at 151 South Wur- bin sreet from EB. B. White. | Mr, Franchville will be assistett in’ the conduct of the. shop by his ister, Mrs. Emily Braden, who has heen u clerk in the Casper Steam Bakery and who was formerly employed in the lunch deparment of tie Smith- Tiirner drug store. p Enlargement of the scope of the shop is contemplated, inclnding the serving of chili, light lunches and home-made pies, and also, the exten- sion of their wholesale business. They will keep the place open in the even- ing s& as to permit parties after the picture shows. Mr. White's future plans are a9 yet undetermined. Negotiations were made through Harold Kramer of the See Ben Realty company. —————— Tribune Want Ads bring remits. former M, Cohan, usband and Miss Georgette Cohan daughter of George graphed on their arrival here aboard WITH FAMOUS wife of George Ctsude the S. S. Imperator. INVESTIGATION OF CRUDE CUTS |: (By Associated Press) OKLAHOMA CITY, Okia., Feb. 4.— Investigation of recent reductions in crude oil prices and activities of pipe line companies is authorized in a res- olution adopted by the Oklahoma House yesterday. The resolution charged that pipe line companies were accepting only half of the oil offered them and were charging | “exorbit- ant rates” for storage. Unless she is fat enough to be in a sideshow a girl will never admit that she is more than plump, CHARLES J. STONE Petroleum Geologist Reports and Surveys WINNETT, MONT. officers. ‘Attention ELKS There will be a regular session of the Lodge on Friday evening, February 4, at Odd Fellows Hall. Regular business and nomination of By Order of E. R., ROBERT COHEN, Secretary. ‘ IS SUGGESTED WHEAT PRICE LUMP INS. A Severe Break Recorded in Ar- gentina During Week;. Chi- cago Action Ridiculed (By Associated Press) BUENOS AIRES, Feb, 4.—Wheat futures have broken severely in the bolss. de commercio here during the past week, prices falling the equiva. lent of 30 cents per bashel, on the tremendous speculative turnover equai to 2,000,000 bushels per day. it is asserted that Argentina is be ginning its great annual crop move- ment, with a surplus for exportation | 4,7 estimated at 3,500,000 tons of whent, and that this country is a dominating factor in the world’s grain market. | The docision of the Chicago Board | 00 |Of Trade on Wednesday to discontinue the posting of Argentine grain quota- tions {s characterized by members of the bolsd as equivalent to an ostrich hiding his head in the sand. Local sppculators today brought ‘for- ward North American statistics show- ing the world's whent production ex- ceeds consumption requirements by 170,000,000 bushels. European buyers at present refuse to enter the market here, chiefly it is said, because of the uncertainty as t whether the Argentine government will reimpose the export surtax on wheat. It is declared that prices of wheat here represent the true situation, Brokers on the bolsa today greeted with fronic cheers‘and jeers the arriv- al of Chicago quotations showing big declines, JAPS INSIST ON GERMAN TITLE IN YAP (By Associated Press) TOKIO, Feb. 4.—The Japanese gov- ernment has insisted from the start that Japan is ontitlea to German rights and interests in the island of Yap, and this policy will be followed, said Viscount Uchida, the foreign minister in the Diet today in answer to an inquiry by Representative Ko- taro Mochizuki concerning the out- come of the negotiations between Jap- an and the United States regarding disposition of the Yap cable, and also the nature of Japan's .policy in the United States regarding disposition of the Yap cable, and also the nature of Japan's policy in the premises. M. Mochizuki asked if the govern- ment did not think it advisable \to publish the contents of the revis- ed “Gentlemen's Agreement” with the United States. To this Viscount Uchida replied that such publication ‘was undesirable as no formal agree- ment had ben signed, although the empire had agreed on its honor to re- strict emigration to the United States. ae ae dap Beauties Coming .to U. 8S. TOKYO, (By Mail to United Press) —The United States will this year have an opportunity to enjoy the sight of a trio of Japanese beauties, as such @ set of gracps is to be sent to the Silk Industrial Exhibition to be held there. The girls have been selected from among the employees of the silk fac- tories throughout the Empire. Beauty was, however, not the only point con- sidered by the judges, wHo also took into consideration health, intelligenco, and skill in displaying silks. ————_ NOTICE. On and after the 10th day of February all owners of motor ve- hicles who ‘have not secured 1921 licenses will be prosecuted without! further gS ed, LEE MARTIN, “Sheritt Natrona County. ie Hi q Publish Feb. i i Livestock Mart | CHICAGO, Feb. 4—W. of Markets}—Cattlo—Recel| beef steers, active, top heavies, $9.3 bulk beet steers, $7.25@8. cows and heifers, strong to 250 hish- er; bulk, $4.75g96; bulk canners and cutters, $3@4;. bulls and veal calves steady; bulk veal P11; stockers and feeders steady. * Hogs—Receipts, 43,000; lights ac- tive; steady to 10c lower; others slow, mostly 100 lower than. yesterday's average; top, $10.85; bull 200 pour. down, $9.95@10.20; bulk 220 pounds up, $9.85@9.60; pigs, steady to 30c lower. Sheep—Receipts, 9,000; strong with yesterday's above low time top lambs, bulk, $9@9.75; bulk. fat owes, choice 107-pound = y S. Bure: steady to close, _50¢ $10.20; 31@ Hings, $6.26. HEAVY SELLING IN GRAIN MART European Accounts Unload With Depressing Effect on Wheat Prices (By . Associated Press) CHICAGO, Feb. 4.—Selling that ap- STOCKS SLUMP, MANY RECOVER Heavy Selling Pressure at Open- ing of Market Is Overcome Before Noon (By Associated Press) NEW YORK, Feb. 4.—The stock market was under further selling pres- sure at the active opening of to- day's session, Crucible Steel was the conspicuous feature, the first sale of 600 shares down to 874% showing an extreme loss of 2% points. At this level, supporting orders soon forced the stock back to a fraction above yesterday's close. Other steels were extremely irregular as were also oils shippings anc rails. Tobaccos and var- ious specialties were reactionary, In- ternational Paper losing 1%. Firm- ness was shown by Mercantile Ma- rine preferred, United States Rubber and Sears Roebuck, Dealings on the stock market dur- ing the morning were larger and broader than at any similar period this week. but the activity was main- ig at the expense of values. Equip- ments were the center of a series of | attacks. Motors and oils added to/ early declines and independent steels! continued to lose ground. Rallies be-| fore noon were featured by Reading | Texas & Pacific, Atlantic Gult and| Royal Dutch. In a number of cases losses were fully recovered. Call loans/| opened at 8 per cent, that rate also applying to renewals. Foreign ex- peared to be largely on European ac- count had a bearish effect today in the wheat market here. As a result May delivery fell to the lowest price yet for the present crop. Initial quo- tations which varied from| unchanged figures to 1% cent higher with March $1.63 to $1.58% and May $1.42% to $1.44 were’ followed by a material: set- back all around an} then something of a rally. Subsequently, inserition of higher wheat duties in the emergency tariff bill together with an upturn in export bids helped the market to advance. The close was firm, %c to 1c net higher, with March $1.52% to $1.52% and May $1.44 to $1.44%. Corn declined with wheat, After opening % cent off to % higher in- cluding May at 64%c to 64%c the market underwent a moderate general sag. Oats were depressed by the action of other cereals, starting % cent low- er to a like advance May 4lc to 41%e and then receding for all deliveries. Weakness of grain and hogs pulled down provisions. Grain Closing. CHICAGO, Feb. 4.—Close: Wheat—March $1.52%4, May $1.44. Corn—May 65c, July 66%c. Oats—41\c, July 42%c. Pork—May $22.25. Lard—May $13.05, Ribs—May $12. Provisions CHICAGO, Feb. 4.—Butter, lowe: ceramery extras 45c; standards, 44: Eggs, lower, receipts 10,885 case: ifrsts 45c; ordinary firsts 42@48c; ut mark, cases included 43@44c, Poultry, alive, lower fowls springs 29%%c. Potatoes CHICAGO, Feb. Potatoes, unset- led; réceipts 34 cars; Northern White sacked $1.00@1.15 cwt.; bulk -$1,20@ 1.25 cwt.; Wisconsin Kings sacked $1.00@1.05 cwt. 28; : eceeo Trappers, Attention! ry Wanted, 3,000 coyotes’ to fll $ our order, e e WYOMING HIDE & METAL $ COMPANY s 516 W. Yellowstone Ave. © Casper, Wyo, (We know that your underreaming can be done for less! if with a Swan Underreamer than any other. hi il rent one from he, Bridgeport i ql Bridgeper Malo Office quae one our s! OUP UY all ll ¢ nit Factory: Marietta, Ohio Hin Worth, Texas ii Mack bani ons | | change was dull and irregular, . Silver NEW YORK, Feb. 4.—Bar stlver, domestic 99%c; foreign 60c; Mextica dollars 45%c, Money Market. NEW YORK, Feb. 4.—Prime mer- cantile paper, 7c. Exchange irregular; sterling de mand, $3.83%; cables, $7.94; Micrt=os!, 11% per cent discount. Time loans, firm; 60 days, 90 days and 6 months, 7 per cent. Metals, NEW YORK, Feb. 4-—Copper— Dull; electrolytic spot and first quar- ter, 12%c@13. Iron—Unchenged. Tin—Firmer; spot and $32.50@32.75; futures, $33@34. Antimony—Spot, $5.25@5.62. Lead—Dull; spot, $4.75. Zinc—Easy; East St. 3! nearby, Louts deliv-| Oil Field Maps Blue P Explorations Reports Wyoming Map & Blue Print Co. P. O. Box 325 Rm. 10, Patronize home industry and” beat the H, C. L. Good clean lump coal at $10.50 - per ton, Delivered anywhere in * Casper, bs H. A. POLAND Phone Orders 1545. Office: 124 W. Second St, $5-FREE--$5 Have your suit cleaned and pressed and get $5.00 Coupon Free on New Tailor-Made Suit I will split profit with you. This offer is good ‘till March 1, 1921. We will call for and deliver your clothes promptly, First- class work guaranteed. We do hand pressing only. TIM, THE TAILOR and Cleaner 143 South Center Phone 467-R. FORM LETTERS, NOTICES, BULLETINS, ETC. Printed on the MULTIGRAPH 24-Hour Service Multigraph Service Co. 220 So. Wolcott St. Opposite Postoffice Phone 1155 GASOLINE 30c Another Slash at the High Cost of Living Coliseum Motor Co., © Fifth and Wolcott DODGE BROTHERS MOTOR CARS Cedar Street Market and Grocery P. L. EDGEINGTON, Proprietor Phone 642-M. 926 S. Cedar St. TWO DELIVERIES DAILY No. No. 2 Tomatoes, good grad No. 214 Tomatoes, good grade, 2 cans for. 2 Tomatoes (fair, not puree), 2 cans for____25¢ e; per can 15c¢ 35c No. 21% Peaches, halves, per can_._....____...___.40e No. 10 Crushed Pineapple, Small Quaker Oats, per box. Puffed Wheat, per box... Puffed Rice, per box. Blue Seal Coffee, per Ib... Radishes and Onions, per bunch. Head Lettuce, per head... per can. 15¢ Turnips, Rutabagas and Carrots, per 10-Ib. lot...50c Onions dnd Cabbage, per 10-Ilb. lot... ane SS Oranges, all sizes, first grade, per doz.....25¢ to 55¢ Rome Beauty Apples, face Gano Apples, face and fill, BUTCHER SHOP IN CONNECTION Good Quality Meats at the Prevailing Prices and fill, per box... $2.85. per box.______§_$2.60 / s Taylor & Clay (Incorporated) CASPER, WYO. Ground Floor, Oil Exchange Bldg., Casper, Wyo. Phones 203 and 204 New York Exchange Stocks Chicago Grain Markets Local Oils Bought. and Sold