Casper Daily Tribune Newspaper, February 26, 1921, Page 9

4) SATURDAY, FEB. 26° 1921 WMRKET GOSSIP AND FIELD NENG) roars Marken CRUDE PRICES REGUGED WN EAS PITTSB' and other grades of crude oil a chasing $1.86 ; Somerset to $1.65 and rel, a reduction of 20 cents on «Poison Spider Test Drilling. The New York Oil Co. well that is to deep test of the Poison Spi- Her field and which is expected to Feach the Red Beds under the sands that are now making the oil in the ‘The well is about 800 feet down now and in shale. . This test is expected to discover deposits of heavy crude under the sands now making oil in the Spider and should the horizons be found pro- ductive. as expected the oil men con- sider tha. ¢h<= amount will be great- ly in excess of any well or produc- tion found to date in that part of the country. 1 — * Herman Curtis on Trip Here. Herman Curtis of the New York Oll Cos is in Casper for a few. days looking after business matters con- nected with the New York interests in_the Big Horn basin country. Mr, Curtis is a brother @ Frank G. Curtis, the head of the New York here and he looks after the firm's ‘work in “Ee Basin country, Cat Creek Well Drilled In. \ Another well is reported from the at Creek field of Montana. This is the Big Lehman well on the west dome of the field and the reports state that it is showing for one of the best ever brought in in the Cat . Creek area. | This strike makes the West Dome eu oat Creek look up a little be- for a time it was thought from they way the wells were coming in on the Hast Dome that the West Dome would not amount to much but later drillings show that the West Dome will probably show up as well ‘om even better than the east side. Big Gasser in Colorado. | The well of the Plateau Oil cor- poration drilling at Steamboat Springs, Colo., has come in with a 4,- 000,000-foot gas flow of very wet gas an effort is being le to Braden- .the gas off and tifen drill thru Springs country even if no oll should be found there. Big Wildcat Year: Ahead. in good title and which has been passed upon by some good geologist. ‘There for oll to have been contained them. About 2,100 filings have been re- corded in Utah during the past year “and more are being made daily. Some filings have been blanketed over pre- vious ones in particularly good spots and lawsuits are thought probable from these localities. | The Ohio Oil Co. is the earliest of the firms to get started in actual ‘drilling operations/and this firm now has three rigs drilling with several ‘more in prospect. One of these rigs is located in the (Circle Cliffs region, another is oper- ating near Caineville, while the latest to be put into operation on what is known as the Huntington dome, and at a point about three miles in a _morthwesterly direction from the ore of Huntington, in Emery coun- ‘This dome ts comparatively small in dimensions, being about seven ‘miles in length and approximately two and a half miles in width at its widest part, but it is declared by ex- perts in the employ of the Ohio and other large companies to be decided- ly promising from a production stand- int. It is the expectation that the Fer- ron sand, which has been correlated with the producing Wall Creek of Wyoming, will be struck at a depth of about 1,800 feet. | The well was started with a 20-inch holer and after four lengths of cas- ing of this dimension are used and cemented in, 15%4-Inch casing will be ‘tised. This will enable the company to drill to any practicable depth and Established 1880 J. Q. Jackson, Mgr. this year. so at once as the followi 12 feet in height. Residence 510 S iz to an announcement agencies here. Pennsylvania crude was cut 25 cents A barrel, making the new prices $3; Cabell was reduced to Somerset Light to $1.80 a bar- these three grades a barrel. | The Colorado Nursery Co. (There has been a big demand for large trees If you have not placed your stock that we will have for i i 100 Extra Large Cottonless Extra Large Carolina Poplar, 50 Large Elms. These trees are:all 2.to 3: This is the last canvas before spring delivery, which will be inade about April 1, 1921 your orders ready and J will call for them. S. H. PUNTENNEY General Sales Agent . Park Ave. were further reduced today, made by the principal oi! pur- during which several extensive sands known to exist would be encountered. Aside from the three rigs now be- ing operated by the Ohio Oil Co., the only other active development work pow under way comprises the drill- ing of two wells near Duchesne, in Duchesne county, by the Uinta Oil and &xploration Co. Tho Old Emery Oil Co., ated by Salt Lake and Ogden cay talists, now is engaged in transport- ing a rig to the northern end of the San Rafael Swell, and .it is confident- ly expected by officiats ot the com- pany that drilling operations will be started within the next thirty days. Several othef local companies, now Operating as metal mine concerns, are completing arrangements for drilling operations in one or more of the several fields, while plans already have been adopted by a number of the largest producing companies of the country for extensive development Operations, to be started within the next two or three months. Practically all of the big companies of the United States and also at least one foreign concern have acquired holdings of’ prospective oil lands in eastern and southeastern Utah. They include the Carter, the Kasoming, the Standard Oil of Indiana, the Doheny interests, the Sinclair, the Midwest, Utah Oil & Refining Co. and the Leonard Petroleum Co. of Pennsyl- vania. The Ohio Oi} Co., whick has exten- sive holdings in the San Rafael Swell and in the Circle Cliffs districts. re- cently has acquired lands in the Duchesne district. The Jand on which the company is drilling on the Hunt- ington dome is patented ground and has been acquired under leasing ar- rangements, The Carter Oil Co., which also is of the Standard Oil group, was tho first among the big companies to obtain holdings in the San Rafael Swell. It also has holdings in the Circle Cliffs district and now is engaged in ac- quiring land in San Juan county. The Utah Oil & Refining Co. is re- ported to be planning the develop- ment of land acquired on what is known as the Farnham dome, located a few miles southeast of Price. The development of the Huntington and Farnham domes, together with geveral other smalier structures whose existence is known and which Ue north of the San Rafael Swell, will be watched by ojl men general- ly with almost as great interest as the prospective work on the swell Proper, as it is expected to show the possibilities of the theory that the great expanse of territory outside of the swell and Jying both in Emery ‘and ‘Carbon counties’ will prové Prospective oif lands. * It is stated that leases have al- ready been acquired for several of the larger companies interested on patented lands entirely off the known structures and in anticipation that eventually they will become valuable as oil holdings, ‘The Carter Oil Co, and the Inland ,| Oil Co. have made application for all lands bordering on their holdings i1 the Moab, Utah, field, and work has been suspended on the Big Six well at 1,100 feet. The drill has struck what is believed to be the caprock, which geologists placed at 1,200 feet. There is considerable excitement in western Colorado and eastern Utah, as the Moab field extends over the Utah line into Colorado, for the be- Nef prevails that the oil companies are confident of striking oll, which ac; counts for their application for lands and for suspended drilling. A num- ber of Grand Junction men are said to be interested in lands in western Colorado believed to be of oil bear- ing. Oil Man Meets Pea bier eo Ww. ‘Teagle, president o: - ard caliaeenee of New Jersey, has gone to St. Augustine at President- elect Harding's request, and it is un- derstood that matters connected with tho merchant marine and especially with the make-up and organization of the new Shipping board that Mr. Harding is to nominate were under discussion. Men of the type of Mr. Teagle, Alexander Leagge and Eugene Mey- er, Jr., have been strongly advocated as candidates for chairman of the board by important commercial in- terests, who hold that such men com- bine the qualities most needed for pesasta Aiba isan ERED SOE CHARLES J. STONE Petroleum Geologist Reports and Surveys ‘WINNETT, MONT. i Incorporated 1907 Loveland, Colorado order, do includes all of the large delivery. ttonwood, 100 inch stock and about . Have Phone 760-3 ‘ LOCAL OIL STOCKS Amalgamated Royalty ...$ 10 $ 12 12 OL 35 O11 0s 06 Frantz .... Gates ... Great Western Petroleum. Lusk Petroleum Mike Henry” .--. Mountain & Gulf . New York Oil .. Northwest ~-------.-... Outwest _ Picardy -_-. Riverton Refg. . Royalty & Producers. Sunset ase Tom Bell Royalty. Western Exploratio: | Mexican by Wire Taylor & Clay 02 STOCKS Petroleum .. .$157.00 WYOMING CRUDE OIL. MARKE: Grass Creek ’__--_- $1.75 Torchlight --.-.--.... 1.75 BEC BAG clccewinneencssen 1:95 Greybull ~~~... the office—broad vision, ness, and thorough acquaintance with international commercial and finan- resourceful- cial problems. Details of shipping policy and Gperation of the board's tonnage could safely be left, it is be- lieved, to the other commissioners it Mr. Teagle was at the head, Mr. Harding is known to estimate highly the importance of the Ship- ping board, and is desirous of having men of unquestioned ability in charge of its work. His task of choosing these men has been made difficult, it is said, by a conflict of interests with considerable power in the shipping business. Ship operators and ship- owners are at odds over fundamental question of policy, and representa- lives of the large Atlantic porta, such as New York and Philadelphia, are no less in disagreement with men from South Atlantic and Gulf ports. Each of these groups have favorite candidates to advance, and have weighty arguments to show why any | others will be unsuitable. It is said that Mr. Harding has not definitely decided on any Shipping board ap- pointments. NEW YORK, Feb. 26.—The Texas be} & Pacific Coal and Oil company to- day omitted action on its regular quarterly stock dividend of two per cent, but declared a quarterly divid- end of 2% per cent in cash—25 cents a share — payable on March 31 on shares recorded at the close of busi- ness on March 15. 0. F, D. MeMillen (coal) Minneapolis, Minn., all of\ 36-23-81. A. Gardner, Douglas, Wyo., all of 36-39-70. Mabelle B. Remore, Douglas, all of 16-39-70. Keane Oi] compan: Washington, D. C. all of 36-57. $10010480 TOTAL OF CHEYENE BAK ROLL CHEYENNE, Wyo., Feb. 26. — of Chey- a {WHEAT PRICES REACT IN MART Buying Stronger at Opening but Rally Is Short-Lived and Slump Follows (By Associated Press) CHICAGO, Feb, 26.—Wheat was nc- tive at the start today the May de- livery showing early strength, but prices reacted quickly because of a fairly generai selling on the advance. There was some talk of a minimum export price being placed on Argen- tine wheat, and country offerings to arrive were small in practically ail sections, After starting % cent lower to 1 cent higher with March at $1.65 to $1.68%4 and May $1.57% to $1.58%, @ reaction set im and carried prices below yesterday's finish. Reports of improvement in the ex- Port demand caused wheat to rally later, but the market became unsteady and fluctuated rapidly within a nar- Tow range. The close was unsettled with prices 1 cent lower to %c high- er, including March at $1.68 to $1.68% and May, $1.57 to $1.57%. Corn receipts were larger than ex Pected and after a firm start, it eased off on general selling. Messages from Scattered points indicate that farmers are not selling. Initial quotations which were % cent higher to % cent lower with May 70 to 70% cent, were followed by moderate declines. The market continued its downward trend despite the strength in wheat, and closed weak with prices % to 1% cent lower than the previous finish, with May, 68%c to 69c. Oats showed strength at the start but eased off with other cereals. After starting unchanged to % cent higher, with May 45% cents the market sag- ged. Higher prices for hogs gave strength to provisions. CHICAGO, Feb. 26.—Close: ‘Wheat—March $1.68, May $1.57. Corn—May 68%c, July 71%c. Oats—May 44%c, July 45%c. Pork—May $21.20. Lard—May $12.15, Ribs—May $11 July $12.52 July $11.82, Chicago Provisions. CHICAGO, Feb. 26.—Butter higher: creamery ocxtras, Sle; standards, 50%ec. Eggs higher: recgipts 19,679 cases; firsts 34@34\%c; at mark, cases in: cluded, 3245 @33%c. Poultry—Alive, unchanged. Potatoes. | CHICAGO, Feb, 26.—Potatoes—Re-| cepts, 44 cars; steady to 5 cents lower: | Northern whites, sacked, $1.20@1.30 ewt.; bulk, $1.25@1.35 cwt. aie W. W. SPROUL HOME BUILDER Two and Three Room Modern Houses for Sale If you want to buy or build a home, see me first, 141 W, 10th. St. Phone 376-W. 2-74 sit ee sats D. W. Ogilbee has rteurned to the city after spending several days in Cheyenne looking after business in- terests. | | that timepiece that keeps Livestock Mart CHICAGO, Feb. 26.—(U. S. Bureau of Markets}—Cattle—Receipts, 500; compared with week ago, beef steers steady to 25c higher; butcher cows and helfers 26c to 50c higher; can-| ners, steady; cutters, 25c to 50c high-| er; bulls mostly 50c:higher; veal calves, mostly $1 higher; spots up more;estockers and feeders 25¢ high- er. Hogs—Receipts, 8,000; market ac- tive, 15e to 26c higher than yester- day’s average; spots more; closing strong; top, $10.75; bulk 200 pounds down, $10.40@10.70; bulk 220 pounds er. Sheep—Receipts, 10,000, including 7,600 direct; few sales steady with} Friday. Compared with week ago,! handweight fat lambs, $1.50 to $1.75 higher; sheep yearlings and heavy) lambs, $2 to $2.25 higher; spots up| more; feeder lambs, $1 higher. | DENVER, Colo., Feb. 26.—Cattle— Receipts, 100 head; market, steady; beef steers, $7.00@9.25: cows and] heifers, $5.00@6.50; calves, $9.00@} 11.50; stockers and feeders, $5.00@7.50. Hogs—Receipts, 150 head; market, 10 to 15 cents higher. Top, $9.50; bulk, $8.40@9.75. Sheep—Receipts, ket, stronger; $4.25@5. 1,600 head; mar. lambs, $9@10; | ewes, | 25. (ati ys EES EN CHEYENNE BANKER RESIGNS CHEYENNE, Wyo., Feb. 26.— E. W. Stone conected with the Citizens’ National bank here since the organi- zation of the institution a dozen years ago, today announced that he had resigned the vice-presidency of the bank, effective March first. His suc: cessor has not been elected. | acBalecioe Gibettates FRENCH TROOPS ACTIVE. LONDON, Feb. 26.—Reports from Frankfort that the French troops in the occupied zone of Germany are displaying great activity, as is al-| ways the case when drastic meas-| ures are contemplated, are contained in Amsterdam dispatches, to the change Telegraph today. How Many Cubes? 5, 6 or 7? Don’t Guess Come in and we will tell you. Also bring along you guessing and let us straighten it out. | 30S. 1. SCHWARTZ Iris Theater Bldg. Own Your Home In Beautiful Midwest Heights Sub-division Large profits have been made on lots in Casper. The time to buy is when they are first put on the market. This is your opportunity of buying at the low price, as these lots should sell at much higher prices than now offered when the sub-divi- sion builds up. This has a wonderful start for the short time that the lots have been on the market. Lots range in price from $200 up, 10 per cent down cvd only $10 per month. Everybody can afford one. Call at our office Sunday and we will take you to the BEAUTIFUL MIDWEST HEIGHTS SUB-DIVISION. Salesmen will be on the ground all day. Midwest Heights Realty Company Office at HENNING BROKERAGE COMPANY Henning Hotel Lobby, Phone 1040-W. TREND LOWER IN up, $9.50@10.25; pigs, steady to high- rf |connection with reports of c Ey \heavy exports of the metal. Dechange 4 on London hei€ at yesterday's fina} {quotations despite extensive imports of gold from that center. Money and Exchange. NEW YORK, Feb. 26.—Prime mer cantile paper, 7%@7% per cent. Ee sterling, deman Francs, deman| Belgian francs, de 7A4e. Guill STOCK MARKET Shipping and Rails Feature Irreg- ular Trading at Opening nge irregu 3.86; cables, lle; cables 7 mand c, cables To lay demand 34c; cables 34.10c. Lire, df — mand, 3.63c, cables 3.65c. Marks, 66 a 58c, ca B . Gi NEW YORK, Feb.\26.—wWeek-end| mand 1 58c, cables 158c. Greece) ae mand 7.60c. Brazilian, demand 15.87c. 12% per cent discount. Cotton. NEW YORK, Feb. ss Pised steady; 12.02; July, Argentine, demand 354. Montred}, | covering of short contri effected variable recoveries in the stock mar-| ket today, Motors and their subsid- aries, secondary steels, oils, tobac- cos, textiles and the morg prominent specialties, including International Paper and Industrial Alcohol, partici- pated in. the rally to the extent of 1|3 to 2 points. Rails and shippings were the conspicuous exceptions, selling of transportations centering in Reading 26.—Cotton fie March, $11.50; October, which dropped 3% points. Profit-tak-| NEW YORK, Feb. 26—Bar silver, ing reduced some grains at the irregu-|domestic 991 foreign, 54%c. lar close. Sales approximated 300,-| Mexican doll s ; 000 shares, = . | °C. L. Rhinemuth has returned [6 NEW YORK, 26.—The trendjthe city after attending to businesy of prices in the early stages of today’s |conencted with his oil interests in short stock market session was again | Cheyenne. downward, siippings and rails fea- —_ — } turing the irregvlar reactions. Atlan:| Tribune Want Ads Bring Results. tic Gulf duplicated yesterday's low | price on a two point decline, Read-| ing lost 1%, and Famous Players 1. | Fractional’ declines were made bs most of the steels, motors and oils the Iatter responding to further cuts | in prices of raw and refined products. | Stromberg Carburetor recovered 2 points from yesterday's acute depres: | h Copper rose 14% ‘ Standard orTourist Sleepers Shortened Scheduler *% you plan the trip.. J.P. HALL Division Passenger Agent Denver, Colo. { q — OILLAND FOR SALE OR LEASE 4,400 Acres for sale or lease in the vicinity of famous Willow Creek Oil Structure In Teton County, Montana Write, Wire or Phone Cc. K. MALONE, CHOTEAU, MONT. eoerreecnesonconeooees: ANYTHING WORTH WHILE RE- QUIRES AN EFFORT. Your widow and children will collect only those policies you had in force at death. ‘Capitol Life’ McGrew Phone 153