Casper Daily Tribune Newspaper, April 1, 1921, Page 7

‘THURSDAY, MARCH. 31, 1921 Whe. Casper Daily Cribune Sa Re eae MARKET GOSSIP AND FIELD NEWS AVERAGE FIEL PRODUCTION IS CUT > Daily production of the Wyoming fields, pipeline runs and other information, as measured by 50,000-barrel mark for the week ending March 19, accord- ing to estimates announced by tute, which show a reduction production under the previous curtailing production in that field. Average daily gross production for ‘Wyoming and Montana is given as follows for weeks ending March 12 and 19: ‘Wyoming and Montana. Wyoming March19 March 12 Salt Creek -_____ 26,600 28,900 Grass Creek -._ 4,500 5,000 Elk Basin -____ 2,800 2,700 Big Muddy -____ 5,800 6,200 Laramie District. 5,900 6,000 Others’ --___-.___ 3,980 2,750 Totals, Wyoming. 49,580 51,550 Montana Cat Creek -_--.___ 4,500 5,000 Totals, Wyomir and Montana 4,080 56,550 Oil Land Dec. . Appealed. John M, Waldron, of counsel for '. G. Bonfils, on Saturday filed a brief, with Secretary Fall of the department) of the interior on an appeal from the decision of Clay Tallman, recent com- missioner of the general land office, denying Mr. Bonfils a lease on ten quarter sections in the Salt Creek oil field to the extent of a one-eighth in- terest to which he lays claim as suc- cessor to Anton Johnson and heirs. Confidence in Administration. Now that the new Republican ad- ministration which has taken up the reins of government at Washington has passed through the first 30-day period Wyoming oil men are permit- ting the first expressions of confl- ence to go forth. : With Albert B. Fall, of New Mexico, haneting the duties at the “interior office and William Spry, ex-governor of Utah, United States commissioner of public lands, directly in charge of matters pertaining to the of! lends of the western states, expeditious han- dling of all claims has been assured to local interests. One of the reasns for the expressed optimism is that the new men under- stand western conditions, being the first officers in years in these duties ‘who came from western states. This] cifan. angement will permit giving gener- ally more favorable consideration to the desires of western residents. Frantz to Begin Drilling Again. The Frantz Oil company, which en- tered the active development of the state @ little over a year ago, is ex- pected to resume operations at an early date on its holdings in the Salt Creek field: The Salt Creek develop- ment will be in addition to wide opera- tions which are contemplated in Wyo- ming and in other fields of the coun- try. Many Leases Ponding. Announcements: have been received. here that many leases effecting lands in the Salt Creek field and other Na-; trona county fields included in wit! drawal areas have been granted by department of interior officials. Defi- nite word as to the leases issued have been held upon pending formal signa- ture and completion of other final de- tails. More Leases Approved Leases on the following lands, in- ding valuable tracts in the Salt Creek field, are at present in the final Processes of routine preparatory to issuance. The leases are held under the head granted but not signed: Sec. 27-40-79, applied for by Midwest Oil company and Wyoming Associated Oil company. NW% 23-40-79 applied for jointly by Midwest Oil company, Central Wyo- ming Oil and Development company and Wyoming Associated Oil com- pany. NE 23-40-79 and W% Sec. 24-40-79, both tracts applied for by Midwest Oil company, Wyoming Associated Oil company and Western Oil Coal and Investment opmpany. NW% 25-40-78 applied for by Wyo- ming Associated Oil company and Central Wyoming Oil and Develop- ment company. NW% 30-40-78 applied for by Mid- west, Wyoming Associated and Cen- tral Wyoming Oil and Development company. NE 19-40-78 applied for by Norris and Casper Oil syndicate. North half, SE% Sec. 19-40-78, ap- plied for by heirs of Daniel B. Dor- sett. SW% 29-40-73 applied for by Casper Mil and Development company. NEW INCORPORATION ‘was represented in the list of incorporations granted this week at Cheyenne by another million dollar il concern. The company will be known as the Mellem Oil company, capitalized at 1,000,000 shares of $1.00 CASING WANTED COMPLETE STRINGS OR LARGER SIZES State quality, sizes, con- dition and where located L. B. Hungerford 705 Central Savings Bank Building DENVER, COLO. the American Petroleum insti- of 2,300 barrels in Salt Creek week as a result of agreements pia SR be nthe eo dropped below the/ American $09 $ 11 00% 01 02 FAITH AND HOPE NEEDED FOR OL Confidence Will Reward Oper- Fargo ators With Ultimate Success, Says Kansas Paper Faith and hope are the prime es- sentials in the oil game says the Wich- ita, (Kan.) Eagle. If it were not for those two qualities, Kansas would not be fourth in the list of oil Producing states with an average daily produc-; tion the last four yoars of 100,000 barrels. If the hundrelds wildeatters Whose combined efforts have made Kansas what it is in the petroleum in- dustry had lacked confidence in their ultimate success and had gotten out their pencils and paper before spud- ding in a test and figured out the chances of getting production—well, the state would only be noted for its agricultural resources, For every wildcat well that comes in an offer, there are twenty-nine oth- er tests that are doomed to failure. In plain Anglo-Saxon, the chances of finding oil in virgin territory, ac- cording to the best authorities, is about one in thirty. Without throwing any stones at the geologists, whose services are so invaluable in these days that no oil company would ever start a well without a geological in- vestigation, it can be safely stated ttmt a big percentage of failures ex- ists even where this survey has*been made, ‘The geologist as most of! men know, cannot find oil. He can only locate structures where it is possible for oll to, be discovered. There is just one ce in thirty after the structure has been found that oil {s underneath. That's the figure one of the biggest operating companies in the country counts upon when it spuds jn a hole in new territory.’ This fact has not been advanced to discourage the oll business, but mere- ly to call attention to the tremendous cost of discovering the sixty seven separate pools that are now produc- ing oil in Kansas. A lot of men who discovered one or more of the sixty- seven fields only drilled one well and were lucky enough to hit the first time. Curiously enough, the names of the men who have been successful ire always remembered longer than’ the ones who had a long string of | dry holes to their credit. It's a mat- "ter of record that one oil man in Kan- sas drilled twenty-one deep “dusters” before he was lucky enough to strike oil, and if his bank account had not been pretty large because of success. ful operations in proven territory he would not have been able to drill twenty-one dollars. It must have taken millions upon }millions to discover those sixty-seven |pools. As far as anyone knows, no one has had the nerve to sit down :in front of an adding machine and at- tempt the calculation. By “cost of discovery” it is not meant the out- lay that went into the sixty-seven discovery wells, but rather all of the dry holes in the state. In the first |place there are no authentic records, and again the cost has varied so much that the final result would be more guesswork. fg a PRES Chappell Calls Mecting. The annual meeting of the stock- holders of the Chappell Oil company will be held hero at the company headquarters in the Conroy Oil Ex- chance building during the coming week. W-. C. Gregory and other offi- cials of the company from Denver and Oklahoma points will be here for the ™meeting. Important programs effect- ing the company’s Wyoming interests will be worked out. FURNISHED BY TAYLOR & CLAY Ground Floor Oil Exchange Bldg. Phones 203-204 WHEAT PRICES HIT NEW LOW May and July Deliveries Fall Of ++: 2.60 2.76) Sharply at Opening Under “28180 Selling Pressure ¥ on ta ate CHICAGO, March 31.—Wheat prices ee AE Sates reine satening | CHAT, tell tO tho lowest ‘level which ‘92 | Midwest ap 2.42 2.56 has been touched this seagon by the ppt ter gman Wcare AAS 3.00 | May and July deliveries. Selling pres- Pepa byes 3 1175 12,00/8Ure Was general and buying was Bink "is; os Son BD aos 2.00 | ONly of a scattered sort. Prospects of Se ee ee a 20.00 35.00 Dis yield of winter wheat had much ent + Or i al teasers Bee 4) "37, t0 do with emphasizing “bearish senti- Pete . 5 age « 7 4g2/ment. Opening prices which varied Coappeengs 50. 55 | Prod. & Refre. To EE trom 2% decline to 2% cents advance peeve vaca ere tt 4 red 8.87, With May $1.37% to $1.39% and July eran ity ts a “a7 | $1-19% to $1.20 were followed by nu- mEnbine : - “37 1.12| ™erous fluctuations within the initial ‘Casper | 42.00 | Tange. mers pore F papers tal ie for SP cones ing tended to ity the market. ices NEW YORK STOCKS closed unsettled, 1%c net lower to %e Mexican Petroleum ..$141.50 $142.25} advance, with May $1.38% to $1.38% Sinclair Oil 28.75 23.00 /and July $1.19% to $1.19%. 3.00| Texas Ol . 41.25 41.12) Corn and oats paralleled the action -41/ Pan American Pete 69.12 of wheat and sold at new low record OT) U. 8. Steel 80.87 prices for the season. Corn opened 04) Union Pacific R. R. .. 116.75 4% to %@%c off, including May at Se FOREIGN EXCHANGE 60% to 6lc, and the latter sagged a 07 | Sterling . - a aly little more. 5 ll weanuns RAR The close was weak tie to %e net fSecnag Adachi taenanesee i os] bra + 0188 | tower with May 60% @60%e to 60sec. i ee yeeros Oats started % to %c down, July Mountain & Gulf . Riverton Refg. . ... INUTAR BOOMED /Oklahoma Operator Tells- Salt Lake Chamber That Geology Is Favorable Large concerns that are operating in Utah are not gambling, according to the assertion made recently by Col. ‘W. C. Newell when he appeared be- fore the Salt Lake Chamber of Com- merce. . Mr. Newell has had a close associ- | ation with the oll game all over the conntry during the past forty-five years and has successfully moved in a majority of the great oil fields of the country. At the present time his chief interests are concentrated in | Oklahoma and his headquarters are Hin Tulsa. A part of the talk he made before the civic body gives practical infor- mation that should be of benefit to Casper operators: cts for the discovery of pe- troleum in large quantities in south- ern Utah are equilly as good as they were in Oklahoma, Texas, California and Wyoming prior to the ofl booms in those states. iM “The same geological conditions ex- ist in southern Utah that were found by the pioneer prospector in other great fields. Surface indications in this state he said are better than those found in Pennsylvania years ago. “I know the Ohio Ojl company, which has begun drilling in three dis- tinct fields in the southern part of the state and you may rest assured this organization does not waste money any more than you do in your business. “In Salt Lake you should prepare for the prosperity that attends the de- velopment of an oil field. The state is ‘bound to profit by this activity. Large companies have come into the state to invest their capital in such a way CHARLES J. STONE Petroleum Geologist Reports and Surveys WINNETT, MONT. ‘American Beauty Pocket Second at Wolcott HOLMES’ SATURDAY | ECONOMY SALE Electric Flat Irons $6.49 Community Silverware 20 Fer Cent Discount Shears and Scissors 20 Per Cent Discount Knives 20 Per Cent Discount | “WATCH OUR WINDOWS” | Holmes Hardware Co. “Holmes to Homes” Phone 601 39% to 40c, and afterward descended rapidly. Provisions were firm, higher quotations on hogs. owing to Closing Quotations. CHICAGO, March 3$1—Close. Wheat—May $1.38%, July $1.19%. Corn-—May 60%e, July 63%c. Oats—May 38%c, Inly 39%c. Pork—May $19.75. Lard—May $11.40, July $11 Ribs—May $11.07, July $11 Chicago Provisions CHICAGO, March 31.—Butter— Higher; creamery extras 44%c; stand- ards, 42c. Eggs—Higher: 29,699 cases; firsts, 23% @24c; ordinary firsts, 20: mark, cases included, 21@23c. Big Muddy Pilot Butte —------—-_----___-. 1.40 1.40 that the entire commonwealth will benefit. “I went into the wilds of Oklahoma| Poultry—Alive, lower; fowls, 2c; with the first pioneers of the industry | SPrings, 32c. and I saw isolated lands develop into —— Potatoes large and prosperous cities. “Refrain from throwing stumbling blocks in the way of the men who are attempting to devetop the state! Every citizen should make the path clear for those who have invested thelr capital in this industry without expense to Utah.” Colonel Newell discussed the danger of the petty oll grafter accompanying the boom appealed to the business men of Utah to guard against this menare. He said that “fake” ofl men were injuring the industry. “My advice to you is to keop out the little grafter, but don't pass laws that will drive out capital.” Standard Officials | CHICAGO, March 31.—Potatoes— Steady; receipts 31 cars; orthern white sacked and bulk $1.05@1.20 cwt. Sabai Ss JNPANESE CHAMP BEATS MONOGOF IN STRAIGHT FALLS ON LARAMIE MAT LARAMIB, Wyo., March 31.— Mikaya, with two straight jiu Bob Monogof of Chicago here last night! Monogof won the first fall with a body Nelson and bar scissors. Tony Bernardi of Denver has sent a challenge to Miyaka. Jack Taylor On Trip to Field of Casper also: has mafe advances for Local and headquarters officials of}, match with Frank Lamarque, the the Standard Oil company of Indiana, manager for Miyaka. including, Beaumont Parks, third vice president, Dr. Cash of the labora- tory department, R. M. Andrus, gen- eral manager and A. E. Thompson, | NOTICE of Woodcraft dance, Friday Neighbors benefit of Woodcraft home, superintendent motored tonight, April 1. Schembeck’s orabestra 80-20 tht Big Muddy field this morning tolat the Winter Garden. inspect the producing properties and then went to Glenrock on a short busi- ness trip. Messrs Parks and Cash are in Cas- per to confer with Mr. Andrus on the construction program which is underway and contemplated at the local refinery. | pisal {CASA Sea CASPER AUTO TOP SHOP Rear 683 8, Center St, Phono 749-3 NEW TOPS, SEAT COVERS, CUSHIONS FOR ALL MAKES OF AUTOS st Moderate Prices Also Roupholstering and Recovering of Enclosed Cars EXPERIENCED WORKMANSHIP GUARANTEED pert workmen. All work guaranteed. casper Jewelry Mfg. Co. O-S Bldg. 3-5-tr Oil Boom On the Way OFFFER FOR QUICK SALE ON THE FAMOUS TRANS-PECOS STRUCTURE, PECOS COUNTY OIL FIELD, PECOS, TEXAS—TODAY is the day of OPPORTUNITY there—next week or next month may be too late! LEASE PRICES BEGIN TO CLIMB, and the scramble for oil properties promises to equal that which made BURKBURNETT, RANGER, WEST COLUMBIA famous and gave great fortunes to thou- sands of small investors. ; Jewelry and watch repairing by <a, 1,280 acres State Permit, Section 9, Block 23; 640 acres University Land, Section 10, Block 23; 640 acres University Land, permit dated February 9, 1921, with rental at 10 cents per acre. Your title is guaran- teed by the State of Texas. If interested in Texas oil leases, see GEO. HALLA, at Legion Club, announce the removal of their offices to | Rooms 304 to 311 Inclusive Midwest Refining Co. Building Corner of Wolcott and East Second Streets Casper, Wyoming ‘ Telephones 1650 and 1651 Dk. J. C, KAMP DR. T. Ji DREW DR. C. H. BAILEY DR. T. J. RIACH DR. K. C. MacPHERSON | | | The undersigned Physicians and Dentists wish to \ falis, won in a wrestling match with| net Bide, SECURITY PETROLEUM SYNDICATE | UNITED STATES GOVERNMENT REPORTS SHOW CAT CREEK OIL TO BE HIGHEST GRADE PRODUCED IN UNITED STATES —Headline in The Democrat-News of March 16. | Livestock Mart | CHICAGO, March 21—(U. 8. Bu- reau of Markets.)—Cattle—Receipts, 6,000; fairly active; beef steers mostly 10 to 15 cents higher; top yearlings, yearlings, $10; top heavy beet steers early, $9.75; bulk beef steers, $8.50@ 9.50; butcher she stock steady to 15 cents higher; bulk fat cows and heif- ers, $5.50@7.75; canners and cutters, mostly $3.00@4.50; bulls and calves, steady; bulk bologna, $4.50@5.00; butcher grades mostly $5.25@6.25; veal calves, mostly $7.50@8.00; stockers and feeders steady to 25 cents higher; bulk stockers and feeder steers, $7.00 @8.00. Hogs—Receipts, 16,000; market 10 to 25 cents higher than yesterday's average; in-between weights up most; top, $10.25; bulk 200 pounds down $9.90@10.25; bulk 220 pounds, up $8.80 @9.60; pigs steady to 15 cents higher; bulk best 90 to 120 pound weights, $10.00. Sheep—Receipts, 16,000; opened about steady; wooled lambs top early, $9.25, average about 89 pounds; best lambs not sold; bulk $8.50@9.0 wooled wethers for export, §6.! fat ewes, $5.50@6.25. DENVER, March 31.—Cattle — Re- ceipts, 1,000; market slow, about steady; beef steers, $7@8.25; cows and heifers, $5.50@7.50; calves, $10@12; stockers and feeders, $6.50@7.75; bulk, $3.75 @5. Hogs—Receipts, 1,500; market 25c higher; top, $9.60; bulk, $8,660@9.35 Sheep — Receipts, 2,400; market strong to 25c higher; lambs, $7.25@ 9.25; ewes, $4.50@5.40. Casper Rotarians To Attend District Meeting Next Week Many Casperites are planning to at- tend the convention of the twenty- first district of Rotary clubs which will be held in Pueblo next week. This district includes parts of state of Colorado, Wyoming, Mexico and Arizona. Elaborate ar- rangements are being made to put the convention on in true Rotary style. Among the Casperites who will make the trip are. Mr. and Mrs. Geo. B. Nelson, Mr. and Mrs. Lew M. Gay, Mr. and Mrs. John Biedermann, Mr. and Mrs. W. W. Keefe, Mr. and Mrs. Ira _G. Wetherill, Mr. and Mrs. Earl ©, Boyle and W. R. Johnson. Many other members of the club have signi- fied their intention of going to Pueblo if they can possibly make the trip. ————>____— AFTER THIRTY YEARS DRILLING AND PRODUCING O1L, —‘rilling 500, of wells, with estimated production oVer $50,000,000—I invite investors to join me on GROUND FLOOR, SQUARE OLL ENTERPRISE without one dollar.or one share of graft. Bank references furnished. Wire or write D, I. GRIMM, 121 South Little Rock, Ark. STOCK LISTE OFF AT OPENING Oils, Steels, Equipments and Mo- tors Give Way Under Heavy Selling NEW YORK, March 31—Weak- ness prevailed at the opening of to- days sto’ck mirket, leaders of the oil, steel, equipment and motor groups being among the first to give way to increased pressure. Prospects of tighter money rates envouraged the shorts to extend their commitments. Within the first half-hour losses of from 1 to 3 points were sustained by Mexican Petroleum, General Asphalt, Royal Dutch, Crucible, Harvester, Baldwin, Studebaker, Chandler and Kelly Springfield tire. The reaction extended to rails, Union Pacific and Southern Pacific losing 1 point each. In the absense of more than mod- erate siipport and short covering, prices continued to recede during the morning on today’s stock market. Ex- tensions to ety losses ran from 1 to 3 points. Crucible, Mexican Petro- leum, Houston Oil, General Asphalt, American Smelting preferred, Bald- win, American Car, American Sugar, American Wooler: and leathers and to- baccos comprised the more reaction- ary issues. Call loans opened at 6% per cent against yesterday's final rate of 7 per cent, but time funds were firm and scatce. Metals. NEW YORK, March 31.—Copper— Market steady; electrolytic spot and nearby, 12%0; May and June, 13c_ Iron—Nominally unchanged. Tin—Easy; spot and nearby, $28.75 @29; futures, $29.2529.50. Antimony—Spot 5.12@5.25. Lead—Firm; spot 4.25. Zinc—Market dull; East St. Louis, $4.65@4.75. MONEY AND EXCHANGE NEW YORK} March 31.—Prime | mercantile paper 74@7% per cent. Exchange, heavy; sterling @0-day bills and commercial 60 day bills en banks, §3.87%; commercial 60-day bills $6.87%; $3.92%; cables, $3.94%. Francs, demand, 7.01; cables, 7.03. Belgian francs, demand, 7.31; cables, 7.33. Guilders, 34.52. Lire, demand, 4.10; cables, 4.12. Marks, demand, 1.59; cables, 1.60, Greece, demand, 7.67. Argentine, demand, 33.75. Braxilian, demand, 14.50, Montreal, 11% per cent discount. Government and railroad bonds, easier; time loans firmer; 60 days, 90 demand, 34.42; cables, | days, six month 7 per cent. Call money firmer; high, 7; low, 6%; ruling rate, 6% closing bid 6%; of- fered at 7; last loan 7 bank accept- | ances, 6. Silver. NEW YORK, March 31.—Bar sil- ver, domestic, 99%4c; foreign, 57%c. Mexican dollars 43%c. Alleged Slaver Is Allowed Bail CHEYENNE, Wyo., March 31.—Al- bert J. Reeder of Fort Collins, Colo., arrested here last Sunday on a charge of violation of the Mann act, was re- leased Wednesday on bail of $1,000. His case will be laid before the May grand jury of the federal district court. Miss Helen Nave, Reeder's companion, taken into custody as material witness, is still held in de- fault of bail of $500. producing. says. CLIP the COUPON >—————>- Trustees: Charles Wiper, Cashier, Empire Bank F. J. Robinson A. M. Lundeen eovocces: Security Petroleum Syndicate, 218 Main Street, Lewistown, Mont. eenccceceee: Name -------.--. mene The wonder field of the world comes into its own. Across the conti- nent they sing the praises of the famous! ,000-barrel field in Montana. And for good reasons. The oil, as the government report says, is the highest grade of any yet produced. And the wells in this field have the highest average of any producing field in the country. Tn the heart of this great field stands 40 and 20 acres of the SECUR- ITY PETROLEUM SYNDICATE. We own 40 acres in the well- known Devils’ Basin north of Roundup structure where three wells are now So when you look to Montana think of Security. We named it that because we believed in it and because we know it stands for just what it The scissors and the coupon work together. Use them. SPECIAL NOTICE WE ARE NOW offering Security Petroleum Syndicate units on easy terms. The Security Petroleum Syndicate is capitalized at $150,000. It is a common law trust. Fifteen hundred units at $100 each. units on the easy terms of $25 down and $25 monthly until paid out. Reliable Agents Wanted For a limited time we offer these P. O. Box 546. T enclose check (draft) in full or part payment tg same. Units in the Security Sassseccccsesevoosencccssosenees ee