Casper Daily Tribune Newspaper, May 24, 1921, Page 5

MONDy., om. 22, oom MARKET GOSSIP AND FIELD NEWS SEVERAL WILDCATS ARE PLANNED A new test is about to be started in the Goshe | country by the Detroit-Wyoming Developeuenk eee | The casing and standard rig of the Holmes syndicate at Horse Creek has recently been purchased _by the Potent Wyoming | Torring-| interests and this equipment is now being 3 ton. C.F. Palmer, manager for the Dott: in Casper to purchase other === PRONIIPTIAN. rthe Detroit-Wyoming, is now is now, OIL PRODUCTION HERE INCREASES Wyoming to Produce Nearly 20 of the Centennial hole, and 13 miles south of Torrington. The Centennial interests will soon resume drilling oa a hole which ts now down 2,100 feot. It {s understood that they have a working agreement with the Kasom- ing Oll company on about 3,440 acres. ‘The Detroit-Wyoming has control of something over 2,000 acres in the Goshen Hole opuntry, and is now buliding camps and preparing to make @ thorough test of the structure. The Million Barrels in 1921 on new well will be spudded # before Present Ratio June 1, and the company is prepared to drill to the 3,000-foot level in tits} Production figures now available on test. bm hs ce Mountain states make it - rom wer to estimate what. the total Sheridan Finances Oil Test. Production of petroleum will be for Sheridan ie making a community| the year 1921. Asa basis of compari- enterprise out of the plans to finance|/ san, the output for the preceding four a test of the Beaver Creek dome which + 9,199,310 barrels -12,808,896 barrels - 13,634,000 barrels «+. -17,577,000 barres! During the first months of this year, the figures are as follows: lies about six miles west of the city. A plan has been fostered to raise $30,- 000 by popular subscription and over half the sum has already been sub- scribed. The syndicate has been divided into 120 unfts to be sold at 000 against 17,577 barrels for 1920. It will be noted tifat production figures for the months shown are increas- ingly progressive, in fact, the output the last week in April and the first week in May was 70,000 bar- rels daily, constituting a, high record. If this new rate continues for the balance of the year, the output for the remaining eight months will reach 17,- 150,000 barrels, which, added to the 6,664,000 already produced, would make » total of 23,314,000 barrels, an rear of 35 per cent over last year’s CASINGHEAD GASOLINE MANUFACTURE IMPORTANT eS FAGTOR IN INDUSTRY The increasing importance cf cas- inghead gasoline in the oil industry is indicated in the formation of a new association of casinghead manufactur- ers in Tulsa, Okla. The name of the new organization is the Association of Natural Gasoline Producers. Tempo- rary headquarters have been opened at 905 Cosden buiiding, Tulsa. Compa- nies represented on the executive com- mittee include Chestnut & Smith, Mar- land Refining company, Empire, Cos- den Phillips, Awity Gasoline company, Liguified Petroleum company, Skelly, Barnsdall, Carter, Pure Oil, Noble Diamond and Gypsy. Matters requiring the immediate at- tention -of casinghead réinufacturers were referred to in a letter sent to as- sociation members three points being mentioned as particular urgency. (a) “New interstate commerce com- misaion regulations. The bureau of explosives proposes to revise the pres- ent I. C, C. regulations for the ship- ment of casinghead gasoline, i. ¢., liquified petroleum, peetroleum gas. These proposed changes will be sub- mitted by the bureau of explosives to the casinghead people for comment, and with the idea of getting helpful as- Fadi seep of supplies to the. field, peratory to the start eight wells. in ee Development Reviewed. im @ report recently sent to the stockholders the lIowa-Wyoming Oil company calls attention to work in the Bolton field, which it rates as field of great possibilities. Present time there are eight produc. ing wells at Bolton Creek, with an estimated total production of about 1,000 barrels per day. Two producing sands have been found, six of the eight wells drawing from the Sun- dance sand, at an average depth of 1,100 feet. The deeper sand, tapped by two wells at present, les at about 2,075 feet. . ‘The Iowa-Wyoming controls the en- tire Bolton field, and has spent a great deal of money in its development. Within the past year roads and bridges have-been built to the new camp, a water system installed, 12 storage tanks erected and full drilling equipment and supplies are in the field. A small refinery put up in the field has solved the problem of gaso- line supply needed for trucks and cars. This stil! hts a capacity of about 60 gallons of gasoline per day. A one-third interest In section 33-31- 80 has been obtained by the company and a national rig is already on the ground where a camp Is already crest- ed. This is in the center of Bodie dome, on which favorable reports have been received, and lies about eight miles from the Bolton field. The im- mediate development of this new field is. contemplated. Prairiae Officers Here. Mr. Nelson Moody, general superin- tendent. of the Prairie Oil and Gas company is visiting several wyo-|°™ ming fields, having gone over the Salt Creek field during the past week. At present Mr. Moody is reported tobe in Rawlini MONTANA LEASE-HOLOERS ASKING L AR GE ROYALTY sted ideas on the value ot rar developments existing in some of the newly developed Montana fields is shown by the terms asked for roy- alties on patented lands. It is reported that in: some cases the holder of the land demands as much as a 25 pe: cent royalty, in territory which should be classe@ as strictly wildcat. The risk and chances taken by the operator seems to have been lost sight of in these cases, and the royalty asked is twice that customary in sections which can be considered as proven in this state. A royalty interest of 2% per cent in the Ragged Point dome in Montana, a ‘wildcat “structure, was offered some few weeks ago at $15,625. 40-acte tract was sold for $15, This is probably the most vital mat- ter that will come before manufacturers for some time, and will require the most careful consideration and thought on their pert. (@) The question of markets for raw casinghead must be given atten- tion by the casinghead manufacturers to the end that certain specifications for casinghead gasoline be adopted. If there is any hope of stabilizing the casinghead industry, it can be done only through standard spetifications. (ec) Education and publicity. essential that much education and pub- icity work be done to establish the He status of agsinghead gasoline ig, Dotedigtimn, prpanets products. POSTAL EMPLOVES HERE ARMED BY DEPARTMENT With six-guns dangling from their hips, mail clerks that make Casper their headquarters are now presenting a formidable appearance. This added apparel is the result of an order of Postmaster General Will H. Hays that postal employes must fight to prevent robberies of mail. The order went into effect during the past week. Armed carriers, clerks and other erfi- ployes will give the prospective robber @ greater handicap than he fcrmerly faced. Laundry JThis is at the rate of nearly $400 per acre for wildcat territory, Probably 4 record for the new oil state. A more conservative tendency is now noticeable, however, and it is probable that transactions In Montana leases end royalties will be less marked by sensational figutes han has been the case in the past. pe RE sora The popularity of June as a month for marriage is inherited from the ancient Greeks and Romans. sistance concerning these regulations. |° ATTENTION ALL MEMBERS OF LOCAL NO. 85 All members are requested to attend regular business meeting at 8 o'clock Tonight at Moose Hall : BUSINESS OF IMPORTANCE Fines will be assessed on members not in attendance. aeekbeese le 6 1.60 - 1.60 wpinnpomegne TAB} JULY WHEAT UP, RECORD IS HiT Hot Weather and. and Unfavorable Reports Sends Price Soaring in Chicago CHICAGO, May 23\—Highest prices yet this season were reached today for the July delivery of wheat. Hot dry weather and extremely unfavor- able crop reporcs gave a big advan- tage to the bulls, and induced heavy buying in which exporters appeared to be participating. | Commisson houses sold freely at times, but the of- ferings were readily absorbed. Open: ing quotations which varied from ‘%c decline to. 2%c advance with May, $1.67% to § $1.2844 were followed by “a moderate Beneral setback and then a sharp ad- vance all around. Later the advance was checked by selling based” on the fact that prices had been on the upgrade for more than a week. The close was unsot- tled, %e net lower to 2%c advance with May $1.67% to $1.67% and Jyly $1.27% to $1.28. Corn hardened with wheat, notwith- standing huge arrivals of corn here. After opexfing Kc off to \c higher including July at 61% to 62%c the market sagged a little more and then brsare gains al around. Oats paralieied the action of other cereals, starting unchanged to ‘%c lower, July 41@41%c and later making @ general advance. Provisions were firmer with grain despite lower quotations on hogs. Closing Quotations. CHICAGO, May 23.—Close: ‘Wheat—May $1.67%, July $1.27%. Livestock Mart CHICAGO, May 23.—Cattle—Re- ceipts 23,000 head; markt slow; beef steers and butcher she-stock; 25@ 40c lower; top yearling steers end medium Weight bulk, $7.75 @8. cows and heifers, $5.60@7.0' mostly 50c lower; bulk of sales, $5. average; top, $8.80; bulk, $8.40@8.75; bulk desirable, $8.60@8.75. Sheep—Receipts 22,000 head; lambs, 25@50c lower; shorn top ,$11.50; bulk of sales, $11.00@11.50; best wooled Colorados, $12.00; California springs, no shetp sold early; T50@$1.00 Denver Livestock. DENVER, May 23.—Cattle — Re- ceipts, 2,500; market 30c “to 50c low- er; beef steers, $7@8; cows and haif- ers, $5.75@7.50; calves, $10@12; stock- ers and feeders, $6@7. ‘Hogs—Receipts, 1,400; market 5c to 10c lower; top, $8.55; bulk, $5.75. Sheep—Receipts, 3,600; market 25c¢ and 50c lower; yearlings, $10@11; lambe, $11.75@12.50; ewes, $6036.25. Workers Big Muddy , and July $1.27% to|'® €be Casper Daily Cribune NEW YORK ‘CURB CLOSING Bid. Asked. -$147.00 $149.00 Pilot Butte — ‘%¢ | Four-Point Advance in Petroleum MEXICAN PETE EXTENDS GAINS Issue Largest Among Major Oil Stocks NEW YORK, May 23.—Conflicting movements attended today's dealings in the stock market, but the trend for the most part was toward higher levels. Sales 700,000 shares. The closing was irregular. NEW YORK, May 23.—The strength Francs—Demand $.26, cabl Gullders—Demand 35.55, Lire—Demand 5.39, Marks-—Demand 1 Greece—is.vand 6. Sweden— > mand 23.45 Norway—Demand. 15.80. Argentine—Demand 31.8). Brazilian—Demand 13.87. Montreal, 109-16 per cent discou: Time loans—Steady; 60 days, days. six months, 6% per cent Call money— ter high, cables 1.6 Leave your Nook, Iris Theater building. 5-16-6t low "3 | ey, ruling rate, closing bid, 6% CRAELSS J. STONE / offered at 7; last loan, 6% Petroleum G: ist ] sd x wi 85 jeolog! Crude Prices Cut averse ane: Servers KiePOrskin itoudyes, Free Nemes WINNETT, MONT. Citic Gt DepuMe Attares Goa FINDLAY, O., May 23.—The Seanad | < Ol company today announced further Mexican Petroleum, which opened at & gain of 1% points and immediately only noteworthy incident in the pre- liminary dealings on the stock ex- extended its rise to 3+potnts, was the change today. General Asphalt, Sumatra Tobacco, Central Leather, Virginia Carolina Chemical and some of the rails also showed moderate im- provement. Motors and specialties, embracing food, leather and equip- ments shares were fractionally lower. A substantial reaction in British re- mittances from last week's final quota- tions was the feature of the foreign ex. change market. Mexican Petroleum remained the dominant feature of the morning, in: creasing its lead 4% points, Pan-Amer- ican, General Asphalt and Tidewater were among the other strong oils. | Bethlehem, Republic and Crucible Steels rose 1 to 14% points, Tobacco 1 to 1% and American Smelting. Peo- ple’s Gas, American Linseed, Bosch Magneto and Famous Players, 1 to al- most 2 points. Buying of rails was | restricted to the standard Pacifics and | coalers, junior isiues showing little of their recent activity, Some disappoint- ment was felt at the firmness of | money rates, call loans holding at 7 | per cent. AMERICA CASPER’S FINEST — A Bishop-Cass Theater — ALWAYS WORTH WHILE STARTING TODAY GRAND DOUBLE BILL Hansilton Dome -.--. Mule Creek Corn—July 61%c, September 64% c. Oats—July 40%c, September 42c. Pork—May $17.25, July $17.26. Lard—July $9.67, September $10, Ribs—July $10, September $10.27. Potatoes. CHICAGO, May 23.—Potatoes—Re- ceipts 90 cars; cld, weak; northern white, sacked and bulk, 90c@$1.00; vew, stronger; Louisiana and Missis- sippt Triumphs, $3.00; long white. $2.75; Texas Triumphs, $3.50@3.60; South Carolina cobblers, $7.25 barre!. Provisions. CHICAGO, May ket higher; creamery first, 21%@25%c; seconds, 17@2! receipts 32, : » 21% 22 firsts, 18@19c; at cluded, 20@21 832 peat Eat, Chinese women of the upper ‘class pend extravagent sums on trousseaux gnd layettes, though in all other mut Pters they are usually economical. Metals. NEW YORK, May 23.—Copper— Firm; electrolytic, spot and near by, 13; futures, 13% @13 4c. Tin—Easier; spot and near by, 3.25; futures, $33.25. minal; No. 1 northern, 00; No. 2 northern, $24.00@ 2 southern, $21.00@22.00. Lead—Steady; spot, $5.00. Zinc—Quiet; East St. Louis delivery, spot, $4.85@4.95. Antimony—Spot, $5.25. Money and Exchange. NEW YORK, May 23.—Prime mer cantile paper, 6%@7 per cent. hange—Weak; sterling, demand, $3.951¢; cables, $3.96%. Belgian francs—Demand 8.36, cables 8.38. Geologiste Oil Expe:is Oil Field Maps Blue Prints Explorations Reports Wyoming Map & Blue Print Co. P. O. Box 325 Rm. 10, Lyric Today. It’s a Continuous EXTRA! HIGH CLASS The Great Alexander’: Get Us Right—A : DID YOU SEE “ISOBEL”? If You Were Unable to Get in Yesterday, Come ‘LAST TIMES TODAY “1-S-O-B-E-L” “THE TRAIL’S END” A sequel to “The River’s End.” Picture of the Great Northwest. TOMORROW The Big Spectacle of the Sea “BELOW THE SURFACE” A Wonderful Undersea Picture BIG TIME STUFF mind reading and conjuring. The Great Rex Ray Southern Troupe SONGS, DANCES AND MONOLOGUES Wonder Picture, 1 to 11 P.M. presents HIPPODROMIC FOX SUNSHINE COMEDY SENSATION One of the Snappiest, Jazziest, Fun- niest, Most Thrilling Screen . Comedies Featuring the Foremost Comedy Artists, Including the World Famous Singer Midgets—the Worlds Tiniest People It-Is a Mighty EXTRA! VAUDEVILLE 's only rival in hypnotism, N— Three-Hour Show Headed By CLYDE COOK Supported by Hundreds of Sunshine Comedy Girls. “HEARTS OF YOUTH” A Tale of Mystery and Vengeance A Romance Based on the Noted Mrs. Southworth’s Novel, “Ishmael” USUAL ADMISSION, 40c Shows Begin at 1, 2, 3:30, 5, 6:30, 8 and 9:30 P. M. Every Day RE 4