Casper Daily Tribune Newspaper, June 21, 1921, Page 4

PAGE FOUR MARKET GOSSIP ANO FIELD NEWS PIPELINE. REAEARING 1S ALLOWED Rate of 32 1-2 Cents a Barrel Fixed by Montana| 42s Utilities Commission on Cat Creek Deliveries : May Not Stand as Result of Consideration (Special to The Tribune.) BILLINGS, June 20.—Rehearing on the recent order of the Montana public utilities commission fixing pipeline charge by the two carriers now serving the Cat Creek field at 3214 cents per barrel, has just been granted by the com- mission upon application of the Elk Basin Consolidated Pe- troleum company, which, with the Mid-Northern Oil com- pany, cperates the Mutual pipeline) from the Cat Creek field to railhead| at Winnett, a distance of approxi- y _ Te rehearing has 30, at Lewistown. President of the . & gubsidiary of and one of the big tors, and Robert Etli-! esident of the Midwest Re fining company, which now refines practically all of the crude from the Cat Creek field, presented the appli- cation for rehearing at Helena. Messrs. | Stanley and Ellihon stopped over in| Billings while en route from Helena. The commission in fixing the rate| at 32% cents, thus adopting the car- rying charge filed by the Montana In- dependent Pipeline company, competi. tor of the Elk Basin, and rejecting the 15-cent rate filed by the latter,/ pleaded that very little evidence upon Which to base a conclusion as to a gust rate had been presented at the hearing held last month, and stated that adoption of the 32%-<cent rate ‘was decided upon because in their opinion “it more nearly approaches | that standard of fairness which en- titles it to actual trial.” They made ft plain that the rate fixed was mere- ly for (he time being and pending trial, and that it was their intention to approach the subject of rate mak- ing in a spirit of utmost fairness to the independent operator and with a view of guarding his best interest. ‘Their findings, with respect to the temporary rate were in spirit an in- vitation for reopening of the whole matter, whenever any inequalities ap- pear and when experience of opera- tion would make possible more light on the subject, than was accorded them ct the previous hearing. In the application for rehearing made by the Elk Basin, through Messrs. Stanley and Ellison, conditions fn the oil industry which finds the greatest surplus of refined stocks in history. congested at refineries and Wwotume df crude accumulating so Fapidly ‘that its storage presents a se- ‘Fious problem, were called to attention jet the commission. Burdens already posed upon producers by reason of Bich operating costs and a price for @rude that ts the fowest in four years, ‘were pointed to as influences tending o discourage production and market- Ing of oil, which an exhorbitant car- ‘rying charge from field to railroad ‘would make more acute. Figures compiled from the records of the Elk Basin company, were presented, show- ing that during the months of Janu- avy, February, March and April, op- erating under a rate of 15 cents, the pipeline had paid a net profit of 5.6 cents per barrel without, however, Geducting for taxes. To add 17% cents to the charge that had shown such a profjt, they contended would de unfair and would result in a harm- ful reaction in lessened volume of oil through pipeline facilities capable of handling many times its present run. NEW COMPLETION IN CAT CREEK BILLINGS, Mont., June 20.—Schaf- fer Oil and Refining company’s No. 1 ‘well on the Harlan tract on the north- ‘west quarter of the northwest quar. ter of section 10-15-29, Cat Creek field, is reported as a completion, accord- ing to arrivals here from Winnett. It 1s reported top of the sand was reached at 1,352 feet and that ofl im- mediately rose in the casing. ‘Lawson-Ritter No. 2 on the Fradd tract, on the northeast quarter of the northeast quarter of section 9-15-29, which is being drilled by the Schaffer company under joint agreement af- fecting acreage of both companies, is drilling at a depth in excess of 1,100 feet and should register a completion soon, according to recent reports from the field. ey West Dome No. 6 offsets Lawson Ritter No. 2, and West Dome No. 7 offsets Schaffer Harlan No. 1. Rig- ging up for both is in progress. ' ‘West Dome No. 4 on the southeast quarter of the southeast quarter of + section 9-15-29, is near the sand and an early completion is expected there. Ina notice sent to stockholders, the Kinney Oil & Refining company an mounces the passing of the dividend which was due on June 30.. Cuts in the price of crude ai! have caused a decline in the income of the com- pany to such an extent that it is con sidered inadvisable to continue divi- dend payments at this time, when new and important development work is planned. In March of this year, the Kinney Oil & Refining cogpleted a well on its lease in Hull, Kansas, one-half mite distant from its nearest producer. This well made 150 barrels initially, and na@w holds steadily at 115 barrels per day. The new well is considered to prove a new producing zone in the field, and other wells will be drilled when better conditions in the industry warrant increased production, Aside from the decrease in the mar. ket price of crude, the position of the company fs improved over that af last year. The net production during May, 1921, was over 9,700 barrels, exceed- ing the production of any month in 1920. The Big Muddy lease shows steady production; Grass Creek wells have been deepened with consequent rise in production; the new Hull well assures greater producticn; and the lease has finally been granted tq the Ohio Oi! company on the southwest quarter of section 3-39-79 in Salt Creek, in which Kinney bas a 20 per eent working interest. ‘There is a capped producing well on this lease. Kinney has a share. in a promising test well in Utah, and purchased a } lease on 160 acres in Salt Creek at the recent sale. Cash on hand amounts get 490.000, with no reo bills. a : ‘ VAN CAMP BONDS ARE OFFERED INVESTORS The Tribune is pu’ page four an adve: Rollins & Sons, a bond house of Den- ver, Colo., (who have been doing busi- ness in this section in the past 40 years) affering $3,000,000 of 8 per cent first. mortgage bonds, running years of the Van Camp Packing com: panyy This company’s products are known to practically every house- hold. We are all fam{¥ar with Camp's Pork and Beans.” This com pany has been very successful, its business having been established in 1861. In order to interest the people generally in the securities of this com- pany, th bonds are being issued in small pieces as low as $100, the in- tent of the company being that people who .are.using their products. would like to own its bonds. The company has greatly enlarged its scope of op- eration. It now owns and operates 14 plants, and has increased its prod- ucts to 50 different varieties, includ- ing lard compounds, edible lards and soaps. The bonds of this corporation are well worth the consideration of in- vestors of moderate means. —————>_— WATER SUPPLY FOUND IN RED DESERT FIELD Drilling troubles of the Anna Belle Wyoming Oil company in the Pickett lake region of the Red Desert country will be elfminated to a large extent by the discovery of a large flow of water at 210 feet. Drilling was stopped on this well and the rig skidded to a new location a short distance away, where 15-inch casing is now being carried at 200 feet. Water supply has been one of the greatest handicaps: ‘n the desert reg- fon and the company is now assured of a plentiful supply for carrying on Grilling. In the second well, the wa- ter will be cased off and the well car- riéd to the oil sand. Satisfactory prog- ress is being made. MONKEY WITH THE WORTHAM SHOWS Clarence A. Wortham's show tram arrived in Casper this morning and remained loaded for some time after their arrival. It was the intention to locate the shows on Railroad ave- nue west of the baseball park. However, the back water from the recent heavy rains made it imprac- tical to use this site. The shows, however, will soon be located and the tent city will then rise a field of giant mushrooms. There are 22 attractions and 5 rides with the traveling city. They are in Casper under the aspices of the George W. Vroman Post No. 2 American Legion. They will re main until Saturday, on which day they will close at midnight. While here they will present perform. ances afternoon and evening. Geologists Oil Field Maps Blue Prints Explorations Reports Wyoming Map & Blue Print Co. Oil Expe-ts . | Lusk Petroleum. Hutton Take Jupiter Mike Henry . Mountain and Guilt Northwest Outwest Picardy . Riverton Refg. Royalty and Producers Sunset .... Tom Bell Royalty Western Exploration 1.60 1.05 Wind River Refg. .... .01 02 Wyo-Kans. 1.00 1.50 Wyo-Tex. «+ 02 4 “WrOssNG CRUDE OIL MAKE: Grass Creek =~$1.16 Torchlight -- 1,15) Elk Basin 1.15 Greybull -. 1.15 Lance Creek ~ pw Lander DRILLING OF TEST WELL NEAR CASPER BEING RESUMED TODAY An interesting test well is being put down close to Casper, on the Carlson ranch, section 27-33-79. The Four States Oil] PRESENTS PAKTY RETURNS. and Drilling company is drilling the well, on a 50-50 basis| WASHINGTON, wie the Repsac Investment company. 214 miles south of the old well drilled by Dr. Salathy, on the It is claimed that gas was obtained in the Goengo. x1 river on the presidential yacht Shipp homestead. Salathy well, that this caught fire, | _ was extinguished and the well drilled | down after shutting off the gas. The Salathy well, however, was never | completed. | The Four States well has been held up for about three weeks awaiting | the delivery of casing, which has now been received. Drilling is being re- sumed today, and if expectations of officials are realized, it would not be surprising to see the well completed within a matter of weeks. C. Wheeler, president of the Four States Oil and Drilling company, states that indications thus far point to produc- tion, good showings having been en- countered in the drilling to date. Mr. Wheeler also said that production might be reached around 1,500 feet. Should the Four States well, or any of the tests close in to Casper, strike production, the discovery would probably .bring on a boom similar to that in certain towns and cities in Texas, where overnight a quiet com- munity became a bedlam of activity. The depressed condition of the oil in- @ustry would probably have little ef- fect, the activity in a newly discov- ered oil area apparently being inde- pendent of existing conditions. THERE is as much com- fort in good, pure food as in any other blessing with which man is en- dowed. Our bread is at the top of the perfect provender program. It is tasty and always uni- form in quality. Ask for our bread by name. FURNISHED BY TAYLOR & CLAY Ground Floor Oil Exchange Bidg. Phones 203-204 Pan-American Pete .. Se ORE She Casper Daily Eribune b. GOP NEWS <3 strong to Se nighor: plats and graaty top yearlings. $9.16; veal calves, $8.25@9. pts, 43,000; market ac pigs, fully 25c higher; bulk $8.10@8.25. Sheep — Receipts, 10,000; market generally 50c to 75c higher; some heavy ewes up more; Idaho lambs, $12.65 straight; top natives early, $12; wheat, opening Meare tose up, including September 63% to 64c, he concept underwent a moderate gen- Open. Ciose. -$106.50 $105.58 19.87 18.75 Denver Livestock. of rain tended later to ral-| DENVER, June 20.—Cattle — Re ly the market somewhat. The close|°*Pts. 4,600; market strong; beef was heavy, Ko to Se net lower, with |Stees. $6.75@7.75; cows and heifers, September 62% to 63%c. $5.50@7.50; calves, $8@10.50; stockers Oats were governed by the action of |""4 feeders. $4@6; bulls, $304.50. other starting unchanged to Receipts. 1.600; market high- %4c higher, September 39% to 39%c|¢r: top, $8.10; bulk, $7.6008. and then undergoin; Sheep — Receipts, 1,000; market steady; lambs, $8.50@10. $3.50@4.50. Closing ae ae “Snemeer| Rib Is Nose Corh—July 62%c, September 63\c.! Oats—July 37%c, September 39%c. Pork—July $17.15, September $18. Lard—July $10, September $16.; Ribs—July $1 September $10.6: Provisions. CHICAGO, June 20.—Butter—High- er; creamery extras, 33c; Rock Creek Salt Creek ------—-. Pilot Butte --.. standards, Hamitten “Decne. firsts, 28@32c; seconds, 24 Mule Creek ——-. Eggs—Steady; receipts, 22,583 cases; firsts, 24c; standards, 24%c; ordinary firsts, 20@2ic; at mark, cases in- cluded, 22@23c. S Poultry—Alive, higher; fowls, 26c; broilers, 32@40c. CHICAGO, June 20.—FPotatoes—Re- ceipts, 88 cars; old, weak; new, steady; northern white, 50@55c cwt.; Virginia $4.25 barrel; Carolina, $3.50@3.60 barrel. — ~—__—_ June 20.—Presi- dent and Mrs. Harding and guests re- turned to Washington early today from a week-end cruise down the Po- The location is about taurant. An 8 Per Cent First Mortgage Investment In Denominations of $100, $500, $1000 Millions Eat Van Camp Products One hundred and ten million people live in the United States, Food for all these people comes thru the wholesale grocers. Ninety-five per cent of the wholesale grocers are Van Camp customers. “Van Camp” is a household word. Since 1861 Van Camp has been successfully manufactur- ing and selling essential food products. Van Camp properties now include fourteen plants, pro- ducing over fifty articles of national domestic con- sumption. Because this company’s business is national in scope, be- cause it deals in prime necessities of life, and because it has proven its ability to earn far in excess of bond inter- est requirements, we strongly recommend— VAN CAMP PACKING COMPANY, INC. First Mortgage 20-Year “CAPITOL LIFE” McGREW PHONE 153 | Box 325 Rm. 10, Lyric 8 Per Cent Sinking Fund Bonds Price 99 and Interest To Yield 8.10% Upon receipt of your name and address, we will immediately send you by first-class mail a full description of these bonds. Name onc Geis oso nsbgnusacscnbwocccocssetwevecesesocwebesecsctcecece Street and Number ...2....-.0---eeceecsecsceeeeee CIty wee ee cw cent cece cee n ec ee ccc cew E. H. ROLLINS & SONS $15 International Trust Bldg., Denver. ‘Telephone Main 1409 Boston, San Francisco. Los Angeles, Chicago, New York, Address Your Replies to Department I GRAINS LOWER ee ne STOCKS SAG AT OPENING TODAY losses of 2 to 6 points, involving many tow ectiis fer a tonk Saroe ob amES marked another day of drastic liquida- tion on the stock exchange. Sales approximated 1,290,000 shares, The NEW YORK, June the stock market opened with new low! records for the current movement j Crucible and United S*ates Stee’, Pald- win Locomotive, Harvester, General Asphalt, Royal Dutch ent macy of motor and food shares were lower by fractions to 1% points. Coca Cola | featured the minor specialties, rising | tion to local investors and homeseek- more than 2 points at the outset.jers will be postponed several days, hut soon reacting. Metals, leathers, |according to the announcement made and the cheaper ais also established bie ged afternoon by the Van od lower ‘prices. Investment company. Muddy Offerings of Canadian Pacific in coasts which le between the pave- large volume during the niorning.ment anf the addition foreed the price down 4 points to 101,|responsible for delay in he on saeduie \ the lowest quotation in 20 years. Un- —— on the market jon. Pacific Iqst 2% and Reading 2%. Hlinois Central, St. Paul, Baltimore & Ohio, Delaware & Hudson, Missouri Pacific preferred, ahd Pittsburgh & West Virginia fell 1 to 2 points. United States Steel at 724 was at a new minimum for five years and increased wenkness attended persistent se¥ing of Bethlehem, Crucible and Lacka- wanna Steel Well as Baldwin Lo- comotive and Harvester. Supporting orders steadigd Mexican and Pan- American Petroleums, but domestic’ and European ails were heavy. To- bacco, rubber, leather, textile and food specialties showed losses of 1 to 3% points. Call money opened at 5% per cent. ‘ THi >f Oh Sacusfawor(o- Money and Exchange. r = NEW YORK, June 20.—Prime mer- cantile paper, 6%4@6% per cent. | Exchange—Heavy; sterling, de mand, $3.77%; cables, $3.77%. Francs—Demand 8.14, cables 8.16. “ ae ftrancs—Demand 8.04, cables Guilders — Demand 33.30, cables LESPERANCE BROKERAGE au Duy, eels or loan mon pa 1147. We ee GEBO Furniture moving, Covered vans, fire ewok etorae, bea Quick Ganatee to any part. of th Arona TR. RANSF time NalrOne 'PNONE S45 SFUEL SS A Factory Demonstrator will give a onstration of the many uses to which : be applied in the home with profit the owner. You will be taught to in 5 means to make old floors’ Ieck like minuias. To gain “You are cordially invited to luring the dates given below and satiety soicenit he ae and successfully any one can re-finish and beautify Floors, F Ww Walls, Screen Radiators, Fi Autos, Ete. WITH CHI-NAMEL PRODUCTS veal ats a Chi-Namel product “Sy everything in on “Chi -Namet Dept Es and ‘pleasure 14 -learn to Grain in 3 minutes! 2 reo CHI-NAMEL DEMONES Ean A FREE COUPON This coupon will entitle the holder to a 35c Can of Chi-Namel Free if presented upon any of new 25c brush punch ie tarnish. ce el pie i! dates given below anda ased to insure a fair trial of the This coupon will also b purchase of a larger can. Date of demonstration June 18, 20, 21, 1921. Holmes Hardware Co, A Baby Bond Store. Phone 601. e accepted as 35c upon the