Casper Daily Tribune Newspaper, November 10, 1921, Page 8

; ’ 7 i PAGE EIGHT WMRKET GOSSIP AND FIELD NEWS NO DEMAND FOR PROSPEGT WORK Instructions have gone forward from the interior depart- ment at Washington to all land offices affected that permit- tees and prospectors SLUMP AGAIN Corn Leads Way While Wheat Is Bolstered by Dry Weather in Southwest. CHICAGO, Nov. 10.—Grain prices] had a downwa tendency today 1 the early part of the session, being affected by the huge ply of old and new corn shown in-the govern ment crop report’ Continued dry weather in the southwest failed to act ket. that an offset in the wheat mar although assertions were made as @ result of drought 40 per cent of the Kansas wheat acreage would be a total failure. On the other hand, good buying was in evidence on the declines. Opening quotations, which ranged from \c to %c lower, with December $1.05% to $1.05% and May $1.10% to $1114, were followed by slight rallies which, however, proved transient. Subsequent bearish sentiment tn creased, owing more or lesa to gen \eral rains tn Australia. The close was unsettled, 1 to 130 net lower, Decem ther $1.04% to $1.04% and May $1.09% to $1.09%. In the corn market, gossip was cur- rent that the country had sold very free overnight. After opening %c to %c,lower, corn prices sagged a Ut fle more and then rallied somewhat. Later the market underwept a more pronounced setback. Prices @losed nervous, 1%0 to 1%0 net low- @x, with May at 52c to 52i%e. Oats started %4@tic to tc off, #7 %c to S7is0, and apparently swithout much power to rally. Provisions were easier in litte grain. y bi May was with] Closing Quotations. CHICAGO, Nov. 10.— ‘Wheat— Open. High. Low. Close. $1.05%% $1,065 $1.04% $1.04% — 110% 1.11% 1.09% 1.09% AT 4% 43% 58% 51% «52 | F 3% 82y 27% ait 2 — —- 14.00 862 847 8.47 | 4 9.05 8.95 5 8.9) 7.08 Potatoes. CHICAGO, Nov. 10—Potatoes— Market easier; receipts, 73 cars; total United States shipments, 65 1 River Ohio's, $1.35@1.65 cwt.; others mmnchanged. Poultry. CHICAGO, Nov. 10. — Poultry— ‘Alive, lower; fowls, 15@22c; eprings. 220; turkeys, 83c; roosters, 13%c. Livestock Mart CHICAGO, Nov. 10—(U. 8. Bureau of Markets—Cattle — Receipts, 14, 000; market very dull; all grades beef steers and fat she stock 150 to 25c lower; top yearlings, $11 1,818-pound steers, $10 holce 1,500 pound bullocks, $9; bulk beef steers, $6@8.50; bulls, canners and cutters. atockers and feeders weak; calves 50c lower; bulk vealers, $8.50@9, Hoge—Recetpts, 36,000; mostly 10c to 1bc higher than yesterday's aver- age; top, $7.50 for light lights and one load choice medium weights, $7.40 practical limit; bulk, $7.10@7.40; pigs fully 25c higher; bulk destrable, $7.15@8, mostly $8. Sheep—Receipts, 16,000; fat lambs strong to 25c higher; sheep firm; feed er lambs easter; $2.25; bulk, $9; jambs, ewes around $4. Denver Quotations. DENVER, Nov. 10.—Cat Celpts, 1,100; market slow, about ateady; beef steers, $5@6.50; cows and heifers, 33.50@4. calv @9.50; bulls, $2@3; stockers and feeders, 34.50@5.75. Hogs—Receipts, 1,100; market to 50c lower; top, $7.60; bulk, $ 7.40. Sheep — Receipts, 6,200; market mteady to stron: lambs, $7.50@8.25 ewes, $3.75@4 feeder lambs. @s. Daughters of Confederacy Name Officers ST. LOUIS, Nov. 10.—Mrs. Living- ston Rewe Schuyler of New York to- day was elected president general of the United Daughters of the Conted- eracy, in convention here. Her elec- tion was by acclamation. She is the first woman living north of the Ma- son and Dtxon line ever elected to the office. a The region ebou one of the hot was looked for. under the oil land leasing law that! statements and showings of assessment and development! work on such claims will not be demanded by the depart-| Burke ..... ment this year in view of the depression in the oil industry GRAIN PRICES: uring the last year, according to re- the the work which pros-| rs must do on these Jands and| cress has no power to postpone rests with the interior to demand the showings this will not be done, it is un- rts reaching Casper. w specified While ork, it nt ar rstood. If the report ts authentic, and it {s| accepted as reliable in circles which re in touch with the situation, pros will be re large ors and permittees wed of great anxiety as mount of such work has Jone. i a not bee: STOCKS HIGHER ONEARLY SALES: Foreign Oils Make Gains at Opening, Issues Higher All NEW YO ng, such as u ally preceds a holida: pcurred in the stock market today. S were mainly limited to inactive specialties. Sales approximated The closing was irregu 900 shares. esterday’s outsanding ut soon more than recovered its loss. Other foreign oils, as well as the prom- inent domestic issues, were higher by, fractions of 1 transcontinental and coal division also point. Rails of the mpreved. American Car was among the strong equipments -with Balgwin Locomotive, Forelgn Sliver. NEW YORK, Nov. 10.—Foreign bar silver, 58%c; Mexican dollars, 62%c. Metals. NEW YORK, ov. irm; electrolytic, @18 Tin— 10.—Copper— spet and nearby, ter 13% @13%. pot 28.75 @29.00. unchanged. spot 4.70. Bt, nearby, Lous spot, Antimony—Spot, @5.00. ‘orcign Exchange — Steady. EW YORK, Nov. 10.—Great Brit- Demand 3.94%; cables 3.94%. France—Demand 7.27; cables 7.27%.| Office, as of January 3, 1921, to wit: Italy—Demand.4.11%; cables 432. | utariy in the investigation it be lgium—Demand 6.95%; cables came evident that there were cer- conditio; Bt thi many—Demand 0.36%; cables] (@!8_ monopolistic bs pein and—Deiand 34.55; cables 34.61. and 18.80 pain—Demand 13.9) Greece—Demand 4.20. Argentina—Demand Brazil—Demand 12.87, Montreal—91.874 ‘Mimics Chaplin _S Sas <r ae | _Jackte™ Coogan’ co-starred ~ with Charlie Chaplin in “The Kid.” Now is a star in his own right in “My And he wears a Chaplin jtache! All Kinds of Poul! the sea loses ms €ay by evaporation, be Casper Daily Cribune by the production of refined’products| Helplessness in this case can be| JUSTICE AGENT APPOINTED. special agent § the t of by the Midwest plants. At the pres-|but the failufe to exercise existing ity “was announc.., ang approximately tment. PE es a eT ES EERE ers Se ly, while it produces only about 11,-\qm]’ enactments hare preserved FURNISHED BY TAYLOR & CLAY erase barrels." (Page 62 of god bey ae 8 ee Ground Floor Oil Exchange Bldg. Phones 203-204 ~Onnditions ‘of ‘cuabaettahs da ice Lesaey eee eee eee moms Over one a peieOy wossest: Ber ? b ume . Wotton. ©: nai, Adetuate State controt of ine Let’s Get Back to B iness \ Bh Te OU Ficlis transportation. ‘ ¥ 22 , | Big et ae Sam 39 90 | Sning Co. and the admitted Standard) (9) ser of the Btate royalty ofl as oston-Wyoming .... Western States. 40 43 JOU companies. The Midwest Refln-|ne bests for the construction and op- | Buck Creek NEW YORK CURB CLOSING. |!" Co. controlled almost 65 per cent independent re- ma Ask | Of the entire production of the State. 7 If, a the ent of the . Black Tail... Merritt . $12.00 $ 12.25|A® already shown, this control was Federal royalty uring excitem ed wean | Blackstone Salt Glenrock Ol. 1.57 ‘tue’ ented pe theo Ppaign, you have overloo! ordering Capitol Pete Salt Creck . 14.62 for large: inde- office stationery bring us your order Columbine . Prod. & Refrs. . Slight = THE MIOWEST REFINING COMPANY YEW YORK, Nov. 10.—Prices wero nly higher at the opening of to- *s stock market although profit- taking over the approaching holiday Mexican Petroleum, feature, ro acted a large fraction at the outset Casper Poultry & Fish Market HANDLES ALL KINDS OF EASTERN FISH FRESH SHIPMENT 3 TIMES A WEEK Fresh Oysters—Strictly Fresh Eggs. 227 W. YELLOWSTONE “onsolidated Royalty . 1.30 T. Frantz ates Jupiter Kinney lance Creek Royalty a | 2 1 | Marine |Mike Henry . | Mountain and | Northwest | Outwest | Picardy | Riverton Refs. Red Bank ... Wind River Refg. . WyoKans ... 1.25 WYOMING Grass Creek Etk Basin —.. Lance Creek --_ Hamilton Dome 1.40 AS AMONOPOLY, (Continued from Pago 1.) tions, and to individuals, associations and partnerships.” In the letter of transmittal which accompanies the report, the Chair- man of the Commission states: “The attention of the Commission was drawn to the situation in Wyom- ing by a complaint regarding certain alleged unsatisfactory conditions in connection with the production and sale of crude petroleum marketed. It soon became evident that there were monopolistic conditions in the pro- duction, pipe-line transportation, re- fining, and wholesale marketing of crude petroleum and its products throughout the entire Rocky Moun tain section, and the scope of the Commission's inquiry was broadened to: include such phases of the petro- Jeum business of that section." (age 7, Report). From the report itself, information can be obtained which is of interest to all of the people of the State of Wyoming, and for that reason there 4re herewith quoted various portions of the report Of the Federal Trade Commission on the petroleum tndus- try of Wyoming, as published by the Washington, Government Printing Wyoming ofl fields which made it desirable to broaden the scope of the inquiry and to make a comprehensive study of the entire petroleum indus- try of Wyoming.” (Page 11 of Re- port). “Production by Different Interests. —There is a greater concentration in |the ownership and controif crude- ell production in Wyoming than in any other important field in the United States.” (Page 25 of Report). “The independent production in Wyoming 1s very small and is obtain- ed in a number of widely separated fields. The entire independent pro- duction in the State of Wyoming during the period of 1917-1919 would have only been sufficient to supply a refinery With a daily capacity of 2, 500 barren even !f it could have been economically transported to one re- finery.” (Page 26 of Report-. “The Midwest Refining Company transports all of the crude petroleum from the Salt Creck Field and the Minols Pipe Line Company from the other fields.” (Pago 29 of Report). “At the present time the dally ca- | pacity of the refineries operated by ithe Midw Refining . Company equals 79 per cent of the total daily capacity of all refineries drawing up- on Wyoming for their crude supply, and the Midwest Refining Company and its subsidiary, the Utah O11 Re- fining Company, operate 85 per cent }of the total rated capaci while if the capacity of other Standard conr panies is included thelr daily capa- city is 90 per cent of the total.” (Page 34 of Report). In this connection it must be borne in mind that while the rated capa- city of all of The Midwest Refining Comfany and allied refineries is only 90 per cent of the total rated capa city,—yet the rated capacity is not indicative of the proportionate part of the crude ofl produced in Wyom |ing which is utilized by the refiner- fes, nor ts it indicative of the refin- eries which are actually operating in Wyoming. “It the consumption of the Utah Ol Refining Company, which is con- trolled by the Midwest, is included try Dressed to Order. PHONE 1384 CRUDB OIL MARKET, $1.90) Rock River --—----—W-~-------$1.50 1.99|Salt Creek 1.90} Big Muddy Cosden .... Blk Basin Cities Serv! S. O. Indiana ... Sinclair Oil .. Texas Oil 5 Pan American Pete .. S. Steel .. Union Pacific R. R Call money . LIBERTY EONDS. aie, 2... First 4s . Second 4s First 4%s . Second 4 Third 4\s Fourth 4%: Victory 4%s ae a - === 1.40 Mule Creek BY 6. E. BRIMMER with that of the Midwest refineries, the total consumption of the Midwest interests would be 11,230,202 barrels, Or 94.27 per cent, for 1918, and 11,- 914,008 barrels or 93.81 per cent, for 1919." (Page 35 of Report). In addition to the refineries of The Midwest Refining Company and of the Utah Of1 Refining Company, it must be borne in mind that the other refineries utilizing Wyoming crude of] and allied to The Midwest Refining Company have a datly rated capacity of 6300 barrels, as~ herein shown, to-wit: ~ Imperial Oil Company (Ltd.) Regina, Sas- katchewan -. - $8,000 barrels United oll Company, Florence,> Colorado-- 1,050 barre\p Mutual Refining & Pro- - aucing Co., Glenroc! Wyoming -------..- 1,500 barrels Northwestern -Oll_Refin- ing Co., Cowley, Wyoming -.. - 150 barrels “Significance of the Acquisition by the Standard Of! Co, (ndiana).—It has been shown in the preceding sec- tions that the Midwest Refining Co. 1s the largest factor in the produc: tion, transportation, and refining of crude petroleum in the State of Wroming, and that the second most important factor, in each of these branches, is some member of the Standard Oil group, The acquisition of 205,053 shares, or about 33 per cent, of stock of the Midwest Refin- ing Co. by the Standard Oil Co. (Indiana), has given control to the latter company and will in all proba- bility discourage the development of independent refinerfes in Wyoming.” (Page 52 of Report). . The position of the Midwest in the marketing of refined products will’ be Sreatly strengthened. as this com- pany has no marketing facilities of its own while the Standard OM Co. (Tndiana) has one of the largest mar- keting organizations ‘in the country and maintains distributing stations throughout 11 States. The Standard ON Co. (Indiana) will benefit by the control of crude petroleum produc- tion which had been acquired and Co, and the Ohio Ofl Co, are the only compantes that regularly purchase crude from the producer, and theit posted prices are the prices at which crude ofl not under contract is pur- chased. In some of the new fields there is but one pasted price—that of the Ohio Oil Co. The Ohio Of1 Co. fn turn sells a large crude production and” crude ir. chases to the Midwest Refining Co." (Pages 52 and 58 of Report) “The Imperial OU Co. (Ltd- at Regina, Saskatchewan, Canada, the United Olt Co., at Florence, Colo., both Standard companies, and the Utah Of Refining Co., at Salt Lake City, Utah, a subsidiary of the Mid- west Refining Co., al secure crude from the Wyoming ofl fields, but these companies make their pur- chases from either the Ohio Oil Co. or the Midwest Refining Co., and both of thege companies are now admitted to be in the Standard Of! group. Hence there is no real com- petition between purchasers of Wyo- ming crude ofl. As a result the price of crude at the wells during the last few years has been low compared with crude of similar quality produc- ed in the Mid-Continent Field. The high freght rates to eastern and southern refineries and the small supply that could be obtained by an independent refiner preclude the pos- sibility of competition for the pur- chase of Wyoming crude by such re- fineries.” (Page 53 of Report). The conclusion of the Federal ‘Trade Commission relative to exist- ing conditions in Wyoming is set forth in the concluding * paragraph of the Report, found upon page 34 thereof, and is in the ‘ollowing words, to-wit, 7 “With a large proportion of the crude petroleum production tn Wro- ming controlled by the Midwest Re- fining Co. through contracts which run until” 1934, and with the Ohio Ol Co, and other Standard compan- jes in control of most of the remain- ing production, the question natur- ally; arises,~How can any independent refining company become a factor in this section and what possible oppor- tunity 1s there for future competi: tion.” (Page 54 of Report). The finding made by the Federal ‘Trade Commission is a finding based upon a complete investigation into the existing and past conditions. This investigation covered a period ‘of approximately two years, and was thorough in its nature. The findings made and conclusions reached by the Commission are entitled to the ear- nest consideration of and full credit by the officials and citizens of Wyom- ing. The findings and the conclusions are in accord and bear out the conclu- sions heretofore reached by the Chief Executive of this State relative to the low prices paid for crude oll in the State and the unfair prices charged for refined products fn the same jurisdiction. The findings and the conclusion in- dicate na feeling of helplessness and hopelessness on the part of the Com- mission. No suggestion'for relief is offered. Tack of faith in tho exist- ence of a remedy for the admitted evils is evidenced. of 18 on (8) Appeal to the federal government for euch action as may be necessary under the terms of the Oil Leasing bill (Act of Congress of February 25, 1920) in order to compel The Midwest ‘Refining company to grant fair treat. ment to the state of Wyoming and its citizens. (7) As a last resort, in the event that action above referred to by the state and federal government has been without avail, an action of quo warranto by the state for the pur pose of expelling from the state of ‘Wyoming the corporation which has misused its+ privileges. GEO E. BRIMMER. Grain Official Dies Suddenly OMAHA, Neb., Nov. 10—Charles T. Neal, former vice president of the United States Grain corporation, died suddenly of gastritis at his home here early today. Mr. Neal was selected by Herbert Hoover to go to Burope in February, 1919, to assist in European. relief work. Ce He was 60 years of age. = Steel Orders Decline Again NEW YORK, Nov. 10.—The month ly tonnage report of the United States Steel corporation made public today, showed 4,286,829 tons of unfilled or- ders on hand October 31. This is a decline from unfilled orders on Sep- tember 30, which were 4,560,670. nobis. beheReg Highest prices paid for diamonds, ol4 gold and silver. H. B. Kline, Jeweler, Oil Exchange building. 8-15-tt —_——_—_ Art Metal files and safes are down to a pre-war basis. See g big stock of these products at The Mills company store, 139 West Second street, Casper Wyoming. 11-10-14-19-23.26 Stephen's Taxi Line PHONE 132 Courteous Drivers Quick Service Nanie 2. =. ro)" 5 [) opeenete ae) SS PRR Postoffice __...... Fill Out and Mail to ‘ The Casper Daily Trine Casper, Wyoming 1%c A WORD EACH 9AY—NO AD ACCEPTED FOR LESS THAN 25c COUNT YOUR WORDS AND ENCLOSE 14%c FOR EACH WORD—OR 18 WORDS FOR 23c—35 WORDS FOR 50c +———-Classification WAN ES --1--———--——Number of Days...._- :—Amount Enclosed —.____ Write Complete Ad Below, Including Name, Address or Phone MAIL WANT AD NOW and it will be delivered in twenty- four hours. You get the completed Job just the whinute it is promised. The Commercial Printing Co. PHONE 980-3 Basement Midwest Buildi>z;—Main Entrance Opposite Pistohice SUITS and! O’”COATS FOR THANKSGIVING Right now is the time to order your Thanksgiving tailoring and in that way avoid disappointment. Our offerings of fabrics are complete—later on*the choice patterns will be gone. 3—BIG VALUES—3 $29.50 - $39.50 - $49.50 Nowhere else can you get the extraordinary values we offereere. Our designing is correct. You get rea] individuality, good workmanship, the finest woolens. Come in now, Cleariing, Pressing, Repairing, Alterations and Dyeing Done by Workmen Who C.H.WHALEY PER’S LEADING. TAILOR * 116 East Midwest Ave. at 2 Phone 483-J Their Business. CAS! WYOMING AUDIT COMPANY 234 Midwest Refining Bldg. Phone 289 Audits, Financial Reports and Analyses, Income Tax Service and General Accounting. The H. E. Grude Corporation Is Now Issuing Stock to New Purchasers. We still have some stock left to offer which can be bought in amounts from $50 up, at $1.00 per share. This Stock Pays 12 Per Cent Dividend 3 Per Cent Payable Quarterly. Next Dividend Pay- able daponeyt) 1922, to Stockholders on Rec- 15, 1921 This company does a general investment business, owns and operates apartment buildings and is des- tined to be one of Wyoming’s strongest investment institutions. H.E. Grude Corporation Casper Realty Office, 108 S. Cent Phone 381 PURCHASE OF LYRIC THEATRE COMPANY’ STOCK. Van Gorden Investment Company Tribune Building :