Casper Daily Tribune Newspaper, December 13, 1921, Page 6

PAGE SIX MARKET GOSolP GALT GREEK IS BIGGER THAN MEXI Estimates compiled by representatives of the Standard Oil MAAET GOSSIP AND FIELD NEWS| Todagrs Markets by Wire| [EUROPEAN OILS [LLGUSSAUMT | [c= =) FIELD NEWa interests recently, and upon which deals involving millions of dollars were concluded, place the potential terests recently estimated the production of the Salt Creek field in Wyoming at 450,000,000 barrels, or three times as much as its new Texas rival. This comparison, made by the best experts in the business, is rather sig nificant in the light of the claims that are being made for the new Texas de: velopment in some quarters. It was stated that the Standard men in mak- ing their estimate of the Mexia field, consider the figures a guess based on present showing of wells, knowledge of the sands from which the produc- tion comes and the probable produc ing area as mapped by the geologists, while the Salt Creek estimates are based on detailed information as to porosity of sands and Their figures are higher than mates of the U. 8 geological survey which placed po- tential production of Salt Creek orig: ‘nally at 400,000,000 barrels from which amount depletion in the last four years must be deducted while the Btandard figures are of more recent date. ‘The claim is being made that Mexia {e a second Cashing field and this claim appears to be in line to the sul tained by performance. But at the same time it is pointed out t Salt Creek is making @ greater record thar well capacity, product! Cushing in some respects and it ent estimates are sustained, will far exceed tha famous field. Cushing was @iscovered in March, 1921. Its first well was a 25-barrel producer. The next development brought in a well flowing 3,000 barrels b was not until December 1913, t the real Cushing was opened. This was the Prairie test on the Tucker farm which resulted in a 600-barrel producer in the Bartlesville sand. In 1914 wells making as high as 10,752 barrels were Grilled in and in that year the field 21,944,985 barrels. the output was 49,079,704 Two-thirds of this output came from the wells during the first six months of the year after which the production steadily declined. The total output of the field was around 160,000,000 barrels, or, one-third of the estimated potential production of Salt Creek. Cushing had gas wells, some of which had an output of 100,000,000 cubla feet per day. This gas pres- sure was what caused the enormous flush production running, at one time, st the rate of 325,000 barrels a day. For the same reagon, the production went down rapidly. Balt Creek has no big gas wells. Its ofl wells are the most consistent producers in the country, with Penn- sylvania as its only rival in that re- spect. Salt Creek wells have come in for as large production, or larger, than the biggest Cushing and these wells are still producing. produced year, 1915, Elk Basin Consolidated. Stockholders of the Elk Basin Con- scvidated Petroleum company will scan be asked to vote upon a propos: al t) change its name to the Mutual Oil axmpany of Maine. and to take over and ccnsolidate its holdings and the hddings of its affiliated and sub- sidiary companies. The Mutual Oil company of Arizona, the refining and marketing subsidiary, will be dis- solved. There will be no change in the personal of the organization ex- cept that President F. W. Freeman will become chairman of the board and Oscar H. Williams, president of the Mutual of Arizona, will succeed Free- man as president of the new concern. 8, H. Keoughan will continue as vice president. Preliminary work towards consolidating the various properties has been under way for some time. ‘The Mutual Oil company has taken over the Mutual Producing and Refin. ing company, the Northwestern Ot) and Refining company, and several roduction of the Mexia field, in Texas, at 150,000,000 barrels. The same in- fand was tied up but the Good well vas finally completed as a dry ho! The Ohio company’s test of the O’- Springs structure northwest of operation and north of Rawlins, ia down 2,225 feet, This well is on 2- £4 Midwest, Matador and other ‘companies have hoklings on this struo- ture which is one of the largest, as mapped by the geologists in Wyoming. The Ohio test struck gas at around 3,1 100 foot which resulted in an explo- sion and the burning of the rig which has been replaced. Capitol Pete . Columbine .. Consolidated Royalty. 1.25 Friction Fires Gas Well. \" Gas in the Troy-.Swoetgrass Oil syn- dicat test on 21-34n-lw, Gas Ridge Dome, Toole county, Montana, be- came ignited from friction and burned tbe rig to the ground. It is being re placed and drilling will be resumed in about three weeks. This well is being rut down with a didmond drill, At 1,115 feet a flow of gas, estimated at more than 2,000,000. cubic feet, wi encountered in the KKootenal. Drill- ing had proceeded to "1,361 feet and bad been working in a limestone for. mation for about 70 feet when the dan rozt The driliers were pre wring to overream and were pulling the rods up past the gas sand when friction resulted In the eyplosion. The crill takes out a core which permits a detailed log of the well. The core the yast few feet has been full of holes fled with black oil. Mike Henry Mountain and Gulf ., Northwest Outwest Ploardy . Riverton Refg. . white, $1.70@1.80 cwt.; Mn sacked round white, $1.65@1.70 owt. Minnesota sacked Red Rivers, $: 1.75 cwt.; Idaho sacked rurals, $1.75 BUYING SLACK. GRAINS LOWER Uncertainty of European Financial Situation Reflect- ed in Market. sacked, poorly graded, $1.40 cwt.; Ne- braska sacked rurals, 1.80 ewt. Closing Quotations. CHICAGO, Dec. 13.— Wheat— 54% $1 31% 37% 38% 14.90 CHICAGO, Dec. 13.—Absence of buying orders led to a material set- back in wheat “prices today during the early trading. Uncertainty as to . the European financial situation to- z . = gether with downturns in foreign ex- change secmed to have considerable 755 7.50 = 7.50 5 bearish effect. Estimates of a large 1387 UIT 7.80 exportable surplus in Argentina tend- be ed to weaken the market despite re- ports that harvest weather was unfa- vorable. Opening quotations, which varied from i%e to le lower with May $1 to $1.12% and July $1.01% to $1.02 were followed by a further de cline. CHICAGO, Dec. 13 Something of a rally took place|creamery extras, later owing to reports that Europel43c; seconds, 32@34c; standards, ‘38v. Poultry. unsettled; fow! 2i1c; turkeys, 37: ) 14@22%e; roosters, 15c. Butter and Eggs. Today’s Markets by Wire FURNISHED BY TAYLOR & CLAY Greund Fleor Oil Exchange Bidg. Phones 203-204 Sterling Francs Viet 4 3 WxoMING cktpa OIL, MARE 260 higher; $10; bulk beet steers, $6.50@8.00. 100 lower; tend: money opened @1.85 cwt.; Nebraska Bliss triumphs Sans ant beidift of = se and yearlings, jsheep and feeders steady; early to packers and some held higher; fed shore, Sui36 37% | $9 celpts, | @5.40; calves, $6.60@9. 50; ‘bulls, $2@ CHICAGO, Dec. 13.—Poultry, alive, |er; springs, 4.4 pert workmen. Casper Jewelry “Mtg. Co., "0-3 Blde,| ery spot 4.90@4.95. }EUROPEAN OILS HEAVY IN MART) soe Wegers = Phis Sal a ; 8 aa ill ini & : fl 134 ST 10.25 6.25 3 Ba Po apple og) lip ip me nr ‘were insignificant. ‘Trading was in moderate volume and only a few of the usual speculative favorites were quoted within the first half hour. Royal Dutch reacted 1 point, while 62 83.62) Mexican Petroleum gained that much. inion Pacific R. R. .. 127.00 127.5 | Profit taking in the leading foreign ex- changes caused sharp recessions from FOREIGN EXCHANGE. yesterday's substantial advancer, Bterling reacted another two cents and the French, Italian and German rates wore lower by 8 to 16 points. Reports that the Mexican govern- ment had decided to abrogate the higher export tax on oils made that group the center of interest before noon. Mexican Petroleum rose 3 points and gains of 1 to 2% points were made by Pan-American General Asphalt, Houston and Standard Oi! of California. Copper and kindred shares improv- ed their carly position, Federal Min- ing and Smelting common and pre- ferred scoring the greatest gains. Replogle, Vanadium, Virginia Iron, American Car and Todsecco and chain store specialties also improved, The only rails to show even moder- 00d to ate strength were Chicago and North Sr ace, Yearlings| western, ‘Illinois Central and New York, Chicago and St. Louis. Call Pe bid si po pe url A Cha or ‘Burke Oil Com- ipon basis of three We are now located at 437 Gyvenue and are all kinds hee Hoge—Receipta, 53,000; steady to ippers buy! liber. soveral of big packers ning eet Foreign wahanpe areas tet NEW YORK, Dec. 13,—Great Brit- 16@ mostly 10; $7.1 30@7.40. i Bina ‘bal of Sheep—Receipts, 14,000; fat lambs strong to 25¢ higher; fat lambs cables 4.65%. Belgium—Demand 7.74; cables 7.75. cables fed shorn lambs, * PENS Pe FS _ TUESDAY, SE ___________i iff ©0e eee pemermme 00,08 ay, vec 13, 1921. rats, Docsae-4 Seeeiiies . 8. and six months “Eoin Dee 10 t9 40 incunva cater 5O5%. Another Railroad Into Casper Could Not Bring a Better Selection of . XMAS GIFTS Than You Can Secure at the CASPER: PHARMACY Cut Glass, Silverware, Up-to-Date J: ewelry, Eastman Kodaks, Kodak Albums, Leather Goods, Perfumes, Stationery, Shaeffer & onklin Fountain Pens, Sharppoint Pen- cils, Box Candy, Ivory Goods. We Welcome You to Casper’s Drug Store, the Casper Pharmacy DRUGS AND JEWELRY 111 East Second Street Casper, Wyo. H. E. Grude Gormavibin Owns and operates apartment buildings and does a general { Yestment business, Paya 12 per cont annual dividends besides crest, | surplus. Some stock sti!l avaliable, which can be purchased Maina aang fe toate oe ee ‘This corporation is a Casper company, owned by Casper peo- ple and invests {ts money in building homes for Casper people. Over Se town. was spent by us this year and not $1.00 was sent out ‘H. E. Grude Corporation Office: Casper Realty Co. Phone381 108 South Center Street 0.00; choice, ‘pound yearlings, light fat ewes early, $5.50, Denver Quotations. Greece—Demand 4.15. , DENVER, Dec. 13 ttle Re| < Argentina—Demand 33.30. 1,800; marke Cai Pat Brazil—Demand 13.25. steady; bee cers, $507; cows and heifers, $200 | Montren—02.25. Metals, ~ NEW YORK, Nec. 13.—-Copper— Steady; electrolytic, spot and nearby, 13% @1fc; later 14c. Tin—Fasier; Spot and nearby 32.87; futures 32.75. Iron—Steady; unchanged. Lead—Steady; spot 4.70@4.80, Zinc—Quiet; East St. Louis deliv- tockers and feeders, $4.50@6. Hogs—Receipts, 1,200; has 2c wer; top, $6.55; bul, $5. 75@6.50. Shi heep—Receipts 700; market strong- lambs, $8.75@9.75; ewes, $3.50@ feeder lambs, $7.75@8.50. Sr Jewelry and watch” Rpatring by ex. All work guarant 3-5-tf Antimony—Spot 4.50@4.55. had bought 1,000,1000 bushels. The] Eggs—Lower; reeipts 3,477 cases; close was unsettled, % to 1%c net|cirsts, 50c; ordinary firsts, 43@45c; Jlower, with May $141% to $1.11%|imisccllaneous, 46@480; refrigerator and July $1.01% to $1.01%. firsts, 37@88c. Liberal arrivals of corn put corn and oats on the downgrade. ‘After opening a'shade to %c off with May at 53c to 53%c, the corn market con- tinued to sag. In the late dealings prices showed but ttle power to recover. The close was easy at %o to %o net decline with May 52%c, Oats started unchanged to %@%c lower, May 37% to 87%c and later showed a moderate general decline. Provisions were weak in line with hogs and grain. Livestock Mart CHICAGO, Dec. 13.—{U. 8. Bureau of Markets.)—Cattlé—Receipts, 11,000; generally steady; quality very plain; canners and cutters dull; veal calves, W. F. Dunn Phone 27 HAY, GRAIN AND FEED Best Quality, Lowest Price Pr CHICAGO, Dec. 13. — Potatoes — Steady; receipts, 25 cars; total United marketing concerns which {t now pro poses to turn over to the parent or. ganization. Showing in Utah Test. The Castledale Oil company drilling for its joint account with the Hill Creek Oil and Refining company, on section 1-158-19e, Hill Creek structure, iJinta Basin, northeastern Utah, en- countered a good showing of oil in a hard shale at around 300 feet. This stale has some of the characteristics ef @ cap rock but the sand beneath, it one exists has not yet been pene trated. “While the showing is not of ccemmercial importance, it 1s encou aging as checking with the geologi al reports whith predicted a posetble commercial sand at around 400 fect, though the objective sand is not pected until a depth of 1,000 to 1, feet is reached. The } Refining company has acreage on t structure which was reported rv to have been turned over to west Refining ompany cn an op) contract. This development ts attract ing more attention in Utah at this time than any other following the abandonment of two structures by the Obie Oll company. Fort Steele Wildcat. ‘The wildcat being drilled by the Chio Oil company on 28-21-85, near Fort Steele, in Carbon county, has Leen abandonefi ut 2,250 feet. The lo- cation is a little more than four miles outheat of the Good well on 36-22-86, which created considerable excitement in June, 1920, when it reached an ott sand at 1,905 feet which looked | a producer. There was a consid rush to the district and most of the For That Good CHILE 108 N. Center St. States shipments 326; Wisconsin sack- ed round white $1.65@1.75 cwt.; Wis- consin and Michigan bulk round Industrial Ave. 6 GET. esternized” Finish Building Before Spring Work Begins And to do that you must have the lumber in a hurry— that’s where we are strong. Our stocks are large and complete, our prices are always very reasonable. Our materials for buildin, d en maces g and our lumber is of the We charge you nothing for advice on your building propositions, nor for the extra quality and prompt service that goes with every purchase. Lumber, Cement, Lath, Shingles, Roofing, Etc. estern Lumber Co. Phone 765 Yard Offices, 300 North Center St. MARINE OIL We call your attention to the investment features of this stock. Eastern marketing arrangements under way and we anticipate higher market prices. Extra dividend 2 per cent payable on December 20. Give us your bids and offers. Taylor & Clay, Inc. Oil Exchange Bldg: Casper, Wyo. Buy That Lorain Now Gas Range And receive your choice of either a high grade aluminum roaster, Univer- sal gold decorated casserole with stand or several pieces of Pyrex glass oven dishes free. This special offer applies to any style of Lorain gas range in our stock. CLARE JEWEL fe Monae WITH fa PRICED FROM $65.00 UP. This Special Offer Good Until Dec. 24th. Casper Gas Appliance Co. 119 Ps First St. Phone 1500 MESSENGER AND PARCEL DELIVERY WE DELIVER THE GOODS. OWL TAXI OFFICE Phone 75 115 West Second Street SHOES SHOES SHOES ANY SHOE IN OUR SHOP AT COST. $7.50 Puttees at $5.95 THIS WEEK ONLY Natrona Shoe Shop 114 East Midwest Avenue 1921 condit 8 192¢ Wwagor Price | FOR new ance { cash, Diesel, — FOR § tires, $300; m FOR § term: