Casper Daily Tribune Newspaper, March 25, 1922, Page 8

PACE EIGHT MARKET ! | NEW WELL NEAR ELK BASIN FIELD s=:s=2 BASIN, Wyo., March 25.—The Thompson-Elk Basin drill-!: ing on the Nettie Thompson lease in Elk Basin, brought in a good well Wednesday night. Oil flowed over the top of the ten-inch casing and it is estimated will easily make 100 bar-| rels. The production was encountered in the second sand at 2,300 feet and extends the productive area about three miles. GOSalP AND FIELD NEWS| GRAIN RALLIES FAL TO HOLD Encouraging Export News and Short Covering Only Bullish Factors. CHICAGO, March 25—May wheat ‘was under pressure at the opening of the Chicago Board of Trade today and the July spread was nar-owed to @round 34 cents. First prices saw 1%0c lower at $1.31% to was off %e at $1.17% September was %c low- May 1c to @ecline in the face of yesterday's lo- al advance and was inclined to dis- regard a big falling off in Australian shipments and orders. ‘The market broadened with a large trade on both sides. Commission houses and Chicago traders sold on the bulges but July received good sup- port on all breaks. Some encouraging export news and & dispohition by shorts to cover led to several sharp rallies but the market sagged in the closing half hour and final prices were $1.30% to $1.20% for May; $1.16 to $1.16% for July and $1.10% for Ceptember. Corn was weak at the opening and May broke to under 58%c which was below last week's inside figure. First prices were %4c to %c lower with May BS%c to 59%c, July 61%c and Septem- ber 6i%e. Corn turned heavy with wheat, May showing the largest net decline. Clos ing prices were May 57% to 58c; July 61 to 61%c and September 64%c. Oats showed a light trade early and started unchanged to %c lower, with May 36%c to 37c, July 39c and Sep- tember 40%c. An advance in the local hog mar- ket and higher prices at Liverpool for provisions were factors in estab- Ushing an advance in those commod-| & ities. Demand was fairly good and offerings light with lard generally 20 cents higher. Closing Quotations. Wheat— Open. High. Low. Clos May - - 1.31% 1.32% 130% 1.30 July - - 117% 1.1 116 861.16 Corn— May -- 58% 59% 57% 57% July -- .62 62 1% «61% Oats— May -. 36% 37 36% 26% Inly -. .39 239 38% © 38% 2 19.05 May -- 22.00 1110 10.92 10.92 mse «611.17 «11.17 11.02 10.80 10.80 10.62 10.32 10.32 Butter and Eggs. CHICAGO, March 25.—Butter un- changed. Eggs unchanged. Receipts cases. NEW WELL IN BOLTON FIELD [5 DRILLED IN A producing weil of extreme im- portance to the Bolton field southwest ef Casper was completed yesterday, when hole No. 11 of the Iowa Wyo ming company encountered the pro- ducing formation at 2,010 feet on the northeast quarter of section 9 1. The significant facts about the well are that it is located farther west on the structure than any other produc- ing well and that it was developed at 21,166 a shallower depth than any well in the field The showings {indicate that the apex of the structure where larger wells may be expected lie west of the present proven areas of the field. The well was drilled to a depth of 2,007 feet and the driers had orders not to complete the hole until officials of the Iowa-V 1s company, who CONTRACT SETTLEMENTS BEAR PRICES, WHEAT OFF FOR WEEK CHICAGO, March 2 week ago, the wheat market from 1 to 61gc a bushel. Oth to 33% and 314c; oats, 134 to 21,c and provisions 40 to 95c. Approach of the time for the wind- ing up of May contracts had much to do with bringing about pressure to sell wheat, especially the May de- ivery, and it was said in particular that one of the bggest holders in the market disposed of most of his line. Increasing supplies on ocean passage lended also to have a depressing ef- fect on values, and so too did evidence thet Argentine wheat could be obtain- much cheaper than ship r Can- 0 Bup- Heavy sales to make end-of-the-| season settlements have been largely responsible for a mate- rial setback in wheat prices this week. The Ashland-Wyoming drilling six miles north of Basin have casing set &t 2,815 feet and are drilling in the lime above the Embar with a showing of oll. The Fmbar should be encoun- tered by the first of the week. This test will be completed to the Tensleep. Empire securities company have se- cured the Lidister permit in the Himes| field and expect to 4rill through the| Madison limestone as a test. Shallow) production of heavy oil not to exxceed ten barrels is the record for wells drill-| ed in that field. It is expected that} the Madison will run 800 feet in that| district and the drilling depth will be| around 1,500 feet. The rig for Mercer dome arrived| here yesterday from Elk Basin and/ will be moved to the location by the Ohio the first of the week. A big camp has been built at Mercer and a| thorough test will be made. | Work was started here yesterday on! the new gase pipe line fro the Wyo ming Gas company. Five cars of 14- inch pipe arrived yesterday and is being distributed along the line. The| new test in the Messeverde at N iber| dome will be started by the first of the month in an effort to sucure more gas production. -—— | Livestock Mart | Chicago Prices. CHICAGO, March 25. — (United ates Bureau of Markets).—Cattle re- ceipts 1:000; compared with a week ago: Beef steers practically steady; spots a shade lower; she stock and bulls 15 to 25¢ higher; ve«l calves strong; stockers and feeders dull and mostly 25¢ lower; spots off more. Hogs receipts 4,000; active 10 to 25¢ higher than Friday’s average; lights up most. Shippers bought about 1,800; 00d clearance; $10.60 paid for 34 hogs; practical top $10.55; bulk $9.90@10. | pigs strong to 15¢ higher bulk desir-| able 100 to 120 pounders around $9.50;| some stronger weights up to $10.00. Sheep receipts 5,000; today’s receipts Practically all packers direct. Com-| pared with a week ago. Killing classes mostly steady; heavy sheep and best grade shorn lambs showing slight ains; shearing lambs nominally steady. Omaha Quotations. OMAHA, Neb., March 25.—(United ates Bureau of Markets).—Hogs re. ceipts 5,000; holdovers 419; market mostly 10c higher; closing dull with adcance lost. Top $10.00; bulk of sales $9.60@9.90. Cattle receipts 200; compared with week ago: All classes generally) steady. Sheep receipts 700; compared with week ago: Lambs steady to 25c lower; yearlings steady; sheep steady to 25c higher; feeders steady. Denver Prices. DENVER, March 25.—Cattle re- ceipts, 100; market steady; beef steers, $6.50@7.75; cows and heifers, $5@ 6.75; calves, $8@10.50; bulls, $3@4; stockers and feede: Hog receipts, 300; market 15¢ and} 25c lower; top, $10; bulk, $9.60@10. | heep receipts, 1,400; market steady;! yearlings, $12. 14.75; wethers, $10@ @9.60. are visiting in Casper could visit the field today. The well drilled itself in | during the night and is said to have filled the casing with ofl although the hole is not yet in the sand. Many officers, idrectors and stock- per today, having beer summoned holders of the company are in Cas- here for the purpose of holding a spe- cial meeting to determine whethe or not tho company would build pipeline from the field to Casper thi spring. The line would be 30 miles in length. It is believed that it would take an eight inch line to handle the production of the field already devel- |oped and to be developed during the | summer. | A pipeline from the field to Cas- per could follow a natural gravity rade. The Bolton ficld is 5,780 feet | hich ar approximately 750 feet higher than Casper. | Among the visitors In Casper are| Noah Williams of Los Angeles, F. € {Bowman, Ida _ Grove, Iowa, Fred |Franke, Dennison, Iowa, Edward | |Meents, Sioux City, all members of |the board of directors of the company |and William Bielenburg of Schleswig, | Towa; C. R. McCutchean of Ida Grove stockholders. All the visitors were |taken to the field this morning by ‘J. F. Christiansen, local manager. Compared with a today showed losses ranging er net declines were corn, 258 ply larger than at the corresponding time last year, and with finances dis-| turbed bya new low record for Ger-| man exchange, rallies in wheat prices| were mostly of a transient sort. Less| favorable crop reports, however, from parts of Kansas and Oklahoma, to-/| gether with presence of the green bug pest in Texas and elsewhere south-| west Ied to some change of sentiment! as the week drew to a close. Corn and cats went down with wheat. ! Pri ons were affected chiefly by lower quotations on hogs. | Louisville and Nashvilie - be Casver Daily Cribune New York Stocks Oil Furnished s iti by Taylor and Clay 5 c Baldwin Locomotive Baltimore and Ohio Bethlehem Steel -“B’ Canadian Pacific Central Leather Chandler Motors ....: Chesapeake and Ohio Chicago, R. L and Pac - Lance Creek Royaity Lusk Royalty Prera .. Mike Henry Mountain and Gulf . Northwest Chino Copper ....... oO Colorado Fuel and Iron Rea Bank Corn Products . Picardy Crucible Steel Erie ... Famous Players-Lasky - yeneral Asphalt General Electric General Motors Goodrich Co. ...... Great Northern’ pfd Riverton Refg. Royalty & Produ Sunset ... ‘Tom Bell Royalty Western Explorati Wind River Refg. United Peto . Wyo-Kans Illinois Central ... Wyo-Tex . Inspir: Copper Western O10 International Harvester Western Int. Mer Marine pfd International Invincible On .... elly-Springfiela Tire Kennecott Copper Pana ¥ ou Mountain Producers Merrftt 1 +$ 12.25 °$ 12.50 + 1050 ~ 10.75 Glenrock Oil It Creek Pris. Salt Creek Cons Prod” and Refrs. Marine Mutual S. O. Indiana . Cities Service Cs Mexican Petroleum Miami Copper Middle States Oti Midvale Steel. Missouri Pacific. 2.2 New York Central N. ¥., N. H. and Hartford Norfolk and Western Northern Pacific ..... Oklahoma Prod and’ Ret. Pacific Ol ....... Pan American Petrole Pennay}y People’s Gas Second 44s - Pare oll Third 44s .. Ray Con Fourth 4%s Reafling . Victory 4%s Rep. Iron a Royal Dutch, } Sears Roebuck Sinclair Con Oil Southern Pacific Southern Railway Standard Oil of N. : 1. Studebaker Corporation ~ 106% | Elk Basin . 1 Tennessee Copper .. 11% | Lance Creek . 1.90 Texas Co. ....... 43. |Hamilton Dome + 140 Texas and Pacific 31%4|Rock River . 1.50 ‘Tobacco Products . 61% | Salt Creek 1.40 ‘Transcontinental Oil 9% | Big Muddy 1.40 Union Pacific ..... 132% | Mule” Creek 1.35 United Retail Stores 44% U. 8. Ind. Alcohol .. 47% United States Rubber. 60%, | ‘The first woman. mayor in America United States Steel . 94% |was Mrs Ella Wilson, who was chos Utah Copper - 63% |cn to the office in Hunnewell, Kan., ‘Westinghouse 57% |in 1911, Willys Overland | ——— American Zinc, Lead and’ Sin.” 14% Butte and Superior . 26 The famous first tel 2 legraphic_mes- ‘als e 5 Cala, Petroleum 2% | sage, “What hath God wrought?” was Moritana Power Bhattuck Arizona Great Northern Ore . 8% B/ dictated by a woman, Miss Anna Ells- 3514 worth. REACTION ATTENDS TRADING ON "CHANGE, MANY FACTORS CITED NEW YORK, March 25.—Business on the stock exchange during the week fell off moderately from the active and broad movement of the preceding week. With the dimin- |ished dealings came an irregular reaction of prices. Causes for the reversal were presented by the confusion attending bonus legislation in Washington, tighter mone? rates and labor disturbances, of which Call money rates several times rose the impendng coal strike was the fore- fe jis yhatal peeled the greater faa uiry rom erage sources, O- pe asses) |gether with the rawing down of lo- Industrial conditions were more cal reserves by interior banks. Pur- hopeful, especially as affecting the|chases of time funds also were less iron and steel trade. Higher prices | }iberal but commercial paper of the for finished and semi-finished Pro-|best class sold at 4% per cent for ducts kept pace with a pronounced’ short dates. expansion of output. The most encouraging feature of Railroad returns were disappoint-|the financial markets was the un- ing, despite increased car loadings.|abated-demand for new underwrit- ‘The cut in the Northern Pacific divi-|ings. These aggregated considerably dend was accepted as evidence that |over 100,000,000 and in almost every railroad executives deemed it unwise|instance subscriptions exceeded offer- to maintain dividends unless earned. | ings. WISE PROTECTION The careful man or woman uses great care in the selection of a bank when depositing their money, de- ciding upon the safety of the institution. The same considerate care should be used in the selection of a broker to handle your money transac- tions—A strong brokerage house is protection to you. We consider our leased wire service a great benefit and protection to the people.of Casper and to our.cus- tomers. Our quotations from the leading markets are up to the minute and cover all listed and unlisted se- curities—Stocks, Bonds, Grain, Oils, Cotton, Liberty Bonds, Money Exchange and local securities. All télephone_ telegraph and mail orders will re- ceive our prompt and careful attention. CONSERVATIVE—PROTECTIVE TAYLOR & CLAY, Lune. Oil Exchange Bldg. Casper, Wyo. Phones 203—204 SPECIALTIES IN “WMRKET FAVOR Woolworth Stock Jumps 12 Points in Irregular Ses- sion Today. &n advance of I2 points, the rise be- ing accorapanied by reports of a pros- Pective stock dividend. Kresge, Cocoa Cola, Otis Steel and Tidewater Oil ay- eraged two points gain The only railway stock to show more than ordinary animation and strength was Missouri, Kansas and Texas preferred. Ann Arbor common and preferred forfeited more of their recent gains. The action of steel shares was disappointing in view of recent favorable developmenta. Mo- tors, sugars and chemicals also eased with American Ice, American Tele phone and Union Bag. The closing was irrgular. Sale approximated 450- 000 shares. NEW YORK, March 25.—Steels, equipmen:s, motors and their subsi- diaries, together with several miscel- laneous issues helped to lift the aver-' age of prices at the dull opening of to- day’s stock market. United States Steel preferred, Lackawanna Steel, Studebaker and Fisher Body were higher by fractions to one point. Kel- sey Wheel and Marlin Rockwell gained 3 points each. Sears Roebuck, Utah Copper, Cocoa Cola and Manhattan Shirt were moderately higher. Amer- ican Ice, Ann Arbor preferred and Cuba Cane preferred lost one point each and oils showed further heavi- ness. Foreign Ex Steady. NEW YORK, March 25. — Great Britain domtand 4.38%; cables 4.3)8%; 60 days bills on banks 4.35%; France demand, 9.04; cables 9.04%; Italy, de- mand, 5.12; cables 5.12 Belgiaum demand 8.4344; cables 8.44; Germany demand 30%; tables 31; Holland de- mand 37.84; cables 37.87; Norway de- mand, 17.85; Sweden demand 26.12; Denmark demand 21. 16; Switzerland demand 19.44; Spain demand 15.57; Greece demand 4.28; Poland demand 02%; Czecho Slovakia demand 1.75; Argentine demand 35.50; mand 13, 70; Montreal 97%. Silver. NEW YORK, March 25.—Foreign bar silver, 64%c; Mexican dollars, 49%e. Bank Reserves Down. NEW YORK, March 26.—The ac- tual condition of the clearing house banks and trust companies for the week shows that they hold $47,571,320 in excess of lelag requirements. This Is a decrease of $1,589,000 from last week, ——__——— Transco Cigars—Union Made. Brazil de- | M. P. ASKS BOND PERMIT. STANDARD BONDS. Am. T. - WASHINGTON, March 25—The| Armour ‘SCar te Missouri Pacific railway sought inter-| Belgian, 7% state commerce commission | Belgian, 65 sion today to Issue $19,095,500 in six| Brazil, per cent gold bonds. A contract has|C¥ already been made for the sale of $18,000,000 of the total issue, the pub- leation said, at a price of 94% sub- CHICAGO, March 25—After hang- ing in a balance almost the entire week with demand just about equal to the supply and prices holding steady, the butter market broke toward the close of the week ending March 25, due to an accumu- lation especially of fancy butter at the eastern markets. About the middle of the week New York began to feel the weight of sup- plies of fancy butter in excess of a ready demand o2d to this was added some of Philadephia’s surplus. The Boston market at the same time ap- ject to the commission's approval. ‘The company proposed to use funds received fro mthe sale to pay off in- debtedness and to reimburse its treasury for expenditures on better- menta, —— 106 10645 peared fairly firm on both fresh an@ 107% 108% storage. At Chicago stocks of prac-| Jewel.y and watcn repairing by ex- 101 Etta tiadly all grades were short and bare. Pert workmen. All work guaranteed 102 10244 ly sufficient to supply the regular) ©®sper Jewelry Mfg. Co, O.-S: Bldg. 117-1178 trade demands. 2-5-tt Elec 106% 106: Ona fn Sealuee lath the Western Union, 6%: 107 107% teresting i week's market was the relatively | templates tapping the Lance Creek good demand for the lower scores.| supply and the extension of the Doug-| Women are said to be more adapt The shortage of centralized ‘utter mentioned the provious week wag re- Heved to some extent. | New York reports the movement of considerable quantities of Austra Man and New Zealand butter, part of which was sold to Canadian me: chants at prices said to be round 35% and 36% cents. pare Bae, GUENTHER GETS PERMIT FOR DOUGLAS GAS LINE CHEYENNE, Wyo., March 25. Charles A. Guenther of Douglas, Fri day obtained from the Wyoming Pub: lic Service commission a certificate of comvenience and necessity author izing the construction of a natural gas line to the town of Douglas. Guenther’s application did not relate from what field he proposed to pro- cure gaa, but it is said his plan con- Force & Co. Loan Money On Oil, Mining, Indus- trial and Railway Stocks and Bonds. (Mail This Coupon to Us.) FORCE & COMPANY, Stocks and Bonds, 315 Tabor Building, DENVER, COLO. I own the following stocks: and would like to borrow $. +---on them for . Name City and State las line eventually to Wheatland Chugwater and Cheyenne. |FORCED OU men. Notice to Prospective Builders - We have on display in our show win- dow a complete mini ature BATH OUTFIT Made of Vitreous China. at learning foreign languages than are M. D. Barnett Outfitting Co. 120 E. Second St. Don’t fail to see this display and then order your bathroom fixtures of the same ware. It costs hut very little more. Schank Plumbing & Heating Co. 359 East Second Street Phone 711 LET’S GO TO EVANSVILLE TOWNSITE AND PICK OUT THAT LOT NOW SOME GOOD LOCATIONS ARE STILL AVAILABLE FOR RESIDENCE OR : BUSINESS PURPOSES. + EMMA For Your Personal Benefit We Will Operate a BE SURE TO GO ‘And Up, Which Includes Graded Streets. Next Few Days. “A LOOK WILL CONVINCE YOU” SOLE AGENTS Room 8, Zuttermeister Building FREE BUS TO THE TOWNSITE Leaving the Company’s Office (Opposite Postoffice) at 10 A. M., 1:30 and 3 P. M. LARGE, LEVEL LOTS FOR $200 Terms—10 Per Cent Cash and 5 Per Cent Per Month. Buy Now—When Refinery Starts Construction Lots Will Jump in Price The Latest Information Available Indicates Refinery Will Start Construction in ¢” - SALESMEN WILL BE ON THE GROUND ALL DAY Guaranteed Investment Co. Telephone 410 A IDs