Casper Daily Tribune Newspaper, March 28, 1922, Page 6

= °° = ope | Oe ot Mardasereoea BER BURA RESH AEMAMBASRESE Sh ae eo af & SRASRORPOROSROURa CROP BSR na Meh AR = ore -Resuee PAGE SIX TOOLS LIFTED BY GAS PRESSURE ORILING IN OF PURFOY STARTS === WORTHAM, Texas, March 28.—Tools were lifted by gas Pressure in the Purfoy well of Campbell’s Mexia pool No. 1, |7 one mile east of here, when drilling operations were resumed | The well was standardized some time| on top of the sand. ago and was bailed out preparatory to drilling out the plug. George W. Campbell and other officials of the company are on the scene. jam going to drill slow. The Purfoy wel set casing at a| Certain of tringing in an off well on of 2,962 feet after hitting a this lease as I was when I drilled in shot up into the derrick eighty feet.| my stockholders 17 It is the nearest well to Wortham ant|inan one year’s time. is due for an early completion. |the plug out in the Purfoy, I expect! In an interview with Mr. Campbell|to have a gas showing and if I do I| Colorado Fuel today he said, “I believe that I am/| shall immediately shut down and erect going to find the mother pool of the storage. Wortham field on my Purfoy lease.”/ “I am going to drill thin well tn 700 per cent in less| When I drill! Chicago. R. I, Allied Chemical & Dye I'm just as) Bal 22% Corn Products Crucible Steel . Erie ... On account of the experience that oth-|slowly and with precantion, for I be- er wells have had in drilling in this| eve in so doing it {s to th eadvantage field, Mr. Campbell stated that he was|of iny stockholders, going to use every possible precaution | stated; there has been too much fast in the drifting of the Purfoy; that he drilling fh the field, one or two wells|Great northern, pfd, thought there had been too much fast| going through the sand into salt wa-|Jilinois Central .. i - | Inspiration Coppe: Grilling in this field. He stated, “ STRIKE ENCOURAGES NEW TESTS Oi] operators of the northwest are evidencing new interest im northern Montana prospects as a result of the strike made by the Gordon Campbell-Kevin Syndicate on the Rocky Ridge structure of the Sweetgrass arch, 34 miles south of the Ca- nadian line. It has been established definitely that oil is standing to a great depth in the hole and bailing failed to ARE UNGTERDY Trading Opens at Lower Quo- tations, Rallies, Then Weakens. CHICAGO, March 28.—Downturns tm-the price of wheat here resulted in the early trading today from relative weakness shown by values at Liver- pool. Selting here was also induced by esttmates that the Argentine ex: portable surplus ts 10,000,000 bushels in excess of figmres heretofore gener- ally accepted. allies due to buy- ing on the part of pit traders failed to last. The opening was varied from % to 1%o lower, with May $1.31%@ section of the Sweetgrass arch and hole is down 380 feet. Bunkhouses are being erected and casing has been ordered. Sixty-nine miles south of the new Kevin well, in the same range, the ‘Western Pex company is preparing to resume work at Crown Butte. Two Wyoming companies, it is reported, have signed contracts to drill on the Square Butte struoture, five miles distant, the territory lying in the Big Mudéy structure of Montana. - Stil another field favorably affect- ed is the Willow Creek structure near Choteau, Mont, where the Chotean OU and Gas company will resume work on a test well started last year. South of Chinook, Mont, drilling will be resumed on the Bowes well 1.33% and July $1.18@1.18%, was fol-|at 500 fect. Work was stopped on lowed by a recovery in cases to | this test because of financial troubles. the same as yesterday's finish and|A rig will also be moved to the East then by fresh declines. Butte structure in the same vicinity. quitesaiast17, ontavorable €rop :¢-| Officials of the Beaverhead-Alberta ports from Oylahoma amd Kansas, to-/ Oil and Gas company report good oil gether with cold weather in the north-| showings in their well No. 2 near Dil- west and west, had a bullish effect|lon, where the drill has penetrated 120 but the market secn weakened agnin | feet of Bentonite formation. Well No. The close was unsettled, Sc met low |1 reached an ofl sand through 193 er to %e advence, with May $1.3244 | feet of the same formation. Well No. 10 $L32%, + »1 stly $1.19% to $1.19% | 2 will be cased before deeper drilling. In Powder River county, Montana, the Anna May company is preparing to resume work on the Coalwood structure, section 20-2-50 where ex- cellent ofl indications were developed before suspension of operations last year. Corn declined with wheat. After opening % to Sic lower, May 58% @ 58%, the market displayed bat little power to rally. Better ecpo-t demand helper later to strengthen tie market somewhat but only in a transient manner. Tho close was unsettled, %e to 4@%C net lower, May 58% to 58%. Wet weather delays to seeding tend- ed to lift the price of oats. Starting at %%c off too advance, quotations later scored sfight general gains. Higher quotations on ‘hogs gave an upward tilt to the provision mar- ket. the Siemense Elektrische Letricb have been severely hit by the depre- ciation of foreign exchange, especially that on Swiss moneys, according to the cempany's report. Teh debt on this account amounts Closing Quotations. to 183,000,000 marks. Part of this can Wheat— Open. High. Low. Close.|he recoveral from the reserve fund, May — ~ L3l% 1.34% 1.21% 1.32%] but there remains an uncovered loss July 118 1.20% 117% 1.19%} of more than 162,000,000 marks, Corn — eet ora alia May -- 58% 59% 58% 58%, meso SS BR BE AS aSSUMANGE OF NEN 37 37% 36% .6H aie a ome ce | REFINERY ERECTION 18.75 - 11.10 11.15 11.10 11.10 May - - 10.35 20.87 10.85 10.87 July . . 10.27 Unfavorable weather conditions are held reaponsible by the backers of the Butter and Eggs. new Wyoming Refining company for CHICAGO, March 28.—Batter high-| the fact that construction work is be firsts 34%4@|ing temporarily delayed at the new er; creamery extras 28c; S7eseconds 32@34c; standards 37%4c. Eggs higher; receipts 27,125 cases; firsts 23@23%c; ordinary firsts 21@ 21%c; miscellaneous 22@23c; storage 26c; storage refinery site east of Casper. A new department was insittuted in the of- fices of the company this week when draftsmen and engineers were put to work making the original plans and specifications for the equipment re- quired at the new plant. Officers of the company are unable to say when actual work on breaking ground will be undertaken, but inti- mate that it willebe in:the immedinte future. “All we can say,”-sald one of the of- ficers of the company “1s that a re finery will be built by the Wyoming Refining companq and that initial construction will start soon, despite the prediction of Denver publications an athe belief of local people that no such plant will be built” saab alata od nerd Se German Marks Reach New Low WEW YORK, March 28—German exchange broke all previous low rec- cords here Monday, -marks falling to 29% cents per 100 marks. The pre- vious minimum quotation for this co- mittance was 29% cents per 100, made iast week. Selling of marks today wes again largely for foreign account. packed extras firsts 25% MOWEST OPENS PAIR OF WELLS Over 1,300 barrels of new produc- tion was added to the Salt Creek field during the past week in two weels completed by the Midwest Refining <ompary operating on leases for the "Wyoming Associated O1 company. { Well No. 1 A on the Northeast quarter of secton 1-39.79 was complet- ed at a depth of 1877 feet and the pro- duction for the first 2¢ hours wes re- ported at 415 barrels. Well No. 1A on the southwest quar- ter of section 23-40-79 was cmmpleted nt a depth cf 1,476 feet on section 33-40-19. ‘The tested production was packed 39% berrels for the first 24 hours. ———— for as I have|General Motors |Int. Mer Marine lower the level. It is believed that the ‘5 Famous Pluyers-Lasky |General Asphalt jeneral Electric % Goodrich Co. ... 38% 1% PI International Paper 114% Mexican Petroleum 118% Miami Copper .. 2 Middle States O#1 Midvale Steel . Missouri Pacific . |Pacific Of ... Pan American Pennsylvania Reading ..... Rep. Iron and Steei Royal Dutch, N. Y, Studebaker Tennesseo Tobacco Products Transcontinental Ot Union Pacific ....... 'United Retail Stores U. 8. Ind. Alcohol .. United States Rubber . United States Steel . Utah Copper ....... Westinghouse ‘Electric | Willys Overland ...... American Zinc, Lead and 8m Butte and Superior Cala. Petroieum Montana Power . Shattuck Arizona . New York Stocks | Securities eewermer 154 10% | Sunset ..... 27% | Salt Creek Con. it | Merritt 3| Was estimated that 9,000 persons were}mand 9.01; cables 9.01%. @be Casver Daily Cridune | PRICES HIGHER Specialties Make Gains in alties Ma’ = Market. 334% | NEW YORK, March 1.22" | stocks today was moderate, but prices -00% |again moved forward on buying of a ve industrials and “S$ | Sales 650,000 shares. 39 Copper, leather, gas and express 2is0 [company staves figured in the broad -18 jer Geaiings of the final hour. rails r4 also imjsoving. The close was strong. pes raley | ee O1y 74 ary tendencies continued to rule at Mike Henry - 10244 03% | the opening of today’s stock market. = 90 Mountain and groups were neglected, while specu- lative issues denoted further selling "03 : Pressure. Gains extending from frac- tions to ome point in Pullman, Vir- -l1_ | ginia-Caroltim Chemical, Internation-| 5.75] al Harvester, Sears Roebuck and Cen- | 05 | tral Leather were balanced by reces- 93° | sions of the mime extent in. domestic “92 | 8nd foreign oils, junior transportation | ‘94 | and utilities, notably Market Street Railway preferred. 1 Steels were steady oa the proposed -T4 | advance of wire p-ices announced by 38 | independent producers. “ Dealings fell away almost ‘steadily NEW YORE OCCRB CLOSING | suring’ the: foreioon but the'-market Mountain Producers .$ 12.25 $ 12.37| strengthened on the support given to Marine ....... ae 1022 | cautpments, oils and foot specialties. 4 10.25] “ima Locomotive common and pre- 1.00 1.06] terred made 4 point gains, evidently Royalty & Prod Prod. ana Refr’ Tom Beit Western New ¥ 5 S| Sait te 14.12 14.37]0n short covering. American Loco- gs Ais a esp $67 | Prod. and Refrs. si 5.62] motive Eatéwin Locomotive and Pull- Norfolk and Western . eee man rose 1 to 1% points. Mexican Northern Pacific .... “? Petroleum and ifornia Petro! Oklahoma Prod. and Ref, 1¥7.00 oo Dears Roebuck extended its early rise. -¥ 93.02 | Jewel Tea common and. preferred, 1 97.90] Comm Products and Industrial Alcohol 3.29 | rose 1 to 2% points on buying by 8.10 | Pools. Allied Chemical was heavy in connection with the dividend action to poate be taken by the directors later in the 709.0} aay. Call money opened at 4% per cent. Bull operators had the market well in hand and succeeded in advancing the st much further in the early afternoon. Shares like the tobaccos, which had been conspicuous, laggards 90} in recent upward movements, were $4) taken in hand and lifted one to six fo) points. A brisk inquiry also prevail- Crude Market - ‘| ed for the equipments, ofis and steels. 0] Low priced railroads. were absorbed 40] at steadily rising figures and the pa- 1.36} cifics also made good progress up- ward. LAWRENCE, Mass., March 28 — 5 Forei; ‘The strike in the cotton mills here cn Steady. NEW YORK, March 28.—Great Brit- 51m, | besun yesterday gained strength to-Jain demand 4.36%; cables 4.36%; 60 day. At the seven mills affected, it} day bills on banks 4.33%. France de- Italy de- Great Northern Ore 4 | out. mand 5,07; cables 5.07%, Belgium do- mand 8.37%; cables 8.38; Germany de- mand .304%; cables .30%. Holland de- ©) mand 37.69; cables 37.72. Norway de- mand 17.70. Sweden demand 26.05. Denmark demand 20.98. Switzerland cemand 19.40. Spain demand 15.53. Greece demand 4.33. Poland demand (2%. Czecho-S:uvakia demand 1 7%, Argentine demand 2600. Brazil do- mand 13.60. Montreal-97 1-16. Livestock Mart Prices. CHICAGO, March 28—{U. 8. Bu- reau of Markets)—Cattle receipts, 8,- 000; beef steers and she stock steady to strong; one prime load 1,280 pound steers to be fitted for show purposes, $9.25; bulls steady to weak; calves ‘weak to lower; stockers and feeders steady; packers bidding $7.50@8 most- ly on veal calves; few lots of choice medium weight vealers at $8.25. Hog receipts, 20,000; opened Se to 10c higher; mostly steady to 6c low- er than yesterday's average; top, $10.50 early; very few over $10.40; bulk, $9.75@10.40; pigs steady to strng; bulk desirable 100 to 130 pound- ers, $9.50@10. Sheep receipts, 13,000; killing class- es steady to 25c higher; top wooléd lambs, $16.10; winter shorn lambs, $14; fresh shorn lambs mostly $13@ 13.50; Texas yearlings and twos, $11.76; shorn Texas wethers, $9.7 good 115-pound shorn wethers, $10; few 103-pound wooled ewes, $10. Omaha Quotations. OMAHA, Nebd., March 28.—(United States Bureau of Markets.)— Hog re- éetpts, 13,000; fairly active, opened 5e to 10c lower; closing steady; bulk 180 to 210 pound butchers $9.60@9.70; bulk 215 and 325-pound butchers, $9.35@9.60; packing grades $8@9. Cattle receipts, 7,000; beef steers, steady to strong; she stock and other classes mostly steady. Sheep receipts 10,000; killing elasses strong to 25c higher; early sales; wool- ed lambs, $14.55@15.25 bid; clipped lambs $12.75@13.30; ewes, top ~$9.75; feeders steady; five cars feeding 1 €l-pound average, $13.25. Denver Prices. DENVER, Colo., March 28—Cattle receipts 1,300; market steady; beef steers $6.50@7.50; cows and heifers $5.00@7.50; calves $8.00@10.50; tnilis $2.50@4.00; stockers and feeders $6.00 @7.00. Hogs receipts 2,500; market steady; top $9.90; bulk $9.50@9.75. Sheep receipts 4,300; market 10@15c higher; yearlings $12.50@13.00; lambs $14.00@14.95; wethers $10.00@10.50; ewes $9.25@ spring lambs blank. ‘AVIATOR HELD _ AS MURDERER | LONDON, March 28.—{By The As- sociated Press)—A coroner’s jury, which held an inquest over the body of Gertrude Yates, otherwise Qiive Young, whose body was found some time ago in the bathroom of her flat in Kensington, returned a ver- dict of wilful murder against Maj. | Ronald True, an English aviator, who STANDARD BONDS. Money. Am. T, and T., 6s, 1922. 100% 100! NEW YORK, March 28.—CaNl mon- Relsian, 7348 ey easier. High 4%; low 4 . Ruling Belgian, 6s 103% 103% | race 4%. Closing bid 4; offered at 4%; Brazil, 89 . 104% 104% last Ioan 4%. Call loans against ac- Noi 109 109% | ceptances 3%. Time loans, 60 days Chile, &, 1946 103 103% 14% @%. 90 days 4%4@4%. Bix months Resteek, 8s 111% 111%} 4%4@4%. Prime mercantile pzptr upont, ‘7s 104° 108% 142 @ French, 74s 102% 193 | 44 @%- Goodyear, 8». 183i a3” 30s year, 83, Japanese, 414 sso | NEW. ‘ BR Coppas Rf 4s 14% 74% | earier; electrotytic spgt and nearby Kelly Springft 106 106% 112%; later 12% @13. Norway, .8s . 111 111% {Tin steady. spot and futures 19.12. Queenstand, 7s 107% 108 iron steady; prices unchanged. pt dow pac teed eee dex dae Lead steady; spot 4.70@4.80. ern Electric 7s Western Union, 6448 .. 107% 1084} Zino qulet; Hast; St Louis deltvery eee eneens spot 4. ‘We cannot make all the clothes so} Antimony spot 4.25. we make the best. Reliable Tailors, —— sulte 4, Zuttermelster building. | Meet mo at the Smoke House. Pane eo ERS —— Subscribe for The Tribune. —— Additional Oil News Page 9 MEXUA EXTENSION DRILLING FAST INTEREST IN TEST 1 INGREASING MEXIA, Texas, March 28.—Everything is progressing ad- mirably down at the Mexia Extension Syndicate lease. In fact, Charley Anderson, driller and trustee, has had to put a fence around the derrick to keep geologists, scouts from the big oil companies, and visitors out of his way. This does not means that Charley has any secrets to keep ,or’is unhospita- ble, but that he is a very busy man,)encountered—one at 600 feet, enother TREND OF STOCK and intends losing no time drilling in| at 1,000 fect and still another at be- his well. tween 2,900 and 3,000. Several times ‘The Mexia Extension Syndicate is| while drilling drilling on a 400-acre lease in the/ bubbles appeered in the elush pit and southeastern extension to the Mexia| when field. This section is creating much|in them. This is practically the same Linterest these days, especially with geologists and scouts, then visitors; sushers and he is very enthusiastic are crowding to the spot of interest|over the prospects of opening tho just as they always do. Indications| Same kind of @ well. @re good, and people seem unanimous in their belfef that the Mexia Exten-| sion Syndicate will extend the Mexia field a number of miles to the south and east. Charley Anderson has a marvelous record as a driller, which runs some thing like this: Twenty-three produc- ing wells out of 24 drilled, 700 per cent dividends paid stockholders. For the Cammies company he drilled six fine wells. It seems that he cannot BO wrong. I¢ the Mexia Extension Syndicate leage has of under it, Charley Ander- son will get it, and get it quick, so| everybody says, and they also sus-/ pect that oll is there. : Mr. Campbell also stated as soon as the Purfoy well is complete he ex-| pects to start drilling in his Quick| No. 1 on 1,000 acres in the Kosso- Bremond istrict. This well is down 3,150 feet, and the casing has already lived some time in the United States. | ars been set. While drilling this weil sev-} City and State .. howings ofolland gua were; : | FENCED TE E: DERRICK I strung a barb wire fence around the derrick yesterday. Not because there is any secret about what we are doing with our well No. 1 on 400 acres in the southeast extension of the Mexia field, but— I’ve had so many visitors this week that the boys on the der- rick platform have been so busy answering questions that they couldn’t “make hole” as fast as they should. ; Geologists and scouts, lease hounds and rock hounds have beép haunting the southeast extension for several days past. It seems as if every oil operator in the Mid-Continent field expects me to develop a new and sensational pool of oil in the southeast extension. So I fenced the derrick and I’m going to let the world look on from the side lines while I complete what to my mind looks like a well that may yield gusher production. LOOKS LIKE A BIG WELL I am drilling around 2,400 feet today. Another thousand feet at most will tell the story. i Formation after formation and strata after strata that I have encoun- tered in drilling our well No. 1 on 490 acres in the southeast extension con- vince me that I am on the right track. If I were drilling in the heart of the Mexia pool I would not expect to find any more uniform geology than I have encountered here. That the derrick of our No. 1 well on 400 acres in the southeast extension stands squarely above a vast reservoir of oil is my honest belief. If our drill pierces the Woodbine sand in the next thousand feet I am confident our lease and well will sell quickly for hundreds of thousands of dollars. s My helpers and myself here on the derrick platform are firmly convinced that we are going to encounter gusher production in a few hundred feet now. As announced in this space last week the drilling crew has requested that they be permitted to take a month’s wages in the Syndicate’s units. What finer tribute could be made an oil development project than this un- qualified endorsement by the well’s drilling crew? They realize that a gusher on 400 acres with our low capitalization of $75,000 and our low par value of 10 cents per unit should make them in- dependently rich on their investment of one month’s wages. How about you? A few hundred feet more will tell the tale. _ L expect our well No. 1 on 400 acres in the southeast extension will be com- pleted within the next thousand feet. I predict that this well will come in with a flush production of from 2,500 to 4,000 barrels. Nothing less will satisfy me. When this comes to pass we will sell, and sell quickly, for then the big companies will be eager to take over our lease and well—anxious to pay us a fancy price for them. I will complete the Mexia Extension well No. 1 with all the speed con- sistent with careful drilling. When well No. 1 is completed a gusher I pledge Dr. Hoover and myself to the policy of an immediate sale of the lcase and well and an immediate distribution of the proceeds and profits among our shareholders. Dr. Hoover and myself do not intend to build up a permanent oil company. We are enlisting the support of American investors on a quick action policy. We have pledged ourselves to com- plete well No. 1 with all possible haste, sell the lease and well at a handsome profit and split a big melon among our unit holders. We are not planning an enterprise as @ permanent competitor of the Standard Oil Company but rather a quick action, big profit deal in which investors can hazard a little to win a ot. It’s not a cinch, but it is the cleanest speculation in the state of Texas to- day—a “bang up” right now strike for fabulous fortune. UNITS MUST ADVANCE SOON Mexia Extension Syndicate units must advance soon. Fully paid, non-assessable, permanent, transferable, profit- sharing interests in 400 acres and a drilling well, capitalized at $75,000, can’t linger long at a dime. When well No. 1 is completed a gusher any remaining unsold shares in this Syndicate will be withdrawn from the market, I am drilling around 2,400 feet — our financing will soon be over—this may be the last call. Readers of The Tribune may not have another opportunity to join in this project. I believe it is just a matter of days or weeks now until well No. 1 comes in. Then it will be too late for you to Participate. Why not enroll today? - Don’t wait for the mails. Wire your reservation. Mail your check. Very truly yours, C. L. Anderson. Mexia Extension Syndicate You need the wires now. eecescecscoecs CDT-3-28.22 Mexia Extension Syndicate, Dan Waggoner Bldg., Fort Worth, Texas. Gentlemen: Enclosed please find $. $75,000 Capital War Value 100. 9.0 2G ee cist iis ears aitin eu aoe x as full payment for_____________; units in your Units Fully Paid and Syndicate at. Ten Cents (i0c) par Value. i Non-Assessable Dr. M. W. Hoover Charley Anderson Trustees Dan Waggoner Bldg. Fort Worth, Texas