Casper Daily Tribune Newspaper, July 6, 1922, Page 8

BPVARKET GOSSIP AND FIELD NEWS (TENSIVE DRILL b contend with but that seems e hole will Mid-Northern wells front NG IN MONTANA After having trouble for over a year the Ohio now has its} American ole straightened in the Big Wall structure in Montana and! American making progress from 2,400 feet. This has been a jinx — pr the Ohio with cave-ins, parted casing and a crooked hole | American now to have been overcome.’ be carried to the sands which are expected at} | from 3,000 to |Oul company of Roundup is beavily | Baldwin Locomotive . | interested in that field, having leases! paltimore and Ohio over 4,000 acres to the Ohio on &i canadian Pacific | royalty basis. !Central Leather . 300 feet. The Victory! The bringing tn of the Frantz and the second New York Stocks Allied Chemical & Dye Allis Chalmers HE American Beet $,Jar—- American Can ....... American Car & Foundry ..... American Hide und Leather pid. American International Corp . American Locomotive —---— Smelting & Ref, Sugar Seat Sumatra Tobacco T. and T. Tobacco Woolen Copper jerican rican American A=aconda tehison Alt, Gulf and West Indies... Chandler Motors Chesapeake and Ohio . be Casper Daily Cribunce Oil Securities Furnished by Taylor and Clay. }sand in Cat Creek has assumed an / Chicago, Mil and St. Paul 37% | Preston |intensive drilling campaign tn that/Chicago, R. I and Pac. . 44% | Mike Henry dane field Soren anal he oe 29% Mountain and Gulf.. 4 The 22 wells locatai on sections 11/ G07 “Products. = * 104% \eereer 3 and 14 will probably be deepened to|Grucible Steel Ta |Quewest : 3 the second sand and in some of the! Erie = -- 16% Five ‘Tribes Rains in Corn Belt Tends to| wens the drilling has already started.|Famous Players Lasky .....-- 82% Picardy x 4 Ease Market for Corn and — | Genawat Ambar . ok | Riv Rots. | 5 ert : : |G sl ~ 167% Producers Oats Interest Canters on Test. General Motors . 3 nah apres More than usual interest is being! Goodrich Go. .. — 39 |Tom Bell Royalty .... shown tn the test being drilled near|Great hern pta. .. - 81. |-Western Hxpiora “270 CHICA Cartersville, 20 miles west of Miles| Illinois Central .... + 108%} wind River Refs. 1 ent a dec ity, Mont. The drill is down 1,750| Inspiration Copper toss q:| United Pete . 03 04 ring the early transactio Houses | feet and production is looked for at|]" garmin ap threes 100% B i wyo-Kans 20 1.00 rith eastern connec s were rather/any time Shieuter Bros., who are|inrs, me 7 Pe ncaa ~ qa, WWyo-Tex ......-.---- 00% 01 nd crop develo; Sacareiamatyacoe | cog . %/-Western Oi] Fields 60 65 heavy sellers and crop developments |rilling the well are confident that/invincible Oil > Qs 7 | Western a is re favorable a ce. Reports as| the will be encountered not Kelly Springfield Tire z a iy nas a oteg! pase 18 to lessenex rust dam-|¢o exceed 2,500 feet Wesinecott COMBEE Cc 2it 35i/¥ Ol ....- es : lage had a beart sees Louisville and Nashville - 136%) NEW yore prance varied Will Test Gittefte Country. arise? teks rces : ts Monntats Prosucers /:9: 1658 fith Septem Arrangements re now being made | Mid@le States Oli - 13% Glenrock Oli” 3 ong |for a test four miles north of Gillette| Midvale Steel... > 3434 | Salt Creek Pras seal 2 by the Tom Dun Oil company. The) Missouri octet . ae Salt Laeeey eres = tS . extend. > bey Prod. an Te. Around $1 structure covers a Irge area, « . and Hartford 31% | Coaden cay ing to within one mile of the city | 3 Norfolk and Western 110” | yrutuat Bullish |mits and has been passed upon f8-|Northern Pacific ‘sare W7 Mutual ‘ together | Worably by several geologists. 4 rig/Oxishoma Prod. and Ref. 3%'S. O, Indiana rease in|iS belng moved from the Osage field/ Pacific Oil ... 58% Cities Service Com to|@ . th onse soon as possible w 4 be spudded in as Gas was found some the tei time ago near there in a water well Pace Yr abtia ure as hich is considered as good — my Cenastientea Coppec nat the hole will be product eae Upton Test Closes Down. Drilling has been resumed on a test being drilled on the Nefsy dome | s Pan American Petroleum Pennsylvania was Rep. Iron and 8 Royal Dutch, N. Sears Roebuck Sinclair Con. Oil Southern Pacif 58% ‘ = six miles west of Upton after being|Southern Rail Subsequen closed down for some time. The hole | Standard Oil . 187% | firmer. ; is reported as being 2,000 feet deep. Stutebaker Gerporation a the trade a r n Escenas Towa | Tennessee Copper The Nevin Oil poster y, an oO rere i Gn : 47% corporation, has also resumed drilling | roxas and Pacific. 20% | three miles south of that town, having |-ponacco Products 79 repaired its boiler wh’sh exploded| ‘Transcontinental Oi! 16% some time ago. Union Pacific 144% ree ate | United Retail Stores . Tey ion Expected. |U. S. Ind Alcohol ..... 67 | vise "em United States Rubbes . 62% Reports are to the effect that th®/trnited States Steel 100° | pada, Frantz corporation well on the Green| Utah Copper ..... 6a | Closing Quotations. lease in Cat Cree! (* orogressing rap-| Westinghouse Electric 59% | a 4 ot «h. Low. Close./idly and a completion 1s expected dur-) Willya Overland teres 8% WHEAT . ing the week. This well is 440 fect! American Zinc, Lead and Sm 17 3 5 st o. 12 hich was recently Butte and Superior ., 28 Jul 1 1.15% 1.13% 1.14% | we « N 12, whi ‘ " 5 ala Petroleum: = Jrecihs 7 second sand and is Sept aint 1 1.13% 1.14%] completed in the second san: Montana Power Dec %® % 1.16%4 1.17% | flowing at the rate of 5,000 barrels per Shattuck Arizona CORN day. |Great Northern Ore . . 62% 62% —— ‘ Send Bs RS 67% 66% INCORPORATIONS CHARTERED. | 66% 66% CHEYENNE, Wyo., July 6.—The utes Investment company, capital} 36% 36% stock 0,000, has been incorporated) Le 3 8% B. Gates, former Wyo-| ear are N. F. Gates y E. Lutz. The corporation's home office | ill be at Worland, Wyo. | Other concerns securing charters) w! 6.—Butter lower: ; firsts 32@ standards A Jc packed extras ed firsts 22%c Potatoes. CHICAGO, Jy 6 stronger: receipts 110 t United S shipments 3.65; Alabama | Spaulding Rose sz $2.10 ewt Texas and Oklahoma sacked cobblers $2.25@2.50 cwt; eastern shore Vir. ginia stave barrels Cobblers, $4.65@ » Norfotk forth Carolina | cars ed section, ba ave rels Cobblers $3 _ Livestock Mart Mt Well No. 36A, SEX% CHICAGO, July 6,—Cattle—Receipts | Wvo.-Assoc. Woodroof: 11,000; market active; top matured|2,081 feet; initial production, steers $10.25; top yearli $10.20; | barrels bulk beef steers $8.70@9.85; she stock and stockers generally steady to strong; veal calves 25c| production, £10 barrels. higher; bulk beef. cows and heifers] Well No. 244, SE% section 13-40-79, | 0; canners and cutters mostly|Mt. & Gulf Motor. depth, 2,240 feet; bologna bulls $4.65@4.90; | initial production, 73 barrels. @9; tew choice: bulk vez handyw ers $9.25@9.75 | and bette Hogs—Receipts 27,000; opened 10c hij er on light butchers, later steady to strong with Wednesday's | average; early top $11, few loads; bulk | good butchers $10.45@10.90; jigs about ‘ing sows mostly $9@9.25 hogs $10.45@10.65: med @10. light $10.80@10.90 ight light $10.25@10.80; packing sows $8.85@9 packing sows, $8.50@9; pigs $9.25@ $13.85 to ght to pac! ; light serted cull western here;| few 7 extreme heav sheep strong: best bandyweight fat| below ; choice 58-pound Idaho feed. mbs late Wednesday $12.60 | OMAHA, N July 6—cunttea | B arkets.)}—Hogs— steady to 10c high y on medium and light < heavy and mized pack. 39@9 bulk good hogs -40; top $10.50 Cattle—Receipts 5,500; beef steers mostly strong to 15c higher; top $10; heavy yearlings $9.75; she stock 10c to 2c higher; b strong; other classes States her; fro ton. treasurer and later organ-} the Gates Oi! company. Named tes as directors: for the first mthe state of Wyoming follows. Glendo Ranch company of Torring- capital stock $50,000, directors lvin J. and Theodore H. Elquist and/ ohn W. Agnew. Wyoming Colorado Coal company of Bureau of Mines Engineers Is- ON ELDORADO sue Report on Arkansas Oil and Gas Field. The result’ of a steady production WILOGAT NEAR ASI *| Cheyenne, rectors a nd J ubli apital association crease of its capital stock from $5,-| 000,000 to $10,000,000. Wel bulls | Midwest-Cas! that Upai capital stock $250,000, di-|conditions made by engineers of the Mentzer, M. F. Kinney| United States Bureau of Mines in the K. Walker. El Dorado, Ark., oll and gas field are ette County Fair association,|siven in a bulletin by H. V. Bell, stock $20,000, directors M. B,|petroleum engineer, and J. B. Kerr, Budd, E. W. McNinch, H.|assistant petroleum technologist, and I, P. Fuller. e Lumber & Coal company of Nebraska, capital stock $300,000. Loan| filed certification of in-| Midwest Completions. 1 No. CHEYENN cial to The Tribune.}—Another attack|qrst commercial production of oll in on Cheyenne's cherished city park bar-| the State of Arkansas. berry hedge has been launched, this) produced since about 1905 in the Fort time by the Laramie County bureau, which has petitioned the city commissioners to destroy the hedge on the ground that it harbors black rust. | Recently the United ment of agriculture requested the de- struction of the hedge. missioners have adopted they ; depth, Wyo., depth, July States the The Midwest Refining company an-| | nounces the following completions at | Salt Creek for the week ending July 6: . NE section 2: Wryo.-Assoc. Bluestone; feet. initial production, 665 barrels. Well No. 6AX, SE\% section 6-39-78, | 0ll area of about 4,825 acres, which & Gulf Salathe; depth, 2,130 feat. | Was an average of 2,150 barrels to the section 11-40- depth, | 40-79, |extent. 043 Well No. 4A, SE% section 30-40-78, | US% 315 feet; initial FARM BUREAU LAUNGHES. FIGHT ON GHIAN HEDGE 6.—(Spe-| Farm depart- The city com- stand/ therefore unique, in that the first oil will destroy the hedge when. and only when, it is convicted of har boring rust jwhich has just been issued by the Bureau of Mines, Manufactures and Agriculture, Little Rovk, Ark. ‘The El Dorado oil field has developed |rapidly since January 19, 1921, when the first well that produced commer- cial quantities of oil was completed. |The low prices for of] and lack of |adequate pipe lines and tankage in the earlier months did not apparently re- tard the rate of development to any Up to November 1, 1921, the field had produced approximately 10,000,000 barrels of ofl from a proven | acre. ‘The maximum daily production of 560|the field was about 77,000 barrels, | which occurred for a few days in Aug- 1921. The production decreased |to about 44,000 barrels. per day by the | middle of October, 1921. Since August, }1921, producing weils were completed at the average rate of about twenty |per week for three months. By the Jend of October, 1921,-about 400 com- | mercial oil wells had been completed. |The initial productions of the oil wells ranged from onl ya few barrels to 5,000 barrels of oil per day and the gas wells up to 2 maximum of about 40,000,000 cubic feet of gas per day. Unfortunately, some of the wells have |been inefficiently handled, which has |resulted in considerable waste. ‘The El Dorado field furnished the Gas has been Smith gas field, which lies near the Oklahoma lime an some 175 miles northwest of El Dorado. Because of | this gas production, the Arkansas leg- islature passed an act in 1917 which dealt with the conservation of oil and gas. The situation for El Dorado was jcially and many believe that the pro- duction will be large. New York Oil Fensland Second 4s First 4%5 Second 44s Third 4\s Rock River Salt Creek Big Muddy Mule Creek BELIEVED Blt PRODUCER BASIN, Wyo., July 6.—(Special to The Pribune.)—The Ashland-Wyoming Oil company, drilling on northeast % section 29-52-93, this morning pene trated the Amsdon sand and brought in a well which unquestionably will prove of commercial importance. The sand was tapped at ',410 feet and the oil rose rapidly Jn the hole and is of a high grade. A break in the Big Horn canal, where water is secured for drill- ing operations, made it necessary to cap the well before the sand is drilled into but water will again be avail- able within the next few days, when the well will be finished. Ohio men who examined the well are satisfied that the same conditions will be en- countered in the Mercer dome struc- ture where they are drilling. ‘Those who are engaged in the oil business here who have examined the well pro- nounce it an excellent one commer- This wildcat has been drilling the past two years and for several weeks the hard Ten- sleep formation has carried oil con-| tinually. The well means the drilling | of dozens of anticlines on the east side! of the Big Horn rirer adjacent to! Basin, where the same formations| exist at shallower depth. ately subject to the regulations of a conservation commission. The excessive production of sand with the oil has been the source of much trouble to the operators and has caused them to give cousiderable at-! tention to the handling of this prob- lem. The excessive production of water in some areas has curtailed or topped the production of oil and gas. Several facte-s have contributed to a more rapid increase, in water production} than ‘was necessary. One object of this report is to indicate the harmful effect of water and to discuss the most effective methods of excluding the water and operating the properties. The present report includes a ‘hi. tory of the development of the El Do- rado field; discusses drilling methods! employed in the field, water condi- tions, and the use of cement as a pro- tection against water encroachment;| and contains a production record of the field. A chapter, contributed by the United States Geological Survey, }.covers the geology-of the field. Copies of the report may be obtain- ed from Jim G. Ferguson, Commis- sioner, Bureau of Mines, Manufac- tures and Agriculture, Little Rock, | Production of the state was immedi- Ark. $4.75 @45 20c of stock Sheep— even; 1 westerns mbs un-| 0.40 lambs strong. $12. DENVER, Receipts steers £1.50@9.95; @6.25 0: Hogs—Receipts 9 top $10.60; igher; eep 40; Colo., Receipts sheep July 6.—Cattle— 1,070; market steady; cows and ; calves $8@11; bulls stockers and feeders $5. 8; and 3.421; 13.40; native lambs $13.25; fed clipped feeders heifers market 150 to bulk $10.20@ market $5.75@6.25; beet 50 | @6. 234 Midwest Bldg., THE PERKINS PROCESS FOR CEMENTING OIL WELLS Assures you that the cement will be placed behind the casing where needed, and cannot become mixed with any other fluid or substance already in the well. WYOMING OIL WELL CEMENTING CO. Exclusive Licensees for Wyoming. -Or Phone Snook’s Camp, Salt Creek Casper—Phone 1173 stead prices unchanged. Lead |steady; spot 5.75. Zinc firm; Bast St. | Louis spot and nearby deliver 5.50. | Antimony spot 5@5.25. MARKETSHOWS. FIRMER TONE 22° Ses firmer; high 5; low “4% closing bid 5; offered at 5%; last Outlook for Early Settlement of Strike Is Factof in Yoan 5; call loans against acceptances Trading Today. . 3%. Time loans steady; 60 days 4; 90 days 4; six months 44; prime mer- cantile paper 4@4%- Securities leeces: Deiaine unwashed 55@57c;/Angio Am. Ofl, 7%s, 1925.103% fine unwashed 45@48c; half biood|Am. Sug. Ref. 6s, 1937. 1014, combing 50@S5ic; threeeighths blood A™- T. & T., Ga, 1924 ... 101%, Bal. & Ohio, -i combin 46 | Bel. ons <% re Exchange. YORK, July 6.—Eoreign ex- ep Michigan and New York fleeces:| Bel Gov. SF. 745) > 5 -. . 3. NEW —covering of | Mans? beav7: Great Britain demand |. ing unwashed: $2@54c; fine UN-| Rel. Gov. 8. F:. f tins te w Sf) 4.44; cables “444%; 60-day bills on} UEO EY {s@ase; half blood unwashed | British, 54s, 1929 short contracts in the foreign oils and buying of rails based on the better outiook for an early settlement of the strike were factors in the firmer tone of today’s early stock market. Mex- jean Petroleum and Pan-American A banks 4.43. France demand Italy demand 4.40 Belgium demaM 7.46%; cables 7.47. Germany demand .21%; cables .21%. Holand demand 38.55; cables 33.60. 47@48c; three-eighths blood unwashed; British, 54s 45@46c; quarter blood unwashed 43 5s, 1937 , 197 Missouri end Chile, 8s, 1941 New England Half blood > Coal, 5s, 1950 . 4c; registered initial gains of 1% points| Norway demand 16.70. threeeighths blood 44@ y blood 41@42c. 1924 (s) . aggQaeratiatan Selby paso poten : Apeatan 33-59- \ pstmt ‘Texas fine 12 months | Copper Expt, 8s, 1925 <2 oa BE nee a penene. ahy $1.25@1.20; fine 8 months $1.10@1.15.|Cub. Am. Sug., 83, 1931 .. phalt. Studebaker rose 1% points and| gwitzeriand demand 19 pain Ngeeoaies ay TH een Ctucible and Baldwin Locomotive} spain demand 15.62. ma a mae 7 tonber rr iermangere Giger sitar srn) DE nedinaarcapsiieca “Oregon astern, No. 1 staple $1.26 featured the rails, rising 2% points| poisnd demand .02%. ee Tine mneaiiens im the first few transactions. Louis-| Czecho-Slovakia demand 1.93. @1.35; fine and fine m: combing $1.20@1.25; eastern clothing$1.10@1.15; valley No. 1, $1.07@1.10. ‘Territory fine staple choice $1.35; half blood combing $1.10@1.15; three-| eighths blood combing 85@90c; haif/ blood combing 75@78¢ Pulled: delaine $1.15@1.20; A, A./Great’ Nor. $1.08@1.22; A. supers $1@1.05. Hock. Valley, 6s, 1924 Mohairs—Best combing, 55@58c;|IaBelle Iron, 6s, 1940 . best carding 50@58c. |Jap Gov., 4s, 1931 NEW LIGHTING SYSTEM |: 2: FOR LOGAL POSTOFIGE Miss. Pae., 68, Ohio Tr. & Lt. P. N. The Casper postoffice is starting the installation of a new lighting sys- tem today. Instoad of the overhead lighting which has been used former- ly, it has been decided to furnish fix- tures so that light can be provided at the smallest amount of inconvenience and expense. The contract for the new fixtures is being filled by the Electne Supply and Constrution com pany at a costof about $500. fbr Sats. aaa, ville and Nashville, Canadian Pacific and Missouri Pacific preferred also ‘were substantially better. Nova Scotia Steel was the one wreak issue, @ectining almost four points. Cotton carriers led the more general advance of rails during the morning. Atlantic Coast Line increased its. gain to 4% points and Louisville and Nash- Ville showed a four-point advance Gains of 1 to 2% ‘points marked the demand for coalers, expecially Dela- ware, Lackawanna and Western Reading, Lehigh Valley and Erie first preferred. Further _ pronounced strength of domestic oils with Stand- ard Oil of New Jersey gaining 5% points, was offset by renewed weak ness of Mexicans. Constant pressure caused a reaction of 65% points in Mexican Pefroleum and Pan-American B also became heavy. Coppers, inde- pendent steels and gas shares were fir mto strong. Call money opened at 4% per cent. Argentine demand 36.32 Brazil demand 13.79. Montreal 99. French Gov., Silver. French Gov., 7 NEW YORK, July 6.—Foreign bar silver 71; Mexican dollars 54%. WOOL MARKET GENERALLY QUIET; VALUES STEADY BOSTON, July 6.—The Commer- cial Bulletin Saturday said: “The wool market has been quieter this week but values are generally steady, especially on standard wools. Some business is reported in new ter- ritory wools on grades running three- eighths and above at unchanged rates. Some wools in bond also have been sold at steady rates. “In the west, desultory buying 1s reported on the lower basis of limits given by buyers two weeks ago. The manufacturers aro getting ready for the new goods season and are buying only moderately at the moment. Lit- tle apprehension over the raflroad strike is felt. Penn. R. R., 7s, 1936 Penn. R. R. 614s, 1936 .. Paris L. M. R. R.. 6 Queensland, 7s, 1941 Queensland, 6s, 1947 Seine, 7s, 1942 ..... Sin. Crude Oil, bis, 1 1925 MARKS ON TOBOGGAN. NEW YORK, July 6.—The price of German marks, which has been on the toboggan for several weeks, fell today to a new low record. One hundred marks were quoted in thts market at between 22 and 22% cents. The nor- mal, or pre-war pricé of marks, was , 1941 5s, 195: WYOMING OIL STOCKS. “WE PAY THE LOss” 23.8 cents each. rn eee ieshes ie 9 | oe YORK, July 6.—Prices on -p lt H = 0, eR en fairly | Wyoming oil sto~ks at 2 p. m. today & Metal: steady on the basis of closing rates at| ere listed on the New York curb as elton emry NEW YORK, July 6.—Copper | London.” follows: Insurance and Bonds steady: electrolytic spot and futured| The Bulletin wil] publish wool prices| Boston-Wyoming 88; Fensiand 17%: All Lines 13%@14. Tin irregular: «not Alas follows: Glenrock 1%; Merritt 9%; Mountain Room 24, Townsend Building nearby 31.37; futures 31.50. Iron! Doniestic Ohio and Pennsylvania! Producers 15; Mutual 10: Omar 2%. The New Center of a Service that Reaches Around the World ————— iran Pa : ae ee ast — =e New Plant of Bridgeport Machine Company, Wichita, Kances Wherever there’s an oil well BRIDGEPORT is known— In the center of the busiest fields, or at the most remote development in foreign lands the effect of grouping the offices and plants of the Bridgeport Machine Company into this great plant will be felt. A service alrgady renowned will be still further improved; drill- ing speeded, delays shortened and the whole trade quickened. For not only will this factory give more ample room for this fast growing manufacturing business, but its transportation facilities will be greatly improved, being conveniently located for freight, express, passenger, aeroplane, truck, motor car or any other type of transportation to all the oil fields. OIL WELL DRILLING AND FISHING TOOLS The Bridgeport Machine Company WICHITA, KANSAS BRANCH STORES I | I i Augusta, Kans. Ft. Worth, Tex. Breckenridge, T: ulsa, El Dorado, Kans. Rising Star, Tex. Ranger, Tex. Tonkawa: Okla, Florence, Kaus. South Bend, Tex. Shidler, Okla.