Casper Daily Tribune Newspaper, July 22, 1922, Page 8

PAGE EIGHT WAKET GOSSIP AND FIELD NEWS QHIO OPERATIONS ON INGREASE After a period of comparative inactivity for the past sev- eral months which was started during the crude Price cuts of last summer, the Ohio Oil company is rapidly approaching its normal position as an operator in this district with 35 wells now drilling. Seven of these are “wildcats” located in vari-|“' 1 1 1 Allied Cher . Che Casper Dally Cridune | New Xork Stocks: | oii Securities STOCK TRADING 15 DULL TODAY ous Wyoming prospective fields and five have been started in WHEAT TAKES ANOTHER DROP } the Kevin-Sr.urst field of Montana. No completions as reported for the week, but one wel ts being drilled in Salt Creek, the result of which ould be known fn a day or two, Following {s status of wells in all the fields of the Mountain states Big Muddy. 21, Jones OPC, section 10-83. OTN at 1.090 feet Grass Creek. 10, Phelps. : 3 section 18-46.98; ce Trading in Chicago Weak and | mented at 3.072 feet tess | No. 13, LU Sheep, fishing for bit at | 3.935 feet. CHICAGO, y wheat during the en: was Hght and fea some t = traders were inclined to press the sel- ling side. Scattered rains in the north west-sectton of the grain belt yest day and predictions of continued good weather for the crop made the out- look more favorable to the bears. There a inl in the talk re- garding the railroad strike is funda- mentally 2 bearish argument, through it was believed something promising would re from the conference be- tween President Harding and the head of the railroad Inbor board, who was summoned to Washington The opening which ranged from un- Lance Creek. No. 3, Lamb, section 32-36-65, fish- ing for tools at 2,285 feet. No. 2, Putman, section 4-35-65; drfll- ing at 680 feet. Mule Oreek. No. 7, Butte, No. 45; drilling at 840 feet. No. 1, ing casing at 2,160 feet No. 1 Tract G, section 17-39-71 ing casing at 2,116 feet. No. 1, Tract ET, section 20-39-78; drilling at 2,480 feet. No. 1, Tract K, section 7-39-78; arill- ing in at 2,630 feet. No. 11, section 1-39-7 ing at 1,702 feet. Bo. 2, Tract 0. , testing cas- section 13-39-79; changed figures to “4c lower, Sept | Cleaning out at 2,480 feet. $1.10% to $1.10% and December| No. 2 Bellview OPC, section 3-89-79; $1.11% to $1.12, was followed for a|rilling at 2,735 feet. alight further decline, and then by > 11, northwest quarter section something of a rally. 40-79; testing casing at 2,190 feet The mar t later became heavy and dlosed weak, fina! quotations showing & net loss cf 1% to 1c, with Sentem- Der $1.09% to $1.09% and Decembers $L10% to 1.10% Corn anil oats were firmer, but trade Nght. After starting unchanged to 38 @ l4o higher, with Sept, 66% to 64 1-2, the corn market underwent & slight general eng all around. Corn followed the action of wheat. the finish ranging from % to 1%c to Rock River. No, 1 section 27-20-78! bafling and swabbing at 3,390 feet. No. 4, Diamond, section 35-20-78; Grilling at 2,195 feet. No. 2, University, Grilling at 2,596 feot. No, 2 Trapshooters, section 34-20-18; Grilling at 1,965 feet. No. 8, State land, section 34-2078; ce- mented 15%4-inch casing at 450 feet. No. 9, State land, sectian 34-20-78; section 26-20-78; Vdc net lower, with September 63% | rigged at 1,665 feet. to $3%c. No. 6, Dixon, section 84-20-78; drm- Oxts started unchanged <c % @|ing at 2,985 feet. 4c up, with Sept. 34% to 35, and held} No. 7, Dixon, section 24-20-78; shut close to the initial range. down at 2,005 fect. Higher quotations for hogs tended to| No. 8 Dixon, section 34-20-78, ce- Nft provisions. Closing Quotations. mented 10inch at 2,037 feet. Wildcat Tests. Hidden Dome. No. Open. High. Low. Cl A irqeeaon FerSe, : = - ©lose.) 90; cemented at 1,019 feet. Spiga O'Brien Springs, section 2-24-86; y = ~ - 238 133% 111% 111% | Conon county, Wyoming, running Rept. — — - 2.10% 110% 1.09 1.09% | da'inch at SBIP feet % 143 i ,512 fect, Drees PATH 1A 110% 110i ren Barings, ebchiond URSLSE tut down at 3,204 feet. Joy == = AEM IK 63% 202% eprinen, section 6-104; aap ae pes) ene $5 68% | ortiing at 2,140 feet. A: Sop ‘81% 80% 80% |" Moroes Domo, section 38-61-90; run- ing 6%-inch at 1,780 feet. July. 23% 22% 32% 32% |” Bept -__ 24% 35 33% 24 Big (Wall, Mont., section (3420-68; Deo. - arK istmy | : anes canine ab@aOS Fee LARD HK ATK 26% 36% | iaetracktag casing ati2,70) feet. Butter, Eggs, a \ CHICAGO, July 22.—Butter steady to lower, creamery extras 24; firsts 30 @ 32; seconds 29 @ 29 1.2; stundards 32 12. Eggs lower; receipts 13,791 cases; firsts 20 @ 20 1-2; ordinary firsts 19: miscellaneous 19 1-3 @ 20. storage packed extras 22; storage packed firsts 21 1-2; poultry steady to lower, fowls 21 1-2; broilers 23 @ 26; roosters 13. ~ Potatoes CHICAGO, July 22.—Potatoes weak- er, prices lower, demand and move men slow, receipts 92 cars on treck 285 cara; total United States uipments 582 cars, eastern shore, sinta barrel cobbles No. 1, @ 4.00; Kansas sacked Cobblers 1.80 @ 1.90, few sales, sacked early Obios, partly graded, slight dirty, best mn 1,25 @ 1.40, poorer 1.10 @ 1.25, 3 esota sacked early Ohies, partly graded 1.35 @ 1.40, bulk 1.40 @ 1.45; closing prices yesterday Washington sacked netted Gems, No. 1, ono car 1.50. (EES SSS | Livestock Mart | CHICAGO, July 22.—(United States Bureau of Agricultural Economics)— pts 1,500. compared with choice anod prime beef So higher; lower ding grassers very slow; to 50c lower; spots off more; best beef cows and heifers and can- hanged. In-between grassers mostly 25 to: 35c lower; spots amon to medium cows 50c or rec sto; rs and feeders strong; Horseshoe, Wyo., section 8-33-91, sideracking 6%-4nch at 3,270 feet. Sunburst, Mont. No, 2, Richard Davey, section 8-3¢- fw; drilling at 650 feet. No 1, W. A. Barr, section 2-8¢-2w; Grilling at. 915 feet. Canadian Paciic . Contra! Leachor | Chandler “Motors Chesapeake " myers Lasky General Asphalt General Electric General Motors Goodrich Co. . Grext Northern pra. Milinois Central . Inspiration Copper - International Harvester Int. Mer Marine pid. . International Paper Invincible Ol Kelly Sprin / 71 14% 38% 81 107% B 41 4 Tire . Kennecott Coppe jorfolk and Western Northern Pacific ..... Oklahoma Prod. end Rei. Pacific OU ... Pan American Pennsylvania People’s Gas Pure Ol ... Ray Consolidat Reading Rep. Iron and Ste. Royal Dutch, N, Sears Roebuck Sinclair Con On Southern Pacific Southern Railway . Standard O11 of N. J. : Studebaker Corporation Tennessee Copper Texas Co. ....... Texas and Pacific . Products Transcontinental Of1 Union Pacific Petroleum + 14% ++ 141%] - 6 | j 6 id 1M United States Steel Utah Copper cj Westinghouse Electrice Willys Overland “ American Zinc, Lead and Sm. Butte and Superior Cala Petroleum Montana Power ShaShattuck Arizona Great Northern Ore Chicago, & Northwes * aaete Pit SSREEE No Spider, most of its acreage now be-| ing under the process of development j Standard Shipments. | The Standard shipped during the| month of June a tétal of 6,600,000 gal- lons of gasoline from its local plant to Baton Rouge for export. This is the same amount as was shipped dur- ing the previous month and is 2,000- 000barrels short of the desired aver- ege. During the remainder of the summer an effort will he made to in- crease the shipments that the short- age may be overcome and-a higher average maintained. No. 1, I. Semdon, section 1-36-2w; Grilling @t 900 fret. No. 1, A. Swaze, section 34-86-2w, spudding in. No. 1, O. Harmon, section 26.86-2W, @rMing at 425 fest. Consolidated Well Completed. Consolidated Royalty Oil company’s Richaitison No. 2, which was com- pleted yesterday on the southwest quarter of section 5-39-78, Balt Creek, made 1,535 barrels on the first 24 hour test and ranks with the better wells of that vicinity. ‘This is the third well brought in by this corporation and Western Explora- tion which are developing the land jointly, on what is known as tract O, and which brought the high price of $226,000 at the Dougias tand sale last year. Gasoline Prices Cat. Standard Of] company of Louisiana has made fts second cut in the price of gasoline in tts territory, the new quotations being 210 tank wagon and 24e retail. Derrick Sells First Ou. ‘The Derrick Ol company with head- quarters at Douglas is now on an earning basis it having just received two checks from the United States Oll and Refining company, for royalty ofl sold from the Osage field. In addition to its Osage property, the Derrick also owns leases and roy- | aity interests in Balt Creek and Polson | ulls and veal calves mostly | |6.00 @ 7.00; heavy ewes 3.50 @ 4.50; |feeder lambs 12.60 @ 12.85. Omaha Qvotations. OMAHA, Neb., July 22.—(United s beef steers 10:85; weeks bulk| States Bureau of Agricultural Eoo- prices beef ste a 1010; bulk | nomics.)—Hogs—Receipts 6,000; light choice sows 5.00 a 7.25;|butchers steady to strong; other canners ters 290 a 8.75. bolog.|Classes uneven, mostly 10c higher: na bulls 4.50 @ 4.75; veal calves 9.00| bulk of sales 38@10.40, top $1.65. @ 9.50; stockers and feeders 5.75 @| Cattle—Receipts 4f¢; compared with 9 jweek ago. Cholce grade best steers opened about |about steady; other grades 25c to 60c > lower on good s; others steady ts 10c higher; top 11.00 cal top late 10.85; bulk} lower; week's top $10.75; better grades she stock steady; other grades 35c to 50c lower, bulls weak to 25c lower; veals 60c to $1 lower; stockers and tchers 10.25 @ 10.78; holdover| feeders steady to 25c higher. packers mostly 8.00 @ 9.00.| Sheep—Receipts none; compared avy weight 10-15 @ 10.55;|with week ago: Lambs $1 lower: @ 10.80; light 10. packing lambs and yearlings mostly, 75c ight sheep sheep $1.50 steady to 25¢ vestern In feeders lambs .00 lower, week: feeders 5 @ 8.50; killing pigs| 3,000; compared with | Receipts 15' lower, dull lambs and | 8.2 ) @ $1.50 lower; heavy|stockers and feeders $4.75@6. @ |sheep_and yearlings 50c ta 75c lower; ht 10.40 @ 19.85; packing| feeders 75c to $1 lower. Denver Prices. % DENVER, Colo., July 22.—Cattle— ; market unchanged; beef ers $7@9.50; cows and heifers $5@ calves $4@7; bulls $2.45@4.50; | a Hogs—Receipts 66; market steady: op native|top on sale $9.65. 13.50; fat ewes 8.00; | Sheep—Receipts 532; market steady; Pipe Shipment Recstved. The Central Pipeline company has recotved its first shipment of materiai for the line to Salt Creek, a carload of pipe covering having arrived this morning. . Telegraphic advices state that the first consignment of pipe, consisting of five carloads will arrive tomorrow, to be followed by twelve cars on Mon- day. Other shipments will arrive daily until the entire line ts received and the work of hauling and stringing is expected to start on Monday. Camberiand Test ‘ A shallow well being drilled near Cumberland by J. A. Moore has reached a depth of 350 feet where the first sand {s expected. A hole drilled last summer to a depth of 1,370 feet lower on the structure encountered a show of oll, and after setting idle for nearly a year, now hes ojl flowing over the casing. BOSTON, Mass, July 21— The Calumet and Hecla Mining company today declared a dividend of five dol- Jars a share. The last dividend was declared on June 20, 1920, ———._—___ At several fashionable weddings in London this season the brides have de- fied superstition by choosing green as the color scheme of their bridal re- tinues. ————____ Green has always been considered the emblem of fickleness. | Grass | lett. Lance Creek Royalty tusk Royalty ..... Preston Mike Henry Mountain & Guit Nortwest . + 8 Riverton ‘e. + 00% Royalty & Producers. °09 Tom Bell Royalty .... .02 5 Exploration. 2.60 Wind River Refg. ... 01 United Pete . 3 Wyo-Kans vyo-Tex .. Western Oil Prod. and Refrs. Marine Elk Basin Mutual &. G. Indiana .... Cities Service Com Ferland : New York 2% First 4s Secend 4s . | a Mule Creek Big Muddy Salt Creek Rock Creek | Osag reek -. ‘Torchli, ht | Hamilton - Cat Creek {TAH TERRITORY 13 OPENED 10 DRILLING Quite an area of prospective oll ignds in Utah may now be prospected ps the resut of a recent decision hand- ed down by ths secretary of the Inter- jor regarding Indian lands withdrawn fron: location by executive order, This decision holds that the term “Indian reservation” as used in department regulations under the leasing law, does not include reservations created by executive action and that such res- ervationa are subject to oll prowpect- ing permits and leases. . ‘W. R. Calvert, geologist of tha Utah Oll Refining company, is now in the San Juan district checking up loca- tions made by the Midwest engineers on the Oregon Rock structure, and his visit may result in the entrance of that company to the field on a de- velopment campaign. Midwest Refining company is now preyaring to take two rigs into the field and start immediate operations, The Monumental Oil company now hes one well drilling at 750 feet in the district and is moving in another string of tools. The Mexican Hat Oil company has @ deep well started and is now ne gotiating for an additional rig and tools to start the second test. Silk Stock at Fuchs Store Is Depleted By Sale Success Gorgeous silks at low prices were shown to the patrons of Fuchs’ this morning who struggled their way in-' to the popular stort after waiting for an hour on the sidewalk before the doors were opened. Placards on groups of handsome gowns announced their selling price, By noon today very few dresses were The silks had gone before the mighty desire of the buying public for nice things at reasonable prices. STRONG TONE MAINTAINED BY MARKETS DESPITE BIG STRIKES NEW YORK, July 22.—The financial and commodity markets maintained a fairly even tone during the better part of the week, regardless of the severe handicaps imposed by the crisis in the coal and railroad strikes and further slow- ing down of industrial operations. precarious financial position of sever- some of the high grade specialties un-) a) prominent companies, which it was Ger professional control. feared, might necessitate reorganiza- Steels and equipments were in de-| tion or drastic capital readjustment. mand, partly to cover more or less ex-| Unusual conditions ruled in the tensive short contracts, but for the| money market, rates for call loans de- most part because trade conditions| veloping unexpected firmness, which seemed to justify hopes of a revival of Prices of stocks were irregular at their worst, with an oc- time funds, especially the shorter activity in those industries, dates, eased perceptibly with more lib- casional display of ae but ofls were variable. Coppers, chemicals, textiles and|eral purchases of mercantile paper at closing bulk mrices |¢wes $11.50@12.35; spring lambs $5@ fat lambs 12.50 @ 13,00; fat jight ewes | 6.26. ee RE RSS IA RE Ea ate A AA RT RIE ARR TT ERT EEE TS SEE PRE strength in several of the seasoned| Motors also lost ground, their re- rails, notably cotton carriers, and|Yersal belng largely ascribed to the numerous subsidiary issues derived|an average of four per cent for all} thelr tentative support from the same’ maturities. jean Beet Sugar. 46 4 3 = : = 2 a9 a 4% |Strength of Independent Steel 3 Is Only Bright Spot in = Market. aa +a New York, July 22—Today’s stock 33 | market was dull and featGrelens, aside , ‘35 |frota the prominence and strength of and West Indies __ 02 | independent steels. Those shares reg- Baldwin Locomotive 5.50 | istered gross gains of 1 to 2% points ethlahens meses oe m4 on the statement of Attorney General Daugherty thet prospective combina- tions were not.in violation of the fed- eral statutes. Oils were irregular, casional strength. Selling ef the mo- ness in Studebaker. Changes among reils were fractional, the trend, how- ever, being lower. The close was ir- regular. Sales approximated 600,000 shares. NEW YORK, July 23.—Independent steel shares were the strong features at the outset of today’s brief stock market session as a result of the gov ern t's approval of the proposed merger. Midvale, Lackawanna, Re- blic and Bethichem Steels rogistered early gains of 1 to 2% points and affil- fated issues also improved. Rails howed no perceptible response devel- opments in the strike situation. Mo- tors and oils showed variable gains Mexican Petroleum rising 1% pointe. Food and chemicals specialties rose fractionally over yesterday's final Prices. Leading foreign exchanges Were firm on the better tone of the London market. Bank Reserves Up. NEW YORK, July 22.—The actual condition of the clearing house banks shows that they held $43,880,220 in excess of legal requirements. This is an increase of $31,564,230 from last week. Silver. NEW YORK, July 22.—Foreign bar silver 69%; Mexican dollars 63. Foreign Exchange Irregular. NEW’ YORK, July 22.—Great Bri- tain demand 4.45%; cables 4.45%; 60- @ay bills on banks 4.43%. France demand 8.37%; cables 8.38. Italy demand 4.64%; cables 4.65. Belgium demand 7.92%; cables 7.93. Germany demand. 19; cables .19%. Holland demand 38.85; cables 38,90. Norway demand 16.70. Sweden demand 25,90. Denmark demand 21.53. Switzerland demand 19.12. Spain demand 15.50, es All the other stock had also been greatly deplete? When Tir, Fuchs first opened the sale he expected to run ft for a week, thinking that it would take that long to dispose of his summer goods, but at noon today he made the statement Mexican Petroleum alone showing oc-| Cop’ tors was resumed with further heavi.| © and trust companies for the week |: SATURDAY, JULY 22, 1922. eee the present summer. tons Furst sd by the John U. Fig ~-trities Cororation, Cheyenne, Material ts now belng moved inio the Meed mructure, six miles south considerable additional acreage during of Soup Creek, on deeded law. The sand ts expected here at from 850 to 1,000 feet. ‘The T. §. Hogan well on section 19. 101 38% $s, 1946 - Bibs, 1937 .. 1942 Dan. Con. Mun. Del. & Hud. Den., 6 Denmark, DuPont 7%: Framerican, | 110% | 101% 101% | % 110% 100 78% % Great Nor., 7s, 1936 . Hock. Valley, 6s, 1924 LaBelle iron, 6: Jap Gov., 964 | 105% | 94% 109% 207% 195% 109 | | i Queensland 6s 1947 Seine 7s, 1942 . Sin. Crude Oil, 5% % 106% 100% 105% 103% 4 104% 96 98% | Uruguay, 8s, 1946 | Vir. Ihy., 5a, 1962 | 92% | | Greece demand 3.12, : Poland demand .01%. Czecho-Slovakia demand 2.15. Argentine demand 36.75, Brazil demand 13.75. Montreal 99 1-16. London Silver. LONDON, July 22.—Bar silver 32% per ounce; money 1% per cent. Dis- count rates short and three months bills 2 per cent. pa sla TA With a trunk six feet in diameter at the base and a spread of branches covering approximately 6,000 square feet, a cherry tree in the Hood River district of Oregon {s helieved to be} the largest tree of its kind in the world. a ae The big international labor untons now have seven banks in full opera- tion, with nearly a dozen more in that the stock wouldn’t hold out much longer. In fact it may be gone by the time of closing this evening. Brgcess of organization. pechatdeion rec ae “Meet me at the Smokehouse.” ORY HOLE FINDS 78% | 101% | 101% | | % | Campbell wells north to the Holding 4-30 will now be dzilled to completion aboording to the terms of a contract recently signed by ihe owner. A joint test has Deen started on the Woody Creek by Western States and Midwest Refining, a rotary being used instead of the usual standard. In addition to the wells being drilled by the Western States in Soap Creek and the test in Rotten Grass, Hughes and De Bolt are drilling in the ex- treme east end of the Soap Creek field. The hole has been standing a: 850 feet for the past two weeks, owlag te trouble with the tools, —————_—_ PRICE DECLINES MARK LATE BUTTER TRADING CHICAGO, July 22.—Further net do- clines resulted frum the congested condition of butter markets during the be similar to that found in tre Camp-| week ending today with practically the bel discovery well, six miles to the|only difference from previous weeks j¢) being that under grades shared in the {declines to a greater extent, says the weekly report of the United States Bureau of Agricultural Economics. That the increase in demand for fine butter was largely for storing was shown in the more rapid increase in storage holdings. The coa) and raliroad strikes, which threatened transportation, made the condition of markets more than ever unsettled. Receipts at Chicas;o, New York, Bos- ton and Philadelphia show a gradual decrease form the peak which came being drilled in the vicinity of Hardin,/during the latter part of June, but Mont., covering a wide rango of terri-|compared with last year they are still tory and these tests should prove up very large. STRIKE UNCERTAINTIES FORCE WHEAT PRICE TO LOWER LEVEL CHICAGO, July 22.—Efforts to anticipate the market ef- fects of any settlement of the railway and coal strikes have done a good deal this week to send wheat prices to a lower level. Compared with a week ago, wheat this morning was down 2% to 4%c, corn was 2c off to 14c up, and oats show- ing a decline of 114 and 1% to 2%%c. In provisions, the week brought net gains varying from 7c toy size. 65c. Broadening of export demand for ‘Whenever .new moves gave eveu| wheat took place on the declines in silght promise of bringing about an/| price, but failed to check to any great end of the big labor struggle, wheat| extent the downward tendency of val- traders were quick to attempt dis-/ues, Buying for Buropean shipment counting in advance the fall in prices| was said to be largely due to increns- that it #=* wenerally assumed would| ing concern abroad about the posstbil- result should either or both the strikes|ity of supplies being restricted by be declared off. The bear side of the} strike interference. Liberal receipts Market found. additional favor, too,|of wheat at primary centers were becaure of weather conditions which } noted, however, despite hampered fa- Cispellod almost completely a lingering | cllities for transportation and rural fear that black rust might endanger| complaints of a shortage of cars. the spring crop. Im'this connection, Corn and oats were easier with railway officizls were quoted as pre-| wheat on account suspicious field re- dicting that notwithstanding . strike | ports. difficulties the roads in the northwest| Provisions reflected higher hog val- would haul _a wheat yield of record| ues and a better shipping demand. OIL SAN LOWER Ohio Opens Producer Kevin Field; Othe: Mon- tana Operations. ' in ‘The Obio-Sunburst well, which found the first sand dry has encountered commercial production in the second sand in the Kevin field according to jate reports. The second producing horizon was found at 1,758 feet. The ofl found in this well is said to producing area an determined by the latest well, represents a huge triangle extending from the Ohio and r Royalty well on section 21-36-3 and the b. C. Coe Drilling company on section 4-36-2. About sixteen wells are now drilling within the triangle in’ ad- dition to numerous rigs being moved in the greatest amount of activity be- ing in 35-2, abovt the center of the area. There are at present, nine test wells The factories at Marietta, Ohio, and Augusta, The Bridgeport Tools and Swan Underreamers can be sec stores located at Tulsa, Tonkawa, Shidler, Okla.; Ranger, South Bend, Texas; Augusta, ElDorado, Florence, OR ‘AT ‘ALL SUPPLY STORES factory at Wichita, Kansas. BRugiforT Underreamers Kansas, have been consolidated in this large ured at any of our branch Ft. Worth, Rising Star, Breckenridge, Kansas, Marietta, Ohio.