Casper Daily Tribune Newspaper, July 24, 1922, Page 6

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28.0. bet, <A. Sing cs nln eee MARKET GOSSIP. AND FIELD NEWS GASOLINE STOCKS STILL SLUMP == Sects 2 eee? NEW YORK, July 24.—Although gasoline refineries in the | Amerean United States are breaking all records for production, the lAsnerioes Sumatra * reserve supply of “gas” for the nation’s automobiles is stead- ily growing snfaller, the American Petroleum Institute dis. closed today. In May, 12,229,975 barrels of motor fuel were refined, WHEAT PRICES FORCED LOWER Sart Break Carries Futures to New Low on the Chi- cago Market. CHICAGO, July 24—Big receipts here estimated at 660 carloads led to a material decline in the price of wheat the early dealings. Bear. n Kai and fa- the spring wheat ditional bearish fac- tors. There was a general rush to sell nportant buying ranged from tember $1.08% to 8 % to %e $1.18% and December $1.10 to $1.10%, were followed setback. Rallies failed to hold and with hedg- ing preswure increasing the market yufferead a sharp break in the last hour. The close was unsettled, 1 to @% net lower, with September $1.07% to 1.07% and December 1.09% @1.09%. Corn and oats as well as wheat were by depressed by large receipts. After opening unchanged to %c lower, Sep- tember 63 to 63%4c the market under- went a moderate general sag. Beneficiaseassscts of rain was report- ef and the I ber delivery touched the lowest yet this season. The close ‘Iie net de- cling, with Septembet 62% to 62%@ 3c. Oats started % to %o lower, Sep- tember 33%0 and rallied a little but then fell lower than before. Provisions were without support de epite an upturn in hog values. topping by over a million barrels the previous record made in poet 1920. Yet. according to the institute's figures, if all production should cease | © simultaneously there would be only 82 gallons aplece for the 10,448,682 auto- moblies registered in the country. Despite the record-breaking produc- tion month of May, 843,084 barrels ‘were withdrawn from reserves to sup- ply the current demand, it was shown. | C Montana Merger Announced. A merger of great importance to Montana development has been com- pleted with the combining of the Homestake Exploration company and the Texas-Pacific Coal and Oil com- pany, the latter being one of the larg- est operators in the southern fields. The new company is assured a back- ing of 35,000,000 for development pur- Poses and controls 4,800 acres in the Kevin-Sunburst field in addition to land In Cat Creek and other Montana. structures which will be developed im- mediately. This company ts also drill- ing tn Malt Creek. J. Roby Penn, former vice president of Midwest Refining and well known locally, now an official of the Texas- Pacific, has been elected director of the Homestake. Kevin Well Record Sought. ‘With instructions to beat all previ- ous records, a double shift {s now New York Stocks | I cee Pon are WS ee American Woolen Chesapeake and Ohio Chicago, Mil and St. Pauli Ghicago, R. I. and Pac. Chino Copper .............00 canes Fuel ahd Iron Products > ae Players Lasky General Elec:ric General Motors Goodrich Co. . Great Northern Illinois Central Inspiration Copper International Harvester Mer Marine pfd. Internation Paper . Invincible Ol Kelly Springfield Tire . Kennecott Cop; Louisville and Nashville . Mexican Petroleum . Miami Copper . Middle States 10i- Midvale Steel . Missourt Pacific . aoe York 2 eet Y., H., and Hartford . Norfolt and Western Northern Pacfie . Oklahoma prod and Pan American Petroleum. Pennsylvania - 106% 40% 103% being worked on the Gordon Campbell-| pa. Kevin Syndicate well No. 2 which has just been spudded in on the south- west quarter of the southwest quar- ter of section 10-35-3. This well ts an offset to the discov- ery and as the log of the first well will be used to facilitate drilling it ts ex- pected that the bit will hit the pay within forty days, and an effort will be made to complete it inside of four weeks if possible. Lox Out. The Lox Syndicate, composed of Du- luth people, which drilled a hole near Lox station west of Casper last year, Rep. Iron and Steel Royal Dutch, N. Y. Sears Roebuck Binclair Con OU Southern .Pacific Southern Railway Standard Oil of N. J. Studebaker Corporation * Tennessee Copper Texas Co. Texas and Pacific Tobacco Products Transcontinental Ot Union. Pacific United Retail Stor U. 8. Ind. Alcohol .. United States Rubber . 62% 61% 59% Oil Sebeersbishebeees basset: Wind River Refg. United Pete Ww 'yo-Kans o-Tex Western States Yon... NEW Yor cURB CLOSING. Mountain Froducers .§ 14.00 “Merritt - % Cities Service Com. . Fensland . New York s%s First Second 4s. First 4%s .. Second 4%s Third 4Ks Pourth 4%s Victory 4%s .|showed an ext: Big Muddy ---------. Salt Creek Rock Creek strengthened, pi | Of cables thdicating | Germarfy aro likely ¥ der lead of Gulf States and Crucible, but United States Steel was heavy. Fi arrive at an carly agreement regarding German reparations. Pierce Arrow commonaand preferred, At declines of 1 and 2%:(paints, respec. tively were carzied to lowest prives ror the movement for the mdrning. Chin. dier was under further 7 | Studebaker and several strengthen .Many of the independent steels gains. Mexican and an-American Petroleums and General Asphalt were acti and strong but board reacted sharply, American Sugar, Indi Bi Alcohol, g|Tnternational Paper and Mohitana Pow. er featured the miscellanedus list at | Pac: Tel. & gains of.1 to almost 3 po! Were listless, some of tho group failing of quotation 41 hour. cent. Shorts became more aggrpasive at midday, directing thelr operations chiefly to motors and olls. Chandler @ decline of four points; Mexican etroleum reacted. five points and California Peti-oleum, Dupont, Retail Stores, Coca Cj ‘the sirst Call money opened ag ifour per ssu Aavoera Sadly Ges tna sae* 101% Valley, 6s, 1924 .. LaBelle Iron, 68. 1940 .. Jap Gov., 4s, 1931 ... Oey, » Ast, yin 1928: io Tr. & Lt., 6s, i947 N. P. Gt. N. Jt, 6%s, 1931 N+ ¥. Cen., 2013 Sin. Crude Ol, Sol. & Cle, 8s, 1 Union B. A summary of, drilling operations BlG CROWD WITNESSES SHOOTING SUNDAY OF NEW FIVE TRIBES WELL ple, the majority from Casper, were ‘Tribes well on the northeast quarter of section 19-40-78, Salt Creek, was shot for larger production and érill- os te the probable flow at be t and 800 barrels a day. Oi _— thrown high over the derrick by the explosion of 80 quarts of nitro slyceripe. ‘The well was scheduled for shoot- ing during the morning hours but somé difficulty was experienced in Placing the cherge and it was after 7*o'clock Inst evening that the shot was touched off. As a result many of the Casper people who motored to Salt Creek for the affair were caught in the deluge of rain which visited that region, accompanied by a severe electrical display, Test of the new Five Tribes well will be made at once by the Midwest Refining company, following which it will be connected with the pipe- line. Prominent Oil Operator Dead By the C.B.& Q.R.R. MECHANICS *\ND’ HELPERS FOR PIERMA. NENT POSITIC\NS Machinists, bollermakéirs, biack. smiths, sheet metal and) electrical workers, 70c per hour. Helpers for these crafts, : 47c per spectors, 70c per hour. Freight aar repairers and) inspec. tors, 63c per hour, ‘To replace men on strike (against decision of the United States rail. road labor board. Special attention given to: train ing young mea with or without ex. perience :n mechanical worlk: Choice of locations offs who have wanted the op; to locate in the west should ship at once—before these attractive positions are filled. Transportation, board and fodg- ing free. Call on or write to MASTER MECHANIC,, cC.B.&Q. RR. and in. unity PITTSBURGH, Pa., July 24—Col Robert .Walker Guthrie, for many yeirs an outstanding figure in, the business Ife of Pittsburgh and for a time Democratic national committee- man from Pennsylvania, died at hin aged 76 years. Col. Guthrie was prominent in the oll busi- ness and a brother of und late raeieee is cleaning out the hole for further Closing Quotations. United States Steel UNEQUALED VALUES IN won for June shows 327 rigs drilling in the Wee 4 United States Rubber yielded 2, was Osage in Salt Creek. ena ¢ at the time {t was completed but has| Willys Overland. 82.| Canes OF i aaa: ed with new production of $15,995 bar- Bly - = - 11 11t 106% 1.08. | heen standing idle since’ that time. American Zinc, Lead and Sm, 17%] Blk Basin -. ‘ rels. Eleven holes proved dry, and Sept. — — ~ 1.08% 1.08% 1.05% 1.07% J Butte and Superior . 28% | Greybull NEW YORK, July poet 7 bar) ear! wells were completed in “ yee. 1.10 1.10% 1.08% 1.09% Cala Petroleum 6814 | Grass Creek -------—--—--—-- silver 69%; Mexican dollars, 5: sone Edge Test Near Sand. A test is being drilled on the south- Last Soldier. Montana showed eleven new pro- Montana Power 72% | Torchiight ~—-~--------—------- Shattuck Arizona +62 61% 61% 63% 62% 60 59% $1% 31% «31% 88% 33% 33% 36% 36 36% 11.57 11.45 11.67 11.62 11.52 11.62 11.20 11.25 Butter and Eggs. CHICAGO, July 24—Butter unset- ; Creamery extras 33%0; first 29% @32%c; seconds 28 @290; standards 38% @32%o. “Bees lower; receipts 14,110 cases; firsts 19% @20%c; ordinary firsts 18 @18%c; miscellaneous 19@19%c; stor- age packed extras 21% @22c; storage packed first 21c. Potatoes. CHICAGO, July 24.—Potatoes weak- ef receipts 152 cars; total United States shipments 733; eastern shore, Virginia stave barrels Irish cobblers 83:75 @ $3.80; Kansas sacked cobblers $1.65 @ $1.75 cwt.; Kansas early Ohios phorly graded sacked $1.00 @ $1.15 cwt; Minnesota early Ohlos sacked and bulk $1.25 cwt Livestock Mart CHCAGO, July 24—(United States | Bureau of Agricultural Economics)— Cattle receipts $18,000; market slow; b®ef steers steady to weak; early top $10.50. no prime steers sold; bulk beet steers $8.65 @ $10.00; she stock and stockers steady; fat cows and helfers nipstly 5; canhers and cut- tees largely $3.85; bulls strong; bolognas mostly $4.50 @ $4.70; best afound $4.85; veal calves slow; bidding Wenk to lower; fe ales shippers cs outsidders around $9.75, Hogs receipts $45,000; market cane ‘BURLINGTON SURVEYING ective. better grades of light and light butchers Ge to 1c higher; ohters about steady; top $11.00; bull $8.45°@ $10.95; big packers bidding lower on mixed and packing grade: ei $10.25 @ $10. midstly '$9.75 @ $10.25; packers mostly $900 @ $8.75; heavy weight $10.15 @ .55; medium $10.50 @ $10.95. light $10.90 @ $11.00; light Ught $10.45 @ $11.00; packing sows, smoth $8.35 @ $940. packing sows, rough $7.75 @ $8.40; Killing pigs $9.75 @ $10.50. Sheep receipts $23,000; lambs mostly 250 lower; top natives $12.60 to city butchers; $12.25 to packers; culls most- ly. $7.50; choice Idaho lambs $12.75. sheep steady to slow; best handy weight ewes around $7.00; héavies $3.50 @ $4.00; feeder lambs west corner of the northwest quarter of section 32-40-78, Salt Creek, by Schuster Brothers, of Joliet, Ill. The well is standing cemented at 2,100 feet and will be drilled in soon. A preduc- er here will prove considerable addl- tional territory in the field. Dividend Declared. The Weowna Oil and Refining com- pany, located at Winnett, Mont., has declared its initial dividend of five per} cent, or 50c per share, payable August | 1 to stockholdgrs of July 25.—This corporation fs now earning at the rate of about 150 per cent. Arrow to Pay Dividend. The Arrow Ofl and Refining com- pany of Lewistown, Mont, has de clared fts regular semi-annual tiv dend cf atx per cent. At a recent di- rectors’ meeting, Herbert A. Hoover was elected presidunt; H. H. Sch- wartz, Jr., vice president; Eugene De- Mens, secretary and Ed 8. Allen, treasurer. Cat Creek Shipments. Stx hundred cars of Cat Creek crude were shipped from Winnett during the month of June and {f shipping fs main- tained at the point started this month it will mean a total of 175,000 barrels. Sanne BING TENGHES FIELD The survey party of the Barfingten has z’most completed a ‘preliminary survey of a route to Salt Creek hav- ing arrived at that point over the route from Bucknum, and now has a camp established on section 14-89-78, south of the Williams camp. This route enters the field by way of the Williams camp on the west, swinging in east of the gas plant and on to the Midwest home camp. Another survey will be run through east of the escarp- ment and probably several will be put through and the cost of the various routes estimated before the final route is approved. The party ts composed of thirteen bulk good but-/men under the supervision of William ; piss strong,| Albert. <A railroad to Salt Creek now appears lke a strong possibility. pared OS Eh Wyoming Oil News Is Discontinued The subscription Itst of Wyoming Ofl News, published for the past four years at Denver, and one of the best extreme | &dited trade papers in the country, has been taken over by the Inland Oil In- slow tolking around $12.50 for best | 4%, published in Casper, and that pub- Might feeder lambs. Omaha Quota Quotations, (OMAHA, Neb., ics)—Hogs receipts 12,000; 5 aa mixed and packing grades $8@ Sfhulk medium and light, $9.50@10.35; dp. $10.50. { ttle receipts, 8,300; e] “at $10.40; fed cows, $7.50; = ers $8.50; veals steady; top $9; ers and feeders 150 ty 250 lower;| er; top $10.35; bulk §9.25@10. feeders $8. jeep receipts 11,009; lambs most-| ewes $5.00@6.25; spring lambs $11.00@|usunlly high grade at that depth, but leation will be supplied to its readers in the future. July 24. — (United | $12.25; sheep steady; ewe top $7; feed- States Bureau of Agricu!tural Eco-|ers 25c to 50c lower; feeding bulk | $11.75. Donver Prices. DENVER, Colo,, July 24-—Cattlo, re- @6.50. Hogs, recefpts 608;;market 100 high Sheep, receipts none; market steady; x 250 lower; bulk $11.70@12.25; top| 12.25. 9% Great Northern Ore . Chicago & eS a Z CONSOLIDATED ‘TS OPTIMISTIC Semi-Annual Baport ‘Shows Large Earnings, New Holdings Acquired. ‘The semi-annual statement of the Consoli@ated Royalty Ofl company, just issued, Shows that corporation to be in an enviable position and In spite of adverse financial conditions is pre- pared to continuo its payments of dly- idends indefinitely. With the ap- proach of “normalcy” this company, judging from the present outlook, should be in the first rank as a pro- ducer of returns on its investments. The. statement shows that the in- come derived from royalties and from associate companies for the six months period ending June $0, amount- ed to $227,122.64. Two dividends of three per cent paid on outstanding stock during that time amounted ‘9 $234.028.44. New royalties purchased and contracted for in six months amounted to $49,975.00. Cash on hand, in banks, due from associated com- panies and government bonds owned totaled $898,499.31. dent B. B. Brooks, says: “A great many new wells are being Grilled on the lands in which your company holds royalty interests, more especially in the general development of the Salt Creek field. Many of these wells have been completed during the drilling at the present time. The pres- ent drilling of the Salt Creek field is An attached report fssued by prest-| past few months and a great many are| sand well to every 4 ree the Present caratag arrange: ments only approximately one-third of tpe oll is taken from the producing properties. This method of prorating| will doubtless have to continue for many months as additional production is developed. In concluding his report, President iprooks icepenie optimistically of the adds: “I am pleased how- ae rial Be able to report that, not- withstanding the fact that only a small portion of our present produc: tion {s being marketed, the company, even under these adverse conditions is still able to show earnings sufficient to warrant the maintenance of its Present dividend rate.” Midwest Pipeline Department Moved The pipeline department of the Mid- west Refining company has moved into its new quarters in the new office pbuilding recently constructed at Salt Creek. The new quarters ara large and roomy, and will also allow the housing of the guaging department, thus making possible better co-opera- tion among the various departments handling the business of piping, pump- ing, checking and guaging the enor- mous amount of ofl going out of the Salt Creek fiel sete se WYOMING OILS NEW YORK, July 24.—Prices of Wyoming ofls at 2 p. m. today aro |lsted on the New York curb as fol- tows: Boston-Wyoming 74; Fensland 15%; Glenrock 1%; Merrit 946. Producers 1444; restricted to offset wells and one sec- ae 13-16; Salt Creek 15%. northwest of this city, by the with the partial completion of for a distance of only three feet, un- loosed a gas flow estimated at 4,000, 000 cubic feet. This operation is now shut down to see ff the casing will hold the water from above, and if successful, as is now apparent will be completed this -weok when a huge pro- , |\duoer is expected. Holden No. 2 on the northwest quer- ter of section 85-35-84 struck a gas flow at 1,865 fest and casing is now be- {ng wot to drill in. It is expected that good and] ocetpts 4,000; market 250 lower; beet) this well will be completed during the clipice beef steers and she stock fully| steers $7.00@9.00; cows and heffers|present week. feady; other grades grass stock end] §5.00@8.00; oalves $5.00@8.00; bulla] The California On company, drillms DWis 15c to 250 lower; top steers $12;| $2:5004.00; stockers ana feeders $5.00/on the northeast quarter of section 2-84-84, whioh is owned by the Evans }Oll company corporation, has resumed drilling at 1786 fect, This hole de- veloped good oll production of an un- believing that the deeper sands held ANOTHER GAS FIELD OPENED BY PINE MOUNTAIN FIELD STRIKE What promises’ to open up an enormous-gas supply has been developed in the Pine Mountain field, about 25 miles Alaska. Development: company two wells. Holden No. 1 on the northeast quarter of section 85-85-84 cut the sand at 1,665 feet and after penetrating the strata | ® greater output, the hole was cased and drilling continued, The shallow sand will probably’be developed at a later date as it holds groat possiblities. The well being drilled by and associates on scotion 12-84-84 is underreaming to set casing at 2200 fect, ‘A. contract has been, executed with the New York Of] company to purchase | the entire output of gas from ‘this, field as soon ae a of 9,000,000 foet dafly has been jed, and with the completion of the welle now: drill. ing & much groater amount will be forthcoming, As thig field lies be- tween this city and Polson Spider, trom which the present supply js ob- tained, it will only he necessary to! lay a short pipe line to handJe the out: put and all companies operating in that field will benefit ereatiy, Sugar. NEW YORK, July 24.—Sugay fu- tures closed firm, approximate gales -| 45,150 tons; September 3.71; Decanaber 3.84; March 3.57; May, 3.67. ‘There were no changes in reffned sugar but a good inquiry for prompt shipment was reported. Fine grinu- lated is quoted at 6.80 to 6.90. low 3%; ruling rate 14: 34%; call loass against acceptances 3} time loans steady; 60 days asd 90 8%; six mosths 4@4%; prime m tile paper 4@4%. Foreign Exchange Firm. NEW YORK, July 24.—Great Brit- ain demand 4.45%; cables 4.46%; 60) day bills on banks 4.44%. Italy demand 4.66%; cables 4.67. Belgium demand 7.98: cables 7.99. Germany demand .20; cables .20%. Holland (fee, 38.87; cables 38.92. Norway demand 1! Sweden demand 25.95. Denmark demand 21 Switzerland demand 19.07. Spain demand 15.60. Greece demand 3.12. Polané demand .01%. $ Czecho-Slovakia demand 2.18. Argentine demand 36,75. Brazil demand 13.75. Montreal 99 3-32. 4 Metals. NEW YORK, July 24.—Copper steady; electrolytic, spot and futures| 14, ‘Tin firm; spot and-nearby. 32; fu- tures 82.12, Iron strong; No. 1 northern 27@29; No. 2 northern 26@28; No. 2 southern 19@20. . Lead steady; spot 5.70@5.75. Zino firm; Hast St. Louis spot and nearby delivery 5.90. Antimony spet 5@5.25. | 1 | ‘share on the company’s stock. The mills are in Lawrence. ——s ducers totaling 500 barrels of new pro- duction, and three dry holes drilled. Other states of the mountain region report 61 wells drilling and seven com- pletions all ot which were dry. ——————— UNITED CIGAR DIVIDEND. NEW YORK, July 24.—The United Cigar Stores company cf America, to- flay declared dividend of 2 per cent pn the common stock payable Septem- ber 1, This is the first dividend since closing Dld'334; offered at 4; last loan November last when 2 per cent was paid. In 1921 Gividends totalled 13% mm Money. | LONDON, July 24.—Bar silver 5444 per ounce. Money 1% per cent. Tscount rates, short bills andd three rionths bills 1 15-16 @ 2 per cent. et PACIFIO MILLS CUT MELON. \BOSTON, July 24.—The directors of Pacific Mills today declared the hee quarterly dividend of $3 a Lowest Storage In Casper Guetranteed Repair Work. Gas, Oils and Grease. Willis-Hackett Garage Cxurs Sold on Commission 363 S. Ash—Phone 1891W ESSEX ALWAYS | CASPER IN 'A Second ana 7 pip toasted HUDSON WHY NOT? MARMON EVENTUALLY Wyoming Oldsmobile Co- ~G. J. STALMANN, Mgr. 454 East Yellowstone Phone 1963 Advertisement ]O509S00900900d004 James M. Dixon, president 1900-26-000000000004[Political 1 of the Tobacco Products corporation, announced that sufficient stock had been deposited to assure success of * ‘Jian for the obsorption by the cor- poration of the United Retail’ Stores Your future delivery will depend upgn your calling at our officé naw. THE ESSEX CABRIOLET WIEL BE IN FEW DA\YS. Phore 1406 Announcement CANDIDATE FOR SHERIFF I take this means to announces myself as a candi- date for the Republican nomination for Sheriff of Na- trona County. Subject to the will of the voters at the primary, election to be heid August 22. E. W. “BUCK” ELDER. 9O0OO000006600664 (Political Advertisement.) COCO ODOC SOOOOS : ANNOUNCEMENT I hereby announce myself as a candidate for State Representative on the Republican ticket, subject to the will of the voters at the primary election, August 22, 1922. 3 JAMES C. NEILSON It is a misfortune not to be able to-start your car, but it is a calamity not to be able to stop it. Use Multibestos Brake Lining. THEYiomeanonoye (2 wE STRIVE TO PLEAs Building Materials Weare equipped with the stock to supply your wants in high grade lumber ard build- ers’ supplies. Rig timbers-a specialty. KEITH LUMBER CO. Phone 3

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