Casper Daily Tribune Newspaper, July 29, 1922, Page 9

SATURDAY, JULY 29, i522. NMPKET GOSSIP AND FEL OHIO ORILLS IN ONE SMALL One well was completed this week by the Ohio Oil com- pany on section 7-29-78, Salt 2,680 feet. This w.Jl was quite a disappointment as it is only a 25-barrel well ani a big flow was expected, it being situated about half a mile northwest of the Fensland gusher. The company has its Claire Stevenson No. 1 in the Sun- Durst field cemented at 1,820 feet on|local consumers. The remaining cuts section 3-35-2 W. and is undecided 8] will be used for fuel purposes. whether this will be deepened or bridged back to small production in the sand passed through at 1,778 feet. ‘This well 1,000 feet south of the dis- covery was to make a better showing than it has at present which will probably not exceed three barrels yump. tions of the company: * Big Muddy. No. 21 Jones OPC section 10-33-76; rigging up et 1,990 feet. Grass Creek. No. 10 Phelps, section 18-4 3,072 feet. mio 1a LU Sheep, fishing for bit at 3,935 feet. 3 Oe Lance Creek. No. 3 Lamb, section 32-36-€5; under- reaming 6%-inch at 3,270 fest. No. 2 Putnam, section 4-35-65; car- ing 12%4-inch at 1,035 feet. fi: Mule Creek. No. 7 Butte, No. 45, OPC, cemented at 2,190 feet. Salt Creek. No, 1 Tract E, section 7- ted at 2,116 feet. No. 2 Tract B, section 7-39-78; arill- ing at 150 feet. No.1 Tract G, section 17-39: ning §%-inch casing at 2,400 fee! No. 1 ‘Tract ET, section 20-89-78; Grilling at 2,500 feet. No. ii, section 1-89-79; driliing out cement at 1,702 feet. No. 2 Tract O, section 13-89-79; shut down at 2,520 feet. No, 2 Bellview OPC, section 3- 9; cemented at 2,360 feet. Ne, 11 NW% section 27-40-19; ce- mented at 2,190 feet. ‘No. 10, NW% section 27-40-79, drill- ing at 200 feet. - Rock River. No. 1, section 27-20-78; bafling and swabbing at 3,399 feet. ‘ . No. 4 Diamond, section 35-20-78; drilling at 2,195 feet. No, 2 University, drilling at 2,596 feet. No. 2 Trapshooters, section drilling at 1,965 feet. No. 7 State Land, section running 10-inch at 2,175 feet. No. § State Land, section 34 cemented 15%-inch casing at No. 9 State Land, section %: drilling at 300 feet. No. 6 Dixon, section 34-20-78; drilling at 3,095 feet. No. 7 Dixon, section 84-20-78; shut down at 2,005 feet. No. 8 Dixon, section 34-20-78; ce- mented 10-inch at 2,037 feet. Wildcat. section 26-20-78 34-20-78; 34-20-78; Tests, Hidden Dome No. 1, section 81-48-90; cemented at 1,019 feet. O'Brien. Springs, section 2-24-86; Car- bon county, waiting for underreamer. ©'Brien Springs, section 5-24-86; shut down at 3,204 feet. ‘ Rock Springs, section-16-16-104; drill- ing at 2,225 feet. Starces Dome, sections3$61-90; run- ning 65-inch at 1,780 feet. Cleaning out hole 1,780 feet. No. 1 Lemon, Big Wall, Mont., side- tracking 2,800 feet: Big Wall, Mont., section 24-10-26; sidetracking casing at 2,760 feet. Horseshow, Wyo.; section 8-33-81; sidetracking 65-inch at 3,270 feet. Sunburst, Mont. No. 2, Richard Davey, section 3-35 2W; drilling at 1,600 feet. No. 1 W. A. Barr, section 2-85-2W; drilling at 1,100 feet. No. 1 I. Sandon, drilling at 2,000 feet. No. 1 A. Swage, section 84-36-2W; drilling at 450 feet. No. 1 O. Hannon, section 26-36-2W; drilling at 975 feet. Derrick to Start Drilling. ‘The Derrick Of! company, with head- quarters at Douglas, has completed its rig on Bection 14-39-79, Salt Creek and will spud in the first of the week. ‘This test is on one of the “edge” tracts sold last year at Douglas and Is further southwest than any well now drilling in the field. The company has recently redeived additional royalty section 1-85-2W; , checks from ofl sold in the Osage field and has other property which should soon be in the paying class. Torrington Test Abandoned. Casing’ is being pulled at the test of the Centennial Petroleum company ‘on section 17-21-61, twenty miles south of Torrington. This test was started about two years ago and has been the scene of about all the various troubles that an oll well can have, with drilling necessarily slow as a result. The hole has been standing at 3,000 feet. for several months, but it was expectod until recently that it would be carried to a lower depth in an effort to reach the producing sands. The casing will be used in a Salt Creek well. New Company in Field. Producers Oil and Gas company, 4 Salt Creek organization has placed a standard rig in the Spring Valley dis- trict, eighteen miles east of Evanston and will start development on what is said to be a likely looking structure. Cat Creek Test Important. Much interest is being shown in a test started by the Mosby Consolidated . Oll corporation on section 22-15-29 which will determine the possibilities of the south extension of Cat Creek. This location is quite a distance south- west of the second sand gushers, but geological deductions are that the field drains from this direction and that closures are present which warrant its being productive. The producing sand at this location is expected at 1,500 feet. Topping Plant For Kevin. A small topping plant is being built in the Sunburst field: by the Ohio’ Oil company. 6 plant will provide gaso- line for the company’s field carm aad i trucks, the surplug being sold to ether, NEWS ° ° WELL Creek, the sand being cut at Dry Hole To Be Deepencd. The McDonald syndicate which 4ril!- ed a dry hole to the firit sand on toe northeast quarter of section 10-15-29, Cat Creek, has been refinanced and Wil leontinue the test to the second fund in hope of tapping the gusher pro. duction. GRAIN EXPORT DEMAND SLOW Trading Dull and Closes at Weaker Prices on Chi- cago Exchange. CHICAGO, July 29.—Rellef that the end of the railroad strike was in sight aia much strengthen the grain market during the early dealing today. The opening, which varied from % to 1% lower with Sept. $1.07% to $1.08 to December $1.10 to $1.10%, was fol- lowed by a slight general advance al! around, then somewhat of a reaction. There was a lack of export demand and the market became very dull, the closing showing a net decline of % to le, with September $1.07% to $1.08, and December $2.10 to $1.10%. Corn and oats were in sympathy with wheat. After starting a shade to %c @ %c lower, September 63%0 to 63%, the corn market hardened and scored Sight gains all around. Reports of rain in the much needed sections of the corn belt aid much to carry corn values off and the finish showed declines of % to 1%e, with September 62% to 42%. Oats opened unchanged to Ye off With September 34%c to 34%c and held near to the initial range. Higher quotations for hogs served to lift provisions. Closing Quotations. Open. High. Low. Clore. WHEAT— July - - - 110 1.11% 1.10 1.10% Sept. - - - 1.07% 1.08% 1.06% 1.07% Dec, - - - 110 1.10% 1.09% 1.10 CcORN— July - = - 68% 64% 63 63 Sept.- -- 68% 68% .62% 62% Dec. - - = 58% 59% 58% 58% OATS— July - - = 82% .82% 89% .32% Sept. — ~ - .84% 34% .34% 34% . 37% 37) 87H 21.47 11.35 11.42 11.62 11.45 11.50 —_— — 10.15 — — 10.87 Butter, Eggs, and Poultry. July 29.—Butter un- Eggs unchanged, receipts 12,667 cases. Poultry altve higher} fowls 160 @ 21c, broilers 22%0 @ 26c; roosters 18%. Potatves. , CHICAGO, July 29.—Potatoes, firm on barrels:about steady on sacks; re- cepts 33 cars; total United States shipments 652; east short, Virginia cobhlers $2.80@3.10; Kansas sacked cobblers $1.15@1.25 cwt.; early Ohios sacked 75@850 cwt.; Minnesota sacked and’bulk early Ohios $1.00@1.10 cwt. ——.—____ BUTTER PRICES WEAKEN - QN LARGER AECEIPTS CHICAGO, July 29.—tIncreasing ac- cumulations of butter brought about extremely weak. market conditions but the demands of speculative interests brought about a reaction-toward the end of the week, says tho weekly re port of the United States Bureau of Agricultural Economics for the ‘week ending today. . Because of a curtailed demand for storage, the report continues, receiv ers have burdened practically since July 1 with heavy accumula tions. When consuming outlets faile: to relieve the situation, dealers dur ing the week slashed prices and man aged to clear away part of the ac Allied Chemical & Dye . Allis, New York Stocks Associated Prens Leased Wire, Chalmers . Illinois Central Inspiration Copper . Internationg] Harvester Int’ Mer Marine pfd. . International Paper . Invincible Oil ..... Kelly Springfieid Kennecott Copper Louisville and Nash Mexican Petroleum Pan American Pennsylvania Petroleum Rep. Iron and Steel . Royal Dutch, N, Y. Sears Roebuck .. Sinclair Con. il Southern Pacific Southern Railway . 25% Standard Ol of N. J. ++ 180% Studebaker Corporation 180 Tennessee Copper - 10% Texas Co . 46% 208 78% Transcontinental Oil 14% Union Pacific ..... ++ 148% United Retail Stores . 62% U 8. Ind. Alcohol .. 63% United States Rubber . 59 United States Steel 100% B Jtah Copper ...... oe 65% Westinghouse Electri 62 Willys Overland By American Zine, Lead and Sm, 18B Butte and Superior 30% Cala. Petroleum 60 Montana Power 72 Shattuck Arizona MB Great Northern Ore . 40 Chicago and Northwestern 17 tinued to influence operations of that period, but a better ton: that a settlement of the country-wide labor difficulties was in sight. Further curtailment of production in several of the important industries re- sulted from the increasifig shortage of coal, but the better state of the steel trade was shown in the quarterly re- ports of the United States and Beth- Jehem Steel corporation. - Railroad earnings for June were generally favorable, there being few exceptions to reduced operating ex- penses and increased net returns. Car- loading figures for the second week of the strike showed: that the railroads were effoctually meeting the strike emergency. the Mia ie Reliable data dealing with the gener- al business situation again emphasized hesitant tone on the part of buyers in leading lines of merchandiss but-this was acribed largely to backward sea- sonal conditions. Abundance of money in the local market caused further easing of rates for time funds. Most of the short ma- turities were placed at 3% per cent but loans extending into next year ranged from 4 to 4% per cent with a four per cent rate for high grade mer. cantile paper. Foreign exchange was hardly a mar- ket factor. although the question of German reparations caused fresh de- camulations. The lower prices, how- ever, brought a keen speculative in- teres’, anc prices reacted to a, higher leve.. With higher prices, buyers agein ;ppeared and the market be came very unsettled. 4 WHEAT PRICES SLUMP DURING WEEK IN FACE OF EXPORT SALE CHICAGO, July 29.—Notwithstanding-enormous export business, wheat has gone down.in price this week as a result of the new winter crops being pressed forward in greater volume than the market could absorb. week ago, wheat this morning off % to 1% to 1%, oats showing % to isc decline and provisions at a setback of 7 cents to 30 cents. ‘With speculative buying of wheat restricted to nearly the vanishing point and with primary receipts ewol- len at times to almost double the ag- gregate for last year’s corresponding period, the burde non the market ap- peared to be too heavy!to prevent at least a moderate descent of values.. Exporters systematically awaited de- eiines and on a single day took as much as four million bushels without causing prices to develop any unus- ual strength. One of the most bearish elements of Compared with ‘a was 114 to 2%c lower, corn the situation was the difficulty of got ting:an attractive offer on wheat for deferred shipment. Owing to the rail and coal strikes, buyers displayed ex- treme reluctance to assume risk of delay'in delivery. Toward the end of the week notice was taken of opinions that a settlement of the strikes would so stimulate general business ns to be a bullish instead of a bearislr factor in wheat. , , Corn and oats:recedéd with wheat and touched new low record prices for the season. Ss Provisions were affected by grain weakness and by a break in Liverpool quotations for lard. PROFESSIONAL INTERESTS ARE PROMINENT IN STOCK TRADING NEW YORK, July 29.—The coal and railroad strikes con- professional interests contributing a large percentage of the total dealings. Prices were inclined to ease in the first half Western Oj! Fields Western States 3 NEW York CURB CLOSING. a Mountain Producers .$ 14.12 $ 14.37 Merritt ... 8.75 9.25 Glenrock Oil 1.06 Salt Creek Pras 15.12 Salt Creek Cons. 11.26 Prod. and Refrs. .... 7.00 1 100.80 | 00.78 101.62 Crude Market SS —__—__ ae Mule Creek ------. $ .85__ Big Muddy ---. 20; Salt Creek --------------—---- 9) Rock Creek ~------------------ 1.00 Osage ~----------------------- 1.40 Lander 37% Lance Creek ---—---—-------- 1.40 Elk Basin ------~-----——-—-- 1.40 Greybull -- nena anne 1:40 Grass Creek ~---.---------——--- 1.40 Torchlight 1.40 Hamilton -. 90 Cat Creek ~-----.-----—---—--- 1.40 ——— ‘Women are candidates for public office in 25 Missouri counties which will hold primaries next month. in the stock market this week, e ruled than when it appeared moralization in marks, that currency falling to a new low record. pst CASING HEAD GKS 15 GIVEN BOOST BY PLAN FOR SALT GREEK AAD HH. H. Schwartz returned to Casper yesterday from a four weeks’ business trip tn the Mid-Continent field and the east. He advises that the adver- tised intention to bulld a railroad from Bucknam to Salt Creek has cre- ated active interest among Casing Head Gas people who believe that the building of the road may furnish transportation outlet for casing head gasoline manufactured on the ground in Balt Creek. Some of these con- cerns whose operating plants and general business and financial’ stand- ing were investigated by Mr. Schwartz} have tendered contracts to producers} in Salt Creek offering to pay a roy- alty of 33 1-3 per cent om all gasoline extracted and to return the dry-gas to the producer’s lease free of charge. In the event the raflroad is built there will undoubtedly be various es- tablished concerns seeking casing head gas contracts and as the Salt Creek gas will supply from four to| eight gallons per thousand cubio feet and the expense-of extraction is not great it istthe.opinion of Mr. Schwartz that @ very’ considerable revenue may be obt ed by some of'the Salt Creek operators either through installation of plants of thir own or under casing | head gas contracts which will com- mand at least the royalty now being offered. German Marks Reach New Low| NEW YORK, July 29—pxtremo| demoralization was shown by German exchange today, the mark, falling to 15% cents a hundred,.the lowest quo- tation ever recorded here. ‘This repre-| sented an over-night dectine of almost two cents a hundred. The.normal, or| pre-war price of the-mark was 23.§/ cents éach. Disappointment.over a delay in the settiement.of the reparations question together with the troubled state of he| German domesttc situation, are be- Meved to be responsible for the further * depreciation. | Opening prices were mainly higher | under the tmpetus of a renewed de- OILS STRONG IN SHORT SESSION Mexican Petroleum Leads Trading on the New York Exchange. NEW YORK, July 20—-Mixed cond!- tions ruled in today’s stock market mand for rails and some of the fuxvor ite industrials, where gains ran from 1 to 2% points. Oils expecially Mex- ican Petroleum also were strong, with the resumption of the recent buying ot high class equipments. To! \ chemicalsand rubbers moved to high- er ground. Motors were the uncertain features, Studebaker reacting sharply from its early rise of almost 2 points. Atlantic Gulf also showed recurrent selling pressure. The close was firm. Sales approximated 300,000 shares. NEW YORK, July 29.—Further cor. ering of short contracts attributed to favorable overnight developments in the strike situafion was noted at the opening of today’s stock market gains ranging from liberal fractions to al- most two points in the early dealings. Rails dominated the advance under the leadership of Union Pacific whict rose 1% points. Crucible led the steels at a gain of one point. Stude-|> baker opened strong but soon can celled most of its gain. Minor reces- sions were made by Baltimore and Ohio, Cuban Cane and American Car. A further collapse in G nm marks to 15% cents a hundred, the lowest price yet recorded, indicated the in- creased concern felt here regarding financial conditions in Germany. Forelgn Exchange, Zasy. NEW YORK, July 29.—Great Brit-| ain demand 4.44%; cables 4.44%; 60) day bills on banks 4.42%. France demand 8.15%; cables 8-16. Italy demand 4.57; cables 4.57%. Belgium demand 7.72%; cabl Germany demand .15%; cables Gegmazy, demand 304: nies 208. IPT OR-WYOMI DEVELOPMENT PROGRAM At the annual meeting of the Victor. Wyoming Of! company, held yesterday afternoon at the local offices of the company it was decided to start an ag: gressive development campaign of the company’s property in addition to the test now ready to be made in the Bates NEW YORK, July 29.—Foreign bar| Hole district. ‘This company holds title to about 5,000 acres in this state most of which is proved and the balance being tested. It also has 1500 acres in Elk county, Kansas, which has production on all sides up to the lease lines. A well wilt be drilled on this acreage starting itn mediately and the company expects to have two producers completed by fall. At tho election of officers, Johnston was voted president; Geo. W. condition of the clearing house banks|Jarvis, secretary and resident mana- and trust companies for the week/ger; E. A. Jackson of the United Live Norway demand 17.15. Sweden demand 26.10 Denmark demand 21.59. Switzerland demand 19.05. Spain demand 15.55. Greece demand 3.10. Poiand demand .01%. Crecho-Slovakia demand 2.27. Argontine demand 36.65. Brazil demand 13.70. Montreal 99 7-16. Silver, silver 69%; Mexican dollars 52%c. London Money. London, July 29.—Bar silver 35144 per ounce. MBoney 1% per cent. Dis. count rates short bills 1% @ 1 3-16 per cent; three months bills 1 1316 @ % per cent. Bank Reserves Decline. NEW YORK, July 29.—The actual Queensiand, 6s, 1947 Queensland 6s 1947 Seine 7s, Sin. Crude OU, 5%: Sol. & Cle, 92" Southern Ry.. | 8, W. Bell Tel., Union B. & P. So NG PLANS 925. 103% 37 + ls 1927 . 6%s, 1956 7a, 1925 .. 1940 105% 100% 105% 119% 103% 103% 95% 97% A. Cc shows that they hold $39,625,500 in ex-| Stock Bank at Des Moines, treasurer. cess of legal requirements. This is a/The above and Noah Williams, const!- decrease of $4,257,220 from last week.'tute the board of directors. A Goal Worth Working For A comfortable home for oneself and: fam- ily—what more could an industrious, far- seeing American desire? Millions of happy home owners credit their achievement to growing savings accounts —a sure and safe way to financial inde- pendence and all that is worth while in life. People of experience know that those who save live better and have more. Join the ranks of the care-free by opening an account here today. Be CITIZENS NATIONAL BANK CASPER, WYO. Oil Exchange Building é HAY GRAIN Dairy and Chicken Feeds, Oil Meal, Stock Salt. Car lots a specialty. CASPER STORAGE CO. 313 W. Midwest Ave. a a $O000000000060066 (Political Advertisement.) $0600000000000000 Announcement I hereby announce myself as a candidate for the Democratic nomination for the office of County and Prosecuting Attorney of Natrona County, subject to the will of the voters at the primaries August 22, 1922. Embree H. Foster CHICAGO, July 29—(United States Bureau of Agricultural Economies).— Cattle, receipts 1,500; compared with week ago: Beef stesra 10 to 250 low- er, grassers showing most decline; top beef steers for week $10.80; top year! ings $10.60; she stock practically un. changed; in-between grades beet cows and heifers weak; canners strong: bulls largely 25c lower; veal calves 25 to 50c higher; week's bulk prices beef steers $5.50@10.00; stoc and feed ers $5.50@6.50; butcher she stock &f.00 @7.25; canners and cutters $3.00@3 7E; veal calves $9.25@9.75 Hogs, recetpts 6,500; closing mostly 10 to 16e lower than early, or about steady to 2c lower than Friday's av. erage top, $10.60 early; practical top late $10.40; bulk $8.10@10.40; bulk good chers $9.75@10.40; mixed and Packing hogs 10 to 16¢ lower than Friday's good time. Yoldover moder ate; pigs dull, heavy $9.60@10.10; med. tum $10.00@10.40; light $10.35@10.50 Ught Nght $10.25@10.40; packing sows. smooth $8.00@8.65; packing suws rough $7.5 3 kit nope! $7.60@8.10; Killing pigs $9.50@ Sheep receipts 1,000; market steady compared with weak ago: Fat native lambs strong to 250: higher; westerns steady to 15¢ lower; cull natives 50c higher; ght sheep steady; heavies 25 500 lower; feeder Iams 35 to 50c wer; week's buik prices native lambs $12.00 12.60; western $12.50@ 12.85. fat ewes $3.50@7.00; feeder lambs $11.69@12.30; cull native lambs $8.00@ 8.50. Omaha Quotations, OMAHA, Neb., July 29.—(Untted States Bureau of Agreultural Econom- ics)—Hogs, receipts 9,000; mostl: I take this means to a State Senator on the Repu will of the voters at the p 1922. Tam against the repeal PAGE NINE steady to 100 higher; mixed and pack- ing grades general steady; top $19.15 bulk of sales $7.50@10.00. Cattle, receipts 200; compared with : Good and choice fed steers ock steady to 25c lower; in between kind and common grassers 25 25 to 50c lower; stockers and feeders 50c@$1.00 lower; canners and cutters steady; veals steady to 25c lower bulk 0 50c liwer: stockers and feeders 50c@ $1.00 lower. . Feceipts 200; compared with a week ago; lambs steady to 18¢ high- er; sheep 25 to 50c lower on heavy grades; others about steady; feeders weak to 25c lower. Denver Prices. DENVER, Crio, July 29—Cattle, receipts 89; market steady; beef steers $7.00@9.00; cows and heifers $5.76@ 8.50; calves $6.00@9.00; bulls $2.50@ 4.50; stockers and feeders $5.00@6.25. Hogs, receipts 298; market 250 high- er; top $10.00; bulk $9.75@9.85. Sheep, recetpts none; marhat steady: ewes $6.0006.50; spring lambs $11.00 @12.00. etches aaa NEW YORK, July 29.—Prices of Wyoming olls 2 p. m. today were sted on the New York curb as fol low: Boston-Wyoming 80; Fensland 14% Glenrock 1%; Mountain Prsduoees 14%; Mutual 9; Omar 1% — Meet me at the Smoke House Lowest Storage In Casper Guaranteed Repair Work. Gas, Oils and Grease. Willis-Hackett Garage Cars Sold on Commission (Potitical Advertisement, Political Announcement 363 S. Ash—Phone 1891W i mnounce my candidacy for blican ticket, subject to the rimary election, August 22, of the Direct Primary‘Law. J. E. Frisby Big Pre-inventory Sale On Electric a YO? Fixtures WOCCT(S CH = war prices. complete and prices at ro: Greatest Price Reduction We Have Ever Offered. Replace those old fixtures now at lower than pre- Buy for that new house now while the selection is ck bottom. NATRONA POWER CO. “At Your Service—Always” PHONE 69 RIG TIMBERS THE NICOLAYSEN LUMBER CO. Everything in Building Material A SPECIALTY FARM MACHINERY, WAGONS Office and Yard—First and Center Phone 62