Casper Daily Tribune Newspaper, October 24, 1922, Page 7

TUESDAY, OCTOBER 24, 1922. ESTIGOILS WHEAT CLIMES | ARE DEPRESSED, ON EARLY SALES Heavy Sales Resumed in Many Issues at Opening of Market Today. Bullish Inflvence at Chicago Exerted by Higher Prices at Liverpool. CHICAGO, Qct. 24, — Uneasiness over European financial conditions led NEW YORK, Oct. 24.—Forced tiqui-}to a sharp descent of prices in the dation and a renewal of bear pressure | wheat market tosard the en against certain high price@ industrial! hoard of trade se,4é:. Spzer stocks, caused , another material re cession in quoted values in the early | peg counted also as a depressings fs Weak: | or* here. ness of ¢oreign exchange anu further) %c to 1Kc net decine, part of today’s stock market depression of bond prices contributed to bearis:. sentiment. Goof buying <upport eame into the markvt later snd closing prices generally were around the best levels o the fay. Sales approximated. 925,000 shares. BW YORK, Oct, 24—Irreyular imovements took place at the opening of today’s stock market with a continuation of yesterday's selling} Possibility, equipment and domestic Ui] man governmeit would declare Foreign oils, food, merchan-}— pankruptcy policy tended to handi_ proved IN} cap bulls. shares dising and tobacco shares i tone. One thousand shares of Mex- tean Petroleum wer® sold at the open ing at 235, up 5% and a new high] s1 418) an record for the year. The Pan-Amer. can shares moved tip more than 2% poin' each on overnight anrounce- ment of extra dividend disbursements. Mexican Petroleum Jewel Tea common and preferred were pushed up 1 and 8 po'uts respect vely ana American ‘lobacco and Con- solidated Cigur each moved up over & point. Other strong spots were Gen- eral American Tank, Consolidated Gas and Iron Products. Standard Oil of California receded 2% points and Pa- cific Ol! and Sinclair also were weak. Losses were registered by Studebaker, Chalmers. Baldwin, Railway Steel 3 of the ing op- erations betweén Cicigo and Winn! ‘The close was unseltio< 1.09% to 1.00% 1.10%. and CHICAGO atght the early, dealings. Higher quota. tions at Liverpool was a bullish in. fluence, and there were also reports that milly had bought wheat here at the best premium on ahe 1922 orop. however, that’ the Ger- tor Met. 24.—Wheat had @ upward tendency today during The opening which var- fed from unchanged figures to 4c lagher, with December $1,11% to May $1.11% to $1.12, was foliowed by 3 slight sag and then by mederate gains all around. Trrices held within narrow until about noon, but then underwent fell back to 23015 |g decided’ setback, accompanied by: in in the first half hour and Pan-Amer-|©.cesea eciiing pressure. a , fean A and B reacted in sympathy.) o¢ buying order sure an absence Seareity “uf. offerings’ gave inde. pendent firmness to corn and oats: After opening %o to %O higher, De- cember 6644 to 66%%c. the corn mar_ ket eased Cown a little but then scored decided general gains. At the last corn turned weak in sympathy with wheat. The close was heavy at % to Ite net delicine, Dc cember 65% to 65%. Oats started 4c to %c higher, Spring, Atlantic Coast Line and Corn| py comper die to 41%e and later Products. Initial bullish” efforts in stocks were temporarily abandoned special! § Provisions continued to advance. were “iteglected and showed a downw*rd “endency In line when the pressure of offerings became} with the hog marnucs. too great, following indicatione of forced selling in some of the leaders. Investment and speculative shared alfxe In the dectine, which ranged from one to five points below last night's final figures in a num: | july stocks | wHEAT— ber of active Issues Individual-weak | conN— spots were National Biscuit, United Fruit, Liggett and Myers, Standard Ou of California, Corn Producte, American Car and American Express. | oa TS— all down 3 points or more. Partial recovery set in following the sharp) May bidding up of Reading and American Can and the appearance of better buy- ing support for Baldwin, Studebaker and Corn Products but @ renewed +ie- cline in Mexican Petroleum to 229, carrying it % of a poin below yestor- day's closing and ‘a drop of 16 points in Central Raflroad of New Jersey, prevoked fresh selling from specula- tive sources. Call money opened at 4% per cent. Temporary exhaustion of the selling pressure in Mexican Petroleum which Open. High. Low. Civ ae ee = L11% 112. 1.08% 1.00% May — — — 1.11% 1.12% 1.10% 1.10% = = = L043 1.04% 1.03 103% Dec. - - - .66% May — -- 67% July - - - 87% Dec, = — -' 41% ana AB July - - = .39% "LARD— Hote. h Jan: 24. RIBS— Oct. - 10.50 POTATOES ~- CHICAGO, Oct. 24.—Potatoes weak rallied to 232% caused speculators to|on bulk stock, steady on good stock lean to the buying side for an interval| receipts 151 curs; total United States in the early afternoon. Royal Putch,| shipments 1266; Wisconsin sacked Marine preferred, United States Real-| round whites. 90@1.00 cwt; ditto bulk ty and Manhattan Shirt improved sub-}90@90 cwt; Minnesota bulk round stantially and many of the better known shares moved up a point or more above the low figures of the morning. Fresh offerings of Mexican | Petroleum was marketed afterwards and the price ran off to the previous low level which halted the rallying tendency of the balance of the list. Several sharp breaks occurred among the specialties, Porto Rican Tobaccos losing seven points, Davison Chemical three to. a new low level for the year and Union Tank 2%, The closing was firm. Prices of standard shares moved steadily higher in the flygl hour under the impetus of extensi™ short cover-| ing and special buying in a few se-| lected issues, notably Continental Can} and Marine preferred. Kresge and) Plerce-Arrow preferred were under heavy pressure, each dropping more! than 4 points. | Foreign Exchange NEW YORK. Oct. 24.—-Foreign ex- change easy; Great Britain demand 4.44; cables 4.44%: 60 day bills on banks 4.41 15-16. France demand. 7.07%; cables 7.08.) Italy demand-4.02;- cables 4.02%. | Beigium demand 6.49; cables 6.49% Germany demand .02%@; cables .02 3.48. Holland demand 29.04; cables 39.10. | Norway demand 17.91. Sweden demand 26.68, Denmark demand 20.07. Switzerland demand 18. Spain demand. 15.28. Greece demand 2.00. Poland deman .01. Czecho-Slovakia demand i i Argentine demand 36.00. | 2 Brazil demand 11 Montreal 100 5-3: | Receipts | packers talking lowe! jopening fully steady; early top $14.50) jlook about steady; whites 75@90 cwt; Minnesota sacked river Ohics 1.05@1.10; cwt; North Da- kota bulk Red river Ohios 1,00@1.05 cwt; South Dakota bulk round whites No. 1, 75@90 cwt; South Dakota bulk early Ghios No, *, 90k95 cwt. Live Stock Chicago Price: CHICAGO, Oct. 24.—(United Stat»: Department of Agriculture.}—Hogs 29,000; market around 1 than Monday’s everage; big bulk 160 to 200 pound averages $9.25@9.40; few good 210 to 240-pound butchers $9,45@9. top $9.55 early; bulk pecking sows $7.75@8.40; pige mostly $3@9.25; heavy medium $9,409.59: lower smooth, $7.90@8.6 3, rought, $7.60@8; killing Cattle—Receipts 14,000; slow. gene ally steady on all classes; quality of native beef steers rather plain; being short fed kind foremost part. Early top long yearlings $12.50; others held above $13; bulk native beef steersof quality and condition to sell at $9.50@ supply of western grassers moder- Uttle done early; veal calves to ‘strong; improved quality : stockers and feeders steady | to weak; bulk desirable bolpgna bulls $.15@4.25; ‘bulk desirable veal calves early $1111.25; to packers, bulk beet cows and heinfers $4.25@7.50; bulk stockers and feeders $6.25@7. Sheep—Receipts 20,000; native lambs to city butchers: $14.50 to packel early sales fat western lambs at $14, dest held higha: one deck 85-pound yearling wethers $12.50; fed western lambs averaginz $16 pounds $14; few salen feeding Oil Securities Farnished by Taylor and Clay. Big Indian Blackstone Salt Creek Black ‘ail ar Chappell - 40 Columbine -. As Conosolidated Royalty 1.18 tol Pete man ol Gulch Domino Elkhorn » — &. T. Williams ~ Jupiter Lance Cree! Mike Henry Mountain & Gulf. Outw Red Picardy Preston Royalty ‘& Produ Tom Rell Royalty Western Explcration. .24 Unite, Pete m Wyo-Kans, Wyo. Tex. ~ ‘Western States Y on NEW YORK CURG Prodicer: Mountair La 19.00 11.75 11.09 Marine, new Mutual .- ) 8. O. Indiana 124.00’ Cities Service Com. -.197 199.00 Fenstand a -14 5.6) ew York Oi 00 Mammoth Ol! — 41.87 LIBERTY BONDS. 34a -- 101,10 Ist 4%s - 95.86 ind 4% - 98.62 trd 4Ne ~ 93.98 ath 44s - 93.88 ist 4n 98,50 Vietory 4%5 100.20 0. f Crude Market Hamilton Cat Creek Mule Croek tig Muddy Salt Creek Rock Creek Osage Lance Creek Elk Basin FROM HEAVIER GASOLINE That gasoline considerably heavy ind less volatile than the grade now n general use wil! produce practical ly the same- automobile mileage per gallon is shown by tests’ made under Sovernmen; auspices fo determine what is th best motor fuel for the average automobile. Four typical automobiles, represent ng nearly cent of all passenger cars on the road, were selected for the tests which wére made by the Sureau. of Standards at Wash'ngton, with the co-peration of the America: Petroleum | Institute, the Socicty of Automotive Engineers and the Na tonal Automobile Chamber of Com- merce. The schedule of tests repre sented as nearly as possible, all of the it'ons of operation to wihch the average passenger car is subjected tn service, It was dernons.cated that In spite of the fact that the pi industry has been compélied to make increasingly heavy fuel in order to meet the demand, the lessened volatility of commerciat gas cline has net only not affected the mileage per gallon, but that even heavics, fuel will produce results’ just @s watisfactor) With the constantly increasing num- ber of automobiles in use and the con- sequent growth of demand for motor fuel, the itcessity of obtaining an in creased gasoline yield from erude pe: troleum will be appreciated when it is considered that the greater the rleld. the lower the cost of production d therefore, the price to the con- sumer, The tests are being continued to de- terming ‘f the heavier grades of gaso- line will produce the same results in winter andialso whether the tendency of the heayler grades to dilute crank case lubricants is too great to com- pensate for the more abundant sup- [pty of fuel. Tn. view of the results thus far achieved, however, it is believed that any such subsidiary preblems as: re. main will be readfly solved by the co- Operative effurts of oil and automotive engineers. . —_——_—_ whale has very little sense of taste. { et -:- Finance -:- Bonds is 5 New York Stocks. Associated Press Leased Wire. Allfed Chemica! & Dye— $3% Allis-Chalmers .-..-. -* 47% American Beet Sugar a 42 American American @ar & Foundr: - 16 American Hide & Leather pfd 72% American International Corp-- 33% Amcrican L-zomotive ------- 128% American Smelting & Refs American. Sugar - American Sumatra Tobacco B _ 374% American T. & T. 122% American 160% American 29% Anaconda ns Atchison Ath, Guilt & W 2 Baldwin Locomotive - “137 's Baltimore & Onio - 53% ethiehem Steel B 73%) nadian Pacific - ~ 146 ntral Leather 393 “cer Motors - ery Shesapeake & Obi a 4 “hicago, Milwaukee P... % thicago. R. J. & Pec - 44% hino ¢ re <= Sih ‘ojorado Fuel & Iron 30% orn Products. ~ 12s? “rueible Goodrich Co. Great Northern, Central pfa ration Copper _ 36% Internat'onal Harve: 107% Inte Mer. Marine p: - 33% International Paper Invincible On - Kels-Sprinti Kennecott C uisville & Mexican Petroleum 4 Miam! Copper ---- Middle Stztes Olt Midvaic Steel Missourl Pacific New York Central N. ¥.. N. H,, and Hartford Norfolls & Western Northern Pacific Okishoma Prod. & Ref. Pi ie Oi American Pennsylvania People’s Gas lure OU - a e _ Ray Consolidated Copper Reading Rep. Iron & Bteel Hoysl Dutch, N. Searm Roebuck 3Inelair Con, Oil ieuthern Pacific 99 Southern Raliway tes fted Stotes Rubb: Texas & Pacific ‘tundard Oot N bade Con a - Yhicago & “North Western Maxwell Motors B Studeb: Corporat’on er Tennnessee Copper onsplidated Ges tremt Unton Northern Ore Pacific rontinents! Oil Retail Stores -- States Steel Copper .- Ind. Alcohol Shattuck Arirona B - talon. Petroleum Montana Power tutte and Superior —_--- 32% }‘estinghouse Electric ———-- 61% Willys Overland 6% \tevrican Zine, Lead and Sm__ 18% Tobacco Products -_—- = 83% LOST SOLDIER EPORTS 4,000 | DARREL GUSHER Although it has # huge tongue, the (tras 26@26%¢; refrigerator firets Tt is reported that the Good & Nut ting well which has Seen standing with the casing nearly full of ofl for some time was drilled into the first Wall Creek yesterday with a flow of! 4,000 barcets resulting. ‘This well, which is Iocated on sec tlon 34-26-90 in the extreme north eni of the Lost Soldier field and less than a mile from the §080barrel producer of the Hughes Olf company recent! completed. ‘The sand was found at 2,100 feet, which is 100 feet shallower than it was expected and proves a large amount of acreage to be highly Productive which at one time was dis. carded by geologists as being outside! the producing areca. These new weils have stimulated In-} that district resulting in a} terest in demand for acreage and will also mean further development. The recently acqujred lease of the Anna-Belle Wyo ming Oil company adjoins the lease on which this well was completed and places it In a strong position. Sus Mia een Butter and Eggs CHICAGO, Oct. 24.—Butter unset- tled; creamery extras 450; firsts 36@ 390; extra firsts 41@48%%c; seconds 34 @35o0; standards 49%c. Eges unsettled: receipts 6,056 case: firsts 32@39c; ordinary firsts 28@30c miscellaneous 30@35c; refrigerator ex- @25 te. Fe Seta. SR cl AND QUOTATIONS BY LEASED ,|the big gusher recently completed by PAGE SEVEN tocks -:- Grains -:- Livestock -:- All Markets | MARKET GOSSIP AND FIELD NEWS GENTAAL PIPELINE DELIVERS Cll crude having arrived here from Salt Creek late is flowing into the storage tanks of the Texac company east of the city. t The supply is obtained from the output of the E. T. Wil- | liams Oil company and other independents operating in that tanks with t hal f *depeneant carrier, that being at prea (be used for the storing c ene handled by the Western the first the balance for ined being| The company from the field through Vine and ow idistrict and js the first independent | tioni orage loll to reach this city through an in-/of 36,000 barrels. capa hw rude ar oda th lof which arrived here Sunday nsports lowned by Midwest Interests A part of this off will be us ¢ Texas company, part will ¢ the Omaha, purci at azed refinery some time ago by Williams interes ~ and the Independent, Buying com. Financial Notes pany also has an agreement to handle) Ce ned $6,18 5 be | the art of the production which will to ‘outside poin = in dends per pares w same Anna Bell Acquires Lease. on $9 acres in the Lost Sol | dler field, being the south half of tho southeast quarter of section 26-90, | jhas just been secured the Anna Rell Wyoming Of company according ‘to an anncuncement made by Presi dent W. E. Patton. Thic lease adjoins that of the Good |& Nutting company which has a hole |full of off and {s just a mile from & Producers Refiners © Its regular quarter! Leslie Urqua Rus Asiati agreemen of the that the ‘government wil Anglo Russtan lishe dto which B have term million do | the Hughes Oil company. It is also near ‘the 3,200-barre! well of the Bair ON company and-all indications are |that it will-be ‘highly productive It is expected that material wil! be hauled to this loase early in the jcoming month an‘ a test started im | mediately. . The hole should be com | pleted in a short time as the producing! be ratified and The government i ing $23,520,000 fre sand lays at about 2,000 feet in that! ember banks district. trtet. It has become necessary to run eta 6%!nch casing In the Pickett Lake! . # > le, being dritied by the company,|_Resinald McKenna, former char owing to caves at the bottom of the | Cellor of the British exchequer, urges hole. As soon as this is completed |‘? apes piri cacauminicnmatenr te the well will be drilled in and large | ment In order to establish financial re I be ‘drilled in and. large | eens, McKenna may head the Brit production is confidently expected to result |ieh debt funding mission to the United States instead rt who was char Homestake Strikes Gas. | George. The Homestake Oi! company has} struck a gas flow aid to be of one! Atcninson’s loadings last million cubic feet output on the north-|_ new high record with i Horne { east quarter of gection 6-32-33 inthe against 36,337 for the prev Bowdo'n dome in Montana. The test} and 34,04) a r ago. was high on the structure, having} — been -apotted: by: Geolog:st Collier of) - 4" shortage of labor reported te tho U. S. Geological Survey who map-!) 4) “ | ye almost. univers ped and recommended the drilling of ian Ithe structure. The flow was tapped| p 2 jin the Frontier formation at a com-| Chancellor Wirth Invhis Reichstag | speech. today will expose economic {paratively shallow epth. The output will be used for fuel purposes by other companies drilling on the structure. | [situation in Germany and is expected to declare that it will be impossible to make further reparations whether in |cash, kind services or any other form Gasolne Production Increased. | Jn order to supply the constantly increasing demand for gasoline it has| been necessary for the oil industry>to perfect improvements in refining proc eases which would result in a greater! Governor Harding of the federal re- yleld of gasoline per barrel of crude/ serve board is slated to head the fin oll. Jancial mission to Cuba which will be Thus, in’ the early days of the auto: /gent to assist the’ Cuban government mobile, the average yield of commer-|in its financial problems, according Rumania is preparing to send a debt commission to the United States. { Oil is now running throvgh the-Central pipeline, the rst} ; vesteday ' celal gasoline from crude cl! was not to New York rep more than 11 per cent, while today it is about 26 per cent. | ei SP PN EES an-Americ! sleum off 000 gallons of gasoline were produced | Stevican Potroteurs co $ barrels of crude oil. In 1920 4,8 | Mexican Petroleum common and 1 1-10 “i shares of “E" stock for one share of ro 00 | J debe cn raerasmmelaae ae 000) vtexican Petroleum preferred. Thi« 402 bs is open from Oct. 26 to Noy. In other words, with an increase | ji iatten A roars tor Moyes of only 142 per cent in the production 7; aa aa of crude petroleum, the ol industry | produced 804 per cent more gagoline.| A 25 per cent stock dvidend has Refining Plant Enlarged. ‘There is tots of activity in the Osage field with no. sign, of a shut down for; the winter months apparent according | to A. F. Leslie, formerly of this city | | i} but now general manager of the Uni-/ ted States Q!l & Refining company Osage. who is here for a few days 3 tending to business matters. The refining company {s running| 500 barrelr of oi! daily at its\plant and/ and is fifding a ready market for its! |products. This plant has been bult| to its present size from an original: one-atill proposition and as the field | continues to develop this will be en |larged ‘The | | i AT YOUR JPPLY “STC company is now erecting ad PROMOTERS Of Oil and Industrial | Enterprises ADVERTISING is an absolute necessity for { the successful presentation of vour proposition to the public. notes 931 1923 The of Belgium Tis mn of Belgium ,és — Armour & Co., #%= -._- Baltimore & Ohio cv. 4143 4 82% : ethichem Steel ref. Se --- . s 97% Be Steel p. m. § : . a 93% ° ‘ ‘ : at Northern ; t Northern wckawanna souri, Kan ‘ {issourl Pact ang Pow New York Centr 2 103% . ern Pacifte pr. 1 ~ A %s ern Pacific gen ; 4 * Short Line ref. 4s — z ‘ » 8 & Electric 5s .--- : Pe ia R, R. gen. S'4s ‘ Pennsylvan'a RK. R. gen. be ‘ Reading ger —— 843% OM of © ; 4 & 10535 nion Pacific z 90% 99 S. Rubber 5s TILES ETM : “ e $8% 8D Vtah Power & Tight §s —------.---- * 92 Western Union @%= ——----_- i Westinghouse Electric oon declared by Pan-American and common place on an $8 basis. — SWAN JNDERREAMI Tw y imustriale 100.11, of 1.84 Twenty raile 92.5) off .89. & waesiiteeebate Miu Secs NEW YORK, Oct. 24.—Copper TOT let: electrolytic. spot and futures AT. YOUR 13% @14. Tin strong: spot and fu JPPEY STORIE ures 38.37. Iron steady; prices un 33 : ‘ Lead steady; spot 5.60@5.85 Fast St. Louts spot an 00@7.05. Antimony hariged. AMERICANS! Resent the INSULT to your intelligence and to your patriotism implied by the slogan: “VOTE ’ER STRAIGHT!” ARISE! Be independent Americans. Wear the YOKE of no political party. Be Men and Vote for Men A Bank Officer’s Work A bank officer spends a good deal of time examining into pecu- liar business problems submitted by clients. Through years of this work he gets a thorough under- standing of the reasons why busi- ness ventures’ succeed or fail. With his accumulated knowledge and experience he aids other men to keep their business sound and stable. Our officers are always pleased to counsel with clients.* Place your campaign in the hands of an ex- pert who is thoroughly familiar with all meth- ods of publicity. Who can plan and write your display, prospectus, from letters, etc., and place your publicity where it will bring results. = { | MONEY tnmbs about steady; one double desir-| | | able 63-pound western feeder $14.10: 4 NEW YORK, Oct. 24.—Call monoy | Shee? 28¢ higher: heavy fat ewes $4.75 steady; high 414; low 4; ruling rate | @5-50; lighter weight upward to $7 474; closing bid 4; offered at 4%; last | There are 136 miles of towpaths beside the River Thames in England. The depth of sand tn the lesert averages about 30 feet. ——$<$—<——— lambs $12.90@12.95; sheep steady; ewe loan 4; calhioans against acceptances | Omaha Quotations. top $6.50; feeders mostly 25c lower: 4; time Joans easier; mixed collateral} OMAHA, Neb., Oct. 24—(U. 8. De-learly sales of feeding lambs $12.509 60-00 days 414@4%; 4-6 months 4% @ | Dartment of Agriculture.)—Hogs—Re- |-13.30. 5; prime commercial paper 41:@4%.|Ceipts 4,0000; opening atrady to 190 . lower; generally 10c to 18¢ lower; bulk; Denver Prices. Cotton | packing grades $8.15@38.50; bulk 200; DENVER, Colo., © NEW YORK, Oct. 24.—Spot cotton | 300-puund butchers $§.70@9; prac-| Receipts 3.500; mark: steady; middling 24.10. tical top $9: one [oad earty at $9.10. -| steers $6@5. cows and heifers $3.50 Cattle—Receipts 12,000; better'grades! @5.75; calves $3,75@8; bulls. $2.25@ of steers fully steady; top $12:85; she| 5.25: stockers\and feeders $4.50@7 Share Wyoming National Bank Capital, $100,000.00 * Surplus, $150,000.00 Pesos Thoroughly familiar with al] phases of the oil game and in constant touch with loca) condi- tions. Years of experience in the writing and handling of all forms cf publicity. For interviews. address atock barely steady; bulls and vexls|. Hogs—Receipts 485; market stead: . : unchanged: stockers weak; feeders i5c| to 151 2 75 fs i y SUGAR unchanged: | fe 18e lower, top $9.20: bulk. #8.70@ Box A-177, Care of Tribune Casper, Wyo. Shetp—Receipts 17.000; tambs Weak| Sheep—Receipts market Foreign bar|to 25 lower; bulk western lambs $14;/ steady: lambs $ ewes $4@ rs 51 fed woolled $13@13.50; fed clippea | 6; feeder isinbs $1 3:25.