Casper Daily Tribune Newspaper, January 28, 1923, Page 22

PAGE EIGET FRANCE TRYING TD SUSPEND LAW OF ECONOMICS, BABSON INSIaTS Going at Her Problem the Wrong Way; Is Incon- sistent and Wants a Ce Apply to Her But Not to rtain Economic Law to Germany, Expert Says. WELLESLEY HILLS, Mass., Jan. 27.—Since the arrival of the British debt commission to the United States, Roger W. Babson has been making a statistical point of view. His study of the situation from a detailed conclusions are dry and uninteresting. The summary which he makes, however, is most enlightening. “Fir let us realize," say Mr. that the coming to this tanley Baldwin, British the exchequer, Mon- man, governor of Bank 1 their associates from n the world, with i begging for mercy, atest events in our Rats in hand a: is one of the financial history. For — centuries Great Britain has been the world’s greatest creditor and all nations, in cluding our own, have owed the Brit ish empire billions of dollars, “The war turned the financial world upside down. Certain great na- tions like Germany emerged bank rupt; France, the world's greatest investment nation, emerged debtor while England, to whom everyone came for advice, now comes to Wash ington for help. Truly this is the most dramatic economie and finan cial event in the history of our na tion. It also emphasizes the fact that we have a great financial respons. bility as well as a great opportunity Therefore, it is with this thought in mind that we must make our deci sions. “This whole question of reparation continued Mr. Babson, “is bound up with sympathies, politics, and tional feeling. Owing to the latter without doubt, a great many people in our country sympathize with Ger many and many others through thei Jove for Ireland hate England, Franl study of the situation, however should convince any disintereste: party that Germany is in the pos! tion of a burglar who attempted colorsal steal but was caught and featod in his plans, Irrespective the question of punishing this burg lar, all must acmit that he shoul: made amends for the goods which hi partly got sway with and destroyed France, therefore should not be crit elsed for fnsisting that Germany res tore, as far as possible, the property which was destroyed and damaged In her attempt to burglarize. Every disinterested party must admit that this is reasonable. France is askine of Germany only what any one of us would ask of a neighbor who at tempted the same thing in our com munity. “The reason that France has re cently lost sympathy in her negotio tions with Germany ts due to the fact that she {s going at her problem fm the wrong way. France's difficulty in that she is inconsistent. She wants a certain economic law apply to her Dut wants to suspend it in the case of Germany. Perhaps this is more or less true of all the allies, espe- tially when they say that they can- not afford to pay their indebtedness to the United States. Yet when one looks at the statistics he finds that England, France, Italy, and all the allies combined owe the United States enly about ten billion dollars, while they are demanding of Germany alone reparations of over thirty bil- Mion dollars! Of course, if Germany an pay any such amounts as France demands, there is mbsolutely no @oubt but that England, France, and the rest of them, can very easily pay a smaller amount to the United States. President Harding and his cabinet, and all others who have looked into the matter evidently ap- preciate this situation. : “Up to the present time, England 4s the only one of the allies who has_ made an honest attempt to return) any money to us. England is paying | interest on its indebtedness while the other countries have sent us prac-| tically nothing. It is true that Eng-| land has a commission here today pleading mercy; but we should be fair with England and recognize that | she has made her payments thus far fn accordance with her agreements. | As to what we will eventually do] with these foreign debts cannot be) foretold at the present time. Cer- tainly {t woul’ be useless to cancel them today and have theso European nations go on another great spree or spend our money playing military power. If, however, these nations! would repent of their sins, disband their armies. and live honest'y and decently, I beileve the United Btates $7.25@9.00; week's top steers $10.35; to $1.11%, was followed by a moder- EUROPEAN CREDIT PLAN CHECKS SLUMP, PRICES OF GRAINS RALLY would be glad to help. On the sur- face, the difficulty with Europe is financial; but a statistical study shows very clearly that tho rea! trouble with Europe is spiritual. Be. fore we, or any other country can help Europe, the European nations must change their purposes motives, and attitude toward God and one an other. “Unt! this time comes I cannot a4- vine anyone to buy or even hol Bu- ropean securities. After paying for! the bare necossities af life Hurope has a surp'us which {t can use either to | maintain armies or pay interest on | {@ indebtedness, but it haa not eur- ESS WANE OES “ UNDERREAMERS NEVI sninge Fabs AT YOUR SUPPLY, STORE mat plus enough to do both Europe is a gcod deal like the steamboat on the Mississipp! which Abraham Lincoln used to tell about. The boller capa- city was enough to blow the whistle or to run the boat, but not enough to do both, When the whstle blew, the boat had to stop. At the present ume Europe seems to desire to whistle \ather than run. Until Burope changes {ts desires and puts its en- ergies on running insteal of whistlir Wise investors will not hold Europe: securities. On the other hand, I be lieve that when Europe quits squab bing and settles down to an honest ffort to produce. these European s curities will be perfectly good. This s true not only as to the money owe: y Europe to the indepencent tn vestors of this country, but it alsc applies to the ten billion dollar which are owed to the United State because these devts all combined ar less than France claims German. ulone is able to pay to her. “This' is why foreign exchanges are so little disturbed and businesr continues to be good. Even th narching of French troops into Ger many seems to affect our markets very little. The Babsonchart now above the X-Y line indicates that general business stands at 2 per cen xbove normal which is very goo for this time of year. From the head lines in the papers, one woul think Burope is going to smash, an” ngland into bankruptcy. Do not ar—when Europe sees the error 0 ts way and becomes sensible, !t wi! come back’ very rapid In th neantime." coneludec; Mr. Babson. are showing wisdom by sitting ——— — Chicago Prices. CHICAGO Jan. 27.—(U. 8. Depart ment of Agriculture.—Hogs | receipts 5,000; holdover 10,881; ight hogs 1( l6c higher; butchers steady, few early sa’es h'gher; bulk 160 to 20 pound averages 8.30@8.35; top 8.50 bulk 260 to 300 pound butchers 7.95 ¢ 8.00; welghty packing sows 6.757 7.00; desirable pigs around 8.00; es' mated holdover 4,000; bulk of sale 7.85@8.30; top 8.50; heavy weigh hogs 7.85@8.05; medium 7.95@8.35 light 8.25@8.50; light Mght 8.25@850 packing sows smooth 6,90@7.30; pack ing sows, rough 6.75@7.00; killing pigs 7.75@8.25. Cattle receipts 600; compared with week ago: beef steers, bul's, stockers nd feeders steady; butcher she stock @40c higher; better grade heifers showing most advance; canners and cutters steady to strong; veal calves 25 to 80c higher; extreme top ma- tured steers 11.50; best long yearlings 10.75; week's bulk prices follow: Beef steers 8.35@9.85; stockers and feeders 6.50@7.75; butcher sho stock 4.65@6.75; canners and cutters 2.86@ veal calves 11.00@11.75. Sheep receipts 2,000; run practical ly al! d’rect; compared with week ago fat wooled lambs steady to weak; clipped kind 10 to 15c lower; fed year ling wethers 25c lower; sheep fully steady; feeding and shearing lambs 85 to 400 higher; week’s extreme fat lamb top 15.60; closing top 15.00 to packers; closing bulk fat wooled lambs 14.26@14.75; shorn description 12.25@12.90 mostly; good to cholce 87 pound yearlings 12.25; heavy fat ewes 5.50@6.50 mostly: lighter we'ght kind up to 7.65; desirable 0 to 70 pound feeding and shearing lambs 15.00@ 15.25. Omaha Quotations. OMAHA, Neb., Jan. 27.{U, 8. De partment of Agriculture.)—Hoge—Re- colpts 4,500; mostly 6@100 higher; bulk packing grades $7.00; bulk 190 to 270 pound butchers $7.85@7.90; top $7.95. Cattle—Recetpts 200; compared with week ago: beef steers and she stock mostly 26c lower; bulk fed steers | New York Stocks | Associated Press Leaseg Wire Allled Chemical & Dye -. 74M ALis Chalmers —___. 46% American 13% American 82% American 73% American Hide & Leather pfd_.67%B American International Corp. . 25% American Locomotive 123 American Smélting and Refg. 55% American Sugar -. — 18% American Sumatra Tobacco 26% American T. and T. - 122 American 151%B American 95% Anaconda 48 Atchison 100% Atl, Gulf and West Indies -..20%B Baldwin Locomotive . 133% Baltimore and Ohio 46% Bethlehem Steel “B" 62 Tanadian Pacific 142% ‘entral Leather 344B Chandler Motors -.. 68% Chesapeake and Ohio -. 72 ‘hicago, Mil and St. Paul -. 23% Chicago, R. I. and Pacific. 33% Chino Copper 24% ‘olorado Fuel and Iron 25% B ‘orn Products .. _ 127% ‘rucible Steel --. 13% Erie -. 11B ‘amous Players Lasky 83% yeneral Aspha’ 43% eneral Electric 183 jeenral Motors 4 ocdrich Co. — 36% reat Northern pfd. - 13% ‘Mnots Central ~~ 111% nspiration Copper 34% nternational Harvester -. 90 nt. Mer Marine pfd. - 381% nternational Paper 51% avine!ble O1l - 16 elly Springfield Tire 494 Cennecott Copper --- 36 voutsville and Nashville 1334 Texican Petroleum {lam Copper - liddle States Of ~ fidvale Steel -_.. 27% Missouri! Pacific —~. 16% lew York Central 94 i. Y.. N. H., and Hartford 20% jorfolk and. Western 112 lorthern Pacific - 15 Oklahoma Prod and Ref. Pacific Ol --.. 43% -an American Petroleum vonnsylvania cople's Gas ure Oil % Consolidated reading -----~--. tep. Iron and Steel toyal Dutoh, N. ¥. ‘oars Roebuck - on rn rd Oil of N. ker Corporation 115% ennessee Copper 11% Texas Co. ---<--. 48 Texas and Pacific - 21 Tobacco Products -. 82 Transcontinental Oil -. 11% nton Pacific -.. 187 Tinted Retail Stores - a 'T. $. Ind. Alcohol 64 ted States Rubb: nited States Steel - 106 tah Copper 638 estinghouse Electric 60% illys Overland TM American Zinc, Lead and §m.. Butte and Superior -4--29%B Cala Petroleum 76% Shattuck Arizona -—— Montana Power 65% Gre&t Northern Ore -. 30% B Chicago Northwestern - 78 Maxwell Motors B -. 16% B Consolidated Gas - 67% American Linseed Otl 31% ee yearlings $10.25; bulk cows $4,00@ 451 heifers $5.25@6.50; canners 92.70@3.00; cutters $3.25@3.75; bulls ands veals §=25@50c lower; bulk bolognas $4.00@4.25; most; stockers and feeders steady to strong;, week's top $8.25 Sheep—Receipts 500; compared with week ago: lambs and yearlings most- ly 26c lower; sheep strong to 25 higher; feeders .50@78c hi RAIN TRADING IS DULL TODAY CHICAGO, Jan. 27—During the early trading today grain prices had a downward tendency. Offerings were free but there was a limited demand. A bearish influence was caused by re- | ports of rain and snow !n the winter wheat territory. There were also pro- dictions current that world shipments for the week would show a large total. The opening which varied from un- changed figures to %c lower, with May $1.16% to $1.16%, and July $1.11 CHICAGO, Jan. 27—Aided by a senate committee's action on a bill to provide an export credit fund of §250,- 000,000, some rallying power has been evident in the wheat market during the past week after it had fallen to the lowest price since the first w in December, Piling up of the ik United States visible supply of was previously acting as a on values, Compared with a so, wheat this morning was 0 1% down, corn varying from Jecline to %o gain; oats %o oft %o up and provisions varying & metback of 27 conts to 10 cents om advance, At the extrems low nt reached the wheat market, on whowed ro than 11 cents a bushel drop rom recent top figures, With export business meager and with further shrinkage of European buying power in prospect as a result of the strife going on between Germany and \ France and because of other Buro- Dean dissenstons, the wheat market was under heavy selling pressure be- fore ractions began, Rainy weather tory counted as a further bearish ‘tn- fluence, 59% | 2f & reaction. 14% | bat ruling prices in Argentina were 8% B| % to %o net lower, with May $1.19% beef bulls off} May 44%c. in the domestic winter wheat terri-| Casper Sunday 990 | Oil Securities Furnished by Taylor and Clay. LOCAL OIL STOCKS Bessemer Big Indian Boston Wyoming 1.00 Buck Creek ~. a4 Burke — 27 Blackstone Salt Creek .13 Black ‘Tail - ro Ot Chappell .. 40 Columbine 112. |near Clayton, a station on the Burlington east of Glenrock, Consolidated 1.29 |comes the information that this company has let contracts Cow “Gulcn® 02 20% | for the immediate erection of ninety 80,000 barrel steel stor- Domino -..-_. 08 ‘os |age tanks. Contracts for this work has been let to the Elkhorn _ 04 106 {Graver Corporaton, the Chicago; States with 550,000,000, which {s con- E. T. Williams a3 “15 | Bridge & Iron company and the Amer- servative; Mexico with 180,000,000 and Kinney Coastal 35 tcan Bridgo company. Material for, the rest of the world with 100,000,000. Compan --=-------. 018 these huge receptacles 1s now being) Accord ng to his figures the United Frantz shipped and the companies will soon States shows a gain of 81,000,000, Gates have their erecting crews on the Mexico a falling off of 15,000,000 and jupiter 4 round to rush the work with all pos- the rest of the world a gain of 7,000,- Lance Creek Royalty... .03 sible apeed. ‘These tanks when com- 000 barrels. pepcdinaa ther seers oH pleted will have * Aronia capacity Wiudiouiicene eee es este of 7,200,000 barrels which will nearly} Mids SS ties equal that of the M'dwest here. The Prairie Of! & Gas company Pleardy ---- loa Pipe {s now tn transit for the pipe-' Saturday morning advanced the price! Great preston 00% 01% |1ne which will be built by the Sin. of crudo oll 10 cents a barrel in the Royalty @ Producers. 12 43°"|c'air Pipe Ling company from Teapot| Midcontinent fields which was fol- Stinset a he to Kansas City and arrangements are) lowed by a like advance in Loulsiana Tom Beli soyulty -. lois no wbeing made to have th's work! and Arkansas, This-is. the second Western Exploration — 2.40 under way as soon as possible. Lay- raise of 10 cents in that d’strict sin)> Wyo-Kans. . ‘ng of the ne at this end will start that latest boost here and a hike of Wyo. ‘ex. _ from Teapot and contracts will soon from 10 to 20 cents a barrel in the Weetern States +23 |be let for the hauling and laying of, price of local oils is now tn order. ¥. On this p'pe upon arrival. | a NEW YOR! sentatives of both these S'n-| Record Low On Marks. Mountain Producers -$ 16. 7 {clair companies are now in the city A new low price for German mark: Merritt ~-- 9.00 2/and offices will.soon be opened from was made with the opening Saturday enrock Ot] 1.81 7} which the wore in this terr tory will morn ng of the‘London exchange witt Salt Creek Pree. -.-. 20.12 7|be directed the quotation at 118,000 for the Salt Creek Cons. 10.00 pound sterling. oe aba OM News From Basin. | tn. eaitte e ; BA Wyo., Jan. 27—The Onto} die Cars Increase. Pies re a ne | Ol company ts reported 1850 foet at: Tdle cars in the United . States nities Barvloe Gord. ARBOR the Mercer dome test this mern’ng totalled 28,282 on January 15, an in Fedelana’. * Se dese and witt. bole in perfect condition, crease of 7,856 since January 7. Mammoth Olt 53.87 The Madison limestone ie expecte1 in} ema est New York OM — 16.00 pita ea okt Toceststel Up; Hale Down. LIBERTY pox. 3%s First 4s dey. Second 4s \t Netber dome the Midiest-¥.'vo- First 44s min Socond 4%s .. Third 4%s before continuing ar'lin; Fourth 4\s The Grilling of the Fight m‘lo Victory 4%s - dome, a ight ofl structure southeast) of Basin is expected to start early | next month Dakota and Minnesota capitalists are finane’ng the drilling The Wyoming ‘Gas company has Hanititon . . 1.25] d: finitely dec ded to build a pipe line Sat Cenk 175) Little Buffalo field to join Mule Creek? a 1.15 | ‘he Hidden ome line 2s soon as weath-} Bg Muddy - 1.25] er permits this spring. This Ine wil! Salt "Creek _ 1.25] be about 52 miles In Iength an bring Rock _.Creek 1.70|@ sufficient supply for all needs in Gpene Sos ~ 1.70 | this section. nce Creek - 1.70 —- ass Creek — 1.70 Contract Made for Stock. Torchlight 1.70 Sunburst 1.10/ming Teapot Of Syndicat, has. re- Ic Basin 1.70/turned from New York, where he Greybull 1.70 te general sag and then something A transient upturn which ensued was based more or less on reports that Argentine producers were show- ng unwillingness to sell wheat and portion of orders. alre: leemed unsatisfactory in view of the once. leficient yleld. The close was heavy, the immed! to $1.16%, and July $1.11%. be pena Corn and oats declined with wheat. After opening unchanged to %c! ower, May 72%c, the corn market inderwent a setback a!l around. Subsequently, the market was steadied somewhat owing to advices that the Argentine ¢orn crop had been seriously damaged by drought. The close was easy, at % to %c net de- line, May 72% to 72%c. Oats started unchanged to ec off, Later all deliveries were lown a little. Prospects of continued Mberal re- celpts of hogs weakened the pro- vision market. @rilling will southwest forty. Pipel’ne the preced! output. age daily r ming and “ ring Cribune Ohio test In Oregon Pazin on the Sonners pérmit 1s down 400 feet h. Five !ght o# sands are expected at less than 2,000 feet. North ger brokerage companies of that c!ty breds over the closing rates on De to handle $100,000 worth of the units cember 16. of that organization. Mr. Banta states that only a smal) nre being c'eared rap!dly. the issue was reserved, most of which will be required to fil change in quotations for the wee! ady in, the balance being available to local investors /f taken at blood 51@53c; Plans are now being perfected for $1-35@1.40; fine 8 months $1.20@1 Nate starting of operat'ons in the field and it Is expected that d’e 1 soon be under wa corner of section on the where tho syndicate has a valuable 1-49; Pipe Line Runs. runs for the week ended January 20 showed an increase of ap-|Pl0od combing 95e@ $1.05; %4 blood proximate'y 10,000 barrels daily over Combing 90@93e. ing weédk, most of which was accounted for by the Sait Creek The following table shows the aver- uns from all fields in Wyo: Montana for the woeks ended January 20 and January 13. Open High Low Close} Felis. Jan.20 Jan. 13 WHEAT— mar Salt Creek .. 67,800 57,890 May - — - 116% 117% 1.16% 116% Muddy .. 3,360 3,400 July - - - 141% 1.11% 111% 1.11% [Lance Creek 720 740) Bept. - . - 1.09% 1.09% 1.08% 1,09 [Pilot Butte -—. 115 110) CORN Lander ...~. 750 705 Lost Soldier 2,580 3.100 May — ~ - .72% 78% .72% .72% .! July wets aan 73% 72% .72% | Rock River 5,606 5 200 Sept. - - - .12% .73% .72% .72% Grass Creek 4,640 4,610 ne. Hami!ton Dome 875 B30 May - - = 44% 44% 44% 4% | Elk Basin - 2,130 2,405 July — Al% 42 41%. 42. [Greybull, ete, - 165 = 140 L RD. Se’ Osage -. . 690 750 Jan. .- = 11.20 11.26. 11.20. 11.25] Ferris 605 625 May - — — 1142 1145 11.37 11.40|Cat Creel 7015 7,350 RIBS_ Kev n-Sunburst - 740 725 vee. 11.00 | Miscellaneous -. 500 475 87 ces iaraae is Total -. - 88,755 CHICAGO, Jan. 27.—Wheat, No. 1 notrhernu $1.17. Corn. No, 2 m’xed aeons pate Gopsepaboe 71% @72c:; No. 2 yellow 72c. Oats, No. ‘. ean, S17 Siiclatr \ Ot 2 white 44@45c; No. 8 white 424@| Corporation has obtained from the 43%c. Rye, No. 3, 86%@86%c. Bar ley 59@6ic. Timothy seed $6.00@6.50. Clover seed $13.60@20.50. Pork nom- inal. Lard $11.25. Ribs §$10.50@11.50. January Good Business Month. NEW YORK, Jan. 27,—Dun's says: day. Among t! the |have been placed at enhanced price |Following a 16 per cent advance last |year, the general wholesale price level has risen further and the wide marg’n of increases in Dun's list again is a feature this week, The larger de- Interest! ed for in Evidence to show that wheat was contributing factors in helping the market recover somewhat from the weakness which wan being acute. Subsequent changes in prices hinged largely on varying opinions as logisiation would fail to enactment selling led to a decline in most of the Provision list, man for goods obviously is a factor | fermed ci low compared with other commo(tties|!n the upward price movement, but current levels, together with talk current that Rus-|there is the contributing element of| timated at over $7 net per share and sia would be out of the export buel-| 7 yur: r ness for at least a genoration were!and production costs are maintained | bined with favorable outlook for 1923; R0¥@! Dutch extended its loss to two restricted supplies in some instances, /recent pr on a high basis, While labor troubles| promise w do not now sertously interfere with | |operations, a shortage of workers has become a handleap in some industries | manufacturers’ calculations, Inabil-| operating 1155,-| 000,000 ba | Weekly bank clearings $6 Y 178,000,000 1000, ¥ remarkable contract Soviet government a 86 year conces- sfon to an oll tract 1,000 versts squaro | on the island of Sakhalin In the north| Pacific ocean, {t was announced to-| ‘he number of conditions of are that “As was expected, January has| Upited States shall not commit any been a good month for business, After | hostile act against Russia and that a holiday lull that was lees evident recognition of Soviet government than usual, activities broadened in| CMe within five years. different quarters and many orders|: The faland of Sakhalin les just north of Siberia. Favorable Outiook for P. & R. ing developments are look. Producers & Refiners dur- ing the next few months, and well {n- cles are accumulating it at 1922 earnings are es- ‘operty acquisitions, com- ell for stockho!ders, Inquiry in Texas. i Following tho inqu'ry in the senatot c, toland the question of making deliveries | like probe has been ordered by the | whether the proponed foreign credit|as specified enters more sharply into| Texas legislature of oil companies in that state for the pur- rrola, a gain over 1921 of He oredits the United The average price of twenty active industrial stocks traded in on the New York stock exchange on Frida; was 98.15, a net gain of .36. Thc Cas bas 12% casing set at 102 average price of twenty active rai feet and wating for cement io set Toad stocks was 86.43, a net loss of Wool Future Good. BOSTON, Jan, 27.—Vne commercia! bullet'n says: “The opening of prices on heav: weight goods for 1923 season at ad |¥ances of about 19 per cent on the average, above the prices of a year ago. is regarded by the wool trade n- conducive to good business and this is reported to be the actual resu't. Barly withdrawal of lines and re pricing to a higher level are looked upon as inevitable. “The local wool market is stronger, in sympathy with the foreign mar- | kets, which show a higher tendency \Wondon opened on a parity with th .\H. Banta. pres'dent of the Wyo-! prices established last week at Liver | pool; that is at an advance of five seven and a half per cent on Merino closed a contract with one of the lar-!and 10 per cent gencrally, on cross} 29" Francisco j The primary markets continue to lead the way, and stocks “Mohair is strong without materia Wisconsin half blood 48@50c; % % blocd 48@48c. Scoured basis: Texas fine 12 monthr California northern $1.30@1.35; mid county $1.15@1.20; southern 95¢@$1.00. Oregon eastern No. 1 staple. $1.35@ fine and fine medium combing eastern clothing $1.20@ No. 1 $1,.20@1.25. Fine staple choice $1.42@ Hd $1.25@1.35; valley | 25: | 1.25; | )_ Pulled De'aine $1.30@1.38; AA | $1.20@1.30; A supers. $1.15@1.20. Mohairs: Best combing 78@83c; }best carding 70@7! STOCK TRADING IS JARESULAR NEW YORK, Jan. 27,--In the ses- sion of the stock market today which was brief and irregular, the principal ntereét centered on the further de- Preciation of foreign exchanges and the buying of shares the fluctuations of which do not materially affect the general trend of the market. Heaviness cropped out in a number of the standard shares, particularly Baldwin, Union Pacific, Bethlehem Steel and some of the foreign olla. Baltimore and Ohio enjoyed a briet period of strength on publication of the December earnings statement showing an increase of nearly $8,- 500,000 in net ‘operating income. St. Paul preferred moved to higher ground. Royal Dutch, General Asphalt and Republic Steel preferred sold off 1 to 2 points. The closing was Sales approximated i} irregular. 350,000 shares. NEW YORK, Jan. 27—At the opening of the market today profit taking was resumed in some of the public utilities and specialties with new buying in the independent steel The prices were irregular. Kreage was pushed up 1% to 210, a new high record, on publication of fayorable earnings statements. Corn Products land Royal Dutch each dropped a |point. Bethlehem and Gulf States | Steels improved fractionally. Marine preferred dropped 1% points to 88, a new low record since 1921. points and Willys-Overand preferred dropped one. There was a fair de- },mand for some of the dividend pay- ing ral Lackawanna, New Yori ‘entral, Norfolk and Western and Chicago and Northwestern gaining % to 1 point. Advances of 1 to 1% points were recorded by Columbia |und the chances otherwise for Ger-|ity to give assurance of early ship-| pose of determining if possible {f un-| fan, Crucible Steel, Bavage Arme moa many to get money to pay for food-|mentsa tends to prevent the dovelop-| fair price fixing exists, Spicer Manufacturing. American Can stuffs |ment of nome orders, and reports of |Chand‘er Motor, United Fruit, Amer. Corn and oats were ateadied by the|the withholding of additional offer-| Gain in World's Crado Production. |ican Smelting and Standard Ot! of government report that the number ings or the limiting of commitmenta| J. A. Phelan, of! expert for the de-| California also moved to. higher of hogs on forms groatly exceeded|by producers are being heard more| partment of commerce estimates the|ground. Foreign. exchanges were the number of a year ago, Packers) frequently. | World's of! production tn 1922 at 890,-/ensy. The German mark fe! Il to ,0087 000 to the Amer cr approximately fean dollar. Dom. of Can., 5% per cent notes 1920 French Republic, 85 French Republic, 748 Kingdom of Belgium, 74s Kingdom of Belgium, 8s Kingdom of Norway, 6s -. U. K. of G. B. & 1, 6%, 1929 U.K. of G. B, & I, 5%, 1937 -~ American Sugar, 68 WYOMING’S LEADING OIL, BUSINESS AND FINANCIAL DEPARTMENT EDITED BY L. C. BAILEY TWARKET GOSSIP AND FIELD NEWS TANK CONTRAGTS LET BY SINGLAR Following the announcement that the Sinclair Crude Oil Purchasing company had purchased two sections of land SUNDAY, JANUARY 28, 1923. 102 92% American Telephone and Telegraph cv, 68 -. American Telephone and Telegraph, col., tr, Armour and Co., 448 Baltimore and Oh'o cv. Bethlehem Steel ref. 5s Bethlehem Steel p, m. 5s Canadian Pacific deb., 4s Oat. Burl. and Quincy ref., 5s A Chi. Mii. & St, Paul ev., 448 Goodyear Tire, &s, 1931 Goodyear Tire 8s, 1941 Granda Trunk Ry. of Can., 7s - Grand Trunk Ry. of Can., 68 - Great Northern 7s A Northern 61-38 B — Mo. Kan. and Texas new adj Missouri Pacific general 4s Montana Power 5s A - ew York Central deb., 68 forthern Pacifle pr. lien 4s Yregon Short Line gtd. 5s ctfs, inelair O'l Co, 78 — 3tandard O11 of Cal., deb 7s — In'on Pacific first 48 S. Rubber, 7s - 8, Rubber 5s _ ‘tah Power and Light, 5s Vestern Union, 64s — as 88 91% 110 JANK DEBITS DEC AEASE ON WEEK BUT onUW GAIN VER LAST YEAR Bank debits for the week ending January 10 totaled $9,898,000,000, a de- crease of $1 325,000,000 from the record tota’ shown for the week before, which witnessed a large volume of are shown for all the leading centers, nd Los Angeles. end-of-year payments. Smaller figures except Buffalo, Richmon(, Washington As compared with the correspond’ng week in 1922, bank debits for the yeek under review showed an increase of $984,000,000 or 11 per cent. Larger gures as compared with last year ai xcept Baltimore, Milwaukee and Sai re reported for all the leading centers, n Francisco. Debts to individual accounts were reported to the Federal Reservé board or banks in 261 centers, of which 166 are included in the folowing summary by ‘Federal Reserve districts. Debits to Individual Accounts by Banks in Reporting Centers Summary of Federal Reserve Districts, Reserve District Boston jew York Philadelphia leveland stchmond \tlanta hicago st. Lou's dinnea polis -ansas City Jallas TOTAL ~ In the tenth district reporting to rict reporting for the weeks ended J \tehison, Kan. Jartlesville, Okla, ‘ASPER, WYO. - theyenne, Wyo. olorado Spring: Jenver, Colo, inid, Okla. *remont, Neb, irand Island, Neb. irand Junction, Colo. — iuthrie, Okla. {utchinson, Kan. Independence, Kan, — rn, angas City, Kan, ‘ansas City, Lawrence, McAlester Muskogee, Oklahoma! Okmu'gee, Okla. maha, Neb. Parsons, Kan. Pittsburg, K. Pueblo, Colo. — St. Joseph, Mo. Topeka, Kan, Tulsa, Okla. Wichita, Kan, City, Okla, jo. Centers Jan, 10, ‘23 Jan. 3, '25 Jan, 11, *2: Week Ending (In Thousands of Dollars) 15 519,787 698 116 490,863 4 230,424 6,045,605 4,864 265 13 409,608 4 499,786 10 211,598 15 196 242 24 964 114 8 228 118 11 326,849 16 - 13 183,692 20 662,683 20 11,223,294 Kansas City, Casper aayanced to ninth position with debits for the week totalling $5,177,000. ‘This move was made from twelveth position the previous week and is the first time in months that this city bas ranked h’gher than tenth in this district. The fo.lowing tabie shows the total debits in all cities of the tenth dis- january 10 and January 3. Jan. 10, '23 Jan 3, '23 In thousands of dollars.) 1,670 1,328 2,562 151 4,309 4,56: 2,697 40,317 3,344 53,006 1193 1,413 4,299 17,065 4983 STOCK TREND H WEEK, BOND DEMAND IS WEAKER NEW YORK, Jan. 27.—A move- ment to higher ground for the weelx was noted in the stock prices, espe- eally the railroad issues, but under renewed weakness in the French and Belgian lens and the competition caused by a large amount of new offerings, bond prices were reaction- ary. Movementa in the stock mar. ket indicated that domestic con ditions were the dominant factor in the determination of quoted values but that the European situation was causing a curtailment of busine: and an absence of public participation making {t essentially a “traders market.” The sudden burst of activity in railroad sharps was inspired by. the excellent showing made by the roads jin their December earning statements, the first of which have just been pub. Ished and the continuance of a record volume of car loadings, which totalled 873,2°1 cars for the week ending Jan- |uary 13. This total exceeded that of jevery high week in January or February and was only exceeded by one week in March—that of March 15, 1920. Southern Railway was one of the most active issues, touching 80% ns against the year's low of 24%, buying |Deing based on reports of large cur. | rent earnings. One of the most spectacular move |ments of the week was in Fisher Body | stock, which broke from 203 to 162 on announcement of a prospective $20, | 000,000 six per cent debenture bond | offering and an issue of 100,000 shares |of common stock at $25 ashare, The stock rallied to 172, the same day.and advanced Jater in the week to 186 on |Announcement of the offer of W. C. Durant, automobile manufacturer who has beon selling tho old stock on a ‘partial payment plan, to purchase the entire outstanding stcck at $200 a share. Another interesting movement took place during the week in the new stock cf the Consolidated Gas com- pany, which advanced from 62% to 68% on Thursday on announcement that the stock had been placed on a $5, annual dividend basis, Other pub- | Me utilities Improved in sympathy. eo Ne | NEW YORK, Jan. 27.—Spot cotton | Quiet; middling $27.80. ——s | OU teases, reat estar, owners of | Teapot townsite. Kepresentatives | wanted. . Call or write us. Teapot | Development Co., 218 Midwest Bidg., | Casper, Wvo. 18+t SWAN UNDERREAMERS s AT “YOUR SUPPLY?'S" Surveying aud Locations Geologists Oil Experts Oil Field Maps, Blue Prints WYOMING MAP AND BLUE PRINT CO. P. O. Box 325 Room 10, Daly Bldg. |