Casper Daily Tribune Newspaper, February 6, 1923, Page 7

Oil -:- Finance =t- Bonds -:- Stocks -:- Grains - : aes AND QUOTATIONS BY LEASED STOCK TRADING. WHEAT DECLINES x MARKET GOSSIP AND FIELD NEWS ~— LIVELY RAIN) ON PEAGE EWS eel" "7" » WATERENCROACHING AT CAT GREEK pad or 1 ances ria Buck Creek .. Swift Upwar ovement, Water i 2 ' 2 is creeping in on the edge wells to the first sand-in Prices Respond. she Cat Creek field, according to reports, which will necessi- NEW YORE, Feb. 6.—Spurred on cate the drilling of these wells to the second sand. The dis- zovery well to the first sand was completed on Fe'w-uary 19, - Livestock - Stocks Wire Securities New York Associated Press Allled Chemical and Dye ----. Allis Chalmers Sans American Beet Sugar -. American Can -.... American American American American American CHICAGO, Feb. 6. — With indica-| American tions that Great Britain and Turkey] American 76% 48% 41% 83% 184% 69% 26% 125% 62% 29% 28 Car & Foun¢ry - Hide & Leather pfd_ International Corp — General Selling in Late Trad- ing Leads to Break in Chi- cago Prices. sia! enoh “Republic, ench Republic ,7% Kingdom of Belgium, King’om of Belgium, Kingdom of Norway. Blackstone Salt Creek Chappell Columbine Consolidated Royalty_ Cow Gulch = 6a Smelting Sugar Sumatra Toba by more extensive public partictpa- ~ tion speculators for the advance staged another aggressive buying movement ‘which carried prices to new high levols in today’s stock mar- ket the most active of the year. Do- mestic trade and business conditions appear to be the dominating factor in the determination. of quoted values, little attention. being paid to foreign developments, _ which, how- ever, appeared to be more favorable fn character. Sales approximated 1160,000 share NEW YORK, Feb. 6.—Resumption of yesterday's buying movement im- parted a firm tone to opening prices in today’s stock market, Tho demand embraced a wide list but was most effective in the oils, rails, equipments nd steels. Baldwin advanced a point nad Pan-American, United States Steel, Studebaker and American Can opengd %o to %e above last night's closing figures. Crucible Steel rose 4%o and Computing Tabulating an Recording one. Royal Dutch solid 1% ailing. apread over a much broad er list as the morning LPugiiayiy Gluett Peadbody was pushed up 2% points ané Crucible Steel extended gain to two points while gains at point or more were registered eh a tional Lead, American Can. Mick ‘Truck, Shell Transport. Ais feal, American Ice, Corn ied Houston Ol, Pullman and Chandler, also continued in goo t for a point gain o,. the early ad- ed to pagier an a For- es showed ttle change demand sterling selling eround ee ‘and French francs dropping 10 pm to 6.31 cents. exceeding 400,000 bop hour gave promi vances were limit shares dur se of & ‘The cours the market hai the reatralay to jected by the un’ lation, and that a broken away from which it had been sub- favorable fore'gn situ: it had turned pores temporarily, in response oe eaiative Refecta of good ignaestic frade and business developmen’: Woolworth was pushed up 5%4 pee nd National Lead 4, reapers ag the other industrials to show gaint 0 2 points or more before noo, Net Gulf States Steol, Amrican Meee. Consolidatd Cigar, Pressed S| Cn erland preferred and Man: ficates. Rails moaered: ie trials into higher groun the teadership. ot Delaware and Hud- son, which extended its early wate 10 » 2% points. Call money opened at per cent. ‘The rapidity of the sere pee nares Products reacting: Prices elsewhere steadily “higher, the scope o' tee nana indicating a wider public participation. New Orleans, Texas, and Mexico improved 2 points on ths nouncement of the increased divi- dend, General Cigar gained 6 points, Brooklyn Union Gas four, Chandler Motors 3 and Louisville and Nash- Yille, American Cotton O!1 common and preferred, American Can, Atlantic Refining, Studebaker, Mackay com- pany and United States Tobacco 2 t6 2%. Mhe clors was strong; heavy buy- ing of a select group of industrial shares in which favorable individual developments are expected to be pend. {ng résulted in a further expansion of business in tho final dealing with rican Woolen, American Smelt- fog, Baldwin, Canadian Pacific and General Asphalt conspicuously ns. METALS NEW YORK, Feb. 6. — Copper Steady; clectrolytic spot and futures 15%. te, firm} spit and nearby; 40.25@ 40.37; futures $409440.12. Tron steady and unchanged. Lead steady; spot $8@8.25. Zino steady: East St. Louis spot and nearby de‘lvery $7@7.10- Antiniony spot $7.12, ean ths stient MSeiiaiaml Foreign Exchange NEW YORK, Feb. 6.—Foreign ex- changes irregular. Quotations in cents: Groat Britain demand 4.67%; cables 4.68%; 60 day bills on banks might reach a peaceful settiement of dizferences, the wheat market aver- aged a little lower in.price'today dur- ing the early dealings, Bulls were handicapped by the fact that wheat values at Liverpool appeared to be unresponsive to yesterday's here. An Increase in the United States visible supply total,constituted a further ele- ment of ‘weakness,. The. opening which ranged from %c to 3c lower, with May $1.19%% to $1.19% and July $1.13% to $1.13%, was followed by a sight rally and then by a dgcline low- er than before. ‘Toward the end of the day, general selling led to a more pronounced drop in prices, Late dispatches regarding the Turks were construed as “increas- ing the likelihood of peace,. Closing quotations were heavy, half to 1%c net lower, with May $1,18% to $1.18%% and Suly $1.13% to $1.13%. Corn and oats were easier with wheat, despite unfavorable advices regarding the Argentine corn crop, After opening uncianged~to %e off, underwent an additional sag. May 7544c to 75%c, the corn market Subsequent'y, July and September touched a new high price record for the season, but in the last hour the market was again affected by the weaknessof wheat prices. Corn closed heavy, %4c to lic net lower, with May 74%c to 74%c. Oats started unchanged to 1c low- er, May 45%c to 45%c. Later all months showed some setback. Higher quotations dn hogs gave a lift to the provision market. CHICAGO, Feb; 6.—Wheat No. hard $1.20%4. -. Corn No. 2 mixed 73% %474c; No. 2 yellow 73%475%c. Oats No, 2 white 44%@45c; No, white 42% @44%c. Rye No. 3, 86% @8744e. Barley 62% @68e. ‘Timothy seed $6.00@6.50, Clover seed $13.50@20.50. Pork nominal. Lard $11.45; $10.26@11.25. Ribs WHEAT— May ---~119%5 July 2.113% Sept. 2201. 10% CORN— May 15% July 15% Sept. 75% 1.20 144 adaly 15M 15% sTB% 1.18% 1.13% 1.10% 14% 14% A% AMG ABH AIH 438% ADK 1140 1147 1147 11,50 .11.60 11.50 10.90 10,97 10.95 10.95 10,90 pe ae a AWES BAMBINO One look at the news stadium of the New York Yankeesin the Bronx and Babe Ruth remarked: “Say, here's one baby who {s mighty g’ad that he's not a center fielder. ‘Whoever pa- trols that beat in center is not going to be crowded. He’s going to get Jeg weary many an afternoon and finish quite a few battles fit for the rest cure. The Babe's outburst was prompted when measurement disclosed the fact that due center at the Yankee field is aixty-five feet deeper than that at the Polo grounds, Cotton. NEW YORK, Feb. 6.—Spot cotton steady; middling 26.65, a Fog-Crash 4.65%. France demand 6.36; cables 6,3’ Italy demand 4.87%; cables %. Belgium demand 6.61; cables 6.61%; Germany demand .0025%; cablyes .0026; Holland demand 39.52; yeables 39.59; Norway demand 18.6% Sweden demand 26.51; Denmark de- mand 18.96; Switzerland demand 18.85; Spain demand 15.73; Greece de. mand 1.21; Poland demand — .0029;| Czecho-Slovakia demand 2.98; Argen: fine demand 37.12; Brazil demand 21.58; Montreal 95%. —_ NEW YORK, Feb. easier; high 4%; } 4% ing bid A gaping hole was torn in the \nide of the freighter West Calumb last loan ceptances 414; @d collateral 60-90 months 4% @5; vr paper 44Osh. days when she collided with the freighter Western Plain in fog-ehrouded ‘New York harbor. She barely mado a Brooklyn dock before settling in) ‘hho xoude_ American American American Anaconda Ate T. % T.- Tobacco Woolen Copper 122% 155% pig ae . Gulf and West Indies - Baldwin Locomotive Raltimore and Ohio Bethlehem Steel B Canadian Pacific Central Leather Chandler Motors Chesapeake and Ohio Chicago, Mil and St. Paul_. Chicago, R. I.'and Pac. Chino Copper Colorado Fuel and Iron Corn Products Crucible Steel Exe Famous Players Lasky — General Asphalt General Blectric - General Motors Goodrich Co. Great Northern pfd. Dinois Copper Inspiration Copper International Harvester Int. Mer Marine pfd. - International Paper Invincible Olt Kelly Springfield Tire Kennecott Copper - Louisville ana Nashville Mexican Petrolgum Miam! Copper Middle States Oil Missour} Pacific - w York, Central Y., N.HL., and Hartford - Norfolk and Western Northern Pacific ------- Ok‘ahoma Prod. and Ref. Pacific Ot Pan American Petroleum Pennsylvania People’s Gas Pure Olt Ray Consolidated Copper Royal Dutch, Sears. Roebuck Sinclair Con OM -. Southern Pacific Southern Railway Standard Oil of N. J. Studebaker Corporation - ‘Tennessee Copper - Texas: Co. ‘Texas and Pacific Tobacco Products ‘Transcontinental Oil - Unfon, Pacific --. United Retail Stores U. 8, Ind. Alcohol --. 11.40] United States Rubber --. 11.55] Tinites States Steel --. Utah ‘Copper Westinghouse Electric - Willys Overland -- American Zino Butte and Superior ------- Cala Petroleunt Montana Pewer -. Shattuck Arizona Great Northern Ore - Chicago Northwestern Maxwell Motors B Consolidated Gas - ‘American Linseed Oil -— | ‘Standard Oil Stocks New York Curb. Anglo 17% Continental Buokeye Cumberlan Galena mM Pipe Ind. Pipe Natl, Transit N. Y. Transit Northern “Pipe Ohio Oll Prairie O11 Prairie. Pipe Solar Rfg. Southern Pipe Southern Penn Oil A REJOINS MADER. eral o ns an absence from college one thie a year, due to a broken leg received in the memorable football game with Harvard back in 1921, Rags Madera, Pittsburgh boy, haa re- turned to Penn State for the second semester, What is better still, Rags ts out in boxing togs and gladdened the heart of Coach Leo Houck by an- nouncing that he would take his old berth in the heavyweight class. 1s boxed as a heavywe'ght two years ago, and was regarded as one of the greatest heavies in college cir- cles, He sparred several rounds with Coach Houck tonight and h‘s foot- the long siege in the hospital as a work seemed to be untmpaired despite regult of his broken leg. C. H. Stuart {s here for a few weeks from his home in St. Louis. ——<—<$———_ H, A. Tarmen of Denver is spend- ing a week in Casper attending to business matters. | Harl Savre is visiting friends |from his home in Salt Creek. boi nar 4 ty ‘With the Princeton hockey and foot- ball teams defeating all comers, Har- ivard and Yale will have to “step Domino Elkhorn T. Williams rantz iates upiter Kinney Coastal - Lance Creek Royalty. Lusk Royalty Mike, Henry - Mountain and Guilt Red Bank Pieardy Royalty & Produc Sunset ___. Tom Bell Royalty - Western .. Exploration. Western Oi! Fields -- Western States ¥ ou NEW YORK CURE cvosiD Mountain Procuéers _$ 17. $ Merritt Glenrock Oil Salt Creck Pras, Salt Creek Cons Prod. and Refrs. Marine new Mutuel $8.0. Indiana Cities Service Fensland New York Oil -. Mammoth Oil ~. Victory 4%s -. ——a Crude Market ——=—=—=—_———_——T!T" HamitIton Cat Creek Chicago Prices. CHICAGO, Feb. 6—(United States department of agriculture.) — Hogs, receipts 40,000; 6c to 10c higher; bulx 150 to 200-pound averages $8.50@8.80; top $8.25; bulk 210 to 230 pound butchars $8.40@.50; bulk 260 to 300- pound butchers $8.20@8.30; weighty packing sows mostly $7@7.35; desir- able 90 to 115:pound pigs $7.50@8; heavyweight hogs $8.15@8.35; med. fam $8.30@8. light $8.55 @8.85; light lghts $8.50@8,30; packing sows smooth 7.25@7.60; packing — sows rough $7@7:30; killing pigs $7.00@ 8.60, Cattle receipts 16.000; beef steers uneven; slow; generally weak to 25c lover mostly 15c off; Killing quality good early top matured steers $10; some held higher; bulk of beef steers 38.50@9.75; better grades beef cows and heifers weak to 150 lower; other grades, canners and cutters bulls, steady to weak; veal calves strong to 260 higher; mostly 25c up; stockers and feeders steady to strong; bulk de- sirable veal calves to packers $11@ 11.50; choice Kind upward to $12.50 an-dabove to shippers:; bull bologna bulls around $4.50; Ight kinds $4.15 @4.25; bulk stockers and feeders and shearing lambs largely $15 to $15.50. Omaha Quotations. OMAHA, Neb., Feb. 6.—(United States Department of Agriculture.}— Hogs—Retelpts 22,000; mostly 5@15e lower. bulk packing grades $7@7.25; bulk 220 to 300-pound butchers 7.95; bulk 180 to 210-pound butchers $8@8.10; top $8.15. Cattle—Recdlpts 10.000; beef steers 18@26c lower; bulk fed sters $7.25@ 9; top $9.25; she stock steady to 25e lower; bulk cows $4@5.50; bulls steady. to weak. bolognas mostly $4@4.25; veal steady; early top $11; stockers and feeders 10c to 15¢ lower; mostly $6.75@7.50. Sheep—Recetpts 14,000; lambs fully steady; bulk $14@14.60; top $14.75; yearlings $12.25; sheep steady. early : feeders unchanged; early sales $14.40@14.60. Denver Prices. DENVER. Colo.,' Feb. 6.—Cattle— market steady; beef ; cows and helfers $3.50 @8; calves $4.50@10.25; stockers and feeders $4.50@7.25. Hogs—Receipts 4.200. market lower; top $8.30; bulk $8@8.25. * Bheep—Rece!pts 4,000; ~— market steady to strong; lambs $18@14.25; feeder lambs $13@14.2: ewes $4.50 100 . 6.—Forelgn bar silver 64%¢; Mexic C. n dollars 48 The Province of Alberta has set the minimum wasé for women in all the gas” to"kee pace with the Tigers.industries at $14 a week, 1920, with a flush production of 200 barrels and since that time over 100 producers have been drilled into this stratum. Production has held up well and even with water encroaching around the edges it will probably be quite a length of time before the inside wells will have to be abandoned. At the present posted price in that field, a 10-burrel well to this eand is profit: able and it is not likely that these wells will drop below that figure for some time, The firat well to the sec- ond sand was completed on June 3, 1922 at 1524 feet and this sand ts now being extensively developed which will insure the lfe of the field for several years longer even though it should become necessary to abandon the shallow sand entirely. Alaska Well Making Oll. Holden No. 1 of the Alaska Deve!- opment company on the northeast quarter of section 35-86-84 In the Pine Mountain field which came in with 2 | flow of 7,000,000 cubie feet of gas, Is turning to oil and there is now about 190 fect of fluld standing in the tub- in This flow was encountered at 1 feet and a part of theoutput has been used for drilling @purposes in other parts of the field. “This change in the production {is taken as favor. able for the development of good oll 7 | production at a different point on the structure and it is probable that other wellg will be drilled to this sand to develop the production. The deep test of the company now being drilled on the northeast quarter of section 35-35-84 is now in a hard formation and is now underreaming to set casing. Three strays a!l high: ly saturated have been cut so far in this operation, which indicates that when the big sand is reached that it will be highly producttye. It is be- lMeved that the bit !s now in the cap- rock overlaying the Tensleep which was found to be highly productive by the go in,the South Casper Creék field adjoining. Much interest is be- ing displayed in the outcome of this operation and !ts successful comple- tion will mean extensive development in the Pine Mountain areay A syndicate, backed by Chicago cap- {tal, has made all the necessary ar- rangements to drill on the southwest quarter of the northwst quarer of section 3-34-84 and material for the rig will be started to the fie'd some time next week with the view of hav. ing ever¥thing in readiness for opera- tlons with the coming of spring. Many Orders for Engines. The American Locomotive company for the first five weeks of the new year received orders for 163 engines from the different roads of the coun- try, Cat Creek Crude Runs. holes, but it is expected that pro. duction will be found when the sand is reached in this test. To Investigate Austin Nichols. Austin Nichois of Richmond, Va federal trade commission to answer a complaint alleging violation of the Clayton act through {ts acquisition of Austin Nichols of New York and certain subsidiaries of Wilson & Co. of Chicago. All Stocks Average Higher. The average price of twenty active Industrial stocks trade !n on the New York stock exchange on Monday was 100.03, a net gain of .70. The average price of twenty active ra'iroad stocks was 88.08, a net gain of .74. Explanation Called For. A resolution has been tntroduced in the New York assembly calling on Mayor Hylan of New York City to explain how he will ra'se money to finance the transit scheme in N. York under Governor Smith's heme rule plan. + Youngstown to Issue Notes. Youngstown Sheet & Tube company is to issue $33.000.000 debenture notes to finance its purchase of the Steel & Tube company of America. TI. C. C. to Spend Large Sum. The Interstate commerce commis- sion p'ans to spend $45,000,000 during the present year for improvements. British Debt Message Due Today. President Harding is to send ‘his British debt message to congress to- day and leaders in the senate and house predict favorable action by the end of the present session. _—>—__—_ HENRY FORD MUST STAND EXAMINATION. REGARDING AATLAOAD INTENTIONS NEW YORK, Feb. 6. — (United Press.)—Henry Ford must stand ex amination by a commission regard'ng b's plans and intentions tn connection w'th the management of the Detroit. Toleda and Ironton railroad, according to a decision handed down by Supreme. Cour Justice Gavegan. Ford owns 90 per cent of the road's bonds and about 98 per cent of the stock. HELENA, Feb. 6.—Total jof oil transmitted through pipe lines from the Cat Creek and Kevin-Sunburst fields of Montana during 1922 was 2,183,854 barrels, according to reports received by the public service com. mission. Report for December from the Mu- tual Oll company, from the Cat Creek field to Winnett shows 180,251 bar. rels transmitted that month, and brings the total for 1922 for that com- pany to 2,115,699 barrels. During the first seven months of 1922 the Montana Independent Pipe Lines compay transmitted from the Cat Creek ficld 89,168 barreis, ac- cording to its report, and during the last four months of last year the Illin- ois Pipe Line company transmitted from the Kevin-Sunburst field a to- tal of 28,987 barrels. Mid Northern To Test Dome. The Mid-Northetn Oi! company, Montana subsidiary of Midwest Te: fining has a large block of acreage under lease in the Butte district and Plans n-e now being perfected for the placing of a riz in the Button Butte fleid carly In the spring where a deep test will be drilled. The Kootena{ ts exposed at this point and a test will be made of tho sands underlaying this horizon including the Devonian, This member has not yet been tested in Montana outside of one point in the north field with a diamond drill where {t carried ofl and the test will be watched with much interest. NEW Test Started. The rig has been skidded and a new .hole started in the Guernsey structure by a’ Nebraska syndicate which abandoned its first test owing to lost tools which it was unable to recover at around 700 feet. Quite Leon Tanebaum, New York real és- tate dealer, alleges Ford sought to ex- clude himself and other small stock- holders from participating in profits of the road by means of a lease which would turn the property over to an- other company, created by Ford. The order of Justice Gavegan re- quires. Ford to appear for examina- tion before a commiss'on in Detro!t representing the New York supreme court, The road at present is being run at a yearly loss of nearly a quar. ter million, Tanebaum admits, the profits tn which ‘he wishes to share in things of the future. Ford's defense in the hearing which resulted in Judge Gavegan's decision as that he had abandoned the lease to which Tanebaum objected, but nis attorneys refused to agree to an in junction making the abandonment fr. revocable. Seti Georgia Peach ! | ‘has been ordered to appear before the | a showing of of] was found tn the for-| mer operation before its abandonment | which prov the structure to he worthy of @ thorough test and it is! the intention of the syndicate mem. | bers to do so. | Gas Flow Opened. | The Spokane-Sweet Grass company | drilling at a point about six miles! northeast of Shelby, Montana, hi opened @ gas flow of 3,000,000 feet at | a depth of 1250 feet. This flow will be cased off and the hole continued| to the deeper sand where oil is ex-| pected. | Drilling Resumed In Deep Test. | Ater having been tied up since be fore Christmas on account of a bad fishing job drilling has been resumed in the depe test of the Absarokee on section 34-15-30. The hole is now at 1850 feet and the Ellis sand is ex- pected at 2200. The Absarokee has been unsuccessful in its previous op- erations having drilled several dry | Mildred Churchwell of Cordele, |Ga., was chosen the prettiest girl at Wesleyan College, Macon, Ga., the it woman's college in the Dai States. ~—_— or America Armour & Co, 4s - Bactimore and’ Ohio Bethlehem Steel ref. Bethlehem Steel p. Pacific - and St. m. 5 deb., Pa tana Vower, 5- y York Central deb. n t Line G Penn. R. BR. Penn R. R Reading, gen 48 Standard Ot lof Ci Union Pacific ¢ U. S. Rubber, 74s U. 8. Rubber, 6s Utah Power and L! Western Unton Westinghouse E WYOMING FIELD COMPLETION SHOW HEAVY SLUMP IN MONTH Completions in the Wyoming fields during January fell off to the lowest mark in many months, due to curtailment of Salt Creek operations, the number of new wells totalling only 21 with new production of 6,300 barrels a day initial flow as against 37 completions in December with 22,656 barrels. New work also showed a falling off, only 621 rigs being re- ported up and drilling at the end of January as compared with 629 at the end of the year. This condition will obtain until the resume of Salt Cree operations on a large scale, a ques- tion to be decided at a meeting in Casper in Maren of the Rocky Moun: tain Oll & Gas Producers’ associa tion. A gummary of completions by districts, production, and rigs up and drilling follows: ‘Rail Employes Pay Unchanged CHICAGO, Feb. 6—Train, yard and engine service employes of the nation’s railroads today were assured of a continuation of present rates of Pay and rules and working conditions until at least October 1, 1923, in ac- tion that was taken yesterday by the United States railroad labor board. In effect this decision disposed of all Big Four brotherhoods and switch- men’s cases for the present, ———__.. | POTATOES CHICAGO, Feb. 6.—Potatoes dull; recelpts 46 cars; total United States too few sales to es Rigs Stand- Drill. ing ing 67 «1 16 District Salt Creek --13 Big Muddy -- 1 Lance Creek 0 Warm Springs and Ther- mopolis --. Bl Horn Basin = Lost Soldier County Rock River and _Medi- and Carbon cine Bow -- 2 ‘remont unty at Mule Cree! Osage Natron County Lincoln County “---- 0 Baxter Basin Miscellane- ous January tals Comp. Prod. 5,400 45 1 42 | | | | Oil _ Teases, | Teapot townsite. — Mepresentatives 16) wanted. Call or write us. Te: Development Co,, 218 Midwest Bld, Casper, Wvo. 1-8-t! reat estate, owners. of faa t 20! t fat SWAN -UNDERREAME ember Totals Difference Monta Cat Creek Ke v in burst - Miscellane- ous January tals December tals Difference The Demand Exceeded the supply of last year’s INDUSTRIAL NUMBER of the Tribune. Order your extra copies Now year’s ¢ Butter and Eggs CHICAGO, Feb. 6. — Butter higher;! creamery extras 47%4c; standards 45%0; extra firsts 45@46%4c; firsts 43 @44c; seconds 41% @421h0. | Eggs steady; receipts 17.467 cases firsts 32% @33; ord $1¢; miscellantous SWAN UNDERREAMERS Lit and do your part Boosting Casper Phone 15 in AT “YOUR SUPPL BT BUY SALT CREEK Salt Creek Producers Mutual E. T. Williams Consolidated Royalty Earnings of these companies incre during last ninety da) D. B. SULLIVAN, BROKER Phone 1954 231 Midwest Bldg STOCKS Mountain Producers