Casper Daily Tribune Newspaper, April 13, 1923, Page 10

PAGE TEN Finance -:- P.& R.GETTING READY FOR TWOTEST WELLS Wildcatting Preparations Started on Bodey Dome and 1 Southwestern Wyoming’ New Producer in Salt Creek Is Now Drilling In Producers & Refiners corporation announce an important test be started soon on Bodey Dome, 30 miles south and slightly west e material is now being hauled to the | I on section 33-31-80. arting a test on Simpson ridge in iing, on the southeast corner of The compa No. 2 section 6-40. standing ce ented. ct Lost Soldier. wells » 4 Wryorlll, saition 11-26-89; 34 irilling at 455 feet apts Ss fo. 3 section 11-26-89, (old well); No. 1 section 18-40-78; drilling in eat ng out. with 400 feet of oil in the hole. Enos Creek. No. section 14-39-78; cemented 8% No. 1 section 26-46-100; drilling at fmch casing at 2,520 feet 2,560 feet. Trustee’s Subdivision to Resume at Pine Mountain Myron W. Whittemore, president; With the wel! of the Alaska Devel- of the Trustee's subdivision, arrived| opment company having topped the recently from Chicago and is arrang-|Tensleep in which ofl was found, the ing for resumption of drilling in| well of the California Of! company the company's well or 34-| nearing completion on land of the $4 In the e Moun Oll corporation, and this well This we which was at a depth of d to completion, the Pine Maun- 22 feet when operations were clos-/ tain field will be thoroughly ested © wn for the winter, will be car: uring the present summer and it is rie to the Telsleep sand which fs ed to prove one o fthe best pro- expected this location at around structures in this part of the 2.700 feet. Greatest Cooper Strike in Miami-Globe Region Today|:: MIAMI, Artz., April 13.—What is);rich native copper ore are being ex @eclared to be the greatest copper| hibited by miners today. strike in the hi of the Miami, The strike is considered one of the Globe district has been made in a greatest events since the opening of this mining district forty years ago drift ¢ the main shaft of the Miami any and today local resi-| and if the extent of the ore body 1s dents ing all the Miam!| proven large it will revolutionize the Coppe possible. present mining methods of the dis 1 the mining com-| trict, it is sald. Low grade ore ts at neither deny nor confirm] present being mined. The newly of the strike. A r-| found ore is described as a sulphide | st come from t and the metal gleams red in it: ices of the company formation instead of the low grade However, sample of extremely | glinting green. Association of Northwest Oil Operators Organized LEWISTOWN, Mont., April 13.—/ tion to these, those chosen as direc. The Northwest Independent Oil asso-| tors are O. E. Wood, Lewistown; E ciation was brought into existence] E. Durrin, Miles City; E. A. Wyatt here at the convention of some fifty] Great Falls; W. 3. Coburn, Winnett: ntified with the refining | W. T. Scully, Dillon; L. H. Schaffer. end of the oll idustry| Helena; C. L. Cobert, Deer Lodge; J. A constitution was|G. Everett, Forsyth; F. R. Savage, adopted the convention at the| Miles City morning session Thurs¢ and the| The constitution makes eligible to following officers were elected for the| membership all refiners, independent wing : H. Earl Clank, Harve,| oil operators and those engaged in presider Demers, Lewistown,|the sale of production supplies. It vice © t; C. H. Brown, Lewis-| was decided to hold the next meeting town, ary-treasurer. In addi-/at Lewistown six months hence. Old and New Tests to Be Completed Near Douglas AND OIL isN | ec PAGE weil-3 was starte ‘se elk uted by A. H. Cobb, vice prest nt of the Big Indian company and © South Dakota concern was rep- resented by D. E. Armour of Alliance, Neb.; G. W. Bartholomew, geologist r the Big Indian and one of the olders, was also present when was put through. ng this w on the lease th ne it miles on the ground and setting up the} It ts understood ‘that under -the and t of the program was|terms of the lease that the Big In. complete ay afternoon. The) (ian will_recelve fifty percent of al test well ded Monday action from the lands. The mort ing num par been shut down for the past two years and was drilled to « depth f about 1,600 feet. D the aeeeeeecerres Potatoes | t CHICAGO, April 13. — Potatoes to stronger on white stock Ite ady on other stock; receipts, 105 total U: Viscons ited States shipments, nm sacked round whit Bonds -:- New York Stocks Allied Chemical & Dye ex div.. 72% | Lusk Royalty he Casper Daily Cridu: Stocks -:- AND QUOTATIONS BY LEASED Oil Securities (By Wilson. Cranmer & Company) LOCAL OIL STOCKS Bid ‘Asked Bessemer 23 25 Big Indian 24 .26 Boston Wyoming —-----1.00 1.25 | Buck Creek _ 16 18 Burke __ 29 -33 Black Stone Salt Creek 24 . 26 Chappell _. 43 45 | Columbine OAs aq | Consolidated Royalty. 1.49 152 Capital Pete 00% 00% Cow Gulch 202 Domino -16 horn 06 T. Williams 83 Frantz 5.50 | Gates _ 05 Kinney — -33 | Jupiter — Kinney Coastal Mountain & Gulf __ Lance Creek Royalty. .03 | Mike Henry _ alty & Producers — Sunset Tom Bell Royalty — Allis Chalmers -—-________48% B American Beet Sugar 44% American Can ------.--_ 96% American Car & Foundry 180 American Hide & Leather pf. 62 American International Corp - 30% American Locomotive ~------. 134% American Smelting & Refg. -— 63% American Sugar ------_-___ 78% American Sumatra Tobacco -. 30B American T. and T. —_. 122% American Tobacco -. 154% American Woolen -. 100% Anaconda Copper -________ 49 Ttchison --u--. bit — 101% Atl, Gulf and W. Indies 27% Baldwin Locomotive 139% | Baltimore and Ohio 51% Bethlehem Steel B 65 Canadian Pacific —_ 149% Ceneral Leather — 33% Chandler Motors ——______ 70% Chesapeake and Ohio -—-_____ 70% Chicago, R. I. and Pac. 33% Ching Copper -— i 27% Coloradé Fuel and Iron ~ 27B Corn Products 125% | Crucible Steel 8144 Erle ... 11% Famous Players Lasky 83 48 181 15% 4 ae | Northern pfd. ‘s Great pis Centra’ Copper Harvester -- 143 | 37% | -88% B nation: Int. Mer. Marine pfd. -. - 36% International Paper -—. - 49 Invincible Of] ~~~... - 17%} Kelly Springfield Tire — 60% Kennecott Copper 4044 Loujsville and Mexii Petroleum Miam! Copper Middle States Oil Midvale Steet Missourt Pacifico New York Central — N. ¥., N. H. and Hartford 18% | 5 fk and Western - - 109% Northern Pacific — - 4 he ea Prod. and Ref. - 2% tific Ol -... - 39%) 1 American Petroleum - 10% Pennsylvania. -..---—.. 45% | People's Gas -. ns, 89% | Pure O!l - 27% | Ray Consolidated Copper 14% | Reading 76% | Rep. Iron and Steel —. 64% | Royalt Dutch, N. ¥. 51m Sears Roebuck ~ 86 | Sinclair Con Of — 34% athern Pacific 90% Southern Railway . Standaré O11 of N. J. Studebaker Corporation nnessee Copper cas Co. as and Pacific -. acco Products scontinental nion ted s oul ui! Stores Ind “Alcohol I United States Rubber — United States Steal ~—_. Utah Copper --.. Westinghouse Electric ~~. ™) American Zinc, Lead and Sm. 15 Butte and Superior pi 32 la Petroleum - 92%) Montana Pow@r 67% B Shattuck Arizona 8%B Great Northern Ore —~. - 32% cago Northewestern -. Bie si Maxwell Motors B — 66% American Linseed Ot] - 81% Cosden -. 56 CRE ager Pe Standard Oil Stocks Anglo ees eee | |’ 16% Buckeye ---J.... 89 20 Cumberland 112 113 Galena . 68% 16 Illinois 165 166 | Imd a - - 100 102 Nat. Tran. 25% 25%! N. Y. Tran 130 131 Nor. Pipe 108 109 Ohio Ot Prairie Ol 219 Prairle Pipe 108% ar Ref. — 198 2. Pipe (cas 112 S. 0, Kan. 47 oO. eb. -. 235.- 0.) Na ike 44 Oy ORIG sirens 305 | Vacuum .. 50% 8s. P. on 161 Ss. O. In&@ 63% | Foreign Exchange NEW YORK, April 13.—Foreign ex- changes easy; quotations in cents:| Great Britain demand 4.65%, cables 4 %, 60 day bills on banks 4.63% rance demand 6.69%, cables 6.69%; Italy demand 4.99, cables 4.99%; Bel- gium demand 5.79%, cables 5.80; Ger- 2 $1.25@1.40; Minnesota acked Red aad R Ohios, $1.15@1.25 ewt.; Idaho ture na Rurals, $1.25@1.40 cwt.; Idaho, ked ntana sacked issets, 2.00@ Russets, — ewt.; | owt $2.00 have which Mc Complete CHICAGO, April 13,—Butter lower; | reamery extras, 46%c; standards, | t 1 extra fi 8, 45% @46c; firsts, 15@4 neconds, 44%. pt fh many demand .0047%, cables .0047% Holland demand 89.15, cables 29.18; Norway demand 17.94; Sweden de- mand 26.69; Denmark demand 18.86; Switzerland demand 18.20; Spain de- mand 15.33; Greece demand 1.15; Poland, demand .0024; Czecho-Slovakia demand 2.98; Argentine demand 36. Brazt] demand 11.00; Montreal 97 15-16. zs be ae ley Sugar NEW YORK, April 13.-—Sugar fu res closed steady, approximate 000 tons, May $5.86; July, ptember, $6.21; December, No changes were reported in refined ar but the demand is less activa, | Lance Creek | Muie Creek rices are quoted at $9.20 to $9.40 for granul id, i ‘ Western Exploration Wyo-Kans. -.____ | Western O11 Fields_. Western States e ¥Y ou - .08 -10 NEW YORK 5 CLOSING Mountain Producers _$ 17.00 $ 17 Glenrock Ol _ 1.06 Salt Creek Prds. -. 22.62 Salt Creek Cons. -._ 11.87 Marine — 5.00 Mutual. 12.37 S. O. Indiana 63.50 Cities Service Com. -- 161.00 York Ol ---__ 14.00 fammoth Oil 49.50 LIBERTY sonps Second 4%s - Third 4%s Fourth 4s Victory 4% Crude Market Rock Creek Salt Croek Cat Creek Osage Big Muddy Hemilton Grass Creek Terchlight El« Basin Greybull Sunburst Livestock Chicago Prices. CHICAGO, April 13.—{U. 8. De- partment of Agriculture.)—Hogs— Receipts, 27,000; fairly active; mostly to shippers and small packers; strong | with Thursday’s average; bulk 160 to 220 pound weight, $8.35@8.45; top. $8.50; 240 to 825 pound butchers, $8.05@8.30; packing sows, mostly 7.10@7.30; desirable 100 to 130 pound pigs, $7.00@7.50; plain light kind $6.75 down; heavyweight hogs, $7.75@ ; medium, $8.20@8.50; light, $8.10 @8.50; light ght, $7.00@8.40; pack- ing sows, smooth, $7.10@7.50; packing sows, rough, $7.00@7.16; killing pigs; 36.50@7.65. Cattle—Recetpts, 5,000; beef steers, uneven; killing quality, plain; better grades, about steady; others, weak ts top matured steers, $9.80; few , $8.25@8.60; bulk beef steers; $8.00@9.25; stockers and feeder: un evenly lower, mostly 10c to Ibe off, country demand dull; beet cows and heifers, fairly active, fully steady other classes, generally steady; some | desirable vealers shade higher. Sheep—Receipts, 8,000; practically nothing done; bidding weak to 25 lower on lambs; asking steady to shade higher prices; receipts mostly Colorado and Nebraska fed lambs; shorn description _ predominating: sheep, scarce, around steady; run in eludes about 900 direct to packers. Omaha Quotations. OMAHA, Neb., April 13.—(U. 8. De partment of Agriculture.)—Hogs—Re cefpts, 11,500; market slow; butcher hogs, steady to 5c lower; bulk, $7.85@ 7.90; mostly $7.85; practical top, $7.95; part load, $8.00; packing grades, steady; bulk sows, $7.00; stags, $6.00. Cattle—Receipts, 2,200; killing cat- tle, generally steady; market moder- ately active; best fed steers, $9.00; bulk, $8.00@8.75; bulls and veais, slow and weak; stockers and feeders, unchanged. Sheep — Receipts, bulk wooled lambs, $13.90@14.00; top, $14.25; native spring lambs, $14.25@14.75; California springers $14.50; fed clipped, $9.50@10.75; no choice light clipped lambs here; sheep and feeders, steady; few loads Cali- fornia spring lambs for feeders at $11.50. 5,500; steady; Denver Preies. DENVER, Colo., April 13 —Receipts, 180; market steady; beet steers, $7.00@9.25; cows and heifers, $4.5007.75; calves, $4.50@12.00; stock- ers and feeders, $6.50@38.00. Hogs—Receipts, 400; market steady; top, $8.05; bulk, $7.75@7.90, Sheep—Receipts, 4,800; market 100 to 15c higher; lambs, $12.75@13.75; feeder lambs, $12.75@13.65; ewes, $4.50@8.25, es Cotton w cot YORK, April 13. middling, $29 Spot quiet Grains - STOCK DEMAND (WHEAT PRICES IS IMPROVED, SLOSEHIGHER 3 Weakness Develops in After- noon Trading but Day’s Trading Is Upward, NEW YORK, April 13.—¥Further re- Taxation of money rates and the nt credit conditions disclosed weekly report of the federal system caused a moderate re- vival of bullish sentiment in today's stock market. Sporadic short selling developed in a few quarters but it failed to bring out any large volume of stock. Net gains in the active issues ranged from one to three points. Sales approximated 900,000 shares. the in reserve Ww YORK, April 13.—¥Further reductions in the re-discounts and note circulation in the local federal reserve bank had @ constructive effec: on prices at the opening of today’s stock market. Further recovery from recent heaviness was made by the , automotive, rubber and independ steel shares, most of the open being fractionally above 's closing figures. ‘The early buying embraced a wide rtment of shares. Gains of 1 ints were recorded by such widely sales diversified issues as United Fruit, Reynolds Tobacco “B,” United Retai! Stores, Industrial Alcohol, Mack uck, American Waterworks, United investment preferred, Allied al and General Asphalt. Amer: 8 continued under selling elding 1% points. Public w Jersey reacted slight Foreign exchanges opened firm nd sterling was quoted at 4, up % and French francs ad vanced two points to 6.70% cents, Prices continued thelr upward urse throughout the morning. Lower rates for money with indica tions of an abundant supply ayail- able for a stock market operations, higher sugar prices, record breaking March copper shipments and further evidences of expanding business pros perity all contributed to the more cheerful sentiment. General inter pretation of the recent reaction by commission houses as a correction of a weakened technical position was reflected in the heavy buying orders from that source. While industrials were most in demand, a better in- quiry was noted for the railroad shares, particularly the low priced issues. Some of the outstanding strong spots were tablished a hi ner, Reynolds acco “B" and Stromberg Carburetor, the gains ranging from 2% to 4 points. Call money opened at 4% per. cent. While a number of prominent stocks made further headway upward notably Crucible and Gulf States Steels, Reynolds Tobacco “B" and Investment railroad shares, weakness cropped out again in many quarters. Several of the leathers, chemical ship ping, sugar and oil shares were de cidedly heavy, also Delaware and Hudson. The closing was firm. Professional traders covered more freely in the ate dealings when it became evident that stocks recently bought for sup porting purposes were not being soid on the rally. Tobacco shares were conspicuously strong. Delaware and Hudson and the Mercantile Marine issues yielded moderately to. selling pressure. Deep Waterways Opposition Is Voiced, Report Dupont which es new Stewart War. SASKATOON, Sask., April 13.— Vigorous opposition to the St. Law. rence deep waterways project was xpressed by Premier John Oliver in an address last night, in which he said it simply would add further water competition at a tremendous cost. The chief present need, he said, was more rail traffic to make pos- sible further, reductions in railway rates and a greater net profit to the roads. He criticized the sentiment of those who sought to create further water- ways, while the Pacific was unused, ‘The Almighty God gave the Pa- cific ocean for man to use,” he sald, ‘and the Almighty {s stronger than the Canadian parliament. “The Pacific ocean shall be used for transportation. The reduction of six cents per hundred pounds which we won last year has started a move ment of trade westward which the parliament of Canada is powerless to stop.” Five Railroads Merge Interests COLUMBUS, Ohio, April 13.—Con- solidation of five middle western rall- roads under the direttion of the Van Sweringen interests of Cleveland, was ‘consummated officially here today ‘when incorporation papers for the consolidated road, which will be known as the New York, Chicago and St. Louis, were filed with tho secre- tary of state. Money NEW YORK, April 13.—Call money easier; high 4%; low 4%; ruling rate] 4%: closing bid 4%; offered at 4% last loan 4%; call loans against ac- ceptances 4; time loans easier; mixed, collateral 60-90 dys 5% @5%; 46 months 5%@5%; prime commercial paper 5@5%. | Liverpool Gains 1 and Bullish! Crop News Result in In- creased Demand. CHICAGO, April 13.—With un- favorable weather both in the north- west and southwest and with an ad- vance in Liverpool quotations, the wheat market here took a decided up- ward swing today during the early dealings. Particular notice was given to the action of the Liverpool mar- ket, the advance there being in the face of a decline yesterday in Amer- lca. Dispatches from Liverpool re-| ferred to a good demand there from European continental countries. Chi- cago opening prices, which varied from %c decline to %c gain, with May $1.24% to $1.24%, and July $1.22% to $1.22%, were followed by slight general setback and then by a sharp upturn all around, July and September touching new high price records for the season. Subsequently, estimates that 750,000 to 1,000,000 bushels largely domestic, had been taken for shipment to Europe had a bullish influence. The close was unsettled, %c to 1%c net higher, with May $1.25% to $1.25% and July $1.23 to $1.23%. Corn and oats were affected by the wheat advance. After opening %c to %@%e higher, May 80%c to 80% @ ic, the corn market sagged a little then and gains. Commission house selling in small lots assumed a persistent character | later, and led to a drop in prices at| scored moderate general the \ last. 4c to %o net lower, May 80%c. Oats started %4o lower to a like ad vance, May 46c and Inter showed gains for all deliveries. Provisions sympathized with the strength of grain. Wheat— Open High Low Close May ----1.24% 1.26% % July 1.22% 1.24% Sept. 1.20% 1.22% Corn— May - .80% 81% July 82% 82% Sept. 82% 83% Oats— 46% © 45% AT 4644 Abt = 45% 11.77 11.70 11.97 11.87 10.25 10.22 x 10.57 10.50 10.55 Cash Grains. CHICAGO, Aprii 13.—Wheat—No, red, $1.35%%; No. 2 hard, $1.26@1.: Corn—No. 2 mixed, 82@82%c; No. yellow, 82% @83c. Oats—No. 2 white, white, 46% @47%c. Rye—No 2, 87kc. Barley—62@73c. Timothy seed—$5.00@6.50. Clover seed—$13.00@18.50. Pork—Nominal. Lard—$11.67. Ribs—$9.75 @10.75. MEX LABOR TO GROW BEETS FORT WORTH, Texas, April 18.— Sending 3,000 Mexican laborers to the sugar beet fields of Colorado will 47% @48c; start from here Monday, according to | announcement by Municipal Labor Agent W. L. George. They will be re- cruited here by an employment bu- reau. Metals NEW YORK, April 13—Copper steady; electrolytic spot and futures, 17% @17 Ke. Tin easy Iron steady, Lead steady; spot, $8.25. Zinc steady; East St. Louis spot and nearby delivery, $7.45@7.50. Antimony spot, $8.50. Thomas Lawson Willing to Take Smokes for Car spot and futures, $46.62. prices unchanged. BOSTON, Mass., April 13—Thomas W. Lawson, sportsman, stock market operator and author, has Advertised for sale in Boston newspapers “tho best car in the world.” After des- cribing the automobile in glowing terms the advertisement, signed by Lawson, said. “As I am completely out of cigars! for summer smoking, I will take five thousand $1 cigars in leu of cash.” | SWAN UNDERREAMERS - AT YOUR SUPPLY STORE BripcerortT THE PIPE FOLLOWS Livestock -:- The market closed nervous, | © ant FRIDAY, APRIL 13, 1923. All Markets Dom of Can., 6% per cent, 1920 - - 101% 10056 French Republic, 88 7 geege + Sone |French Republic, 74s — 24%" 96 Kingdom of Belgium -. - 100% 100 Kingdom of Belgium, 6s - 100% Kingdom of Norway, 83 98 U. K. of G. B, & L., 5%s, 1929 pe . K. of G. B. & L, Bis, 1937 |American Sugar 68 |American Tel. and Tel. American Tel. and Tel. Armour & Co., 4%s Baltimore and Ohio ccv. Bethlehem Steel ref., 58 | Bethlehem Steel p. m. 6s Canadian Pacific deb., 5s | Chicago, Burlington and Quni | Chicago, Mil., and St. Paul cc Goodyear Tire 8s, 1931 Goodyear Tire, 89, 1941 Grand Trunk Ry of Can. Grand Trunk Ry. Great Northern 7s A —. Great Northern, 5 1-38 Mo. Kan, and Texas new, adj., 6s A - Missouri Pacific gen., Montana Power, 5s A New York Central Deb., 102 Ts of Can., 6s Northern Pacific pr. lien, 4s Oregon Short Line ref., 4s Pacific Gas and Electric, 5s — Penn, R. R. Gen., | Penn. R. R. Gen., Reading Gen., 4s | Sinclair Ol1 Co., 7% Standard O1 lof Cal., 6%s 5s - | Union Pacific first, 4s U. 8. Rubber, 7%s | U. 8. Rubber, 58 _ Utah Power and Light. Wostern Union, 634s Westinghouse Hlectric, 8s Market Gossip and Briefs On Operations in Oil Fields Terman Oil Declares Extra yer an@ Rio Grande Western rafl- Dividend. road for authority to issue and sell Turman Oil, a Middle States subsid-| $4,500.000 in equipment trust certif- | ‘ary, announces its regular one per| {cates at not less than 96 per cent cent monthly dividend for April, May/of par. and June, making 3 per ccent for the current quarter, and an extra divid- end of 1 per cent for the month of April, the tatter paybale on May 20, to stock of record April 80. It is officially announced that Of | BOSTON, April 18.—The Calumet | and Hecla Mining company announc- | ed u dividend of $10 a share payable June 15 to stockholders of record on | April 14. A payment of $7 a share prpestg Pat coer a ce gai oes was made on March 15. The total stock of which is owned one-third | payment last year was $10 a share. each by Middle States, uthern ee ates aid the stockholders of Mid. dle States, will go on a dividend-pay-| ing basis in June. This places every subsidiary of Middle States and| Southern States, of which there {s| any outstanding stock in the hands of the public, on a dividend basis. Certificate, Issue Okehed. WASHINGTON, April 13—The tn-] Rug! Rugs! Rugs! Why p: terstate commerce commission has|whon you can buy for less approved the application of the Den- ham Shields F: urniture Co. Silver NEW YORK, April 13.—Foreign bar silver, 66%; Mexican dollars, 5044. ———_. more at G PIPE WRENCHES Double Acting Jaws Non Slip Adjustment Will Not Crush Pipe TWO IN ONE Buy a set of Monkey Wrench Jaws to fit your Larco Pipe Wrench SIZES 10’, 14", Note Frame 18?” Construction Guaranteed un- breakable under any strain or side pull— Jaws cannot get out of line— Use a Larco on your next job—and get a new kind of wrench satisfaction. Pipe wrench sizes—S’,10’,14", 18", 24 Your supply house has them or write LARCO WRENCH & MFG. CORPORATION CHICAGO, ILLINOIS Casing and Tools Can make 80-day mill shipment on new pipe. Have all sizes and weights A-1 used casing. Several strings Standard drilling tools, also Stars and Na- tionals. New Star outfits on liberal terms. J. C, Rob- erts, Hotel Henning. UNDERREAMERS £ AT YOUR'SUPPLY STORE BRinpcerortTr ‘LOSE'NO CUTTERS” ASK THE WAITER To Serve You HILL CREST WATER