Casper Daily Tribune Newspaper, May 3, 1923, Page 7

THURSDAY, MAY 3, 1923. Gove Casper Daily Cribune PAGE SEVER ““PROGRESS SLOW IN BAXTER BASIN FIELD Increase of 650 Barrels Daily in Pipeline Runs of Country Reported by Petroleum Institute; Oklahoma, Texas and Kansas Higher ROCK SPRINGS, Wyo., May 8—Drilling operations in the Baxter Basin field are making slow progress because of in- clement weather and the poor condition of the roads, blow- ing in of the Ohio company’s second big gasser last week be- ing the principal feature of developments, The Associated-Montacal No. 1 is still on a fishing job at 8,030 feet with the bottom joint of casing free from the string. The Producers and Refiners have unloaded several cars of new equip- ment for their lease in the field and ill start active work as soon as the 3 eae are in condition for hauling / material in their location. With the “_-P, & P, material arriving here this week, there are three cars. of gas pipe and there is much speculation as to where this pipe is to be used. It ts rumored that it is the first ship- ment for a pipe line from the field to Rock Springs and that we are to en- joy the comforts of gas for heating purposes within the year. The P. & P. have a franchise for gas into Rock Springs and with the proven. gas field it is not likely they CRUDE OIL OUTPUT TAKES JUMP IN WEEK will long delay their entrance into the city. For several months a pipe line to furnish gas to Salt Lake City and Ogden has been talked of. Surveys have been made, but so far no fran- chise has been secured in these cities. One of the reasons for refusal of the franchise has been the unproven supply of gas. With the blowing in of the well on Thursday this reason fa eliminated and it is now thought that a line will be laid during the coming summer. There {s no limit it seems, to the gas in the Baxter Basin field. The road to the Midwest camp is reported in fair condition, but those to the other camps are still inacces sible because of snow. Blowing in of Ohio Company’s Mammoth Gasser Is Development; Piping of Gas to Salt Lake City Believed Assured Principal , NEW YORK, May 8.—The daily average gross crude oil “production of tho United States increased 650 barrels for the week ended April 28, totaling 1,965,500 barrels, according to the American Petroleum Institute. The daily average pro- duction east of the Rocky Mountains was 1,251,500 barrels, 695,000 barrels, a decrease of 20,000 barrels. z Oklahoma-Kansas showed a daily average gross production of 541,400 barrels, an increase of 9,400; North ‘Texas showed an increase of 2,100; central Texas an incrense of 900; north Louisiana a decrease of 1,260; ond Arkansas a decrease of 700 bar- rels. ‘There was no changes reported in crude ofl prices for the major dis- tricts, Mid-continent be'ng quoted at an increase of 20,650 barrels. California production was $1.40 to $2.50 a barrel, according to the gravity of the oil, Bradford dis- trict $4.00 a barrel and Gulf Coast $1.75 @ barrel. Imports of petroleum (crude and refined oils) for the week ended April 28, totalled 1,611,000 barrels, com- pared with 2,117,500 for the, week ended April 21. Receipts of Califor- nia ofl (crude and refined oi's) for the week ended April 28 totalled 1,024,000 barrels, against 1,575,000 for the ‘week ended April 21. Construction Work Begins A fr Actual construction of the Fargo Pipe Line which will carry ofl from the South Casper Creek field to this city has been started and work of laying a double six-inch line across the river is now in progress. It is expected that this job will be com- ance of the line will be laid. Most of this including pumps and other equipment is now in transit and the Mne should be completed and carry- ing oll by the middle of July. This line consists of aix miles of @iz-inch 2¢pound pipe and the re- maining 16% miles of standard weight six-inch. Only that portion of the line which crosses the river will be double. AJ} seven of the new rigs of the company have been com- pleted and an effort will be made to complete all these new wells during Completions Are Lacking ~~ In Midwest Operations |%:,."«—— Upon New Fargo Pipeline the present drilling season. These wells, which are numbered from 21 to 27 are all located on section 3-33-88 where the big producer was completed a few months ago to the Tensleep and the new operations will be car- ried to the same producing horizon. ‘No. 21 has reached a depth of 1,310 feet and is now cemented through the gas sand. Cement should be set so that drilling can be continued by Friday of this week. Considerable interest is attached to the outcome of this well as it 1s located in the ex- treme south end of the field and its successful completion will add con- siderable acreage to the producing area. No. 22 is in the gas sand at between 1,100. end 1,200 feet and No. 23 was spudded in yesterday. The other holes will be spudded in as fast as rigging up can be accomplished. No completions in the Salt Creek field are reported this week by the Midwest Refining company. The Midway teat well is still stand- ing 4t 4,513 feet, awaiting the arrival of 4% inch casing and the Nefber Dome test well is drilling and under- Teaming at 2,355 feet. ‘The status of the Midest wells in the Baxter Basin field follows: ‘Well 1-X, northeast quarter of seo- tion 36-18-104, depth 1,902 feet, still trying to run 12% inch casing. Well 29, southeast quarter of sec: tion 25-18-1904, cepth 1,645 feet, run- ning spear trying to pull 12% inch casing. Salt Creek Companies to Divide Great Stock Melon DENVER, Colo., May 8—Distrfou- tion of about $9,000,000 surplus con- aisting of holdings of stock in the w Bradford O1l company, a Colo- do corporation, has been decided upon by the directors of the Salt Creek Producers’ association, and the Mountain Producers’ Corporation, it Was annouced here. Salt Creek Producers will distri- bute May 15, to stockholders of record May 10, a total of 598,741 shares of New Bradford stock. On the same date, distribute 480,622 shares Bradford stock. The basia of the d'vidend will be one share of New Bradford stock for each two and a half shares of Salt Creek Producers, and one share of New Bradford for each three and a half shares of Mountain Producers. otf New the Mouniain Producers wil!) The New Bradford Oil company is a holding company owning 1,588,000 and shares o Mountain company stock and 6: stock in the Salt Cree! Oll company. Guilt Ot Cash Grains. CHICAGO, May 38.—Wheat—No. 2 }0; No. 2 hard, $1.22. fo. 2 mixed, 82% @83c; No. Oate—No. 2 white, 46@47%o; No. 3 white, 45% @46Kc. Rye—No. 2, 82%. Barley—63@70c. Timothy seed—$5.00@6.50. Clover seed—$12.00@17.00. Pork—Nominal. Lard—$11.00. Ribs—$9.00@10.00. Co-operative societies are formed by Canadian fishermen. being New York Stocks Allied Chemical Allis Chalmers jAmerican American American American American American jAmerican ‘American tAmerican American American American Anaconda PCS i Re mee ae Atl, Gulf and W. Indies --_. Baldwin Locomotive Baltimore and. Ohio --—.----- Bethlehem Steel B Canadian Pacific -—.---—---- Central Leather ------------ Chandler Motors ——- Chesapeake and Ohio .--—--— Chicago, Mil ah St. Paud ---- Chicago, R. I. and Pao ...--- Chino Copper -—--.=re----—== Colorado Fuel and Iron ~--—-- Corn Products --.----—~-----~ Crucible Steel -. & Dye -------- General Motors Goodrich Co. - Great Northern pfd. Tilinots Central ----- Inspiration Copper nternational Harvester ------ Int. Mer. Marine pfd. ------.-—° 33% International Paper 43% Invinelble Ott Kelly Springfi 52 Kennecott Copper Loulsville and Nashville Mexican Petroleum --.-.------ [0B National Lead -----------. Miami Copper --. Middle States O11 New York Central -.---..---- N. ¥., N. H. and Hartford Ray Consolidated Copper Reaing -—- Rep. Iron and Steel - Royalt Dutch, N. Y- Seairs Roebuck Sinclair Con Of Southern Pacitic Southern Tellway Standard Ol! of N. Studebaker Corporation Tennessee Copper ----~------- Texas Co. Texas and Pacific -—--------- Tobacco Products ------------ ‘Transcontinental Off --------- 9 1T% United Retail Stores ex div -- = U. S. Ind. Alcohol ----------— United States Rubber Willys Overland American Zinc, Lead and Sm/- Butte and Superior -—-.--~ ‘Calan Petroleum Montana Power -—-——-. Shattuck Arizona ----. Chicago and Northwestern 16% 8T ARMED. meemeimerieieeesi 16% Buckeye 83 Continental -----_ 40 40% Cumberland ---------- 113 114 Galena Seer nes TO 110 Tilinojs --—-----—----- 165 167 Indiana -------------- 96 98 Nat. Tran ---—----- 25% 25% N. ¥. Tran —~-. 126 Nor. Pipe -------—~-~ 102 104 61% 69 204 205 Prarile Pipe 106 18. 0. Ky. Solar Ref ----——__-- 190 Sou Pipe 6. O, Kan 8. O. Neb. ~---—------ 8. 0. N, ¥. --——---: 6. 0, Ohio ~~~. Vacuym 8. P. Oil 8. O. Ind -—-----~--- ——_—_— —.. Livestock Chicago Prices. CHICAGO, May 3.—{C. 8. Depart- ment of Agriculture.) — Hogs—Re- celpts, 38,000; slow, around 10c lower; 25; bulk 170 to 225 pound aver- Di 15@8.25; 240 to 325 pound butchers, $7.80@8.10; packing sows, mostly $6.50@6.90; desirable 110 to ; heavy .10; medium, $7.80@8,25; light packing sows, ‘king sows, Pigs, $6.25 smooth, rough, $6.00@6.7 @7.65, Cattle—Receipts, 12,000; slow; beet steers, weak to 15c lower; early top heavy steers, $10.00; few $9.90; some held above $10.00; few early sales, $9.00@9.50; about steaay, bulk beet steers and yearlings, $8.40@9.50; kill- ing quality largely medium to good; run including several strings choloe stoers; she stock, easy, tending lower; $6.65@7.10; pact killing bidding lower on veal calves; vealers early, about steady; stockers and feed- ;] Conaolicated Royalty 1.40 31% 88% 31% 36% o---—~ 116% 10% Union Pacific *+--------------- 135% AND QUOTATIONS BY LEASED ieee STOCK TRADING Bia Equipments and Sugars Ham-| ments and sugars, the latter yielding mered While Other Issues | further outs in raw, refined and Turn Upward. sugar futures. Baldwin dropped 3%,| 1.7 Pullman, Punta Alegre sugar and|xinegom of Belelum —” Cuba cane sugar preferred 2% and} Kingdom of Norway, Sm *#| American Car, American Locomo-| J, k. of G. B. and 1. 5%0, 1029 again Soe sharply in today's | tive, Lima Locomotive, Genera! Elec:|U. K. of G, B. and L. Bim, 1937 : fons market in response to con-léric and Cuban American Sugar 1 to|American Sugar, 6s Sorted bear attacks. Heavy liquida-| points. Fluctuations elsewhere were| American + ev. on of the equipments and sugars | mized, some of the coppers and rail-| American Tel. and Tei., oo extended to the rest of the list, the| ‘oaas going up while the steels andj Armour and Co., 4iss 2s violence of the decline again touch | (utners dropped Balttmore and Oblo, cv., 445 — ing off a number of stop loss orders. | TS Ciosing was weak. Beer trad-| Canadian Pacific deb. Ss -——— French rejection of the German launched another sharp drive on | Chicago, Burlington and Quincy ref. 6s A —— reparation plan, private Albany dis-| °TS ¥4 arp ° 0" | Chicago, Milwaukee and St. Paul cv. 44s patches forecasting the pastage’ of |‘he Seneral list in the lest hour. | Gooayear Tire, Ss, 1981 -—-———— the “Dollar Gas” bill and additional | PUPOnt broke more than five points | Goodyear Tire. cuts in crude off and sugar prices| {Tom its carly high an tive, | Grand ‘Trunk Ry Setiates th American Car, American Locomotive, | Gyand Trunk Ry: of Can © short interests with Re blic Steel, Calif ia Petrol Jort! emmunition for their campaign. epublic eel, orn! etroleum | Great Nor’ hern, 7s A .. ales and all the extensive sugar sghares| Great Northern 5 1-88 B Sales approximated 1,000,000 shares. were fed 2% to 5 points below Mo Kan and Texas, new adj yesterday's final figures. Missourt Pacific gen. 4s United States Steel common, estab- | Montana Power, bs A — Ushed a new low price for. the year, | New York Centra} deb,, below 102. Northern Pacific pr. len 4s = regon Short Ling ref.. 49 -— WHEAT PRICES Standard Oil of Cal. de Union Pacific Y. &. Rubber 5s CLOSE LOWER 08. 208 art Warner and Bosch Magneto also made good recoveries from recent heaviness. Call money opened at 4% percent. Operations in the - cated an apparent lineup of strong speculative interests. DuPont and the Motor accessories shares were a ‘Asiced tower of strength, establishing ad- 4 points. t Dom .of Can,, 5% per cent notes, 1920 ——________ Freneh Republic, 8s ~~. = th Republic, 74s of Belgium, 74s Columbine -.-____._ NEW YORK, May 3.—Stock prices + tra, 5a Mountain & G Oxtwest NEW YORK,” May 8.—Confilcting price movements took place at the Opening of today's stock market with gains and losses about evenly divided. Initial transactions were confined largely to minor specialties. In the equipments, American Locomotive advanced a point and Lima %, wh'le Baldwin yielded slight!y, Cuba Cane sugar preferred and Cuban American were heavy but Punta Alegre ad vanced nearly a point. United Rat} ways investment preferred, Fawous *\yers, Union Pacific and DuPont rdvanced 1 to 1% points. A good demand was noted in the nitial dealings for the independent Reading, gen., 4s x Sinclair Oil Co., The — Mountain Producers -$ 16.75 Glenrock Ot! -.. 21.25 10 50 5.00 11.87 60.50 Pacific Gaa and Blectrio, 68 —— Penn, R. R. Gen, 6%s - U. 8. Rubber, Utah Power and Light 5s tern Union 6%s -. West bt 106 = 105% 103% a rr Penn. R. R. Gen., bs hor July and September Options| tinued firm, but Inter incked sup|Tard— 2 og | Steel, public utitity, motor, oll and port. Jaly —-11.15 12.35 11130 11.15 ieco| rail shares but the gains were of Given Seber Pa Late Bales of corn and oats to go into|Sept. --11.85 1140 1135 1140 54.00] %,,, Moderate character. Brooklyn, bid hha storige here had a bearish effect | Ribs— . ‘son, Stewart Warner Speedometer later. The corn market closed weak,|JUly --- 9.60 9.60 955 9.57 nd Kinney Tobacoo advanced 1 to] CHICAGO, May 8—With freezing|% to %4@% net lowerr, July 81y%@|Sert. -- 9.72 9.82 4 points. Another cut in Pennsyl-| temperatures in Canada and with|% to 81%. Ses tes heck hae raia Crude of! prices was without ef- fect. wheat. After spring; ‘rading. The feature of the forlegn| crop belt, wheat prices took an up- i Aipa lower, rion copryPgeapirnt xchange market was an overnight] ward swing today in the early deal- arket . reak of 4% points in German marks, ings. At first, however, the market which dropped to .0025 cent or 4,000| here reflected a setback in Liverpool to the American dollar. Demand quotations. The Liverpool decline sterling eased slightly to $4,68%]was ascribed to Prospects of en- and French francs dropped four larged shipments from Argentina. points to 6.59 cents, Chicago opening prices, which Early gains ranged from one to| varied from unchanged figures to 4% four points but the rally was not| cent lower, with July 119% to 119% maintained. Sluge'shness of United| and September 118% to % lower, f States eel common and heaviness | lowed by a slight general sag and tf Ba'dwin brought about operations | then by a raise to weyy above yes: or the decline in other quarte! | terday's finish. rainy weather and other unfavorable oats tea on the ofl shares in the early, conditions for the domestic wn Se pperared. it. line Third 4%4s Fourth 4%s Victory 4%s the corn market declined a little more, and then scored slight gains. Oats started % ta%@%o off, July .44%c and later showed something of an advance. Statements showing that western stocks of meats are the largest in many years,, had a bearish effect on the provision market. NEW YORK, May 3.—Foriegn bar silver 67%;: Mexican dollars 61 SWAN UNDERREAMERS Crude Market Cat Creek -. Lance Creek Osage Grass High Low Close Creek Wheat— number of specialties, including] Cotinued improvement tn the win- patat American Hide and Leather pre-|ter wheat crop as shown by reports cans : 1.20% bates ae pia! raat ferred, National Lead and Onyx Hose| from the west and southwest led to Sept. 1.18% 1.18% 117% 117% Greve ‘ropp'ng to new low prices for the| declines in the price of July and| corn— : agree year. Septeriber wheat today during the|May ____ 80% 81% ° .80% .80% s peck Give Around noon when the liquidation | last half of the trading session. The| July 81% 82 "81% 81% T YOUR SUPPLY-STORE 7 Ba of these specialties apparently had| market closed unsettled at the same —— 81% 81% B0%H 80H es been completed, the market became] as yesterday’s finish to %o lowe! steadier. DuPont and Pierce Oil pre-| Ju'y $1.19% to $1-19% and September ferred were each pushed up four] $1 17% to $1.17%. " points, American Express 8%, Stew: Subsequently, May delivery ers, fairly active, strong; bulk desir. — — | YOUR LAST CHANCE $5.85; bulk beef heifers, $6.75@7.40; bulk veal calves to packers, early, around $9.00. ' EVANS OIL CORPORATION of- fers you the last chance for enormous Sheep—recetpts, 10,000; fairly ac: tive; bulk wooled lambs to shippers, speculative profits on Salt Creek acre- age. Wri pcerornh “LOSE-NO CUTTERS Hamilton -. Mule Creek ~~. 43% 44% 43% AB% 44% con- $15.00@15.25; some held higher; clipped lambs, mostly $12.50@12.75; some held higher; few native clipped ewes, averaging 147 pounds, $7.25. Omaha Quotations. OMAHA, Neb., May 3—{U. 6. De- partment of Agriculture)—Hoge—Re- cefpts, 15,000; mostly 15@25c lower; 190 to 225 pound butchers to ship- Pers, $7.40@7.50; top, $7.65; bulk 225 to 825 pound butchers, $7.30@7.40; mostly $7.35; packing sows, $6.25@ 6.40. Cattle—Receipts, 6,000; beef steers, slow, steady to 10@15c lower; early top, $9.25; some held higher; bulk, $8.00@9.00; cows and heifers, slow, shade lower; bulk, $6.00¢7.50; bulls, steady; bulk bolognes, $4.50@4.7 veals, strong; heavies, 25c higher; top, lights, $11.00; stockers and feed- The bit is now pounding down fo- ward the prolific second Wall Creek. It is only a matter of a short time until this well is completed—and with the tapping of this vast reservoir of wealth your chance will be gone forever. You know of the great fortunes that have been made in “The World’s Won- der Oil Pool.” $15.25; bulk fed clipped, $12.25@12.75, with $12.85 bid; best wooled lambs held at $14.90; sheep and feeders, firm; wooled ewes up to $9.25; fed clipped ewes up to $8.00; shearing lambs up to $14.75. Your opportunity to buy stock of EVANS OIL CORPORATION at $1 per share is HERE. It may be gone tomor- row. You know how stocks of companies operating in this field have risen to al- most unbelievable figures with the bringing in of production. Denver Prices, DENVER, Colo., May 3—Cattle— Receipts, 1,263; market steady; bee! steers, $7.00@8.75; cows and heifers, $4.50@7.75; calves, $4.50@18.50; stock- ers and feeders, $6.50@8.00. ‘Hogs—Receipts, 3,362; market 15c to 26e lower; top, $7.70; bulk, $7.40@ 7.60. | Sheep—Receipts, 8,086; market 10c to 15c lower; feeder lambs, $7.00@9.00. Will you take advantage of this golden opportunity as hundreds of oth- ers are doing or will you have only re- grets while your neighbor has profits and independence? You don’t have to be told the possi- bilities of an investment in this field. EVANS OJL CORPORATION is to- day the only company which can and does give you the opportunity to cash in on the enormous profits made possible ae drilling of new acreage in this eld. NOW is the time for decision. Butter and Eggs NOW is the time to act- CHICAGO, May 38.—Butter, lower; creamery extras, 41c; standards, 41c: extra firsts 40@40%c; firsts, 39@ 39%0; seconds, 37@38%c. Eggs, higher; receipts, 25,850 cases; firsts, 26@26%c; ordinary firsts, 28% @24c; miscellaneous, 25@25%4c; storage pack extras, 28%4c; storage pack firsts, 28c, Call at Suite 7, Zuttermeister Bldg., today or Phone 1944-R for a representative to call. SWAN OBEY THAT IMPULSE ! } EVANS OIL CORPORATION AT YOUR SUPPLY STORE IBrRivoe orT THE PIPE FOLLOWS fru