Casper Daily Tribune Newspaper, May 22, 1923, Page 7

TUESDAY, MAY 22, 1923. —$<——$—$_—_- -—__- —____. -- Finance - TOOLS ARE CHANGED IN BILLY CREEK TEST Rotary Equipment Moved to Location for No. 3 as No. 2 Takes Up Standard the Second Wall The Billy Creek well is shut down at 8,253 feet while the crew is changing from rotary drilling to a standard rig. The work should be completed within a few days and the well will be drilled into the Second Wall Creek where the big gasser was uncorked in the first, well drilled in this section last fall. The hottom of the hole ts now in the first Wall Creek sand where loth gas and ofl were found and 8%- inch casing has been cemented at, feet. The rotary equipment is moved to location for No. 3 nd drilling will soon be started a new test while the No. 2 well | /is completed with standaré tools. The Carter, Consolidated Royalty and Western Exploration companies are jointly interested. The Salt Creek wells of the Carter Goshen Coun Detrott-Wyeming Development com: pany will carry its test in section 9. 22-68, Goshen county, Wyoming, 500] feet deeper from {ts present level of 6.000 feet, according to a program an- nounced following refinancing of the test by Detroit interests. Some §27,- 000 has been raised to continue work which has been suspenced since last fall. Change to Rotary Tools. A change is being made from stand- ard to rotary tools in the second test of the Billy Creek field in Johnson county, Wyoming, where both gas and oll were encountered at 3,253 feet. Casing has been set at 3.077 feet and the sand will be pierced with a ro- tary outfit which will permit mud- ling off of the gas flow. The Carter Consolidated Royalty and Western Exploration companies are jointly interested, Utah O!l Refining company’s producer on section 30-40-78 of falt Creek field is rated at 825 bar- rels at 2,200 feet. In the Lost Soldier field the same Bow the Market Gossip On Operations in Oil Fields Yiinele Pipetine Dividend. NEW YORK, May 22.— Directors of the Pacific Oll company declared ® dividend of $1 a share payable on July 20, The company for the last two years has been paying semi-an- nual dividends of $1.50 each. A state- ment said today ‘action was taken be- cause cf known conditions in the oil industry Ilinois Pipeline Divitent. FINDLAY, Ohio, May 22, — The board of directors of the I:linols Pipe Line company declared a dividend of #8 a share payable June 30, to stock holders of record May 31. Haskell Companies Report New Wells. Of Lease Development, subsidiary of Middle States and Southern States, reports the completion of well No. 3 on its block of acreage in Cowley County, Kansas, making 150 barrels daily of high gravity oil. The well proves another 40-acre lease. It also has drilled in its No. 5 on the Biles- Gilroy lease, Eldorado, Ark., making 300 barrels. On the Johnette lease, me lccality, ‘Southern States Oil has completed @ 250-barrel well. Western States 01) Makes Offer. In anticipation of tie Usting of Western States (ll Corporation stock Money PES | NEW YORK, May 22.—Call money easier; high. 5%; low 4; ruling vats | BX; closing bid 4; offered at 444; inst 1 4; call loans against acceptances | time loans steady; mixed collat- ‘al 60-90 days 5@5%4; 46 months 55%; prime commercial paper 5. Ra TS Sugar NEW YORK, May 22-—The market for refined sugar was unchanged at £9.50 to $9.90 for fine granulated. Withdrawals on old contracts were only moderate and there was little if any new demand in evidence. tures closed steady; approximate rales $,000 tona; July 6,32; September 6. December 5.88; March 4.68. SWAN ERREAMERS “UND SUPPLY STORE | ty Test To Be Carried Over a Mile Deep : Tools to Continue to Creek Formation and the Continental are making sat- isfactory progress. The Carter's op- erations are as follows: Duncan No. 3—Drilling feet. 1 Duncan No. 4—Drilling at 1155 feet. | Hobbs No, 1—Building rig. Richardson No. 7—Rigging up. | Richardson No. 8—Moving in rig. The Continental's Bradley No. 2 cemented and shut down at 2: feet. Brown No. 6 is riggin gup. at 1850) company has cemente? casing at! 1,750 feet in its No. 2 well on section | 2-26-90, The company's Black Mountain! test in northern Wyoming is under- reaming to bottom of hole at 2,390) feet with casing following and on the| Farnham dome, Utah, drilling is still! suspended while waiting for special equipment. Gas was struck in this test recently end it is being tested for helium. Geary Dome Test Cleaning Out. ‘The Geary dome test northeast of Casper of the Carter, Continental Pro- ducing and Fensland oi! companies is drilling at 4,824 feet to clean out hole previously drilled to a depth of 4,881 feet. Polson Spider Test Promising. California Oil company of Wyo- ming is down 800 feet in the Dakota sand in its test on section 18-33-82 of the Poison Spider field, Casper. and Briefs west of} on the New York curb market and the Boston Stock Exchange, Middle States Ofl and Southern States Oil are offering to the holders of, their subsidiary companies shares ai) op- portunity to exchange such stock now owned on a basis of par of ‘Western States Oil stotk for par plus a small cash payment of the subs!- diary stock, as follows: Imperial common, plus $3 a share; Imperial preferred, plus $5; Texas Chief, plus $4; Dominion, plus $4; Ranger Texas, plus $4; Columbia Petroleum, plus $5; Lamb-McGraw, plus $7; and two shares of Western States for ono share of Peters Petroleum preferred, par $25, plus $4. The offer is open until the close of business on May 26, 1923. The Western States Ofl Cor- poration should not be confused with Western States Oil & Land company. Western States to Start New Well - ‘Western States has made a location | in Lance Creek for an offset well to| the good well brought in recently by| the Ohio, It is on the NW% of tho! SEX of section 5-35-65. In Salt Creek, the company’s well) No. 19A, on section 8-3978, ts cemented at 2356 feet through the First Wall|> Creek. Well No. 19A on section 17-39-} 78 is being placed on the pump this) morning. Foreign Exchange NEW YORK, May 22.—Foreign ex-| changes irregular. Quotations in cents. | Great Britain demand 463%; cables | 462%; 60 day bills on banks 461%.) France, demand 6.65; cables 6.65 %.| Italy, demand 4.81%; cables 4,82. Bel- sium, demand 6.74%; cables 5. Germany demand .0017%; .0017%. Holland, demand 39.1 39. Norway, demand 16.24. Swed- en, demand 26. Denmark, 18.5: Switzeland, 18.08; Spain, demand] 15.27. Greece, demand ‘.83. Poland, demand .0021. Szecho Slovakia, de-| mand 2.99. Argentine, demand 36.13. Brazil, demand 10.40. Mont 98 1:82, cables cables | | Potatoes CHICAGO, May 22.—Potatoes dull; receipts 79 cars, total U, 8. Ship- ments 432; Wisconsin sacked round whites 90c@$1.00 cwt; Minnesota sacked Red River Oh!os $1.20 cwt.; Idaho sacked russets $1.50@1.65 cw! poor $1.25@1.45 cwt.; Minnesota sack- ed whites dark mostly 850 cwt.; new stock; barrels firm, sacks weak. Flor- ida barrel spaulding Rose number 1, $8: number 2, $5.75@6; Alabama sacked. Bliss Triumphs number 1, $4. number 2, $3, — Flax Seed. DULUTH, Minn. y finx May $2.86% Beptumber §2.54%; O 5| Corn Cosden 1G |N | ‘|tures 41,87. Bonds - itocks New York Allied Chemical & Dye American Can —_.-____. American Car & Foundry ~.. American International Corp American Locomotive American American American American American Anacona Copper Atchison -.... Ati; Gulf and West Indies .... Ba'dwin Locomotive Baltimore and Ohio Bethlehem Steel California Petroleym Canadian Pacific ~-. Central Leather ~-......_... Cerro de Pasco Copper Chandler Motors Chesapeake and Ohio .. Chicago and Northwestern jcago Mil., and St. Paul pfa. chicago, R. I, and Pao ~. Ghile Copper - Chino Copper Consolidated Gas Products ou Crucible Steel Cuba Cane Sugar pfd .. Erle — mous Players Lasky -----— Asphalt Electric .. neral Motors ‘eat Northern pfd. uf States Steel Nlinois Central -. Inspiration Copper International Harvester Int. Mer. Marine pfd. International Paper Invinc!ble Oil Kelly Springfield Tire Kennecott Copper Lima Locomtive Louisville and Nas Mack Truck Marland Oil Maxwell Motors B -. Micle States Ofl ~~. Missouri Kan and Texas new — Missour! Kan. and ‘Tex. new -. Missouri Pacific pfd New York Central - N. Y., N. H. and Hartford Norfolk and Western Vorthern Pacifio .. Pacific Ofl Pacific Oil Pan American 97% 19 64 35% 26% People’s Gas, |Porducers and Refiners -. Pure Ol veading -. Republic Iron an Sears Roebuck Sinclair Con, Ofl -----—--——- Southern Pacific Southern Railway Standard Ol! of N, J. -----—-- Studebaker Corporation Texas Co. ‘Texas and a Steel --—-—~ 28% 30% 34% 108 44% 21% |Tobacco Products A ‘Transcontinental Oil Union Pacific United Retail Stores -. U. S. Ind. Alcohol --. United States Rubber --------- United States Steel Utah Copper Westinghouse Electric ------. Willys Overland American Zinc, Lead and Sm, - Butte and Superior --—------- Co.crado Fuel ard Iron -. Montana Power National Lead -—~---—----— Shattuck Arizona ----——. Standard Oil Stocks Anglo 15% Buckeye Continental Cumberland Galena Tlinois Indiana Nat, Tran. -. ‘. ¥. Tran. ‘or Pipe Ohio Oil --. Prairie Oil Prairie Pipe Solar Ref. -—----——- Sou Ss. 0. Kan -----———- 0, Ky O, Neb, --------- O. N.Y, —-—-—---- 0. Ohio -—-———-- ‘acuum SP. Oll --—---——-—- 0. Ind. pads Smee 15% 85 41 101 61 97 26% 124 os 198 104 190 98 42 86% 223 35% 288 44% 133 55M Pipe -—-----—--- s. Vv Crude Market | | Cat Creek Lance Creek -. Osage Grass Cree Torchlight Filk Basin Greybull Rock Creek Sait Creek Hamilton Mule Creek Sunburst i Metals NEW YORK, May 22—Copper steady; electrolytic spot and futures, 15% @15%o, Tin easier; spot and fu- Iron steady; prices un- changed. Lead steady; spot 7.25; zince steady; East St. Louls spot and near. by delivery 6.70@6.75. Antimony spot 7.30. Cotton YORK, y %2.—Cotton ; middling $28.66. NEW 1314 |B! Indian 126% | Dongno 46% | Elkhorn 98% | Frantz 152% | Fargo 26% | Gates 7744 | Lance Creek Royalty 26% | Mountain & Guit — 61% | Outwest _. Red Ba 88% | | receipts 4,100; market steady; beet leteers $7.50@ isteers $10.81 be Casper Daily Cridune emer... 24 Burke _ lackstone Salt Creek Chappell Columbine _. — Consolidated Royalty. 1.33 Capitol Pete .. Cow Gulch .. EB. T, Williams - 05 01 27 03 02 02 1.46 15.00 202 Lusk Royalty Mike Henry . New York Oil Rea } Picardy -. E Royalty & Produ Sunset -.. _ Tom Bell Royalty ..... Western Exploration. 3. Wyo-Kan Western Oil Fretas__.. Western States -. Y on NEW YORK CURB CLOSING Mountain Producers -$ 14.87 $ 15.00 Glenrock +90) 18.62 | 9.50 4.87) 10.50 | 55.50 | 150.00 15.00 | 56.00 | 53 70 70 S$. O. Indiana -..._ Cities Service Com. New York Oil Mammoth Oil First 4s Second 4s First 4%s Second 4\s Third 448 Fourth 4%s Victory 4%s 97.81) 97.96 98.41 98.12 Livestock 5 Leaders Recover Chicago Prices. CHICAGO, May 22.—(Unitea States Department of Agriculture.) — Hogs around five to 10 op $7.60; bulk 160 to 225 Pdund pverefres $7.45 @7.55; 225 pound butchers $7.25@7.40; pack: ing sows $606.40; desirable 110 to 130 pound pigs $6.25@6.15; heavy weight hogs $7.10@7.45; medium $7.35@7.60; light 0@7.60; light Mght $6.65@ 7.50; packing sows smooth $6.40@6.85; packing sows rough $5.85@6.50; kill- ing ples $6@7. Cattle receipts 11,000; fairly active [beet steers and yearlings steady to lhe higher; hetter grades heavies showing most advance; top mature few loads $10.75; nu- merous lots $10.25@10.60; best year- lings $10.50; bulk $8.75@10.15; veal calves strong; other classes generally steady% bulk desirable bologna bulls $5.35@5.50; bulk stockers and feeders $7.25@8; bulk vealers to packers early $9.50@10. Sheep receipts 10,000; slow, steady to 25a lower; choice 77 pound lambs $15.25; bulk best medium and handy welght $14.75@15; heavy California yearlings $11; choice 120 pound native ewes $7.50; nine Coubles California springers $17.25@17.40; best natives $17.35. Omaha Quotations. OMAHA, Neb, May 22.—(WU. 8. Department of Agriculture.) — Hogs 13,000; market slow 6@100 lowe miytly 10c lower; bulk packing sows $5.J0@6; bulk butchers $6.95@7; top 7.10. Cattle receipts 8,500; good grades beef steers steady; others slow; spots easier; top $10.25; bulk $8.75@9.75; she stock, bulls and veals steady; bull cows and heifers $6.50@8.25; bulk canners an doutters 4@4.50; bulk bologna bulls $4.75@5; bulk light veals $10.50@12; top $12.50; stockers and fecders steady to strong; $1,050 pound Montana feeders $8.60. Sheep receipts 11,000; fed clipped lambs mostly 15@250 lower; sales $14.40@14.75; few native springers steady to 250 lower; $16.50@17; clon ing 600 lower on springers; $16.25 paid for few cars good California. springers; sheep steady to strong: choice shorn ewes light $8; no feec, ers here. Denver Prices. DENVER, Colo, May 22.— Cattle 25; cows and heifers $4.50@9.00; calves $4.50@13; gotckers nd feeders $6@7.75. 3 Hogs receipts 2,300; market steady to 150 lower; top $7.35; bulk $6.90@ Sheep recetpts 248; market stealy: wooled lambs $15@16 clipped lambs $13.50@14.25; ewes $6.50@7.50. pt doko Abdi Butter and Eggs CHICAGO, May 22.—Butter lower; creamery extras 39%c; standard 30%o; extra firsts 3814@39; firsts 37 @38; seconds 35@36%o. + Eggs higher, receipts 45,806 cases; firsts 25@25%c; ordinary firsts 23@ 22%; miscellaneous 24@24%4; storage pack extras 27%; storage pack firsts 27@274e. ; Silver | SW YORK, May 22 , 66%; Mexican do SLUMP in Late Trading from Heavy Liquid- ation of Morning. NEW YORK, May 22—The reac- tionary trend stock market prices came to a sudden halt today, but not until many of the-leaders had es- tablished new low records for the year. The strong buying support forthcoming at the lower levels in duced extensive short covering which was accelerated by heavy purchsses by so called “bargain hunters” clos ing prices of popular shares show net gains of 1 to 4 points. Sales approximated 1,500,000 shares. NEW YORK, May 22 sontiment was still unsettled at the apening of today’s stock mar opening price changes being de irregular. Good buying suppo: in evidence, however, in some tions of the list, gains of 1 to nea ly 2 points being recorded by Ke Springfield, DuPont and Consoli ed Gas. Selling pressure was effec tive in other quarters, particularly in the rails, new low records for the year being established by Readini Lackawanna and Missouri Pacific Republic Stee! sold at a new low price. Additional new low records for the year were made by Northern Paci- fle, Atchison, St. Paul, “Katy,” Pure Oil, Montgomery Ward, American Linseed, Chandler Motors, Butte and Superior, Kennecott, Utah, Allis Chalmers and Pierce Arrow preferred and Prior preferred, the net losses ranging from one to 4 points. Atlas Powder broke nine points. Other out: standing weak spots were Federal Mining and Smelting preferred, wae 86| South Porto Rican Sugar, American 97.78) Agricultural Chemical preferred, Sloss Sheffield and American Ex- press off one to three points. Several of the usual leaders made partial recovery from recent heavi- ness, gains of 1 to 2 points being recorded by American Locomotive, Studebaker, California Petroleum, American Can, Corn Products, Post- um Cereal, and North American. Foreign exchanges opened irregular, the feature of the early trading be- ing a new low for German marks at .0017%c. Demand sterling ad. vanced % Brenoh francs dropped two points to 65. The buying support accorded to a 240 to} number of influential shares was not] maintained and the whole market sagged again before noon in response to persistent hammering by | bear traders. The volume of sales continuance of liquidation couraged holders of long stocks. United States Steel common again established a new low for the third successive day, touching 95. Additional low records were made by the following: Bethlehem, Republic, Pacifio Oll, Pan American A and B Studebaker, American Beet Sugar, American Woolen, Detroit Edison, Erle and Norfolk and Western. Call money opened at 6% percent. The downward movement in the recognized leaders was arrested in the early afternoon, when huge buy- ing orders made their appearance, carrying active sbares generally a point or more above the forenoon low lev American Can, aClifornia Pe- ‘roleum, Crucible Steel, iets, American Locomtive, Union and New York Central sold 1 to 2 points above yesterday's final figures. Liquidation, however, continued in| many high priced specialties, which| dropped from 3 to 5 points. The closing was strong. The un-| wieldy dimensions of the short inter- est became apparent in the sharp ral- ly that took place in the final hour as traders scrambled for stock. Many of the leaders cancelled their earlier losses and rose as high as four points! above yesterday's final figure. | —————_—. by SOMEWHERE IN FRANCE? 5 HELD OVER FO ONY 6 Owing to the crowds who were turned away again last night, the management of the Columbia has do elded to repeat the big overseas revue. “Bomewhere in France” again to. night. Many who saw it Sunday night were back again last night with the result that hundreds were turned away. The ploture program will change as per usual, ‘Tomorrow will be the regular Indies’ matinee when the Billy Maine com- pany will present “Goldbrick at Home” which is a sequel to thelr first offering and promises to show the company off to even better advantage Billy Maine of course is the same old Goldbrick, but he is at home and has a bunch of rapid fire comedy to un- load that wil! keep you laughing from rine to fall of the curtain. The vaude- ville and ensemble number will be quite different and { anything more interesting. The photoplay, The Other Woman” is one of the best ween | = in many a day and should not be missed. Ee a Cash Grains, CHICAGO, May 22.—Wheat, num ber 1 hard $1.20%; number 1 north ern $1.21, Corn, number 2 mixed, 81% @82% number 2 yellow 83%. Oats, number 2 white 44 number 3 white 48% @44%o. Rye, number 2, 790. Barley 68c. " Timothy weed $5,506,258. Clover seed $12.00@17.00, Pork, of a cent to $4.63% and) j indicated aj} .|only school of landscape architecture ~ Stocks -: Grains “t- cTACK RAING SCORE — Heavy Buying in Late Trad- ing Gives Market Sharp Upward Trend. CHICAGO, May 22.—Wheat took a fresh upturn in price today during the early dealings. Unfavorable crop | reports, especially from the south- west, acted ag the chief bullish influ-| ence. Buying lacked volume, however. | and gains failed to hold well. The pening, which rahged from %c to! Sc higher, with July $1.161%4 to $1.16% and September $1.15 to $1.15% as followed by a moderate further ance and then something of a re- Speculative | a Persistent commis- house buying developed, and the ot scored a more decided upturn, According to one estimate, the pro- sable yield in Oklahoma will be 6 000,000 bushels less than was indicat- ed by the government's May return. Higher prices at Liverpool attracted attention also. The close here was| unsettled at 1% to 2%c net advance, with July $1.18% to $1.18% and Se: tember $1.16% to $'.16%. Unfavorable weather for corn plant- ing gave firmness to corn and oats. After opening unchanged to %4c high er July 75% @%c, the corn market scored a slight general gain. Setbacks which ensued in the corn market, were more than offset later when wheat showed increased| strength. The close was unsettled at % to %c net gain, July 80%c. Oats started unchanged to %o high-| er, July 42c to 42%c, and later con- tinued to harden, Provisions responded to the firm- ness of the grain markets, dospite| lower quotations on hogs. WHEAT— 118% 1.19% 1.16% 80% 80% 79% 42% 42% 40% | |July Sept. RIBS— 1 Sept. — —. —--11.17 11.27 11.17 ----11.45 11.52 11.42 9.45 9.55 9.45 Near Groton, Mass., is America's for women, ‘6 Czechoslovak, Rep., 80, ctfs, Dominion of Canada, 5s, 1952 French Republic, 74s, --——. Japanese, 48 ——_---_-___. Kingdom of Belgium, & Kingdom of Norway Republic of Chile, State of Queensiand, 6s U. K. of G. B. and 1. RAL American Sugar, 63 - American Smelting, 58 American ‘Tel and Tel., cv., American T! Anaconda Copper, Anaconda Copper, At. 'T. and San Fi Baltimore and Ohio ev., 4%s Canadian Pacific deb., 4s —~. Chicago, Mil and St, Paul cv., 4%s Chile Copper, 6s Goodyear Tire §s, 1941 Great Northern 7s A -. Montana Power, 5s A Nothern Pacific ref., 6s Northwestern Bell Tel. Pacific Gas and Electric, 58 Penn. R. R. Gen, bs — Sinclair Con. Oil, Sol, outhern Pacific U. 8. Rubber, 6s Utah Power and Light fs —. Western Union 648 —~ Westinghouse Electric Wilson and Co., ev. RECOGNITION OF MEXICO (5 ASKED BY SOCIALISTS Convention In New York Adopts Resolutions On Suggestion is 6s NEW YORK, May 22,—The Soctal- ist party, in annual convention today adopted a resolution ‘demanding that the United States recognize the pres- ent government in Mexico. Another resolution protested against the imprisonment of approximately 40,000 socialists in soviet Russia and | requested that the soviet government abandon its policy of “persecuting” persons who hold political views at Sis, 1987 _. ILWAY AND NV Bothiehem Steel, con., 6s, Ser. A ———— Chicago, Burlington and Quincy, ref, 6s A variance with those of the govern- ment. Amnesty for all socalled “political prisoners” now in federal prisons was demanded in another resolution, The resolution also deplored what was de scribed as the “persecution” of Upton Sinclair, and demanded repea! of the criminal syndicalism law in Californ Other resolutions called for the na tionalization of all coal mines in the country and condemned “persecu> tion” of negroes in the south. pate dite vibe Bev te: Among the women bank presidents in America is Miss M. O. Movius, whg is the executive head of a national bank in Lidgewood, N. D. SWAN... UNDERREAMERS AT VOUR'SUPPLY STORE LOSE NO CUTTERS’ 210000 THE STATE CHEMIST 4 = = ES AT LARAMIE CRI OD ANALYSIS Finds Hill Crest Water Pure and Soft Sourceiof sample. 222 ae sn Spring .-.. None edimers tire cre oe Snr oe ies A sk None =] = SS = = = a 426 East Second St. Esc IAT Calera ad oe es None Keep Young by Drinking Lots of Hill Crest Water Phone 1151 . UU ’ TTT ALC A WHIT i