Casper Daily Tribune Newspaper, June 12, 1923, Page 6

PAGE SIX. Oil -:- Finance -: P.& R. To Test Out ¢, Effort Will Be Made to Go Through Heavy Gas Pres- sure to Underlying Sands That Are Thought to Be Oil Bearing RIVERTON, Wyo., June 11.—The Producers and Refiners corporation have planned a very active drilling campaign to be carried out in the Sand announce that they will exert every effort to go through the theavy gas pressure to explore believed to be oil bearing. Field erintendent Palmer now has a crew of mon at work cleaning @ hole known as well No. 2 on Sec- tion 9, that was previously drilling 09 fect and as soon as possible drilling will be resumed with the intention of making a deep test. ‘This well ts situated in about the cen- ter of the company’s holdings in the feta to a depth Billy Creek Well To Be Drilled to The Carter Oil company has the gas shut in at its Billy Creek well re- cently brought in as a mammoth gas- ser ahd {is preparing to mud off the gas and to drill on down to the Muddy sands. The sand is expected to be foynd at about 300 feet below the present depth of the well. The mud ding off ts expected to take several weeks work. The company’s No. 3 well on the fame structure ie down 1640 feet and drilling. Draw field this summer and the underlying sands that are Rig builders will be in the fiel@ soon to erect a new rig to be placed on a location not yet made public, One or two other holes may be drilled deep- er and other new locations attempted. If present plans do not miscarry from two to five strings will be actively drilling in the field within the next few weeks. Muddy, Sands ‘The Carters operations in the Salt Creek field are as follows: Duncan No. 3—2259 feet; drilling. Duncan No. 5—2345 feet; mudding off $ inch. Hobbs No. 1—rig standing. Richardson No. 7—1845 feet; drill. ing. Richardson No. 8—rig on location. The Continental is rigging up its Black No. 7 at Salt Creek. Black No. 8 is moving in tools and Brown No. 5 is rigged up and shut down tem- porarily. Market Gossi Acquire New Lenses. RIVERTON, Wyo., June 11.— J. R. Munce and W. C. Spooner of Shreveport, La. Fred Crawford of Columbus, Ohio, Warwic M. Downing of Denver and Joseph C. O'Mahoney of Cheyenne came in last Friday to look after oil interests in the county. ‘These men are interested in the Hamilton dome structure, While there they acquired some other oil locations which will be developed. Mr. O'Mahoney and Downing were accompanied by their wives. Drilling to Begin. RAWLINS, Wyo., June 11—A. G. Gehr, manager of the Fremont Pe- troleum company, was in the city the first of the week looking after business matters pertaining to his company. Mr. Gehr states that the rig of the company in the Crook's Gap dome ts being skidded to a new location and that active drilling operations on a hew hole will be started immediate- ly. NEW YORK, June 12-—The mar- ket for refined sugar was unsettled. There were no changes in list prices which range from $9.75 to $9.90 for fine granulated, but one refiner an- p and Briefs On Operations in Oil Fields nounced he would accept business at $9.05. Sugar futures closed steady ap- proximate sales 31,000 tons. July 576; September 5’ December 6.27; March 4.07. Metals NEW YORK, June 12%—Copper firm; eléctrolytic spot and futures 15@15%. Tin easy; spot and nearby $42.00; futu $41. Iron stead: prices unch epot $7.26. Z Louts spot and nearby dolivery §6.15. Antimony spot $6.75. ane 12.—Standard cop: futures L68, 10m; elec LONDON, | L638; wlytic spot L74, 10s; futures L75 tin, spot L197, 28 6d; futures 1.197, 10s; lead, spot 126; futures 125, zinc, mpot un 6d, L30, Tm Gd} futures 130, —_- Grains 12.—Wh amber 1 83; number number @ white white 49@44% Barley 62@06. 6.50 Cash Jur yel 440 Tim: Clover weed 15 nominal, Lard 11.3 eee “AT-YOUR: Br ISSserorT wie THE PIPE FOLLOWS" ‘The new well will be @rilled on the NW% of section 329, township 37, range 92. Well Makes Progress. RAWLINS, Wyo., June 11 ing at the —Hatfield _Oil company well, located 11 miles south of Raw- lins, 1s progressing satisfactorily and last night the well was down ap- proximately 300 feet. Driller Hatfield is at present time making approximately 100 feet per day and at the present rate of pro- gress the well will be down to the oil sands in record time. The equipment of the Hatfield O11 company {is of the very best and every precaution has been taken to prevent accidents of any. kind to the hole. NEW YORK, June 12—Domes Mines Company, lmited, today de- clared a $1 quarterly dividend pay- able July 20. Dome was placed on a 60 cents quarterly basis in June 1922. Prior to that the rate was 25c a quarter. AMERICAN SMELTING CO- RESUMES DIVIDEND AFTER MORE THAN TWO YEARS NEW YORK, June 13,—The Am- erican Smelting and Refining com- Pany today resumed dividends on the common stock, declaring a quarterly payment of 1 %per cent. The last dividend on this stock was in March 1921 when $1 was declared. The quarterly dividend of 1% per cent on preferred also was declared. ————<.—_—_—_ Foreign Exchange NEW YORK, June -12.—Foreign exchange easy; quotations in cents: Great Britain demand 461%; cables 461%; sixty day bills on banks 459%. France demand 639%; cables 640. Italy demands 463%; cables 464, Bel- gium demand 651%; cables 552. Ger many demand .0011%; cables .0011%. Holland demand 3917; cables 3920. Norway demand 1660; Sweden de- mand 2658; Denmark demand 1750; witzerland demand 1797; Spain de- mand 1499; Greece demand 290; Po- land demand .0018; Czecho Slovakia demand 298; Argentine demand 3540; Brazil demand 1025; Montreal 97 21 New York Stocks - Sand Draw Structure|asomesoe nee OMe American Can -..---.. --- 8% American Car and Foundry -- 171 American International Corp . 21%, American Locomotive —.. - 140% American 61% American 2% American Amerimn American Anaconda Bethlehem Steel California Petroleum Canadian Pacific Central Leather Chandler Motors -.. Chesapeake and Ohio Chile Copper Chino Copper Consolidated Ges Corn Products Cosden Oil Crucible Steel Erile Famous General General Genera! Motors Great Northern pfd Gulf States Steel Illinois Central Cerro de Pasco Copper ----. Chicago and Northwestern Chicago, Mil. and St, Paul pfd Chicago, R. I. and Pac. Cuba, Cane Sugar pfa. -—----- 124% 90% 45% Inspiration Copper -—---. International Harvest: Int. International Paper Invincible Oil Kennecott Copper Lima Locomotive - Louisville anc) Nash Mack ‘Truck Marland OMl -—. Maxwell Motors B Middle States Ol! Mer. Marine pfd. - Kelly Springfield Tiire -—----- Missouri, Kan., and Tex new Missouri Pacfic pfd. New York Central --. Norfolk and Western Northern Pacfic Pacific Otl Pan American Petroleum B Pennsylvania People's Gas -. Producers and Refiners Pure Oil Reading -. Republic Iron and Steel - Sears Roebuck Sinclair Con Ot! Southern Pacific Southern Railway N. ¥., N, H., and Hartford -- Che Casper Daily Cri - Bonds -:- Stocks Chappell a---- 00% Consolidated Royalty _ 1.30 Cow Gulch . mom) OL Lance Creek Royalty. Lusk Royalty --...-... .01 Mike Henry — Mountain & Gulf New York Oil -_. Picardy __. s Royalty & Producers. Sunset Tom Bel’ Royalty Western Exploration Western States FO... NEW YORK CURB Meauntain Producers -$ 15.00 Mammoth 50.00 Glenrock Oil 1.00 17.62 9.00 12.00 Marine Mutual 8s. O. Cities Service Com. -. 15300 Fourth 4%(8 ~--c----enenn—- Livestock CHICAGO, June 12.{U. S. Depart- ment of Agriculture)—Hogs receipts 29,000, mostly 5 @ 10c higher; top 685; bulk 180 to 325 pound averages Studebaker Corporation Texas Co. ---,-. ‘Texas and Pacific Tobacco Producta A ‘Transcontinental Oil Uniqn Placitio --. United Retatil Stores U. 8. Ind Alcohol - United States Rubber --—---- United States Steel -----———- Utah Copper -—. Willys Overland American Zinc. Lead and 8: Butte and Superior -. Colorado Fuel and Iron ------ Mbntana [Power National Lead Shattuck Arizona Ange Buckaye Calena Rock Creek Salt Creek Hamilton Mule Creek Sunburst QVER ON HORSE THEFT At the conclusion of a hearing which lasted several hours tn Justice Brennan's court Monday evening, N. J. Martin, dirt contractor of North Casper, was bound over under bond of $2,000 to the fall term of court, char with the theft of a pair of work horses belonging to Wil-| m Wenner of Casper | Martin is alleged to have taken the! mals off the range northeast of and to have taken them to handling a cago | For furnit prices \ Harned <. Phone re! Co, John South mines Continental —————- Cumberland ——___—_ 100 Westinghouse Electric -—--—-- 15 34 39 eee STS 108 159 96 — Storey, the premi Wales, was wor! im. — er of ‘ales, ‘king in the at eleven years of Standard Oil Stocks New age and la ter followed the trade of a boiler maker. Money NEW YORK, June 12.—Call money easy; high five; low 4%; ruling rate Offered at 4%; 5; closing bid 4%. ast loan 414; ceptances 4%; time mixed collateral 60-90 aor 2 Flax Seed Minn., June 12.—Clo: 3% asked; September 253 pber 242% call loans against ac. loans days asked. stead, 4% @5; 4-6 months 5; prime commercial paper | rresh $6.60@$6.80; packing sows $5.65@ $6.00; desirable 110 to 130 pound pigs $5.00@$6.00; heavy weight hogs $6.55@$6.80; medium $6.65@$6.85; light -$6.60@$6.80; light light $6.25@ $6.70; packing sows smooth $5.65@ $6.15; packing sows rough $5.35@ $5.75; killing pigs $5.00@$6.00. Cattle receipts 9,000, Beef steers and yearlings strong; spots 10 to 15c higher; medium grades showing most advance; trade rather slow; early top heavies $11.00; some held highe best yearling $10.50; bulk beef steers and yearlings $3.75@$10.50; she stock and bulls 10@15c higher; vealers 25c higher; stockers and feeders more active on country accounts bulk bo- logna bulls $4.65@$5.00; few heavies $5.10; bulk canners 2.75@3.00; medi- um to good stockers and feeders $6.25@$7.75; choice feeders acarce. Sheep receipts 4,000; fairly active; ring lambs strong to 25c higher; sheep steady; six doubles Idaho 66 pound lambs $16.25; bulk best natives $15.75@$16.00; few culls around $11.00; odd bunches yearling weath- ers $13.00; handy weight ewes mostly $5.25@$6.00; heavies $3,50@$4.25. Omaha OMAHA, Neb., Jun 12.—4U. 8. Department of Agriculture)—Hogs 11,500; mostly 5@10 higher; bulk packing sows $5.10@5.20; bulk butch- ers $6.10@$6.20; top $6.40. Cattle receipts 6900; strong 10 to 150 higher; top 1,110 pound averages $10.85; bulk steers $9.00@$10.35; numerous sales $10.50 @$10.75; low grade, she stock steady; others strong to 10@150 higher; bulk cows and heifers $6.00@$8.00; bulk canners and cutters $3.25@$4.2 bulls steady; veals strong; bulk bo- lognas $4.25@84.50; practical top veals $9.50; few stockers and feed- ers strong. beef steers Sheep receipts 3,000; late sales Monday; Idaho spring lamba 1575: lambs today 26@50c higher; three decks Idahos 70 pound average $16.25; three decks 68 pound average $16.0! three decks California clip- ped lambs, 68 pound average $14.4 sheep steady to weak; ewes $3.50@ $4.50; top $4.75; feeders nominal. Denver Prices DENVER, Colo., June 12—Cattle receipts 700; market steady to 10 high- er; beef steers $.00@10.35; cows and heifers 4.50@8.50; stockers and feed- ers 6.00@7.75. Hogs receipts 2,274; market 6 to 10 higher; top 6.50; bulk 615@6.40; pigs 5.00 to 5.50. Sheep receipts 298; market steady; yearlings 10.00@11.50; lamba 13.75@ 14.75; ewes 5.00@6.00 Butter and Eggs CHICAGO, June 12.—Butter lower; creamery extras 38%; standards 39; extra figsts 37@8; firsts 3544@36%; seconds 34@34%. Eggs lower; receipts 38.570 canes; firsts 22@22%; ordinary firsts 20%@ 21; miscellaneous 21%@22; storage pack extras 24%; storage pack firsts 24. NEW YORK, June 12—Butter eas- fer; creamery higher than extras 39 @40% creamery extras 39@89 1-4; creamery firsts 27% @38%. Eggs weak; fresh gathered, extra firsts 25%@26; ditto firsts 24@241 gathered storage packed, ex It firsts 26% @27; ditto firsts 2514 Cheese firm; atate whole milk, flats} fre run fresh h faney 23% @2 fancy (1% @24%; ditto state whole milk M@M4. twins bune JUNE 12, 1923. - Livestock -:- All Markets LOWER PRICES |BEARS DEPRESS RULE, WHEAT | PRIGES, CLOSE GLOSES WEAK} PROVES HEAVY Professional Speculators Suc- ceed in Pushing Down In- dustrial Stocks Grains - Kingdom of Belgium, Kingdom of Norway 68 ---.. Republic of Chile 88, 1 State of Queensland, U. K. of G. B. and I., American Smelting 6s American Sugar 6s American Tel, and Tel., cv. 68 ---—-—---—_. American Tel. and Tel., col. tr., 6s -. Anaconda Copper, 7s, 1938 -. Anacunda Copper, §3, 1953 At. T. and San Fe, gen 4s --—. Baltimore and Ohio cv., 4%6 Bethlehem Steel con 6s, Series A - Canadain Pacific deb.. Chicago, Bui Cheago, Mil and St. Paul., Chile Copper 6s Goodyear Tire 8s, Great Northern Montana Power 6s — ——- 5%, 1937 -—-_-__-. Bears Get Advantage From Slackness of Export In- quiry and Harvesting NEW YORK, June 12.—Profession- al speculators for the decline succeed- ed in depressing prices of most indus. trial stocks in today’s market, the| buying power being limitea largely! to the railroad shares. Olls and rub- bers were particularly weak, several! shares in those groups establishing new lows for the year. Sales ap- Proximated 725,090 shares. CHICAGO, June 12.—With better weather for harvest in the southwest. lower prices on wheat formed the rule today during the early dealings. The fact that Liverpool quotations were easier had some additional bear- ish influence. Besides, there was no aggressive buying. Opening prices ranged from %c decline to %c ad- vance, July 111 to 111% and ‘Septem- ber 108% to 109% and was followed by a general setback to well below yesterday's finish. Corn and oats tended downward in sympathy with wheat, After starting \c off'to % @%c gain, July 81% to 81%%c, the corn market underwent a moderate decline all around, Subsequently, reports that harvest- ing and threshing were going on in parts of Oklahoma gave some advan- tage to bears and so too, did slack- ness of export inquiry as well as weakness of prices for feed stuffs. Wheat closed unsettled %c net lower to %c advance with July $1.10% to NEW YORK, June 12.—Specula- tive uncertainty over the ultimate trend of business and prices was re- flected in the narrow and irregular. movement of prices at the opening of| today’s stock market. Rails were firm, Louisvivile & Nashville rising a point. California Petroleum which! was under pressure yesterday snap- ped back a point but General Elec- tric lost one. Pacific Gas and Elec. Penn. R. R. Gen., 58 -. Sinclair Con Oil col., Union Pacific first 4s U. 8. Rubber, 5s - Utah Power and Light Western canton Aer = Westinghouse Electric Wilson and Co., cv., 68 -. eo 91 90 90 Total sales of bonds today were $8,652,000 compared with $5,129,000 previous day and $17,850,000 a year ago. NEW YORK, June 12.—Rubbers were weak in response to a cut in tiro! increased dividends by various indus- prices, new low records for the year trial corporations and resumption of $1.10% and September $1.09%. being established by Xelly-Spring-| quasterly payments on’ American Potatoes Oats started a shade lower to a like| “el, United States Rubber and/smeiting at the annual rate of five advance. July 41%c. Later, all the| G00drich, off 1% to 2% polnts./ per cent failed to arrest the sagging Motors also were heavy, Studebaker yielding one point. Oils tended upward, California Petroleum extending its gain to 2% and Phillips Petroleum advancing month's showed a slight loss. Provisions were responsive to an upturn in the value of hogs. tendency of the list, Steels and olls were freely offered, California Petro- leum relapsing to a parity with yes- terday’s final figures. The closing was CHICAGO, June 12.—Potatoes dull; receipts 86 cars; total U. S. shipments 463; Wisconsin and Minnesota sacked round whites 70@85 cwt. new stock CHICAGO, June 12 Open High Low heavy. Prices E one. American Ice jumped 2% deal- : Wheat: July 111 111% 109% 110%| points. Foreign exchanges opened Cente te eee tadietciaig, losing | Tks, vomminna. concked | triumphs September 109% 109% 108% 109% | irregular. 1g 2 paints on the day. Wool.| number 1, 250@265; slightly decayed December 111% 111% 110% 111% mers ot 10 points from its early 235@2.45; south Carolina barrel cob- Corn. July 81% 81% 80% 80%| NEW YORK, June 12—Raitroaa| jen piers number 1, 5.75@6.00. September 77% 77% 76% 76%] shares continued their riso to higher — ——— GAL Meare? Sica December 67% 67% 66% 66%| ground, but most of the industrials Oata: July 41% 41% 41% 41% | were heavy under the pressure of Indian elephants cannot live In cen- September 38% 38% 37% 38 | liquidation and short selling. Addl: tral Africa, the home of a larger and December 39% 39% 39% 39%) tional new low records for the year more hardy species. Pork. Blank; were recorded by Ajax Rubber, Lard. July 1137 145 1127 1143] Pierce Arrow, Simms Petroleum, ember 1165) Skelly Of] and Panhandle producin; W Ribs: July 917 917 907 907 |and refining. Sugars and equipments| NEW YORK, June 12—Forelgn Ss AN September 4925 937 930 932 | also lost ground. Marking up of|bar silver 65%; Mexican dollars UNDERRE AMERS — ees Southern Railway to 37%, a new top, | 49%. { aurchaornon at and gains of a point each in New » June 12—Selling pres-| York Central, Reading, Southern DO! sure increased later both in the corn| Pacific and “Katy” preferred, im-| ,ONDON, June 12—Bar _pllver . 21% per ounce. Money 1% per cent. market and in oats. September oats touched a new low price record for the season. Corn closed unsettled, % to lc net lower, July 80% to 80% @%e. parted a steadier tone to the balance of the list before midday. ‘Wool- worth scored 6% points to 243 a new high for the year and International Harvester was pushed up 2. Call money opened at 5 per cent. Mammeth Completes Weill. The Mammoth Of] company has completed well No. 15 on the NW% of section 14-38-78, on Teapot dome, getting a 60 barrel producer. The well was completed at a depth of 3085 feet. AT YOUR SUPPLY STORE (3rztoce LOSE NO CUTTERS eee eee Many railroad engineers dislike to ‘irive an even numbered locomotive, so strong is the superstitious belief in_their ill luck. Pore NEW YORK, June 12.—Good news fell flat as a stimulating influence on prices. Declaration of regular and ENGLEWOOD Consider Englewood from an investment standpoint. Casper to have 30,000 population. Our new directory will show Our building permits last month were close to three-fourths of a million and with two new hotels starting this week costing nearly one million, our building permits should be over the one and one-half million this month. With Casper’s population placed at 50,000 in 1925 by Casper’s most conservative men, and a third railroad this year which will add millions to Casper business and thousands to her population. And Englewood only four and one-half miles*north on the best paved highway in the west and lying in a beautiful valley several hundred feet above Casper and the only logical location for a suburban home and land only selling for $100.00 per acre in 5tacre lots, and $75.00 per acre in 10-acre lots, and on very easy terms. In no other city the size of Casper in the United States could you buy land so situated for less than $500 to $100.00 per acre. And then when every acre of Englewood is under irrigation as it will be in a very few years and adjoining a live city like Casper on the north, who can predict the real value? ' BUY NOW AND GET THE ADVANCE ; CALL US TODAY John M. England Company | Phones 1129; 543-J 202 O-S Bldg.