Casper Daily Tribune Newspaper, July 2, 1923, Page 11

The new Enos Creek another test farther down on spudded in later in the season. Other test operations in the Big Hom basin region are making good progress but few new ones have heen projected in recent weeks. In the Hamilton field the Phoebus 7 Of! company has tankage erected to hgndle production from its No, 1 Horseshoe, recently completed. Commodore Oil company is shut Gown at 1,770 feet on section 17-46- 98, Grass Creek. Utah Of! Refining company is drilling at 2,500 feet in its test on the Black Mountain structure, east of Thermopolis. Gress Creek Development company ts shut down temporarily at 850 feat on eection 17-46-98, Grass Creek. Midwest Refining company is down Crude from another Wyoming ol! field was opened to market when the Midwest Refining company started to operate its recently completed two- inch line from the Notches dome, Na- trena county, to Lux station on the railroad, a distance of 12 miles. The comipany has one producing well in the field and a 50-day test is now in progress. The well produced between 400 and 600 barrels daily on tank test, The crude is a heavy grade. Casing-Head Ges Plant. Casing-head gas in the Big Muddy Ohio Drills in week proved to be a duster, the third to be found in the south part of the Salt Creek fleld. The latest failure 1g located on section 17-39-78 of tract ‘Wall Creek was cut at 2,706 feet and feet without encountering production. ‘The Carter and Chappell compani Further Reductions in Oil _ Prices Are Held Probable Further reductions in the price of] “It ts only a question of how long erude ofl were predicted by members of the party of Standard and Midwest officials who concluded a visit to the ‘Wyoming fields last week. “Prices cannot be maintained much longer unless there is a slump in pro- duction or greatly increased consump- tion,” one official is quoted as saying after explaining that prices had been artificially maintained for some time. “Market Gossip On Operations in Oil Fields Dougias Test. Griffith Oil company is down 2,400 feet with its test of the La Prele structure, four miles west of Doug: las, Wyo., where it took over an un- completed well of the Big Indian Oj! & Gas company. Casing has been wet. Casper interests drilling on the Beham farm, seven miles south of Douglas, are down 700 feet and changing from machine to standard tools for deeper operations. Rawlins Wildcat Drilling. Hatfield Of1 company is down 1,575 feet with its test on the Hight-Mile structure near Rawlins, Wyo., where the company controls about 4,500 acres. Comet Syndicate to Resume. Comet Oil syndicate . will resume drilling this week on a wildcat on the Government Hill structure, 10 miles west of Salt Creek, where oper- ations were suspended last winter at 1,620 feet near the top of the Lakota sand. Nether Dome.Promising. WORLAND, Wyo.—The Nelber Dome well is now drilling at some- thing over 2,700 feet and still re- mains an enigma, to those who are closely watching the drilling of this important test. At 2,560 feet, an 11-foot vein of coal was encountered, which seems to have upset some of the theories as to the depth at which ofl or gas may be expected. Ten inch casing was set at 2,520 feet, and 3,800 feet of Sinch casing has been hauled onto the ground, in- Gicating a fixed purpose to drill, at MANY OPERATIONS IN THE BIG HORN BASIN Fie Creek Test of Producers & Refiners Leaps in Importance; Progress on Numerous Other Test Wells Detailed of the immediate future and another well probably will be Notches Dome Well of the Midwest Now on Pipeline South Salt Creek District ‘Fhe only completion in the Wyo-) previously had found dry holes in ting fields by the Ohio company last | the same part of the field. G, an edge location, where the second | the fire. Grilling continued to a depth of 2,875| pany are drilling on the Rex Leke well of the Producers & Refiners corporation near the Grass Creek field in northern Wyoming may be saved for gas production if tinuing to the lower sands fails to mudding it off and con- secure oil. itarting of the structure is an assurance 2,575 feet and drilling in its test on the Nelber dome, Washakie county. Union Oil company is straighten- ing hole at 1,985 feet, section 3-43-94, Hale dome. Midwest Refining company is dril- Ung at 2,575 feet on section 12-45-96 of the Golden Eagle dome, east of Thermopolis. In the same field the rig of the Wyoming-Yellowstone Oil eat section 12-45-96, is standing dle. Heman D. Curtis et al are drilling 675 feet on their test in the out- skirts of Thermopolis. In the Hamil- ton field the s ame interests are rig- ging up at 1,780 feet in section 14 44-98 to drill to the Embar sand. G. A. McPherson has made location for a test on section 28-44-93 of the Zimmerman Butte structure. off field, east of Casper, will be treat- ed in an absorpton plant to be erect- ed at once by Lane & Seeley, who have made all arrangements with Principal producing compantes for the gas production, The initial plant to be erected will have a capacity of handling 6,000,000 feet daily and as a test of the gas shows it to contain one gallon of gasoline per 1,000 feet of gas, the output of the plant will be approximately 6.000 gallons of gasoline daily. Duster in In the Grass Creek field the Ohio company is rebuilding a rig destroyed by fire over its No, 39 State land well on section 19-46-98. Ignition of a small gas flow at 1,875 feet caused New test wells of the Ohio com- and O'Brien Springs structures in southern Wyomin; important interests are willing to or ean carry the burden of storage to care for the flood of oll.” Officials expressed themselves as greatly impressed by the production Possibilities of the new Montana fields and the Salt Creek district. They also recently visited important dis- tricts in California and Oklahoma on their present tour. and Briefs least, to that depth, some say, not less than 4,200 feet, under the present arrangement. Not having encountered eny tndica- tions of gas in the shajlower sands, there is a growing belief that it is an ofl, rather than a gas structure. Cc. T. Lupton, tn his government report, never refers to Nelber Dome as a possible producer of gas; but always of oll possibilities. Cotton NEW YORK, July 2.—Cotton prices broke 69 to 74 points in the local mar. ket today. Ji declined to 2635 and October to 2! NEW YORK, July 2—Spot cotton quiet; middling 27.85 Nomadic cattle rainera sometimes dig from: 15 to 20 feet in the sand of @ dry river bec) to reach water for their large herds of camels, | New York Stocks | Allied Chemical & Dye -.--- 65% American Can -.-----..-.... 87% American Car & Foundry -. 156 American International Corp,. 18 American Locomotive ..-. 132% American Smelting & Ref'g.- 55% American Sugar .. ene= 67 120% 143 83% 89% - 8% Atl. Gulg & W. Indies --.---. 13% Baldwin Locomotive ~ 119 Baltimore & Ohio .. Bethlehem Steel ~-.-........ California Petroleum ......-.- Canadian Pacific .-.-.-... Central Leather -~.-....~.. Cerro Ce Pasco Copper Chicago, Mil. & St, Paul, pa. _ Chicago, R. I, & Pao. Chile Cooper — 25% Chino Copper 18% Consolidated Gas ~~~. 58 Corn Products --..---------- 123% 41% 63% 41% 1% 69% 28% General Electrio - 175 General Motors -_ 18% Great Northern pfd. 64% Guif States Steel -—. 60% Milinols Central - 106 Inspiration Copper ---—. 28% International Harvester 78 Int. Mer. Marine pfd. --.--.-- International Paper - Invincible Ofl Kelly-Springfield Tire Kennecott Copper --. Lima Locomotive .. Louisville & Nashvill Mack Truck -.-—.----------- Marland Oil -... Maxwell Motors B ---. Middle States Oil -.._._____ Misrourl, Kan, & Tex. (new). Missouri Pacific, pfd. New York Central - N. Y., N. H, and Hartford Norfolk & Western Northern Pacific - Pacific Of 33% Pan American 52m Pennsylvania 42% People's Gas - 88% Producers & Refirers Pure Ol Reading ~ Republic Tron Sears Roebuck Sinclair Con. O11 Southern Pacific .-.-<---. 86 Southern Railway ---------. 33% Standard Oil of N. J. ---------- 32% Studebaker Corporation -... 101% Texas Co. -.... wemeeeeenne 86 41% ‘Texus & Pacific {------_--__ 18% Tobacco Products A -------- 77 ‘Transcontinental Oil -----.--- 5% Union Pacific —-----—-------~ 128 United Retail Stores -.-~... 1% U. 8. Ind. Alcohol --—..-- 43% United States Rubber -..... 42 United States Steel ac STA: Utah Copper ----------—-—-- 56% Westinghouse Electric - 53% Willys Overland --. m-- bY Amer. Zino, Lead & Bm. -.-.-- 9 Butte & Superior ----------_ 19 Colorado Fuel & Iron ---.---. 26 Montana Power National Lead -. Shattuck Ariscna 14% 83% 14% 84% Torchlight Etk Basin In ofl, Netber Dome has the poten-|Greybull ~ tal possibilities of another Salt Creek | Rovk Creek --------—~—--n-—wenel.35 production; all within the bounds of | Salt Creek Teasonable expectation, It has the | Hmilton geological approval of some of the| Mule Creek most eminent geologists of the coun- | Sunburst | try, as to closure and extent of drain- age area, both of which warrant the expectation of large oil production. The structure lies wholly within Washakie county; amt the drilling Potatoes from now on will attract the atten- 2 tion of the oll world of the entire} country, as its favorable geology is| CHICAGO, July 2.— Potatoes— NPAKAMity anon ema seccahioes. Sacks slightly lower and weaker; re- posed sr Tdk Yate, 117 cars; ttoal U. 8. ship. Oklaboma sacked Bliss ments, Triumphs, $2.50@2.75; few best. $2.90; 71 barrels, firm; Virginia barrel Cob- Dlers, mostly $6.25. Money NEW YORK, June 2—Call monoy easier; high 6; low 5; ruling rate 6; closing did 5; offered at 56%; last loan 5; call loans against acceptances 414; time loana firm; mixed collateral 60- 90 days 5@5%; 4-6 months 5@5; prime commercial paper & ap Blackstone 30 Chappell ----_. ry Columbine --.-.... 10 12 Capitol Pete --..—. 00% 00% Consolidated Royalty_ Red Bank new Royalty & Producers 07% Sunset -_-_______ 02 Tom Bel! Royalty ---- | Western Exploration. 3.55 3.65 Wyo-Kan -... 70 8 ‘Western Of] Fields -. .70 80 Western States - 15 aq Ton G8, -10 New York Curb, Closing Mountain Producers -$ 1375 §$ 14.00 Mammoth ... Glenrock Oil Salt Creek Pras. Salt Creek Cons. 52.00 54.00 Livestock Chicago Prices. CHICAGO, July 2.—(U. S. Depart- ment of Agriculture.) — Hogs—Re- 71,000; fairly activ around 10c lower; some others off more; bulk desirable 160 to 240 Pound averages, $7.00@7-10; $7.15 bid for sorted light; 260 to 350 pound butchers, $6.85@7.00; packing sows, generally $6.00@6.25; bulk desirable strong weight pigs, $6.40@6.60; heavy ewight hogs, $6.50@7.05; medium, $6.60@7.15; lights, $6.60@7.10; light Ughts, $6.50@7.00; packing sows, smooth, $6.00@6.35; packing sows, rough, $5.60@6.10; killing pigs, $6.00 @6.60. Cattle—Receipts, 15,000; slow; un- even; most killing classes strong <o 15c higher early; spots more on me: dium yearlings; early top matured steers, $11.10; some held around $11.50; best yearlings, $10.00; several strings plainer kinds, $8.25@9.00; lower grades fat cows slow at last week's decline; better grades fat cows and heifers showing noted advance; bulls, about steady; vealers, quality considered, 25¢ higher; stockers and feeders, Gull; bulk desirable bologna Dulls, $4.65@5.00; buk vealers to packers, around $9.50; upward to $10.50 to outsiders; bulk desirable beet helfers, $7.50@8.00; bulk beet cows, $4.25@6.50. Sheep—Receipts, 10,000; fairly ac- tive, around steady; bulk desirable, natives, mostly $15.50; early top to city butchers, $15.76; culls, $3.50@9.00; springers downward to $7.00; sheep generally steady. OMAHA PRICES OMAHA, Neb., July 2.—(U. 8. De partment of Agrilculture —-Hogs— Receipts 14,000; butchers 10@15c uower; bulk 200 to 350 pound averages 6.25@6.60; top 6.65; mixed and pack- ing grades 15@25o lower; bulk mixed 5.90@6.25; bulk packing sows 5.50@ 5.75, Cattle—Receipts 4,200; beef steers steady to 15 higher; spots more; bulk steers 9.00@10.25; top 10,80; she stock, bulls and veals firm; bulk cows and hetfers 5.75@8.25; canners and cutters 2.25@3.50; bologna bulls 3.75 @4.25; practical veal top 10.50; stock- ers and feeders slow; steady to 15c lower; bulk stockers and feeders 6.50 7.75, Sheep—Rectepts 10,000; all clas: active; ady; bulk western lambs 15.00@15.25; top 15.25; best native lambs 14.75; good and choice fat ewes 5.25% 6.00; feeders scarce. je Casper Daily Critune ©/and Southern Pacific each advancing STRONGER AGAIN Railroad Shares and Indus- trials Lead Rocovery After Mixed Prices NEW YORK, July 2.—Prices made moderate recovery from recent heavi- ness in today's stock market after an early period of weakness resulting from bear against a few individual issues and liquidation of weakened marginal accounts. Although nearly 100 stocks established new low prices for the year, good buying support was encountered at the lower levels. Easier money rates facilitated the ral- Easier money rates facilitated the rally. Sales approximated 925,000 shares, NEW YORK, June 2.—Confused Price- movements took place at the opening of today’s stock market. New lows for the year were established by Studebaker, New Haven, Pan Amer- {can and Anaconda, the losses rang: ing from half to 1 point. American Sugar advanced two points and Rock Islan¢, 1%. One block of 5,000 shares of General Motors was sold at $13 a share, the previous closing price. Mixed changes continued through- out the early dealings with the main tendency downward. Additional new lows were made by a score of stocks, including Sinclain, Maxwell Motors “A", American Beet Sugar, Bosch Magneto, International Paper, Mia- souri Pacific preferred, Southern rail- Way preferred, Norfolk and Western, and Corn Products. Some of the rails were in demand, Great 00d Northern preferred & point. New Haven extended its loss to 1%. Foreign exchange opened ir regular. In the absence of any public sup- port, prices continued to sag during te morning with more than three Prices for the year. 4% points wi Losses of 3 to recorded by the Pan- American issues, Cuban Dominican Sugar preferred, California Petro- leum preferred and May Department Stores, with many others down a point or more. Individual strength was shown by a few issues, notably Manat! Sugar, up six points but {s was not until noon that the general decline was ‘thecked and _ prices turned upward again under the leed- ership of such representatives shares as Baldwin, Studebaker and American Can. Trading became dull on the rally, ‘Call money opened at 6 percent. Investment railroads! and popular industrials were strong in the afternoon, general buying becoming more confident when the rally failed to produce the usual supply of stocks which had attended previous recoy- eries since the long decline set in. United States Steel climbed to 91, compared with 89%, its low figure of the afternoon, and many other active issues ruled one to two points above Saturday's final figures. Famous Players was up 4% and DuPont 3% points, ‘The closing was strong. Prices con- tinued their upward course during the afternoon with short covering op: NEW YORK, July 2.—There was not much inquiry for refined sugar and what little business was going on was mostly in second hand quar- ters at prices ranging from $8.90 to $9.00. Refiners’ prices are $9.25@9.50 for fine granulated. Sugar futures closed steady{ ap- proximate sales 20,000 tons. Septem- ber 505; December 456; March 367; May 3.72. Foreign Exchange NEW YORK, July 2—Foretgn ex: changes easy, Quotations in cents: Great Britain demand 456%; cables 457. Sixty day bills on ban France demand 6.90; cabl: Italy demand 4.32; gium demand 5.00; cables Germany demand _.0005 44; -0005%. Holland demand 39.06; cables 39.08; Norway demand 16,30. Sweden demand 26.42%; Denmark demand 17.50. Switzerland demand 17.47%; *_ Denver Prices DENVER. Colo., July 2-—Cattle Receipts 1100; market steady to strong ; calves 7.00@11.25; stockers and feeders Hogs Receipts 800; market 10 to 15 lower; top 6.80; bulk 6.50@6.6! Sheep Receipts 2900; steady; lambs 18.00@14.50; ewes 4.00@6.00. se LBs PP ada Ses Butter and Eggs CHICAGO, July 2—Butter lower; creamery extras .37%; standards 86%; extra firsts .85%4@.36%; » receipts 28,443 cases: ordinary firsts .19 ! miscellaneous .20@.20%; stor: age pack extras .23%@,23%; storage 23. pack firsts —- Silver Spain demand 14.20. Greece demand 8.00; Poland demand .0008, Czecho Slovakia demand 2.99, Argentine de- mand 35.25. Bra%il demand 10.88; Montreal 97 19-32. Metals NEW YORK, July 2—Copper quiet; eectrolytic spot and futures 14% @ 15, ‘Tin weak; spot and nearby 37.62; futures 37.62, Iron steady; number 1 northern 28.60@30.00; number 2 northern 28,00 @30.00; number 2 southern 26.009 28.00. Lead steady; spot 6.85. Zinc quiet; Hast St. Louis spot and nearby 5.75 @5,80; Antimony spot 6.95@7.05. EXPORTS OF GRAIN LOWER WASHINGTON, Vuly 2.—Grain ex- ports from the United States Week amounted to 3,668,000 busliels NEW YORK, July 2—Forlegn bor silver .62%; Mexican dollars .4 compared with 4,522,000 the week | before, Score issues touching new mintmum| last | WEAKEN TODAY Rally Not Maintained in Trad- ing on Chicago Grain : Market CHICAGO, July 2.—Influenced largely by lack of any important de- mand, wheat averaged lower in price today during the early dealings. Fine weather in all directions counted as a bearish factor and so too did a ititle hedging pressure. Higher quotations at Liverpool led at first some strength here but it was explained that the firmness at Liverpool was due to smallness of world shipments The opening here which ranged from % to %sc higher, September, $1.03% to $1.0 and December, $1.06% to $1.07, was followed by a setback to well below Saturday’s finish, affa then something of a rally. Subsequent upturns failed to 1é A let-up in reports about black r northwest counted against the bulls, Besides, the crop movement in the southwest appeared to be increasing. The market closed unsettled % to %c net lower, with September 1.04 to 103% and December 1.06 to 1.06% Corn and oats swayed with wheat Scantiness of offerings in the corn market at the outset®had only a transient bullish effect. After open Ing at %c off to %c advance, Septem. ber, 75% to 76c, the corn market underwent a general sag. An: increase of the visible supply had some bearish effect later, The close was weak, % to 1% cents lower, with September 74 to 7414 to Oats started unchang to Ye higher, September, 36%c, and later showed a slight decline all around Provisions were lower in response to a setback in hog values. High 1.03% 1.04 1.07 10.65 © 10.72 10.90 10.97 882 8.77 8.80 9.05 9.02 9.05 Cash Grains- and Provisions CHICAGO, July 2.—Wheat number 4 red 1.06; number 2 hard 1 Corn number 2 mixed .80% @.81%; number 2 yellow .82@82%, Oats number 2 white number 8 white .40% @43. A2K% @43%: Rye none. Barley .64@.68. Tim othy seed 6.00@6.50. Clover reed 15,00@17.00; Pork nominal. Lard-10.72. Ribs 8.75@9.50. Flax Seed DULUTH, Minn., July 2.—Closing flax July 255% asked; September 230; October 222. TEXAS GAS TAX FOUGHT AUSTIN, Teas, July 2.—Temporary injunction restatning State Comp- troller Lon A. Smith from certifying to the state treasurer any funds re- celved for April and May sales under the one cent gasoline tax bill, was granted by Judge C. Calhoun in Travis county district court today. The injunction was granted on appli- cation of the Oriental O!l company of Dallas. —— Prof. Alexander Zankoff, victorious leader of the revolutionary movement in Bulgaria, is now prime minster of the country. Beauty Winner Englisd Fleurs de lt * contest in Paris. Amor can girls were competitors, Belen Jarvis, won the Miss | dancer, Beaut czechoslovak Rep., Danish Municipal 8s, Ai Dominion of Canada, 5s, 1953 french Republic. Tis Republic of Chile 8s, 1946. -—. State of Queensland, 6s U.K. of G. B. and 1, 6% American Smelting 5 American Sugar American Tel. and T e American Tel and Tel col. tr, Anaconda Copper, 7s, 1938 - Anaconda Cpper 8s, 1953. — At. T. and San Fe gen, 4s Baltimore and Ohio cv., 4% Bethlehem Steel con., 6s, Series A ‘anadian Pacific deb., 4s ~. Chi. Bhr. and Qunicy ref. Mil. and St. Paul ev., sat Northern Montana Power 5 Northern Pacific Northwestern Bell Pacifi Gas and Ele Penn. R. R. gen., 5 Sinclair Con. O11 col., Southern. Pacific cy., inion Pacific first 8. Rubber 63 __ h Power and Light 8 ghouse i 4s da RAILWAY AND MISCELLANEOUS FRENCH SEIZE KRUPP WORKS (Continued from Page One.) way to Hagen, in the same neighbor. hood. COBLENZ, July 2.—(By The Asso- ciated Press.\—Two time bombs were found at the entrance of the Mayence tunnel today. One of them exploded with alight damage. The fuse was withdrawn from tho other in time by a French artillery officer. The French dered street authorities hare or- traffic restrictions and penalties in other forms imposed upon Mayence. The city officials will be held responsible for the occur. rence. FRENCH EFFORT TO FAIL, IS CLAIM. PARIS, July 2.—(By The Asso- ciated Press.)—A solution of the reparations problem and the Ruhr occupation question by pressure upon France to change her viewpoint is doomed to failure, according to sem!- official information obtained today. Strong féeling was evident at the French foreign office against the British attitude and the tone of the suggestions in the recent letter to Pope Pius, which are “based upon French concessions instead of bring- ing Germany to realize the necessity of fulfilling her obligations,” it was declared. French governmental circles are also convinced that the efforts of beth the British and the vatican to induce Germany by persuasion to change her attitude will prove fruit- leas, “We tried persuasion for three years without results,” one high offl- cial was quoted as saying. ‘Coercion is the only thing Germany under- stands.” The only way out of the present imbroglio is “absolute solidarity among the allies, as obtained during the war, and joint representations to Germany,” {s the feeling voiced in official circles here. LORD CURZON AWAITS FRENCH EXPLANATION. LONDON, July 2.—(By The 10- ciated Press.)—Lord Curzon, the sec: retary for foreign affairs, arrived in Downing street early today from Kedleston to await Count De Stau- Crest Build up many water. % 8% 106% 106% 196 87 86% 87 is expected to answer today ‘the queries regarding the French policy on reparations asked of the Poincara government almost three weeks ago. It was stated at the foreign office that the press reports of separate British action for a settlement with Germany for the bringing of Anglo- American pressure on France for the payment of the French debt were entirely premature. Count De Staulatre's visit was anxiously awaited, for until the Brit- ish get some outline of the French viewpoint, Prime Minister Baldwin’ cabinet has nothing to go on towards satisfying public opinion, which offi- cial circles believe is becoming more and more impatient as indicated by the questions being asked in the house of commons and in the press. BELGIANS TO METE OUT PENALTIES. BRUSSELS, July 2.—(By The As- sociated Press.)\—The program of penalties to be imposed in the Ruhr because of the bombing of the. Rel- gian troop train near Duisburg Safer- day in which 30 lives were lost and more than two score persons injured, was before the Belgian cabinet for consideration, at its meeting | this afternoon. The government has ordered that prominent German civilians opposed to the occupation, be carried as pro- tecting hostages on Belgian trains crossing the Rhine hereafter at Dut burg. In response to the widespread tn- dignation caused by the outrage, the newspapers suggest stronger meas- ures, several o fthem urging the adoption of the practice followed by the Germans in Belgium during the war—the shooting of selected notables in reprisal after each act of hostility. ———.—__ Montana Seeks | Extradition of Man Held Here t] HELENA, Mont., July 2.—Extradt- tion papers were issued today . by Governor Joseph M. Dixon on ‘the Jaire, the French ambassador, who We Are Abounding in Health and Happiness Because We against disease by ing Hill Crest Water. Ty- phoid fever is one of the diseases chargeable to dirty, hard The cost is small, the benefits are great. PHONE 1151 And Health Is Won. governor of Wyoming asking custody of C. J. Jolly under arrest at Casper, Wyo. A compiaint filed February 1% last, charges Jolly with the theft of an automobile at Great Falls. The police authorities charge that Jolly was a member of a band which was alleged to have stolen and disposed of more than automobiles. ‘Two members of the band were convicted recentl: ‘ Water a resistance drink- that