Casper Daily Tribune Newspaper, July 10, 1923, Page 7

TUESDAY, JULY 16, 1923. aie Finance -:- Bonds -: « . PENNSYLVANIA CRUDE _ PRICES CUT 25 CENTS Reva All Grades at Pittsburgh Forecasts Furth- et, Slump in Mid-Continent and Wyoming Buckeye Pipe Line $2.75. Other reductions ‘ere—Ca} $1.40; Somerset light 20 cents to $1.55; Crude oll forecast similar, declines in MidContinent scheduled to Crude Quotations 10—-A reftuction of 25 cents in the price of the oll was announced at the opening of the market are—New York Transit and Braéfor’ district $3 0 Southwest Pennsylventa, Bureka Pipe Line end ‘belle 21 cents to $1.50; Somerset 15 cents to Ragland 15 cents to 75 cents. Price reductions announced from Pittsburgh this Mid-Continent and Wyoming grades with the come first. Emigrant Gap Test To Be Spudded in at Early, Date Bradfield-Wyoming Of company is preparing to spud in for a test of the Emigrant Gap structure 20 miles it of Casper, where camp has been completed, materials are on the ground for the derrick and location for the well has been made on sec- tion 9-34-52 W. The company {= full financed with headfuarters at Cas- per and the following officers: Presi- dent, J. C. Martin; vice president and field superintendent, I. J. West; sec- retary and general manager, Claude F. Pah ; treasurer, E. H. Bryner. Market Gossip and Briefs 5 On Operations in Oil Fields Harvey A. Willjs and Company ts- frued a statement saying the firm was 200 percent solvent. “We met a run a year ago,” the statement said, “and also a month ‘go. Our balance sheet of June 30 shows us to be absolutely solvent and shows a satisfactory surplus, all in addition to our outside personal resources of Harvey A. Willi Leases Change Hands Leases on 1,502 acres of land in @he Salt Creek district, held by Peter Evanoff of Denver, have beer taken over by John J. Catleugh of Bonneville, Wyo., and are said to in- volve a considerable sum. The land Jies_in rections 5, 6, 7, 8, and 18-40- 7%, ,and in section 24-40-80, repre- senting edge locations. Catleugh has a standard rig in the Kirby Creek district near Thermopolis and it is understood that this equipment will APPEALS FILED IN BEHALF OF LIBEL EDITOR tResolutions Supporting Carl Magee Passed in Mass Meetings. SANTA FE, N. M., July 9.—Gov- \ernor Hinkle, who has received a Marge stack of letters, resolutions and petitions urging an investigation of )the trial of Carl Magee, Albuquerque editor convicted of libel of Chief Jus- tice Frank W,. Parker of the state supreme cdurt, before District Judge D, J. Leahy at Las Vegas, has stated that he does not deem it proper to take any action in advance of tho disposal of the case by the state su- preme court, to which it has been ap- pealed. Many of the petitions ask that the legislature be convened in special session to act as a court of impeach- ment. Numerous mass meetings have ‘been held at various cities at which resolutions were passe@ in support of Magee. The editor was sentenced to a year to eighteen months at hard labor in the penitentiary on the libel convio tion, and numerous charges of al- leged contempt by Magee are pend- ing before Judge Leahy. At an Al- buquerque mass meeting # drive was started for -financial. aupport -for Magee's paper, the New Mexico State Tribune aud sev thousand doilars Waa raised at thé meeting. be moved to Salt Creek as soon as he has completed work on the Tough Creek test near Bonnaville. Kasoming Gets Gusher Kasoming Oil company is report- ea to have completed a well which started off at 750 barrels a day on section 3-26-90 of the Lost Soldier field where the bit is only a few feet in the sand at 2,371 feet. The location is near the No. 1 Good well on the seme section. Broker Is Ousted. NEW YORK, July 10.—Harvey A. Willis, head of a brokerage firm bear- ing his name, was expelled today from the Consolidated Stock Ex- change for nullifying “the effect of a client's order by taking the transac- tion to his own account.” ‘Willis had been a member of the exchange since December 12, 1917, ELECTION IN MINNESOTA BAROMETER ST. PAUL, Minn., July 10,—Out- come of the Minnesota senatorial elec: tion on July 16, will be watched closely in national political circles as possibly having a bearing on the next presi- dential election, it was sald by some Political observers here today. The trend of the republican vote for governor J. A. O. Preus and that for Magnus Johnson, Farmer-Laborite, political observers declare, will give them a good indication of the senti ment of the peop'e, at least in this section of the country, on the policies of the present republican national ad- ministration. Governor Preus has the endorsement of the administration and he approves its program and actions, Johnson opposes the Harding platform. ———————__ OMAHA POLICE CHIEF DEAD OMAHA, July 10,—Michael F. Dempsey, 66, Omaha police chief died last night. PERMIT FOR RESIDENCE E. N. Sprague has taken out a city building permit for an $11,000 resi- dence on Bouth Lincoln street be- tween Tenth and Eleventh streets. The house is to be an eight room structure of brick and tile construc: tion, a Cotton NEW YORK, July 10.—Spot cot- ton quiet; middling 27.65. verse) whe F } ehandl , the painter, and Chandler Christy, the painter, : er sila of-President Harding's portrait, @he hoa \ {14 en the first Buropean trip o otables ‘ehen she left New York July 4. On Sea Queen’s Maiden Voyage NEA. ff the Leviathan as Among them were Mrs. Christy, They witnessed painted by Christy, om Che Casper Daily Cribune - Stocks New York Stocks (By Wilson. Crammer & Company) Allied Chemical & Dye ----.. 65% American Can .. so 8744 LOCAL STOCKS American Car & Foundry ssh ocreg en ee eae 26 American International Corp -' 18% | Big Indian --_----. .17 19 American Loccmotive new -..- 66% | Boston Wyoming. ‘5 1.00 American Smelting & Refg. - 54%|Buck Creek -.....-— 18 115 American Sugar .. ——- ¢3. |Burke -— 28 =---------- 121% | Blackstone Salt Creek .28 —- 142% | Chappell a= 336 82% |Columbine ----_-.- 10 39% | Capitol Pete ~-.-.... 00% Consolidated Royalty . 1.28 Atl, Cow Gulch LL ..O1 Baldwin Locomotive Domino -2.------. 10 Baltimore and Ohio Elkhorn -. eae Bethlehem Steel Frantz --~-~ 4.00 California Petroleum B. T. Wiliams —-_. 62% Canadian Pacific Gates Central Leather - Kinney ~--------——- Cerro de Pasco Copper Jupiter —————-aaanme 00% Chandler Motors Kinney Coastas --. .36 Lance Creek Royalty.. .01 Chicago and Northwestern -.. 704 | Lusk Royalty ----. .01 Chicago, Mil and St. Paul pfd. — 31% |Mike Henry -----.. 01 Mountain & Gulf .... 1.30 New York Oil ~—...-12.00 Picardy Outwest Red Bank new Chicago, R, T. and Pac, —_--— Chile Copper oo Conmblidated Gas Corn Products Cosden Oil Crucible Steel ansehen ates Cuba Cane Sugar pfd 40% | Tom Bel! Royalty - 01 Erie -. iL Western Exploration. 3.55 Famous Players Lasky — 11 | Wyo-Kan —ccece--o General Asphalt - 27% | Western Ol Fields General Blectric — 173% | Western Stat Geneml Motors 133%8|¥ on -_-. Great Northern pfa 655 Gulf States Steel ne New York Curb, Closing pati 10g |Mountain Producers -$ 13.12 $ 13.37 aaioit” CARE 284% |Mammoth .. 50.00. 56.90 ational Harvester 78% | Glenrdck Ol ra ose. ATs, Int. Mer, Marine pfd - 21% | Salt Creek Pras. --- 16.50 16.62 International, Papert 06 3) Salt: Crock Cons i-c—- 9-75. 10.00 Invincible. Olt 10 |New York Oi 8.00 10.00 Kelly Springfiel 33 | Marine — 4.50 4.62 Kennecott Copper ----—-----. 33% | Mutual etl wie Tinie “Toviotve S. 0. Indiana ——.. 52.87 63.12 Laslevilis’ anal itkencilis iCtles Service Com ~ 134.00 136.00 Mack Truck Marland Oil Maxwell Motors B .-. Micdle States Oil Missouri Pacific pfd — New York Central N. Y. N. H., and Hartford -. Norfolk and Western . Northern Pacific Pacific Oll -..--.---. Pan American Petroleum B Pennsylvania People’s Gas -.. Producers and Refiners Pure Oil Reading -. —— Republic Iron and Steel - Sears Roebuck Sinclair Con On — Southern Pacitic Southern Railway Standard Oi! of N. J. Studébaker Corporation ‘Texa& Co. Texas and Pacific Tobacco Products A ‘Transcontinental Oil Union Pacific United Retail Stores U. §, Ind. Alcohol ———. United States Rubber United States. Steel Utah Copper --. Westinghouse Electric Willys Overland - 6 American Zine, Lead and Sm. - 8% B Butte and Superior 19% B Coloraco Fuel and Iron ~ Montana Power National Lead Shattuck Arizona 3s First 4s Second 4s irst 4% Second 4% Fourth 4%s .. Livestock Chicago Prices, CHICAGO, July 10—( U. S. De partment of Agriculture)— Hogs Receipts 39,000; slow, 10c to 15c low- ; bulk 160 to 250 pound averages $7.30@7.50; top $7.55; bulk packing sows $6096.35; few strong welght pigs $6.50@7; heavyweight hogs $6.50 @7.50; medium $6.75@7.50; light $6.65 @7.55; ight Ught $6.60@7.45; packing sows smooth $5.90@6.40; packing sows rough $5.50@6; killing pigs $6.25 @7.00. Cattle—Recelpts 10,000; beef steers slow, generally steady to 15 cents lower) kinds of value to sell at $10 dowr/ward reflecting most decline; yearlings mostly steady; killing qual- ity fair to good; largely steer run; top matured steers early $11.50; nu- merous loads $8.50@10.50 according to quality and con¢ition; she stock and bulls strong; spote higher; other classes generally steady; stockers and feede{s oarce; bulk desirable veal calves $11.50@12 ot packers; upward to $12.50 to outsiders; bulk desirable bologna bulls $4,90@5.15. Sheep—Receipts 22,000; slow; fat lambs around 25c to 50c lower; bulk good and choice natives $114@14.50; culls $5.50@8.50; sheep steady; med- lum and handy we'ght ewes $56.25; heavies strong, $3.50@4.25, Standard Oil Stocks New York Curb Open Close Anglo ----—--—+------ 15 15% Omaha Quotations Buckeye —-——--- 84 86 OMAHA, Neb., July 10. (U, 8. De- Continental ----—---- 36 38 |partment of Agriculture) —Hogs— Cumberland 100 | Receipts 17,000; slow; butchers steady Calena 61 |to weak; mixed and packing grades Tlinols 97 | 10@15c lower; bulk 200 to 350 pound 96 butchers, 6.25@6.75; top $6.90; bulk 23% | mixed grades carrying pecking sows 102 4 lights $5.75@$6.25; packing sows 100 | $5.25@$5.75. 60 Cattle—Recetpt 8,000; beef steers 183 and she stock steady; top steers 99% | 11.00; bulk steers 8.50@10.25; grass Solar Ref. -—-----——-- 115 180 |. cows 4.25@6.00; dry lot cows 6.00@ Sou. Pipe 97 7.50; heifers up to 9.25; bulls 25¢ 8. 414% | higher; bolognas 4.50@4.75; veals 8. 87% | steady; practical top 10.50; stockers 8. 218 | and feeders scarce, steady. 8. 374% | Sheep—Receipts 6,500; lambs most- s. 282 |ly 2c lower; early top western fat v 44% | lambs 14.60; bulk westerns 14.00@ Ss. 132 | 14.60; native lambs 13.75@14.25; fed s. 63% | cUpped lambs up to 13.00; sheep scarce, steady; light ewes 5.75; feed- ers scarce; choice western feeding lambs held at 12.75. Denver Prices DENVER, COLO,, July 10—Cattle Receipts 1325; steady to weak; beef steers 9.00@11.00; cows and helfers 4.00@8.00; calves 5.50@10.00; stockers and feeders 5.00@7,00. Hogs Receipts 3,475; 10 to 20 lower; top 7.10; bulk 6.80@7.00, Sheep Receipts 2,850; market steady lambs 12.00@18.75; ewes 4.00@6.50. Dawn-to-Dusk Plane Repaired ST. JOSEPH, Mo,, July 10. —Re- pairs were proceeding today on the airplane in which Lieutenant Russell lL. Maughan yesterday attempted a Cat Creek -..... Lance Creek Grass Creek Torchiight Etk Basin Greybull Rovk Creek Salt: Creek Hamilton Mule Creek Bunburvt Butter and Eggs dawn-todusk flight from New York CHICAGO, July 10.—Butter strong;|to SanFrandisco, A short turn, in receipts ex-| avoiding a cow as he was forced down standards .37%; extra firsts|near St. Joseph to correct engine firsts .34%@35%; seconds| trouble, wrenched away part of the Eggs steady; receipts 19,368 |landing gear. 21,382 tubs; creamery cases firsts ordinary firsts| Lieutenant Maughan indicated he 20%@ storage pack extras .25;| probably would fly to New York Wed- stor pack firsts .23@.28%. |nesday in preparation for a fresh at- Poultry alive, steady to weak;|tempt at the transcontinental flight fowls .19@.23 broilers 28@.34;| within a week, roosters. .32. Maughan, who left New York yes- Cheese higher; twins .21@.21%;|terday at 3:56 a. m, eastern standard twin daisies .21@.21%; single daisies |time, was forces to descend at 12:03 2; A @.23; long horns|p. m. by an obstruction in the gaso- @ 22%. Iline flow pipe of the airplane, STACK PRICES WEAKEN AGAIN Outside’ Support Lacking; Oils Depressed by Crude Reduction NEW YORK, July 10—Prices de ; veloped a reactionary trend in today's stock market, the dullest of any full day's session this year, | Unfavor- able foreign political developments un- settled commodity prices and the large decrease in the unfilled orders of the United States Steel Corporation in fuenced selling for both accounts Sales approximated 400,000 shares, NEW YORK, July 10.—Opening Prices in today’s stock market were decidedly irregular. The favorable re- port by the government of bumper crops this fall was counteracted by cable reports of more serious differ- ences between the, French and the British over the Ruhr problem. Steels, coppers and motors were among the first to yield to selling pressure. Youngstown Steel and Tube and Royal Dutch each ad vanced a point and some of the divi: dend paying rails advanced fraction- ally. A flood of selling orders came tn to the market soon after the open: ing and the whole list turned re fective in the ofls, chemicals, actionary with selling pressure most motors and equipments. Lotses of 1 to 2% points were registered by Cos den, Producers and Refiners, Pan American “B", Baldwin and Amer ican Locomotives, General Electric, Studebaker, Chandler, American Can, Corn Products, American Sugar and several others. Foreign exchanges opened slightly higher Unfavorable political developments abroad undoubtedly were the most depressing influences in prices dur ing the morning. Further overnight reductions in lead, sugar and Penn- sylvanta crude oil prices and a con- tinuance of high call money rates also tended to restrict buying ex- cept for covering operations. Motors were sold freely on further con- firmation of reports that tho peak for production and sales had been passed for this year. Around midday the list steadied somewhat when Delaware and Hudson was pushed up to 108% against Saturday's low of 93% in further reflection of of: ficial assurances that no change in the $9 dividend rate was contem- plated. Call money opened at percent. Absence of inquiry from outside sources continued to be one of the underlying causes for the softness of the market, prices again tending downward in the early afternoon. United States Steel declined to 90% on the large reduetion in unfilled tonnage. Marine Preferred and Burns Brothers “A” registered new mint- mum figures for the year, the latter yielding over 23 points. The closing was heavy, a sharp break jn the Burns Brothers issues, the “A” falling five points, encourage short selling of other industrials in the late dealings. Western rails also yielded a point or so in sympathy with the sharp drop in wheat prices. heehee sass 5% Potatoes CHICAGO, July 10. — Potatoes weaker; receipts 65; total U. 8. ship: ments 510; Oklahoma choice Cob blers mostly 3.00; Triumphs $2.50@ $2.75; Kansas sacked Ohios $2.50@ $2.75; Illinois Ohios sacked mostly 3.00; Virginia barreled Cobblers 6.75 @7.00. Metals ee NEW YORK, July 10. — Copper quiet; electrolytic spot and futures .1449@.14%. Tin easy; spot and near by 88.25@88.37; futures 38.12, Iron number - northern 26.60@27.50; num- ber 2 northern 26.00@27.00. ead weak; spot 6.00. Zinc quiet. East St. Louis spot and nearby 6.05@6,10 Antimony spot 6.80@6.90. —_ CORN CROP. IS LARGER WASHINGION, July 10,—Fore cast of this year’s crop of corn at 2,877,000,000 bushels, or 14,000,000 bush more than last year's crop and this season's potato production at 382,000,000 bushels, es compared with last years record production of 451,185,000 bushels, featured the July crop report of the department of agriculture. German Charge At Brussels Is Assaulted BRUSSELS, July 10—(By The As- sociated Press)—The German charge (Affairs here was assaulted in the street last night. According to the Belgian authorities the official, who was accompanied by a fellow countryman, was talking rather loudly in German when a pas rby shouted “Boches! A crowd quickly gathered and the charge w: struck a number of times before the police arrived, Two former Belgian soldiers were arrested and later re leased under bail No official German protest over the incident had been received by the Bel gian government up to noon toda WHEAT HIT BY OHARP DECLINE July and September Near Dollar Mark at Close Of Chicago Trading Prices closed weak at the lowest level of the day, 2% cents to 3% cents under yesterday's finish. In- dications that the spring wheat crop was maturing ahead of threatened damage by black rust was largely responsible for sending prices down: grade. CHICAGO, July 10.—Arrival in Chi cago of the first car of new wheat re- ceived here this season was accom. panied by a new decline in price. September touched a new low rece for the season. The market heavy, 2% to 3% cent net lower. tember $1 to 1.00% and December $1.03 to $1.03%. ’ CHICAGO, July 10. — Favorable weather to retard black rust had a bearish effect on the wheat market today during the early dealings. Har vest conditions in the winter crop region were also auspicious, and hedging sales of new wheat tended further to depress values. On | the other hand, bulls pointed out that the chief probable surplus yield shown by the government crop is west of the Rockies and that the amount of wheat in farmers’ hands is only 5, 500,000 bushels more than last year. Opening prices, which ranged from % to 1% cents lower. Septem ber 1.02% to 1.03 and December 1.05% to 1.05%, were followed by a little further setback and then some- thing of a rally. Corn and oats were easier with wheat. After opening % to % cent lower, September .76% to .76%, the corn market weakened a trisie more and then recovered somewhat. Dani: Dom! Fron: Beth! c Chi. ch Goo Pena. Utah Czechoslovak Rep., Japanese Kingdom of HRelgium, <ingdom of Nozway Republic of Chi 3tate of Queen: K. of American Smelting 5s - American Sugar 6x American Tel. and Tel., American Tel and Tel col. Anaconda Copper. Anaconda Cpper 8s, At. T, and San Fe gen., 4s Baltimore and Ohio cy., Canadian Pacific deb., 4s 3reat Northern Montana Power 5s A _ Northern Pacific ref, 6s B. Northwestern Bell Tel., 7s — Pacific Gas and Electric 59 Sinclair Con. O11 col., Southern Pacific cv., Union Pacific first 4s 1. 8. Rubber 5s Westinghouse Wlectrio 7a Wilson and TOO LATE TO CLASSIFY 4 PAGE SEVE FOREIGN $a, ctfs - ish Municipal 88, As - inion of Canada, 5s, 1952 ~ ch Republic. 74s 4s G. B. ands, 1937 .. RAILWAY AND MISOE cv tr., 1938 1953 7s. 4% lehem Steel con., 68, Series Mil, and St. Paul cy. Copper, 6s year Tire is . R. R. Ken Power and Li aq Steel Orders Decline NEW YORK, July 10. — Unfille FOR lin dition, Phone 20067. LOST—Rear bumper, probably on N. Center, Reward. Phane 2229. orders of the United States Ste |Corporation on June 30, made publ today, totalled 6,336,261 tons, a 4 crease of 595,000 tons under tho: the end of M SALE—Erown reed corduroy ed baby buggy; in splendid con- De 410. Fresh weakness developed when wheat prices broke in the late deal- ings. Corn closed weak, % to % cent net lower; September 75% to < Oats started a shade off to % cent up, September .35% to .35% @35%4. Later the market underwent a slight sag. Lower quotations on hogs weak- ened the provision market. 6. Open High Low Close Wheat— July ----- 1.02% 1.03% 1.00% 1.00% Sept ----- 1.02% 1.03% 1.00 1.00 De ----= 1.03% 1.05% 1.03 1.03 Corn— July 82% RBG DMG BANG Sept 16% TT .TB% «75% Dec 63% 63% 62% .62% Oats— July 39% 39% 38% 38% Sent 35% 3544 34% 34% Dec 37% 87% «36.36 Lard— Sept 11.10 11.15 11.05 11.10 Oct. 11.21 11.24 11.15 11,17 Ribs— Sept - 9.20 9.20 917 917 Oct 9.07 CHICAGO, July 10—Wheat no sales reported, Corn number 2) mixed 85 @86%; number 2 yellow 874%4@SS\4. Oats number 2 white 42@42%; num- ber 3 white 39%@41%. Rye number 2, 67%. Barley 65@68, Timothy seed 5.50@6.50. Clover seed 15.00%17.00. Pork nominal . Lard 11.87; ribs 8,75 @9.62. ———— Flax Seed DULUTH, Minn., July 10.—Closing flax July 2.65% asked; September 2.30 bid; October 2.21 bid; November 20 bid. Money NEW YORK, July 10—Call money ensier; high 6%; low 4%; ruling rate 5%\ closing bid 4%; offered at 4%. Last loan 4%. Call loans against ac ceptances 4%; time loans firm; mixed collateral, 60-90 days 6@5%. Four: six months 5@5%. Prime commercial paper 5. Foreign Exchang: changes firmer, Great Britain demand 457 les 457%4; 60 day bills on hi Quotations in cents. Cab- FOR for 833 S. Elm. NEW YORK, July 10. 63%; Mexican dollars .48%. WANTED —Thres passengers for nver Saturday. Phone Taylor at UNDERREAMERS RENT—Front bedroom, suitable two, private entrance to bath. ze i hs ee Silver AT YOUR SUPPLY STORE BrRiecerortT Bar silver LOSE NO. .CUTTERS France demand 5.95; cables %. Italy demand 4.30%; cables 4.31, Bel- gium demand 4.93%; cables 4.04. Germany demand .0004; cabl 004%. Holland demand 39. cables 39,10. Norway demand 16.20; Sweden 4 mand 26.30; Denmark demand 12.75; Switzerland demand 17.28; Spain de mand 14.45; Greece demand 3,05; Po- land .0006%; Czecho Slovakia 3.02% Argentine 34.50; Brazil 10,32, Mon treal 97%. pT 7 ea aren pena! aan | : Sugar | NEW YORK, July 10—Sugar futures closed weak. Approximate anies 35,- 000 tons, September 447; December 426; March 339; May 345. t UNDERREAMERS mi" AT YOUR SUPPLY STORE | BreipcerortTr ‘THE PIPE FOLLOWS Cutting Sale Costs Students of American busienss agree that it costs too much to sell our products. The expense of distribution, after manufactur- ing, adds immensely to the ultimate cost. The telephone has provided the more pro- gressive dealers with a means of cutting sales costs to a small margin. They have developed selling by Long Distance to a point which amazes those who have not kept in touch with this modern develop- ment of telephone usage. Salesmen who used to travel a wide terri- tory, lose time on trains, wait endlessly outside private office doors and pile up heavy expense now never leave their desks. The telephone does their traveling for them. And they talk business to their customers as intimately as if only a desk separated seller from buyer. ‘ ‘ : ' Station-to-station calls even cut telephone costs and make selling a relatively inex- pensive operation. | The Mountain States Telephone and Telegraph Co, One Policy, One System, Universal Service And All Directed Toward Better Service ITS CLEAR SOFT AND PURE Order by the case or 5-gallon bottles. HILL CREST WATER WE DELIVER 503 East Second St. Phone 1151