Casper Daily Tribune Newspaper, August 12, 1923, Page 18

"AGE TEN. SALT CREEK TEST IS COMPLETED, OUTPUT TS 193,300 BARRELS Official Figuree Lacking on Average Runs From Northern Zone But Reliable Estimates Place Total Near 200,000 Mark Although figures have not yet been fully tabulated by the pipeline committee on the test runs of the Salt Creek field which have been going on for the last three weeks and ended at 1 o’clock yesterday morning, it is reported that the po- tential developed production of the entire field will figure Che Casper S unDdap Corning Cridune . " © * amie, i PE - : Sy WOYMING’S LEADING OIL, BUSINESS AND FINANCIAL DEPARTMENT alent nscale eer toner Maths oli aetna as Mal a a i a die setae hl TRADING AT LOW EBB AT CLOSE OF WEEK; Year After Week Featured by Many Disturbing Factors, Including Foreign News NEW YORK, Aug. 11.—The week’s trading in stocks was brought to a close today with the quietest session of the year, only 125,000 shares changing hands, after a period during which the death of President Harding and funeral services exercised a restraining influence. Prices displayed a firm tone at the end of the short session after recovering of losses STOCK PRICES FIRM), New York Exchange Witnesses Quietest Day This Stanical up to 193,300 barrels per day. ®ources it is learned that the tests) showed 66,300 barrels potential in the southern zone, 61,000 barrels. in the middle zone and 65,000 in the northern zone. ‘The figures on the runs carried by ‘the four pipeline companies, the Mid- From unofficial but reliable west, Producers & r.cfiners, Central and Sinclair, will be carefully audited this week and a report given out on the runs the latter part of the week. ‘The new pro rata will be based by the Salt Creek conservation commit- tee on these figures. Small Producer of Light Oil Opened in Dry Piney ‘An investigation by scouts of the Yeading producing companies in Wyo- ming on the well recently brought in 65 miles north of Kemmerer in the Bis Piney field, indicate that the well is a small producer of high grade oll and not a gusher as reported by some of the papers in that part of the state. The well was drilled by the Cretaceous Of] company on what is known as the Cretaceous Dome and production was located at 1,400 feet. Several shallow wells have been drilled in this field, production run- ing up to 10 barrels daily per well. The strike is said to have been made more than two months ago and kept under cover by the Cretaceous since that time. The well is in Sub- lette county near the western bound- ary of the state. Charles Lackey has been manager of the company and other officers are: President, Judge Robert R. Rose of Casper; vice-president, Dr. J. R. Marquis; secretary, Mrs. Grace Mac- Glashan, and treasurer, E. L. Smith. The strike is alleged to have been made May 29, last, and kept under cover since that time. No informa- tion has been given out as to the capacity of the well except that it made several flows before it was shut in. New Fargo Well Showing For Good Production, Said Another good well which gives pro- mise in its present stage of being the equal of the former completions is being drilled in by the Fargo Oil company in South Casper Creek. This 4g well No. 27 located on section 3-33- 83. With the bit 43 feet in the Tens- Jeep in which production was found at 2372 feet oil fs rapidly rising in the casing. The hole will be carried to approximately the same depth as in the former completions. The dropped underreamar which has delayed operations for some time in No. 24 at 695 eet has been recover- ed and a slight crook in the hole is now being straightened after which drilling will be continued the first of the week. Pumps have been installed in both the pipeline pumping stations but owing to delay in shipment of the bollers it will not be possible to have these n operation in time to use them in the running of oil at the time sche- duled. A number of field boilers will be used for this purpose until the installatoin is completed and ofl will de started running between the 15th and 20th of the month. The use of these boilers for pumping power pur- poses will delay the starting of wells No 25 and 26 until after the comple- tion of the pumping plants. Wheat Prices Given Boost By Cut in U.S. Estimates CHICAGO, ‘Aug. 11.—Wheat prices} boored material gains during Rains eased the corn market, but the] oats prices advanced, owing to fear ‘week ended today, due largely to the| that wet weather had caused damage government's forecast that the 1923| to oats in shock, domestic harvest would yield many million bushels less than was expect- ed and later reports from Canada of ® delayed harvest and reductions in crop estimates there. The close today was firm with September 99% to $9%c and December $1.03%, a gain} pf over two and three cents | Corn prices closed unsettled, slight- ly weaker for the day, with Septem- ber 76% to 77c. Notwithstanding that a majority of wheat traders ment crop report of bullish character, few anticipated tion for the season would be esti-| mated at 8,000,000 to 24,000,000 bushels less than private experts had figured upon east of the Rockies. Analysis ap- peared to render it fairly certain that Kansas and Nebraska this season ‘would have no surplus wheat and had only raised enough for their own mill and seed requirements. Crop damage reports from the Canadian Northwest added impetus to the upward tendency of wheat values. It was asserted that the Manitoba crop had been cut in two and that reduction of yield in Sas- katchewan had also been severe, with likelihood of further injury by frost. Reports of farm storage of domestic looked for a govern-| May - that wheat produc-| Sept. A still greater surprise | Sept Jay in the showing made of unusual | Oct. smallness of the crop of hard wheat) RIBS— wheat continued meanwhile to offset more or less a notable absence of export demand. Lighter receipts of hogs and a lit- tle better export trade gave firmness to provisions. Today's range of quotations fol- lows: | WHEAT— Open High Low Close Sept 99% 99% 98% 99% Dec 1.03 1.03% 1.02% 1.03% May 1.08 1.08% 1.07% 1.08% CcOoRN— Sept. s1T ITM 76% 76% Dec, -----. .63% .63% .62% .62% 65% 65% 64% .64% OATS— —- 86 86 .35% .385% Dec. . 87% 37% .B7% .B7% May - 41 Al 40% 40% LARD— 10.72 10.75 10.70 10.75 10.80 10.90 10.80 10.90 Sept. - 8.10 Oct. - 8.10 Cash Grains and Provisions. CHICAGO, Aug. 11.—Wheat— 2 * <, | New York Stocks Oil Securities (By Wilson. Cramer & Company) Ailiea Chemical & Dye — 61% me: Can Asnaktodn LOCAL OIL STOCKS American International Garp Bid As American Locomotive __. 73%| Bessemer ---—_ 22 25 American Smelting & Refg. Big Indian - aL 13 American 8 Boston Wyoming 70 +880 American Buck Creek ~--..-. 12 14 poco ate Burke —... oad 29 erican Fs fariacbaida, Gopher: 39% | Black Stone Salt Creek 27 29 + | Chappell - +30 32 Atchison 96% ‘Atl, 32 }3| Columbine ...--..-_. .09 aL in 1134 | Capitol Pete -- 00% 00% Baltimore and Ohio 48%, | Consolidated Royalty 118 120 Bethlehem Steel _ 48% |Cow Gulch ~. ee Ty 02 California Petroleum 19% |Domino . S785 13 Canadian Pacific 145 B| Bikhorn — ee 04 Central Leather __ %|E. 'T, Williams = 62% 64 Cerro de Pasco Copper F - 40 45 Chandler Motors ___.. 49 |r 400 00 Chesapeake and Ohio 58%! Gatees 07 ax Chicago and Northwestern — 64 ‘jupiter ‘o1 2, Chicago, Mil and St.Paul 25" (mney “t9 “m1 Chicago, R. I. and Pac. 20% zm - - Chile Copper — 26 | Kinney Coasta’ 26 27 Chino iCopper |. 17 |lance Creek Royalty. .00% .01 Consolidated Gay 60% | Lance Creek Royalty . .01 02 Corn Products |. 120 | Marine —___ 450 Cosden Ob _— 33 |Mike Henry . 2 1 Crucible Steel 61% | Mountain & Gulf -.-_- 46 Cuba Cane Sugar pfd 37. |New York Oil - 9.00 10.00 boi Maa 13% | Picaray - 03 04 General Asphalt 25 | fea" Bank E geeet | Sa0oT? General Electric 175 _ = x Jeherat? Baotone * 14% | Royalty & Producers - .05% — .06% Great Northern pi 54% | Sunset =| 308 208, Gulf States Steel — 70% | Tom Bell Roy - 01% 02 Illinois Central — 105% | Western Exploration — 325 350 Tnspiration Copper 28 | Wyo-Kans. -_..------ .10 15 International Harvester 74 | Western O11 Fields — .70 -80 Int. Mer, Marine pftd. 4 16 Internatidnal Paper ly. an nvincible Oil —-. % Kays Springfield Tire 204%]. NEW YORK CURB CLOSING ianinesorti Coupee & 33% | Mountain Producers .$ 12.75 $ 13.87 Lima Locomotive: = 61 8| Glenrock Oil ae 75 85 Louisville and Nashv 88 | Salt Creek Pris, - 16.75 ‘16.87 Mack Truck - 74% | Salt Creek Cons. .... 7.00 8.00 Marland Of _ S. 0. Indiana ~ - 52.87 53.00 wire einer Me és, |New York On - 9.00 10.00 Middle States as Missouri, Kan. and ‘Tex (new) - 10% | Marine -— ea eras Missouri Pacific pfd - 2 38.50 few York Central — 10.50 .¥., N. H., and Hart! z mia Eas 2 we poser 2 — " ! Lal Saito aaier ¥O1 7 |Citles Service Com, 132.00 133.25 Pacific Oil --.-. Pan American Petroleum B — ---$100:10 Pennsylvania, 95.50 People's Gas ~ rece 88B| Second 4s -. 98.18 Producers and Refiners — 98.40 Pure Ol -. 183. | Second 4%s - 98.20 74% |Third 4%s 8.29 438] Fourth 4% 98.40 Sears Roebuck 2% Sinc’air Cdn Of 22 Southern Pacific 85% Southern Railway 31% s Standard Oil of N. J. -— 33% Livestock Studebaker Corporation 192% Texas Co, ----.--- 42% Texas and Pacific — 15%, ‘Tobacco Products A 808 Prices Transcontinental Oil 4 CHICAGO, Aug. 11—(U. S. Depart- Union Pacific ——_ 127% | ment of Agriculture)—Hogs receipts United Retell Stores: -— 71%) 7,900 steady with Friday's averages; a eee 45%4 B| steady to 16c lower than Thursday's Mea eae, — 37% | average; bulk good and choice 160 nited States Steel 8% tah Copperas =e 58 | to 240 pound averages 7.80@7.95; top ‘Westinghouse “Milectria Lo. 58, | 8.00; bulk desirable 250 to 325 pound ‘Willys: Overland _------__ 74 | butchers 7.45@7.75; bulk packing sows American Zinc, Lead and 8% B | 5.85@6. strong weight pigs 6.75@ Butte and Superior —.—_. 17% | 7.00; estimated holdover 6,000; heavy- Colorado Fuel and; Iron — 26 B] weight light 6.85@8.00; Nght Nght 6.65 Montana Power -. 55% DB] @7.70; packing sows smooth 6.50@ National Lead 6.25; packing sows rough 5.50@6.80; Bhat uk arpa Killing pigs 6.25@7.00. Cattle—Receipts 1,000; compared with week ago; Better grades beet Standard Oil Stocks steers, yearlings and fat she stock 25 to 50c higher; others slow, uneven; top matured steers 12.45; best long yearlings 12.10; yearling 12.00; can- NEW YORK CURB ners and cutters 25 lower; bulls steady Open Close} vea'ers 25c higher; desirable stockers Anglo -.. 14% 15 |and feeders around 50c higher; others ckpravtal + 85 «87. | slow about steady. Bulk prices fol- Ceciriena 1024 34 | iow. Beet steers 9.25@11.25; xhe a iy “3 f2 | Stock 4.80@8.75; stockers and feeders Tilinois 157% 158 | 5-35@6.75; canners and cutters 2.50@ 97 9g | 3.30; vealers 11.50@12.50. 24 24%4| Sheep—Receipts 2,000; today’s trade 97 99 |nominal; receipts mostly direct; for 103 105. | week: Western run 179 doubles. Com- 55 56%| pared with week ago. Fat feeding Praipie Of] 180 182 | jambs 25 to 35¢ higher; eulls generally nme 103 104} 50c higher; yearlings and aged stock Sou. Pipe 96 9g | mostly higher; bulk western lambs" S. 0. Kan 41 43 | 12.50@ bulk natives 11.75@12.00 8. 0. Ky 90 91 | culls 8.75@9.50; aged wethers 7.00@ S. O Neb. 225 230 | 8.75; bu'k Nght weight: ewes 6.75@ 8 O.N. ¥. — 394 3914 | 7.50; extreme top 7.75; medium and S. O Ohio 280 = 290 | handy weight 5.50@6.50. =e 45 : Ho iz 49 Se 53 Omaha Quotations OMAHA, Neb., Aug. 11—U. 8. pe TTT, | partment of Agriculture}-—Hogs—! ceipts 5,500; market 10@20c higher; Cru bulk butchers 7.00%7.75; top 7.60; bulk de Market mixed loads carrying packing sows and ligths 6.20@7.00; packing sows mostly 6.00@6.40. pS aataires feopes Ht] Cattle—Receipts 700; run mostly dt: Osage ars) 1.70 | "ect to yard traders. Compared with tees Goes ee i70| Wee kaso: Choice and prime steers, Torchlight T7o| Yeatlings and she stock fully 25c @k Basin ~ 77 27} | higher; medium and good grades red, $1.00% @1.01; No. 2 hard, $1.00% | Greybull steady; common unevenly 15 @25c low- @1.02%. Rock -Cree er; bologna bulls mostly 60c lower; Corn—No. 2 mixed, 87%c; No. 2] Salt Creek ~ 1125 | beef bulls steady; vea's steady; stock- yellow, 88@88%c. Big Muddy 1/25 | ¢TS and feeders mostly 10@15c higher Oats—No. 2 white, 87% @38%c; No.] Humilton 1/25 | Pots more on fleshy feeders; closing 3 white, 36@38c. Mule Creek ‘9g | bulks as follows: Bulk fed steers Rye—No. 2, 66c. — and. yearlings 8.50@11.00; week's top Barley—53@ 62c. , 11.80} grass cows and heifers 4.00@ Timothy seed—$4.85@6.50. Clover seed—$15.00@17.00. Pork—Nominal, Lard—$10.65. Ribs—$7.75 @8.62. GREAT OIL FIELD IS FOUND AT EL PASO ‘What be one of the best light off fields on the continent has been recently uncovered about 18 miles north of El Paso, according to the El promises to Paso Herald. The ofl was found by Burns & King who have been wildcatting in that vicinity for the last three y« and who have two producers at the present time. ‘The oll is reported high gravity with @ paraffin base. The first well put down struck a 10,000,000 gas flow before the oi] was reachet. ‘The Cinco Minas company is putting down a third well at the present time, the acreage being prac tically all in the control of Burns & King, who put down the two discov ory wells. ‘Tho field has been named the Nowman field, ne Although no tests have been run on either well, the production of the) two is estimated at several thousand barrels daily by the owners. Butter and Eggs ~-CHICAGO, Aug. 11—Butter un- 6.50; Gry lot she stock 6.25@8.50; : week's top yearling heifers 9.85; bol- Foreign Exchange ogna bulls 3.75@4.25; beef bulls 6.25 @6.50; light veals 7.75@9.00; heavies 6.50@8.00; stockers and feeders 5.50 NEW YORK, Aug. 11.—Foreign ex-| @8-00; week's top fleshy feeders 9.50. changes, firm. Quotationa in centa;| Sheep—Recetpts 1,600; lambs clos- Great Britain, demand, 4.56%; cables, | !n# 10@15c higher; fed clipped lambs 4.57%; 60-day bills on banks, 4.54%. | 11.50€)11.75; compared with week ago: France, demand, 5.67%; cables, 5.63. | Killing classes steady to 25c higher; Italy, demand, 4.27; cables, 4.27%. | feeders 2bc @40o higher; closing bulks Belgium, demand, 4.50; cables, 4.50%. | 98 follows: Germany, demand, .000035; ‘Western’ fat lambs |12.006)13.28; ‘nar 000087. Holland, demand, 39.34; | tives 11.25@11.0; fed clipping lambs cable, 39.37. Norway, demand, 16,27.| 11.50@11.75; ght ewes 6.00@7.00; Sweden, demand, 26.60. Denmark, de-| heavy ewes 3.60@4.25; feeding lambs mand, 18.35. Switzerland, demand, | 12-25% 12.60. 18.17. Spain, demand, 13.70. Greece, demand, 17.4. Poland, demand, .0004%. Czecho-Slovakia, demand, 20.2. Au- stria, demand, .0014%. Rumania, de- mand, .49%. Argentine, demand, 92.62, Brazil, demand, 10.12. Mon- treal, 97 21 Potatoes CHICAGO, Aug. 11 — Potatoes stronger on cobblers, steady on early Ohios; receipts 160 cars; total U. & shipments 279; Kansas and Missouri Ay chalked up against some issues earlier in the day. A factor in the general heaviness of the market during the week was the announcement of Germany's policy to continue passive resistance in the Ruhr region. Price changes generally were re- garded as inconclusive. Owing to the absence of a number of large traders and the natural disposition of others to defer extending their commitments until after the day of national mourn- ing, the real test of the market's in- herent strength is not expected until next week. . One of the most significant develop- ments of the week was the publica- tion of the government's crop fore- cast showing the condition of spring wheat to be 69.66 per cent of normal, or approximately three points below earlier estimat This was inter- preted as bullish by the grain trade. Another sharp collapse took place during the week in German marks, which were quoted as low as 17 cents a million, as compared with ninety cents a week ago. The weekly reich: bank statement showed an increase Marine Ready Test of the Sheldon Dome Marine Ofl company has rig up, casing and equipment on the ground for the.start of its second test of the Sheldon dome. Fremont county, Wyo., where the original test was recently abandoned after fatture to sidetrack tools lost in the hole. Some gas and oi] had been discovered in the sand before the hole was lost. In the Salt Creek field the company is in the first well creek sand at 2,- Oll fields of the Rocky Mountain district produced an aggregate of 142,480 barrels a day during the week ended August 4 a# compared with 164,340 barrels for the week ended July 28, according to announcement of pipeline runs. The reduction, amounting to 11,860 barrels a day, was due largely to a falling off in Salt Creek runs, which had reached record point during the previou week, A comparison of runs by fields for the two weeks named follows: Fields Aug. 4 July 28 Salt Creek 104,500 116,600 Teapot 3,650 4,300 of nearl twelve trillion marks in note circulation. French and Belgian franes also dropped to new low levels for all time, in response to the un- favorable political and economic de- elopments abroad. Active leather shares dropped to new low prices for the year as a result of unsatistac- tory trade conditions, the principal companies still operating under a deficit. Shippings and chemicals also had another sinking spell. Motors and motor accessories improved some- what on publication of excellent earn- ings reports by some of the smaller companies. Coppers held firm on heavy domestic demand for the red metal. Steels began to reflect the improvement in forward business re- ported by the steel centers. Good buying power developed in the rails as a result of excellent earnings and traffic reports by some of the non- dividend paying roads. Northwestern rails, which had been heavily de- pressed, also displayed a firmer tone. Placing of American Locomotive on a six per cent basis helped the equip- ment shares. to Start New 260 feet with {ts Marine No. 4, sec- tion 17-39178, and is running liner in its Marine No, 5 at 2,714 feet. On section 8-39178, Wolverine CR-1 is down 800 feet and Wolverine DS-1 is being cleaned out. The company’s test of the Carneiro, Kansas, structure should finish un- derreaming next week and drilling wil be resumed after casing is set. Decrease in Oil Pipeline Runs Is Shown for Week Big Muddy .. 3,615 8,700 Lance Creek 575 Pilot Butte -. 110 Lander -.-. 625 Lost. Soldier -..--.... 5,500 Rock River —~--_--. 4,250 Grass Creek --.--.. 5,230 Hamilton Dome --. 965 Elk Basin . a 1,950 Notches Greybull ---------. 0 1,175 199 5,885 2,375 Miscellaneous - 670 Total .. 142,480 154,340 Some business men do. salaried salesman out on the road, betting his railroad fare, his Pullman ticket, his salary and his hotel bill that the man he wants to see will be That’s where the bulk of selling costs are. But there are lots more business men who telephone first. If the deal can’t be closed Long Distance they at least know whether the salesman will see his prospect, by The high cost of personal interviews can be cut down by the use of the telephone. And the cost of the telephone can down by the use of the lower rates. to your directory or call information. Then use the lower rates to save money and make money. Others do. The Mountain States Telephone and Telegraph Company Do You Gamble in Expense Accounts? They send a high- in when he arrives. e cut Refer Cotton ht changed; creamery extras, 42; stand- " arts, 41 1-3; extra firsts, 40 @ 41; el firats, 38 @ 89; seconds, 38 @ 47 NEW YORK, Aug. 11.—Cotton, Egew unchanged ; recetpta 13,120| spot, quiet; middling, $25.25. r first, 24 @ 28; ordinary firsts, Bercy. 32 @ 32 1-2; storage pi eicivas, Noarly 600 untversities and othe higher educational institutions are in the United States, | 27:12; mtorage pack firsts, 26. . ~ sacked cobblers 2.00@2.35 cwt; Kan- sas sacked early Ohios choice num- ber 1, 1.60@1.85; Minnesota sacked early Ohios ungraded 1.20@1.50 cwt. ee NEW YORK, barely steady. Eggs and cheese, firm. + Aug. 11.—Butter, Bae | One Policy, One System, Universal Service, and All Directed Toward Better Service SUNDAY, AUGUST 12, 1923. American Smelting 5s American Sugar 6s --__ American Telephone and . 6B American Telephone and ‘Telegraph col tr., 5s Anaconda Copper 7s, 1938 — Anaconda Copper 85,’ 1953 At. T. and San Fe, Gen., 4s —. Baltimore and Chio cv., $448 Bethlehem Steel con 6s, Series A -.. Pacific deb., 4s |. and St, Paul cv., Chile Copper, 6s Tire 8s, 1941 _. Great Northern 7s A Northern Pacific rei Northwestern Bell T, 7 Pacific Gas and Electric 6s in, R. R. gen., 58 Sinclair Con Oil col 7 Southern Pacific cv., 4! Union Pacific First 4s U. 8. Rubber 58 Utah Power and Light 6s Western Union 6%s __. Westinghouse Electric 7s Wilson and Company cv., 6s _ 5: 445 forerunners of our street county and state events, were inst tuted in Italy about 500. _——— Surveying and Locations Geologists, Oil Experts, Oil Field Maps, Blue Prints WYOMING MAP AND Silver NEWYORK, Aug. 11—Bar silver 63; Mexican dollars 48 Flax Seed. BLUE PRINT DULUTH, Minn., Aug, 11.—c1 co. flax: September, $2.26; October, Regan te $2.26%; November, Room 10, Daly Bldg, $2.26% bid; De- cember, $2.23% bid. PS Than You Buy Most men use shaving cream to take the stubbornness out of their whiskers, But it isn’t just cream they buy. A slight squeeze of the little tube and out pours a quantity of prepared convenience—the luxury of not hav- ing to “work up” a lather, as was common with old-fashioned slow- acting soap. Public Utility service is prepared convenience. It is the many uses we put it to, the many discomforts and inconveniences that it dispenses with, that makes it so valuable. One difference between shaving cream and Utility service is that the cream maker fixes the price he gets, while rates for Utility service are legally fixed. 2688 R ‘See Natrona Power Co. EFFECTIVE THURSDAY, AUG. 9 Arrangements will be made for through - ger service Casper to Billings. lee seed Cui Leave Casper C. & N. W. Train No. 41 7:30 a. m., transfer by automobile Shoshoni to Bonneville, CB. & Q. regular passenger train No. 29 Bonneville to all points west. South-bound C. B. & Q. Train No. 380, Billings to Bonneville, transfer by automobile Bonneville to Bho- shoni, C. & N. W. train No. 42 leaves Shoshoni 6:00 p. m., arrive Casper 11:00 p. m. No change in service east of Casper. Train No. 30 leaves Casper on regular schedule 8:35 Pp. my, C.B. & Q. RY.