Casper Daily Tribune Newspaper, September 23, 1923, Page 17

SUNDAY, SEPTEMBER 23, 1923, STOCKS CLOSE WEAK IN BETTER: DEMAND a= Decline Brought About by Heavy Liquidation of Oil Shares Brought to Halt in Short Session of Gotham Exchange NEW YORK, Sept. 22,—Today' brief session of the stock exchange witnessed marked recovery from re- cent heaviness, with improvement most noticeable in food, rubber, steel and equipment shares, several of the leaders scoring gains of one} or more points. Short covering was a factor in the upward movement and selling pressure was also re- Neved, the failure of operators on the bear side of the market to un- cover weak spots leading to a re- versal of sentiment in some quar te ‘he session was quiet, total sales approximating only 300,000 shares but rails were in demand on pros- pects of good August earnings and the closing was firm, Low week for many stocks were within two points of the lowest quotations of the year, both accounts having indulged in heavy selling precipitated Ohio Nearing Several Wells in State Ohio Ol! company completed no new wells for the week just ended but the status of routine operations shows steady progress and several wells near the producing horizons In several fields. The drilling report follows. Kevin-Sunburst No, 1 Phillips at Malta, sec, 21-24-) 24; drilling at 450 ft. No. 2 Huebschwerlen, Sherard dome, sec. 16-25-17; digging up, No. 1 O'Hatre, sec. 35-36-2w; ning ner at 1680 ft, No, 3 Larson, sec. 17-35-2w; drill. ing at 1425 ft. No, 7 Davey, sec. 8-35-2w; side- tracking 8%4-in. casing at 1325 ft. Salt Creek No, 4 Tract ET, sec, cleaning out at 2782 tt No. 2 Tract G, account No. 1,; seo. 17-39-78; cleaning out at 2608 ft, No. 1 Tract G, account No. 2, sec. 17-39-78; plugging back to 2675 ft. from 2785 ft. No. 3 Castle Rock, account No. 2; sec. 12-39-79; fishing for casing at 1847 ft. 20-39-78; Rock River No, 2 Harrison-Cooper, E% sec. 3-18-78; drilling at 3365 ft. 2 Harrison Cooper, W% sec. 11-19-78; drilling at 2511 ft. No. 2 Diamond, sec. 27-20-78, fish- ing for casing shoe at 2000 ft. Producers and Refiners prices recorded during the | by Mquidation of the of] shares in response to passing of dividends and |) continued reductions in the price of \crude oils. Uncertainty raised by conflicting |statements on the condition of the jou industry and its outlook added |some confusion to trading. E. H |Dohepy, chairman of the Pan- American companies, expressed the opinion that the crest of California Production had not yet been reached. Harry F, Sinclair said that the peak had been passed, and that Mid- Jeontinent crude ofl prices had jreached bottom figures, Steel shares were forced lower }on reports of lessened production and cuts in prices by some of the independents. Rubbers gave way to lower tire prices. American Woolen brokegsharply on rumors of unsatisfactory trade condittons, but ails were inclined to strengthen on reports of high loadings, Sands With No, 10 State Land, sec. 84-20-78; drilling at 2225 ft. Grass Creek No, 68 Milliron, sec. 20-45-98; ce mented casing at 2178 ft. No. 89 State Land, sec. 19-46-91 {drilling at 1968 ft. No. 19 Wiley, sec. mented at 1951 ft. Lance Creek No. 1 Thompson, sec. 6-35-65, pull- ing 8@-in casing at 3360 ft, No. 1 Schuricht, sec. 5-35-65; drill- ing at 33365 ft. No, 2 Cash, account No. 1, sec. 4-56-65; shut down at 8100 ft. Baxter Basin No. 1, sec, 14-17-104; spudding in. No. 1, sec, 22-16-105; pulling 10-in. casing at 2362 ft. Oregon Basin—No. 1, sec. 8-51-100; drilling at 1715 ft. O'Brien Springs—No. 2, sec. 2-24- Grilling at 3325 ft. Mahoney Dome—No. 8, sec, 36-26- 88; pulling 8-in. casing at 2620 ft. Rex Dome—No. 1, sec, 31-48-91 drilling at 3410 ft. Utah—No, 1 Coalville, sec. 6-2n-6¢; fishing for too's at 1770 ft. Byron—No. 1, sec. 82-56-97; fishing for bailer at 1400 ft. Elk .Basin—No, 14, seo, 30-58-99; straightening crooked hole at 1155 ft. Hidden Dome—No. 1, sec. 31-40-78; sidetracking 8%-in. casing at 2340 ft, 18-48-98; ce- Operations Show Progress Steady progr on all of its frilling operations {s reported by the Producers & Refiners corporation for the week ending September 21. No completions were made during the past week. The reports are de- tailed as fo'lows: Salt Creek. No. 1, sec. 15-40. cemented at 2,389 ft. No. 4, sec. 15-40-79; blue shale at 1,700 ft. No. 7, sec. 15-40-79 blue shale at 2,176 ft. No. 2, sec. 18-40-79; pulling 8%-in. easing at 2,500 ft. Mahoney Dome, No. 2, sec. 4-36-88; cleaning out at 2,775 fet., total depth of hole 2,883 ft. sec, 29-26-88; cleaning out ing at 1,442 ft. No. 1, sec, 33-26-88; underreaming at 2,360 ft. No. 3, sec. 1,575 ft. standing drilling in drilling in 35-26-88; drilling at Ferris Field. No. 22, sec, 25-26-87; pulling 10-In. casing at 1,845 ft. No. 6, seo. 25.2687; cleaning out at 1,805 ft., total depth 1,880 ft. Market Gossip No, 23, sec. 27-26-87; waiting on crew. Simpson Ridge No. 1, sec. 16-21-80; shut down waiting on repairs for Star machine at 605 ft. No, 1, 2,110 ft, No. 3, sec. 20-21-80; 570 ft. sec. 20-21-80; drilling at drilling at Sand Draw No. 2, sec. 9-32-95; lowering 1214- in. casing, underreaming at 1,616 ft. No. 3, sec. 15-2-95; fishing for tools at 2,388 ft. Enos Creek—No. 1, sec, 26-40-100; drilling in shale at 3,300 ft. Thornton Dome—No. 1, sec. 8-48- 65; shutdovjn, repairing bolier at 2,115 ft, Garland Structure—No. 1, sec. 30-56-97; underreaming for 12%-in. casing at 1,470 ft, Wertz—No. 3, sec. for boiler at 2,630 ft. Bell Springs—No. drilling at 1870 ft. Sherard Dome—No. 1, sec. 14-25- 89; drilling at 2,805 ft. Baxter Basin—No, 1, seo, 3¢-12 pulling 20-in, casing at 2,400 ft. 2-26-89; fishing 1, seo, 1-23-89; 10. NEWS AND QUOTATIONS BY LEASED WIR | New York Stocks a Gz & Foundry . — 155% International Corp 1% Locomotive -..--..- 69 Smelting and Refg. Sugar T. and T. Tobacco Woolen , Guit and West. Tndles Baldwin Locomtive Baltimore and Ohio Bethlehem Steel ----_.... Califarnia Petroleum -....... Canadian Pacific -----_.... Central Leather ~.-.._.. erro de Pasco Copper ....-.. Chandler Motors --_... Chesapeake and Ohio .. Chicago and Northwest Chicago, Mil., and St. Paul p: a Chicago, R. I. and Pac Chile Copper -. Chino Copper Consolidated Gas Corn Products Coscen Oil Crucible Steel Cuba Cane Suga: Erie = Famous Players Lasky -... General Asphalt General Electric General Motors ~ Great Northern pid. - Gulf States Steel Illinols Central Inspiration Copper International Harvester Int. Mer. Marine pfd International Paper Invincible Oll Kelly Springfield Tire -.... Kennecott Copper -. Lima Locomotive - Louisville and Nashville Mack Truck ~. Marland Oil . Maxwell Motors Middle States Oil Missourl, Kan and Missouri Pacific pfd. — New York Central - N. Y.. N. H., and Hartford Norfolk and Western Northern Pacific Pacific ON Pennsylvania - People’s Gas _ Producers nad Refinera Pure Oil - Republic Iron and Steel ---- Sears Roebuck Sinclair Con Of -_. Southern Pacific Southern Railway - Standard Oil of N. J. Tobacco Products A Transcontinental Oil Union Pacific ~~... —- United Retail Stores U. 8. Ind. Alcohol -. United States Steel Utah Copper - Westinghouse Willys Overland - American Zinc. Lead Butte and Superior ~ Colorado Fuel and Iron — Montana Power Shattuck Arizona ——<—— = Standard Oil Stocks NEW XORK CURB Anglo Buckeye Continental Cumberland Calena Minois Indiana Ohio Oi! ~ Prairie Oil -——. Prairie Pipe --. Solar Ref. Sou. Pipe .-. 3} Kan Union Tank Vacuum! 8. P. OF 8. O. Ind. and Briefs On eres in Oil Fields Pipeline Runs Increase An increase of 10,710 barrels is shown in dally average pipeline runs from fields of the Rocky Mountain district for the week ended Septem- ber 15 as against dally averages for the preceding week. Salt Creek gains account for & great share of the increase, Dally average runs by fields for the two perlods named follow: Field Salt Creek Teapot . ~..-.—~. Big Muddy Lance Creek ..... Pilot Butte Lander - Lost Soldier Rock River -.. Grass Creek Hamilton Dome ... Elk Basin -.. Notches Dome Greybull, ete < Osage - Ferris . Sept. 15 Sept. 8 130,200 121,125 4,300 4,210 3,745 2,815 465 520 85 80 480 5 5,600 4,110 6,175 510 1,950 500 195 5,540 3,055 5,120 500 1,975 515 180 1,045 190 6,535 2,140 Miscellaneous 575 600 Total ..-..--.~---166,265 156,020 Geary Dome Abandoned Continental Production company is Pulling casing to abandon deep test of company at Geary Dome, This operation has been under way for about 2 years and has probably cost in the neighborhood of $150,000, It was thought to have a chance for production at about 4900 ft. The Carter and Fensland companies were algo Interested in the Geary test. Tt was located about midway between Casper and Glenrock, Orude Runs to Parco Producers and Refiners Corpora, tion is now delivering Salt Creek crude to its refinery on the Union Pacific railroad at Parco near Raw- lins. The oll began to be received at the southern terminus of its 166 mi'e line Sept, 20 and is now being delivered at the rate of about 7500 bbls. dally, To date this is the Salt Creek Big Muddy Hamilton Mule Cree! Sunburst longest a!l-Wyoming oll pipe line in operation, The same corporation has com- pleted survey for pipe line for nat- ural gas from the Baxter field to Rock Springs, It has been stated that part of the material for the new line has been ordered but It has not been decided yet whether the| Une will be laid with the company’s own organization or by contract. Construction has been delayed wait- ing on completion of wells now drill- ing in the Baxter fleld by the com- pany. Potatoes CHICAGO, wea shipments 1,055; Wisconsin and) Minnesota sacked and bulk round whites U. 8S. number 1 and partly) graded 1.25@1.35 ewt.; poorly) graded and ‘immature 1.10@1.20 owt.; Minnesota and North Dakota! sacked and bulk sand land and Red river Ohios partly graded 1.15@ 1.25 cwt.; poorly graded field frosted 1.00@1.10 cwt.; Idaho sacked rurals U, 8. number a 2.05 owt. Sept. 22,—Potatoes Che Casper Sunday Critune Oil Securities By Wilson, Cranmer & Company) LOCAL OIL STOCKS Bid Asked 21 15 Boston Wyoming --.. Buck Creek -.------ Burke, ..----------=--- Livestock : THRIFT IS BUSINESS AID, BABSON ASSERTS Sees Improvement in Increased B ing Habit Can Be Urged on Money Helps to Make Money Columbine ~ Jonsolidated Royalty.. Cow Gulch Domino pee Jupiter — Kinney oCastal Lance Creek Royalty Marine’ --.---..... Mike Henry — Mountain & Guilt New York Ot .. Picardy . Bed Bank Royalty & Procucers — Sunset -....---. Tom Bell Royalty Western Exploration Wyo Kans ---. astern States NEW YORK CURB Mountain Producers Glenrack Ol ~~. Salt Creek Pras. 13.12 13.37 65 70 16.62 17.00 6.75 7.00 9.00 9.12 9.00 10.00 53.75 54.00 Mutual .... New York Oil 8. O. Indtana Livestock Chicago Prices CHICAGO, Sept. 22—(U. 8, De- partment of Agriculture—Hogs. Receipts 4,000; uneven; most sales steady at Friday’s average; few de- sirable ght steady to ten cents lower; welghty butchers steady to Strong; bulk better grades 185 to 240 pound averages 8.80@8.90; top 8.90; desirable 260 to 800 pound butchers mostly 8.60@8.70; packing sows largely 7.50@7.70; killing pl 25 to b0c higher; few desirables strong weight 7.00@7.75; estimated holdover 6,000; heavy weight hogs $.25@8.85; medium 8.55@8.90; light 8.00@8.85; light Mght packing sows smooth packing sows rough slaughter pigs 6,25@7.75. Cattle, Receipts 1,000; compared with week ago, matured beef steers exegpting strictly choice offerings largely 50c lower; spots considerably more; yearlings largely 25 to 60c lower; closing trade uneven at de- cline; top matured steers 13.00; best yearlings 12.60; western grassers steady to weak; she stock little changed; canners and cutters and bulls strohg; vealers 50c higher; Stockers and feeders steady to 25c lower; week's bulk prices follow: Fed beef steers 9.15@11.25; western grassers 7.00@8.00; butcher cows and helfers 4.40@8.50; canners and cut- ters 2.85@3,50; vealers 12.75@13.50; stockers and feeders 6,00@7.50. Sheep. Recetpts 5,000; receipts Reaetionlly all direct; no early sales, Senparen with week ago; fat lambs tly 50c lower: fat sheep and feed- er lambs generally 25c lower; some 50c down; closing top western lambs 14.50; natives 14.25. Week's bulk prices: Fat western lambs 13,85@14.40; natives 13.25@ 14,00; culls natives 9.50@10.00; year- Ung wethers 9,50@11.00; wethers 8.25 @8.75; fat ewes 5.50@6.75; feeder lambs 13.25@13,75; week receipts ten markets largest for practically two years. Omaha Quotations. OMAHA, Neb., Sept. 22.—{U. 5. Department of Agriculture,)}—Hogs —Receipts, 4,000; active; market averaged fully steady; light butchers, scarce; bulk 200 to 800 pound butch- ers, $8.10@8.40; top, $8.40; packing grades, largely $7.75@7.85; average cost Friday, $7.90; weight, 270. Cattle—Receipts, 200; compared with week ago: Fed steers and year- lings, stockera and feeders, 25@50c lower; grass steers, steady to weak; grass cows and helfers, 25@40c lower; canners and calves, strong: bulls, 25@36c higher; closing bulks: Fea ers and yearlings, $8.75@ 10.50; week's top, steers, $11.40; grass steers, $5.75@7.50; top for week, $8.60; grass cows and heifers, $3.40@5.00; canners, 2.25 2.00; bologna = bul $3.75@4.00; Nght veals, $8.75@9.75; stockers and feed- ers, $5.50@5.60; week's top, feeders, $8.25, Sheep—Receipts, 4,500; all direct; compared with week ago: Fat lambs, 25@50c lower; sheep, 50c lower; WELLESLEY HILLS, Mass., Sept. 22—Helping business b saving money instead of spending it may sound strange but that is what Roger W. Babson, the statist Proposes today in a statem the investment valuo of savin counts. “Why it is that tlate between bank vestment ond Farently men and women feel t the money which they bank is not “invested”. te think of {t as tied up in t the vault of the bank, The that just as soon as you depos dollar in the bank, that dollar loaned by the bank to some one to build a home, or to buy merchan disc, or is used for the purchase of bonds. When these bonds bought, the money is still the company issuing the perhaps for the developing water power or the buying road eq ly useful purpose. Therefore, ey deposited in a bani ts just as truly as any other monoy main difference {s that it ested by some one with ex ence and training instead of by one who may know li of financial matters, \ people differ accounts and bonds,— of of mon: nvested ttle Bank accounts have all the advan: j! tages of the most attractive invest ments. Among these may be mon tioned the following three: 1. Bank accounts are safe. Statistics wou probably show that smaller come from bank accounts than from any other field of investment. 2 Bank accounts are very liquid that {s to say, we can quickly our money at any time. Other forms of investment may “per manent” investments, Many of them are so permanent that they cannot be liquidated when desired. | 3 Bank accounts offer a good op- Fortunity for speculative profit, This may seem a strange statement but let us examine it “The real opportunities to make money are throug chances that come to take partnerships, to make special purchases or to do other things, which, if undertaken, often bring success. One never can tell when these opportunities will come but they do come to each of us two or three times in the course of our lives. They almost alwa a certain amount of c: be haps the new position offered means ~ working.for less than a living wag |for a while, ink cannot bank one bit of ma tail prices have increased from fifty a hundred or more per cent, dollar of ten years ago 1s worth only nut take jon a building which was built y that up and if we had a fire we would r the 0 we sho’ reg: Tust as things got better eround the first of the year, car the steam. would help s normal again.” elr savings ac rs, ank accounts to 8 ngo even though it was then insured for all it cost me & today fs the amount of money being wasted on things of only temporary value amount which {s being ‘banked’ for things This {s one re chart ank Deposits if Say- rite People; Ready Liberty Liberty Liberty Liberty Perhaps !t means tak- r or more for travel or he man with a bank ac nee the venture but man without a bank account Therefore, I say that a account offers an opportunity ecause it puts make a big ortunity comes. mphasize the im- accounts at the time because many people not increased their bank ac material ince the low s of ten year: For a great rs prices ran along a cer and people got into the carrying about so much in a ye ‘ench to Ameri Americ At ago. level ! cking account ness men, from large cturers to the humblest re felt that a bank account of rtain size was about what he 1 carry and he has held the idea up to tho present time. during the past ten years, to accord- to into conside Czechosloval: Jominion of Canada Japanese k <ingdom of UNITED 87. Sika * First Second, United States Rep., 8s Ret 4 ubli American Tel Anaconda. ( ATES ng into the cost of living, the sixty se we cents today. should As prices increase our correspond. We increased insurance today ten out The fact is the cost of building has gone to rebuild at much higher Therefore, we insure not on basis of the cost of ten years but on the basis of replacement f today. It seems to me that 11d follow the same principle rding our bank accounts. at trouble with business and the small proportionate of more permanent value. son why the Babson- has again so radically de- d, standing today at 10 per cent normal compared with 9 per above normal in February. people again got bank deposits fell off ana 1 began to let off bank balances art business up toward les 5 s, Corn Leads Way to Firm Demand for Wheat, Report CHICAGO, the way grain market to and May touching new the season.and wheat responding to | the advance with fractional on top of slight incres alre recorded during the week. wheat closing was fi ith ber quoted at $1.03@1.03% and M $1,08%. Damage from mould in was a prominent factor In bolstering the corn trading while excessive rains throughout the middlewest also contributed to the danger further damage. December closed at 69%o to 69%c. Wheat prices tained throughout the bearish reports from C: told of heavy*marketing this was the claim that prev estimates of production in Canna were based on acreage figures much | too high, Corn values do at times wheat market. ful that serious had been influence and the wet weatl a handicap. On th ports that Argent Sept. 22.—Corn to higher prices in the with September well veek ada main pite whii Offsetting we to the good deal with upholding Eyiden dama, had a to cor h effect on wheat here as the week drew Corn prices reflected ac immediate supplies a sponding to crop tiness of as re feeding lambs, mostly 25c lower; closing bulks: Fat western lambs, $13.65@18.75; week's top, $13.75; na. tive lambs, $12.35@12.85; ight and handy weight ewes, $5.50@6.00; feed ing lambs, $12.50@13.25; feeding | ewes, $5.00@5.50, Denver Prices. DENVER, Colo., Sept. 22.—(U, 6. Department of Agriculture.}—Hogs —Receipts, none; nothing on sale. Cattle—Receipts, 60; for week: Heifers, steady to 60c higher; calves. steady to strong; stockers and feed: weak to 25c lower; all other classes, steady to weak. Sheep—Receipts, 8,000; fat Utah lambs, $12.90; steady to strong; four cars holdover Wyo ming feeders, $12.60; steady; four cars holdover 65 pound Oregon feeder lambs, $12.40; no other sales; two cars 40c lower; top, $12.90; bulk, to $12.85; ewes, steady; breeder and fat kind, $5.50; feeders, $4.50; feeder lambs, steady; best, $12 bulk, $12.60 to $12.75 —- Flax Closing. DULUTH, Min Sept, |flax: September, 2.40; Octobe: |November, 2.3944; December, May, 2.37%. EW YORK, Se exchange firm. Quotation tain demand ; 60-day bills on banks France, demand 6.01% 6.02 Italy demand 4.61 51% demand 4; cables many, dé nd, .0000007; 100007. Hol- land demand 89.36 Jemand De nd demand 17 in cents. cabl 89.30; cables ark, der 3 Poland, demand 1.08; Austria mania demand mand 33.75; 0: Montreal .97 11-16 = demand 2.9914; Silver NEW YORK, Sept Bar silver, 65%; Mexican dollars, 49%. led | Oats were weakened a little by hedg- ing sales. Provisions averaged lower in line records for with hog values. Todays range of grain and provi- gains |sion prices follows: Wheat— Iilinois Sept. Dee. Ma Oats— of | Sept, Dee. Cash Grains and Provisions. SHICAGO, to,an end, | Foreign | - May 3 R ref Fin 8.75 Open 1 ey om INTERNATIO World Raion of the} Whole Oil A gathering of kind from. ex sentatives from nations. Acres endless exhibits. the history of PAGEANT Fraternity | Oil Men of every erywhere. a score of fore of buildings | Bigg: he in “PETROL JA” World's Hippodrome Show better show Reduced R: Write Reserve your R reservations ailroad Fares for Details allman now, Make lor hotel in Tulsa. Wnite today for folder to— set ens yre, General head i Ra ei hey nM SR High Low Close 1.01% .99% 1.01 1.02% 1.038 1.07% 1.08% 1.00 ~ 1.02% 1.08 85% 87% 08% 85% 67% 68% 86% 69% 69% 69% 70% +B9% 89% 4A2y 39% A0% 42% 39% 39% 42% 29% 40 42% ~-11.80 10,80 11.82 10.80 11.80 10.77 11.80 10.77 8,92 9.60 Sept. 22.—Wheat—No. 1, $1.05. 2 mixed, 88@88%c; No. i @ 890. », 2 white, 41@44o; No. 3 22.—Suger Approxi- October 3.88; | y res closed sales December 90. YORK, Sept. irregular, 10,600 tons, 4.81; March fined sugar tr y and unchan nates gran to 8.90. ined future were nominal, ting was quiet as most of the were closed, 8 {s quoted from Flour Prices. POLIS, Minn,, Sept , unchanged. Bran, 2 >-—_ — automobile news Care Tribune. Surveying and Locations Geologists, ts, Oi Field Prints Oil Kexp Maps, Blue WYOMING MAP AND BLUE PRINT CO, ¥. 0. Box 325 Room 10, Daly Bldg. Every once in will come into o and ask us to de aa regulations would like to person, and we of our ability, but we tice to ourselves violate the rules proved by the Pi mission. We feel, and that our rules an be applied impar casionally a customer mi IMPARTIAL SERVICE a whil ur viate from ot for his bene € or 1 pia accommodat the do so and ane res >; we d res ula rtially, and ht grieved because we tet not these rules all get the same , all can rest fair treat