Casper Daily Tribune Newspaper, November 14, 1923, Page 7

WEDNESDAY, NOVEMBER 14, 1923 he Casper Oally Cridune = PAGE SEVER. Finance P.& R.STRIKES OIL AT BELLE SPRINGS bas been given cut by P. & R officials, € If Belle Springs ts proven pro- ductive this will mean that the immense basin in Sweetwater and Carbon counties will have ofl fens from Lost Soldier on the west to this location in the east, with Ferris, Wertz and Mahoney domes between, and beyond Belle Springs it 1s expected the Medicine Bow structure will be brought in big next spring. Midwest Skull Creek Test _ Showing for Oil and Gas Production at 3,700 Feet ~~. Starting through cap rock into tte Lakota sand yesterday after. noon, the Midwest in its test of the Skull Creek structure in the north- west quarter of section 16-44-62, ‘Weston county, has struck a very g004 showing of ofl and some gas at about 3,700 feet. Information ebdtained from Newcastle this morn- outcome is made all the probable when consideration ts the geological estimate which the Lakota sand to be from Muddy or Newcastle sand at 3,470 feet on last May 4. Water was picked up in the Dakota sand but since it was not an artesian flow this tends to show the struc ture to be sealed, The Lakota is oll bearing at Mule Creek, 40 miles southeast of Newcastle. BH. G. Sinclair, head geologist of the Midwest, upon whose recom- mendation the test was drilled, will probably leave for Skull Creek to- day or tomorrow. The well was originally started by the Skull Creek syndicate and there are a number of Casper men greatly interested tn the outcome of this wildcat which was taken over not lorg ago by the Midwest. Banks Showing Consistent 14—The @ composite statement of the con- ‘dition of the national banks as of September 14, made public last night by Comptroller Dawes of the cur- rency. The statement discloses that although there were 8,239 national banks fn operation on that date, one leas than a year ago, almost every item figured into thelr combined re- last year. of $21,712,876,000 loans and discounts of $11,- or an increase of seven Gain in Strength, Report September, 1922, although the entire volume of government securities out- standing has decreased materia'ly in the year covered by the statistics. There waa, however, an increase of about one hundred million do'lars in the value of securities, other than those Issued by the government, which were held by the banks, The total deposits September 14 of $17,040,580,000 represents an in- crease of nearly half a Dillion dol- lars over the deposits reported in the call of September 15, 1922. Reserves of the national banks held in the twelve federal reserve banks, however, had dropped off slightly from the amount a year ago. The latest show the re- serve at $1,169,000,000 while In Sep- tember of last vear they were re- ported above §1,200,000,000. Two Producers Drilled In by Midwest in Week ‘Two compietions in Salt Creek,; Ambrosia Lake—Northwest quar- beth of which will require shots of {tro in order to induce flowing, , are reported by the Midwest for the past week. The first of these ts Creek Consolidated well No. e@outheast quarter of section 8-89-79, drifled in at 2,217 feet. The other is Wyoming Associated well No, quarter of seo tion 15-40:79, at 2,622 fect. Standing other is given as follows: ter of section 18-15-10, New Mexico, depth 1,830 feet; drilling, Hogback No. 5—Southeast quar ter of section 19-29-15, New Mexico, depth 18 feet; spudding. San Mateo—No, 1, southwest quar. ter of séction 14-14-8; ready to spud. Jones Dome—No. 1, southwest quarter of section 25-12-23; ready to spud. Golden Eagie Dome—No, 1, south- east quarter of section 11-45-97, depth 1,780 feet; drilling, Baxter Basin, 6-X— Northeast quarter of section 11-117-104, depth 2,655 feet; running 6%-inch casing. Elk Basin, well 2—Hlk 11, depth 285 feet; filling up and drilling out at 285 feet. Market Gossip On Operations in Oil Fields Potatoes CHICAGO, Nov. 14-—Potatoes ‘weak; receipts 68 cars; total U. 5. shipments 715; Wisconsin sacked round whites, U. 8, number 1, .00@ 1.05 cwt; bulk, dusties $1.10@1.15 ewt.; others .95@1.05 cwt.,; poorly sacked and‘bulk round whites, 75c@95 cwt.; Minnesota and North Dakota eacked Red Rivers, U, 8S. number 1, and partly graded, 20c@95 owt.; sacked round whites, 85c@1.00 cwt.; bulk, 80c@90 cwt.; South Dakota sacked and bu!k round whites partly graded, 85c@95 ewt.; Idaho sacked Russets, $1.30@1.85 ewt.; Michigan bulk Petoskey Rus sete, 950 awh, | Pipe Line company lines, and Briefs in any real work and be made for the Cali- Butter and Eggs CHICAGO, Nov. 14-—Butter—Un- Eggs—Higher; receipts, 8,588 cases; firsta, 45@51c; ordinary firsts, 34@400, Corning Crud Price Reduced PITTSBURGH, Pa., Nov. 14—A cut of 20 cents a barrel, making the price $1.25, was announced toda in Corning grade oil in Buckeye i Bonds : Stocks : Grain NEWS AND QUOTATIONS BY LEASED W [_New ore stoin ||" on seewitiee | STOCK TREND Allied Chemical & Dye —— 65% American Can ——————___. .98% Cuba Cane Sugar, pfd sou Erie —. 18% Famous Players-Lasky ——~~ .65 General Asphalt BLK General Electrio - 81 General oMtors 14% Great Northern pfa ———— .57 Gulf States Steel 79% Mitinots Central ————____1.02%4B Inspiration Copper 29 International Harvester -——. .75 Int. Mer. Marine pfa ————~. -M\% International Paper -————~ .33% Invincible O11 208% Kelly Springfield Tire .——. .28 Kenneodtt Copper 4K Lima Locomotive 68% Louisville @ Nashville 88% Mack Truck 80% Marland Of 20% Maxwell oMtors u Middle States O11 04% Missourt, Kan. & Tex. (new). .11% Missouri Pacific, pfd -—--.. .28% New York Central --————1.0145 N Y, N H & Hartford 14% Norfolk & odWstern L064 Northern Pacifie 4 Pacific Of 87% Pan American Petroleum B_. .56% Pennsylvania - ——= 41% Peoples Gas Producers & Refiners Pure Ol! Reading - ———________ Republic Iron & Steel —_. 454 Sears Roebuck 86% Sinclair Con. Ofl Southern Pacific Sinclair Con. Oll Southern Pacific Southern Railway Standard Ol] of N. J. Studebalter Corporation, -—1.09% Texas Co. .. 38% Texas & Pacific 21 Tobacco Products A Transcontinental Off —___ .02 Union Pacific —-..- 1.81% United Reta!! Stores O4XB U 8. Ind Alcohol --_______. .59 15% Colorado Fuel @ Iron —____ .238 Montana Power 61%B National Lead Wd 22uR Shattuck Arizona — WW 107 ————__ _——_ Standard Of] Stocks Bid = Asked Angio 14% 14% Buckeye 74 Continental 28% Cumberland 114 Calena —______. 60 460% Tilinots 154 Indiana 84 N. ¥, Tran 92 Nat. Tran 21% 23 Nor. 101 Pratrie 185 Prairie 93% Solar 176% 178 Bou Pipe 92 8. O. Kan 40 8. oO 96 8. 0. 225 8. O. 40% 41 8. O. 279 Union 95 Vacuum 51% 62 8. O. Ind 55% 55% 40 -70 5% NEW YORK, Nov. 14—Refined sugar was quiet and with fine granulated 8.75@8.90. Refined futures nominal. Sugar futures closed irregular. Approximate sales 66,850 tons. De- cember 5.32; March 4.83; May 4.4 July 4.51. > Sunset . 01% Tom Bell Royalty — .02 jon 3.50 Wyo, Kana bu ‘Western States a4 (nr |} 12 NEW YORK CURB OLOSING Bid Asked Mountain Producers 18.15 14.00 Glenrock Ol - 62 65 Salt Creek Prds 1750 18.00 Galt Creek Cons ——_ 6.23 6.62 Mutual . .-------10.00 10.12 S O Indiana 55.87 65.62 Cities Service Com 133.00 134.00 (O IRREGUY AR Rails Climb and Industrials Slump In New York Trading NEW YORK, Nov. 14.—Opposing speculative forces struggled for the control of today’s stock market, which presented a decidedly trregu- lar appearance. In a general way, | the rails moved nigher and the in- | Gustrials lost ground but there were numerous exceptions to the general trend in each group. Sales approxi- mated one million shares. NEW YORK, Nov. 14.—Stock Prices displayed a firm tone at the opening of today’s stock market. There was a renewed demand for the railroad shares which were strong yesterday but the initial gains, as @ rule, were small. Mal- linson Silk advanced one point. Strength of the Erie issues, which moved up one to two points to new high records for the year, featured the early dealings industrials again showed signs of liquidation, United States Rubber dropping two points, the first preferred 1% and American Woolen 1. American International corporation advanced 1%. Foreign exchanges opened lower. Recessions of a point or more took Place in many active industria shares in the first hour, traders sel} ing freely under the cover of a heavy buying movement in the low Priced rails, particularly the Erte issues, Offerings were fairly well j| sbsorbed and before noon the main Livestock Chicago Prices CHICAGO, Nov. 14—(U. 8. De partment of Agriculture.}—Hogs— Receipts 40,000; mostly 10c lower than Tuesday's average; bulk good and choice 200 to 825-pound butch- ers 6.90@7.15; practical top 7.20; one load to yard traders 7.30; de- sirable 160 to 190-pound averages mostly 640@6.85; packing sows largely 6.25@6.50; good and choice weighty slaughter pigs £.50@5.75; heavy weight hogs 6.70@7 med- 6. tum 55@7.50; ght 6.30@7.05; Ught Ught 5.50@6.70; packing sows smooth 6,3 packing sows rough ; slaughter pigs 5.00@5.80. Cattle—Receipts 13,000; fed steers and yearlings steady to 15c higher; killing quality improved; top ma- tured steers 12.65; best mixed year- lings.early 12.00; some held higher; several strings young steers 11.25@ 1 according to quality and con- dition; severa! strings weighty steers 9.50@10.50; western grass steers about 15.00 head offered sharing advance; several she stock, bulls rather slow; fully steady; vealers unevenly higher; packers taking bulk at 8.560@9.00; outsiders hand picking at 10.60 and above; stockers and feeders slow, weak, Sheep—Recetpts 15,000; active, gat lambs and yearlings strong: sheep and feeding lambs around steady; early bulk fat lambs 13.00@13. 13.50; Ught weight yearlings 11.75; good kind 11.25; cull natives mostly 10.00@10.50; choice light weight fat 00; no early sales feeding OMAHA QUOTATIONS, OMAHA, Neb. Nov. 14—(U. 8. Department of Agriculture)—Hogs —Rece!pts 9,000; slow, steady to 100 lower; mostly steady on good and choice 200 to 285 pound butchers to shippers; bulk desirable 200 to 825 pound butchers, $6.55@6.70; top, $6.75; mixed loads carying packing sows and lights, $6.40@6.50; packing sows, $6.20@6.4 packers bidding 10@150 lower; few sales eround lower; average cost yesterday $6. weight 260. Cattle—Recetpts 6,200; beef steers; higher; bulk fed steers and yearlings, $8.00@10.00; grass steers to killers, $5.00@6.00; grass cows and heifers, $2.25 @5. canners and cutters, $2.25@3; bulls 10@150 lower; bulk bolognas $2,75@8.25; veals, She steady; fed and western wooled lambs, $12.25@12.75; natives $12@ 12.60; fed clipped, $11.75@12.15; best yearlings, $9. ers up to $7. bulk handy weight ewes, $5.50@6; top, $6.25; fed clippea ewes, $5.50; feeders steady; feeding lambs, $11.75@12.75; feeding ewes, $5.25@4.50. —- Denver Prices Nov. 14-0. 8. De partment of Agriculture.)}—Hogs— Receipts 1,400; few odd lots steady; most sales 10 to 150 lower; few late bids off more; practical top 6.85, paid for 195 to 210-pound averages; other 170 to 230-pound aver- j; few drive ins 6.90 to 7.00; Packing cows steady, mostly 5.75; fat pigs mostly 5.75, steady; stages around 4.50. Cattle—Recetpts 8,300; catves 200; steady, fat cows 4.85 down; best heifers 5.25; bulk cows and helfers 3.00 to 5.00; canners mostly 1.75; bologna bulls mostly 2.50; stockers early 4.50 to 6.40; feeders 5.50 to 7.00; horned feeder heifers 4.25. Sheep——Recetpts 5,000; fat lambs | around 10c higher; top 12.60; paid for Silver | to 86-pound averages; few loads 12.50; no sheep #014 early; no feeder | lambs offered. NEW YORK, Nov. 14.—Bar silver 63%; Mexican dollars 48%, eS ne For results try a Tribune Classi- fled Ad, ~ aE ," ae a ‘op| would you price tendency again appeared to be upward, Maxwell Motors A jumped 4% points and Stromberg Carbu- retor, Jones Brothers Tea and Julius Kayeer advanced two each. Moderate strength also was shown by some of the olls, notably Cos- den, General Asphalt and California Petroleum. New weak spots cropped out from time to time in the spec- falty st. Call money opened at 4% Per cent. Profit taking sales were invited in the Eries when their top prices showed an average rise of four points on the week. ‘Their resultant decline assisted professional preshure elsewhere, the whole list turning downward after midday. Subs quently marking up of selected stocks caused the list to harden again, The closing was trregular; strength of the Maxwell Motor issues which advanced three to six points on rumors of merger negotiations with the Studebaker corporation was the feature of the late dealings. pbrrntelbe tA an tsi TOWER TALKS A good gas well in a good location has a good oil well in a'most any location beat. For instance, there is the reported gigantic gasser of the Union Of! company near Wel- Ungton, Colo. Let it be assumed that instead of getting around 95,- 000,000 feet of gas, a 10,000-barrel gusher had been brought in. Which rather have? Crude Prices fluctuate up and down but the price per thousand on gas runs smoothly along at approximately the fame level. The Wellington well will, if it is really what it ts said fo be, mean millions of dollars to the Union and a tisfactory sup- ply of fuel for Cheyenne and north- ern Colorado cities, Bome pep has been added to the drooping spirit of the “oll boys" to- day by the excellent reports on Wel- Ungton, Skull Creek, and Belle Springs. Stock or units held tn the Skull (00 | Creek syndicate were guiltily sec- reted until morning. Now they are wearing their holiday plumes, and though . their artistic decorations show up well in the market, none of their holders seem willing to let go. ‘Two weeks have elapsed since a drilling cable was started from Thermopolia on !ts way to the top of Black Mountain, 40 miles eas where Utah O!! Refining company {s drilling a test and now have some black of! in the Tensleep sand. The cable is not on location yet. Draw yeur own conclusions as to what !s holding tt up. Horses and trucks and tractors have all been employed on this one little line, ‘There seems to be no anxicty about the outcome of the test drill ing at Rozet near Gillette in Camp- bell county. A breezy bulletin in one of the Gillette newspapers last Thursday told of the of] soon to be encountered. The hope ts that a gusher will find its way to the light, and fn the meantime there is noth- ing to do but awalt further word ‘The Wyoming Petroleum club will hold its first open meeting next ‘Tuesday evening at the court house. | Every man who is any way con- nected with the o!l industry, 1s asked to become a member of this newly formed organization, ‘When will the Schuster Brothers build their refinery west of Casper mear the Producers and Refiners absorption plant? Probably not un- til off starts to ease back to the top of the price tank again, Another questfon: When will the highway between Casper and Evans- yille-be paved? It needs it all right. CAR ts at FLAX. DULUTH, Minn., Nov. 14.—Close flax: Nover 2.40% cember 2.40%; - January, 2.40 nominal, 2.40% bid asked; De- | WHEAT PRICE SHOWS GRINS Slight Recovery Recorded From Weakness In Tues- day’s Market CHICAGO, Nov. 14—Athough wheat showed a little weakness at the start today, the market soon scored moderate gains. Offerings were limited and commission house buying was of sufficient extent to give values an upward trend. This buying appeared to be based more or less on opinions that at least for the time being all depressing factors had been discounted. The opening, which varied from unchanged fig- ures to 4@o lower, with Decem- ber $1.08 to 1.03% and May $1.08% to $1.08%, was followed by a general upturn to well above yesterday's finish. Despite arrival here of 350,000 bushels of Canadian wheat. duty paid, the market showed only tran- sctent sethack@ later, but gossip about readjustment of wheat tariff wan renewed. The closs was un- settled, at %@% cent net advance. December 1.03% to 1.03% and May 1.08% @% to 1.08%. Favorable weatber conditions had @ bearish effect on corn. After opening unchanged to % @%o lower. December 76 to 76%0 the market underwent a setback all around. Continued weakness of hog values was talked af as a bearish influence in the corn market. The close was unsettled at the same as yester- day's finish to belt and % lower, December .15% to .75%. Oats were steady in the absence of any special selling pressure, start- ing unchanged to gc off, May 44%c, and later holding at about the initial figures. Provisions were neglected. Open High Low Close Wheat— Dea. -—~.1.03 1.03% 1.02% 1.08% May -—~.1.08% 1.09 1.08% 1.08% July -——-1.05% 1.06% 405% 1.06% Corn— Deo, ——— .738% .74 13% 15% May ——— .73% .14 “13% = .73% July ——— -14% .14% .18% 74% Oats— Deo. ——— 41% .43 AIM «42 May ~ 44% 44% Ad Mt July -—— -—-. —-— —— 48% Lard— : Jan. ——— 11.95 11.95 11.87 11.90 May ——— 11.82 11,87 11.82 11.97 Ribs— Jan, 9. 9.45 943 0.45 Mey .... —. — — 9.55 Cash Grains and Provisions CHICAGO, Nov. 14—Wheat num ber 3 red 1.04; number 2 hard 1.05% @1.06. Corn number 8 mixed 85% @.86; number 2 yellow . Oats number white .43% @.45; number 8 white .42@.42%. Rye number 1, .69@.70%. Barley .583@.67, Timothy seed 6.75 @8.00. Clover seed 15.00@ 23.75; Lard 14.00: ribs 9.25@10.25. ———————__ Foreign Exchange NEW YORK, Nov. 14.—Demand sterling fell off more than two cents in New York today, touching $4.85%4 which is near the year’s low figure of $4.85 1-16, established last week NEW YORK, Nov. 15.—¥Foretgn exchanges easy; quotations tn cents Great Britain demand 484%; cables 434%; 60 day bills on banks 432%. France demand 5.43%; cables 5.43%. Italy demand 4.31%; cabl 4.82. Belgian demand 4.63%; cables 4.64. Germany demand 0000000000025; cables .00009900028, Holland de- mand 87.51; cables 87.56, Norway 14.87; Sweden 26.22; Denmark 16.94; Switzerland 17.52; Spain 12.99; Greece 1.53; Poland .000075; Czecho lovakia 2.88%; Jugo Slavia 1.16; Austria 0014; Rumania .53; Argen- tine 81,50; Brazil 8.87; Montreal 98%, <a NEW YORK, Nov. 14—Copper firm; electrolytic spot and futures 13% @12%. Tin easier; spot and futures 43.87. Tron easy; number 1 northern 21.00@22.00; number 32 northern 20.00@21.00; number 2 southern 20.00@22.00, Lead steady; spot 6.85@7.00. Zino quiet; East St. Louis spot and nearby 6.45. Antimony spot 9.36. NEW YORK, Nov. money firm; high 6; low 4%; ruling rate 4%; closing bid 6; offered at 5%; last loan 6; call loans again: acceptances 4%; time loans firm; mixed collaterial, 60-90 days 5; 4-6 |months 5@5%; prime commercial | paper 5@6 14—Cal! Cotton W YORK, Nov, 14—Spot cot- ton steady; middling 24.25, eee ‘Washington, Oregon end Taéaho | produce nearly half of the commer cial apples of the United States, Livestock : Liberty 8%s Liberty First dis Liberty Second 44s Liberty Third 44s Liberty Fourth 44s U. 8. Government 4Ks Czechoslovak Rep. § Municipal § fon of French Repub; Japanese 4s Kingdom of Belgium §s Kingdom of Norway 6s .. Rep. of Chile 8s, 1946 State of Queensland és All Markets Il (Al ce ca ~ ‘i U. K of G, Band L., 5%4e '87 101% RAILWAY AND MISCELLANEOUS American Smelting 5s name Ol American Sugar 6s 101% American Tel and Tel cv. 65 116% American Tel and col., tr. 97% Anaconda Copper 7s, 193: 38% Anaconda Copper 68, 1953 6% At. T. and San Foe, gen 4s 87% Baltimore and Ohio'cv., 445 — 83% Bethlehem Steel con 6s, Series A 97% Canadain Pactfic deb., 48 ..—~. 80 Chicago Burlington and Quiney ref., 5s 98% Chicago, Mil and St. Paul ov, 44s ——______ 56% Ne Otaer 66 93% ioodyear Tire Ss, 1941 SARE BTID, Y? ¢ § Great Northern 79 A 106% Montana Pow: 95 Northern Pac! 92% Northwestern I TE nnn | 8G DRAG: BE B00.) 66 mn rnenennniomate 9 00% Sinclair Con Oil col 7; 93% Union Pacific Fi 4% U. 8. Rub 84% Southern 92% Utah Power and Light Se 88 88 83 Western Onion 6% -... = 108% 108% 108% Westinghouse Flectric 7s 107% 107% 107% Wilson Co., ¢ 86 86 $1,000 REWARD ISPOSTED FOR — SLAYER OF WOMAN HURLED OFF ROOF OF BUILDING IN ARIZONA PHOENTX, Artzona, Nov. 14.—Re- wards aggregating $1,000 were post ed today by Governor Hunt and Sheriff Jerry Sullivan of Maricopa county for the arrest and conviction of the slayer of Mra. George Bou- reau of Elkhart, Ind., whose alcull was crushed and the body thrown from the roof of @ school building varly yesterday, Of the rewards $500 was offered by the governor and $500 by the sheriff, Later in the day the city idded $200 to the reward. FORBES PAGoES LIE IN HEARING (Continued from Page One.) welfare work, saying she was there to visit a woman employed. He said he became “fairly inti mate’ with the Mortimers and found them “agreeable companions.” Coming then to the famous Pacific coast trip with them in the sum- mer of 1922, Forbes said tt was Mortimer who suggested that he and Mrs. Mortimer accompany the Forbes party to the west, as Mortt- mer never had been to that section. “I stated that there would be a lot of men in the party,” the wit- ness continued, “but that I aid not see any objection to their going if they desired.”" Forbes sald there had been no conversation with Mortimer about expenses of the trip, “Why did you stop at Chicago?” asked Mr, Easby-Smith. “To inspect the Speedway hosp!- tal and to visit patients in the Ma- rine hospital,” was the reply. The witness said he met J. W. Thompson at Chicago, but not by prearrangement. Before that he had seen him in Washington, Thompson having called on him in connection with a claim against the government growing out of a setz- ure of a ship. Forbes testified as to the arrange. Bellef that Mrs. Boudreau was et tacked by more than one person was held by the police today as a result of further investigation of the crtme. No arrests have been made. A hostile undercurrent of senth ment against the slayer or slayers was evident in the city today and authorities stated precautions would be taken to hold the slayers secure in event ‘a capture is made yesterday to conduct on inquiry tn- A coroner's jury was empanclied to the case but the time for the Inquest hag not yet been set. ment of the rooms of his official party at the Drake hotel where Mor- timer claims he loaned Forbes $3- 000 in the form of ten $500 bil's. Up to that time, Forbes said, Mor. timer had been talking about con tracts. “But I never gave him any encouragement,” he added. timer that Forbes had stated that Asked about the testimony of More while he was in an official capacity in Hawati, he had “fixed things 60 nobody lost money,” Forbes ex» claimed. ‘Again Mortimer tes.” “Try to restrain yourself,” warned Pasby-Smith, “I am restraining myself,” re turned Forbes, ————___ BIG AUCTION SALH ‘There will be a big auction sale a 234 South David, Saturday afters noon at 2 p. m. of household furnt- ture, rugs, bedding, codking utenstle dishes, glassware, etc. Harned Fur- niture Co, 234 8. David. Phone 249, ———.—____ The average weekly earnings of men employed in factories in New York state are about twice as high ag those of women workers, accord- ing to @ report of the state depart ment of labor, —_— Surveying and Locations } Goologiste, Oll texperts, Oil Field Mape, Blue Prints WYOMING MAP BLUE PRINT CO, P. O. 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