Casper Daily Tribune Newspaper, November 18, 1923, Page 24

PAGE EIGHT le) =: Finance Bonds : Stocks :: Grain : be Casper Sunday Cridune NEWS AND QUOTATIONS BY LEASED WIRE TEXTILES SLOW UP CAUSES EXPLAINED (By Wilson Cranmer & Company) wore 64% Allied Chemical & Dye 1 American Can wccene 897% presen Wntecnationels Cac as Roger W. Babson, Statistical Expert, Analyzes] american Eacomotive ae Sessi e : Industry and Its Securities From ‘American Sugar = +t, Points in aMny Industrials; Collapse in Ex- American T. and T. ~~. 123% American Tobacco ------.. 146 Standpoint of Decline 70% WELLESLEY HILLS, Mass., Nov. tempt last summer to name higher 36% | “EW YORK, Nov. 17.—Declines 17—The recent drop in certain tex- prices on men's spring wear lines. | Atl, Gulf and W. Indies 144 |of one to three points tn leading tile securities has led many inves-|Considerab’e sales resistance and) Baldwin Locomotive 125% | issues were recorded in today’s brief tors to believe that unseen factors|but few orders are reported. An-|paltimore and Ohio _ 37 ry.| other reason is that makers of men’s| Bethlehem Steel __. season with|Callfornia Petroleum — were at work within the ind Roger W. Babson’s analysis summar-| clothing entered this ized in a statement issued today fairly heavy stocks carried over|Canadian Pacific —— ve -|Central Leather .. ty well accounts for the develop-/ from a year ago. There is conse-|C 5 pains | quently less reason for purchases} Cerro ce ne! Coppe! st y Adition to these tors ——. “Conditions in both the cotton ' than last year. In addition to these} (yn ie and Ohio goods and worsted and woolen goods facts, general business as reflected | Crile Copper Sndustries are irregular and un-|in the Babsonchart aaa! about 19] Ghino Copper settled.” says the statistician. “The Per cent Ow notmal. Consolidated Gas fundamental reason for this is large- 214% | which marked the close of a week’s trading featured by a turn of specu- lative interest to the railroad shares and recessions in some industrials from recent high levels. The col- lapse of demand sterling and con- tinental exchanges was also an out- standing development of the week, but unfavorable foreign develop- Yomen’s wear, especially novelty|Corn Pruducts ly the fact that prices of these goods lines are, however, apparently/Cosden Oil -— ments were largely ignored in favor xi, * latively chuch” higher than Meeting with more success than|Crucible Steel — of domestic turns. Sanat citer kinds of articles. When)men’s lines. Mils making such|Cuba Can Sugar, pfd. -. Today's offerings of stocks were not unusually large but the setback goods seem to be operating on better|Famous Players Lask, business men in any line feel that was brought about by the with- the price structure is beginning to schedules than those making men’s |General Asphalt get top-heavy, there is likely to be considerab!e caution exercised re garding the purchase of raw mater- fals, the manufacture of these high- priced materials into furnished goods and the buying of goods for retail distribution. This is the case now in both cotton and woolen and wor- sted goods, especially men’s wear Unes. Curtailment of production is in progress. “THe cotton goods industry began the fall with a fairly good supply of orders taken during the late summer. Production was good during Septem- wear. Babson continued, “the listed textile stocks are few in number. Amert- can Woolen, General General “Turning to the securities repre-| Great enting the textile industries,” Mr.|Gulf States Steol lon Copper Insp International Consolidated Textile,| Int. Mer. Marine pfd -. and the two ailk issues, Wallinson|Jvincible Oil and Kayser, come first to mind in this connection. By far the ma- jority of the New England mill is- sues enjoy only a local or over-the counter market. The trend seems to have been the same for all kinds, however. Ever since the general market started its downward course last March these have offered little Kelly Springfield Tire Kennecott Lima Locomotive Mack Truck Marland Oil - Maxwell Mot Middle States New York Central Yorthern Pact: Pacific Ol Electric Motors -. Northern pfa .. Copper Harvest on fic drawal of overnight bids and a dis- position on the part of buyers to await favorable news. Among the lleaders that fell off in price were Baldwin, Maxwell Motors A, and CHICAGO, Nov. 17.— Moving ber, especially among Southern Pan American ePtroeum B 57% [largely in sympathy with the decline mil's. During October, however, a'resistance to the trend and are to-/ pb oaucers and Refine 17%] in foreign exchange rates, wheat tendency to increase the price of day holding only about mmlaway be- Pure Oll 16% | prices were given a setback during cotton goods in line with the advanc- tween the lows of 1921 and the Reading 76% | the week while provision price move- ing price of raw cotton brought highs of 1922. In one or two specific Republic Iron and Steel -. 45% | ments were mixed, ranging from « about renewed resistance on the part! instances, notably American Woolen, |Sears Roebuck 85 | 30-cent advance to an extreme de- of buyers. Asa result, many mills 1921 lows have been practically| Sinclair Con Oil 18% | cline of 18 cents, December wheat in both the North and South are go-| rea'ized. Southern Pacific 2 Beewiete Serra icy, dng on part time “The shrinking margin of profit be ma ane S 35% July at $1.05 while oamiee: “Whether or not the recent Gov-, 8nd gradual decline tn capacity ope-| Siinanrd Ol of N. ye 324 Decei ernment report, wherein this year’s|Tations of which the Arioskeag ae ee cotton crop is estimated about 10,-/ Closing ts the most striking case,|-robacco Products A > 250,000 bales as compared with an|™ay be held accountable for the de-|-Transcontinental Oil I OWER I AL average of 9,300,000 during the pre-| Cline in stock prices. Many other/ Un‘on Pacific Sous three years, and of 12,300,000) lines of business have been subject]. S. Inc’. Alcohol during the three years previous| to the same influences. United States “Rubber H. E. Dailey, head of the land thereto, will result in freer buying| “As for the future, there {s no as-| United States Stee! and leasing department of the Mid- of cotton goods, time alone will|#urance of any broad advaneing| (tah, Copper west, left for Cheyenne yesterday af. show. There is much evidence pre Loasinaed = is afi aut fice Sn llys Overland —_ ternoon. He was called to serve on sented to show that both the Ameri-|*tocks are rounding out the balance] fF utte and Superior the federal petit jury. A report can and the world's supp!y of cot- ton is very low compared to the need for cotton goods. Buyers, how ever, argue that conditions are no worse than a year ago, that con-) sumption is declining, and that 30 per cent cotton fully discounts all the bearish factors. Nevertheless,| The chances involved in trying to|Cat Creek -.. --$ .95| per yesterday evening. He left for | sellers of cotton insist that there | Work against the trend are too|/Lance Creek - .80| Thermopolis this morning where he | can be no question of a shortage| Seat. Textiles will probably be a|Osage ---. - will enjoy the hot springs waters and that demand far exceeds supply Profitable purchase when cotton and|Grass Creek a for a day or so. and that the only reasonable de-| ther commodities stabilize at levels |'Torchtight Z velopment !s for cotton prices to ad.| Which give some assurance of being| Elk Basin —— = r, Midwest geolog vance. | ediea tee An tare seer ot t0-] Greybull 7) left for Skull Creek today to witness * creased competit! abroa: as cl _ ot “The present situation favors low-| heen either fully resized oe even peta i Guesk = the drilling in of the company’s test cost concerns, These are mostly! nated. But that time is not the|Big Muddy 4d located in the south. Statistics show) present. Mule Creek miners we ny ateasths ciatndiae (ke nua! that southern mills usually work|" «when the time does come to buy|Sunburet . D. Weathers, p n much more steadily than northern mills. “The wool situation is not quite #0 tense as cotton.There is no acute shortage of wool, and the price tend- ency has been recently downward. sroups|and R : The chief difficulty at present seems| should all be included in order to peeping ia renee Salt Creek is also being cleaned. to have arisen by reason of an at-|have a truly representative list.” | tne Muddy sand with 1,500 fect of | ; Sait nities anticline well No. 3 : s partly rigged up. of the decline begun last spring. To be sure, this may not mean ma terially lower levels in the stock | market, but until the decline has spent its force and a broad advance is in prospect, there is no argument for purchase of any specific groups. there should be included in one's broad list a fair sprinkling of those | properties which have diversified |their business thru locaaing in both | the north and south. Further, the woolen, sitk, and cotton Rex Lake Well of the Ohio Bails 575 Barrels a Day Completion of a new well in the Lance Creek field at 3,400 feet for flush production of about 3,000 bar- rels a day was the outstanding de- velopment of the week in Ohio Oil company operations in the Wyom- ing fields. ‘The new well is on the SW of section 4-35-65 and offsets N. 4 Lamb on section 5. The Ohio has shut down its. test of the Rex Lake region west of Laramie after having penetrated the third sand 68 feet at a total depth of 3,936 feet. The well bailed 575 barrels in a 24-hour test. This field probably will come in for extensive development next year. Efforts to case off a 50,000,000-foot flow of gas in its deep test of the Byron field are under way by the company while its other operations show the foliowing status: Salt Creek No. 12 SW sec. 1-39-79; drilling at 2,020 £1 No. 7 NW%& sec. 12-39-79; cleaning out after shot at No. 3 SW% sec, 1 7 out after a shot at 2,340 ft. Rock River No. 10 State, sec. 34-20-78, cement- ed at 2,320 ft. No. 11 State, sec. 34-20-78; drilling at 3,180 ft. No. 2 Diamond, sec. 27-20-78; dril- ling at 2,590 ft. No. Harrison-Cooper, E'4, sec. 3-19-78; drilling at 2,447 ft. No. 2 Harrison-Cooper, W% sec. 11-19-78; drilting at 3,138 ft. Grass Creek No. 4 Washakie, No. 8, sec. 18-46- 98; shut down at 250 ft. No. 68 Milliron, sec. 29-46-98; shut down at 2,230 ft. No. 39 State, sec. 19-46- at 2,002 ft. No. 19, Wiley, sec. 19-46-98; fish- Ing for casing at 1,954 ft. Baxter Basin No.1 sec. 22-16-104; running 8%- inch casing at 2,510 ft. No. 1 sec. 14- 04; shut down at 20 ft. Lance Creek No, 1 Thompson, sec. 6-35-65; shut down at 3,432 ft. No. 1 Schuricht, sec, 5-35-65; shut down at 3,370 ft. Hidden Dome—No. 1 sec. 90; shut down at 2,345 ft. Oregon Basin—No. 1 sec. 8-51-100; shut down at 1,715 ft O'Brien Springs—No. 2 sec. 2-24- 86; drilling at 4,240 ft. Mahoney Dome—No. 3 State, sec. 36-26-88; drilling at 2,700 ft. Utah—No. 1 Coalville, sec, 6-2-6; fishing at 1,770 ft, drilling 31-48- Petroleum Cl Crude Market Hamiiton Dome —————@——_ Belle Springs in Muddy. A report received from Rawlins yesterday stated that the Producers | peing cleaned out. oil still standing in the hole. $< Western States D.vidend. Western Sti has declared November 30, ‘ovember 15. ates Oil corporation its regular monthly 1 per cent cash dividend, payable to stock of record -70| Fargo Oil company, was in Chey- -52% | enne last week. that the court there would continue its sitting for the next several months was heard here Saturday. H. T. Morian, superintendent of the Salt Creek leases of the Utah Oll Refining company, was in Cas- ‘Texas Company Operations. Well No. 26 in the Muddy field ts Dugan No. 3 at Good No. 2 in the Lost Soldier | fleld is running 8%-inch casing. Sweetwater No. 1 is after a lost string of tools and is pulling 5 3-16 inch casing in order to ream down to it. Wertz No. 1 is drilling at 1,969 feet, with casing again okeh. NOTICE Beginning November Twentieth, the undersigned Lumber Compa- nies will close at Five o’Clock. Shorter days are here and we wish to ask the Industrials, Builders, Contractors and Truck Men to kindly co-operate with us by shopping early, NICOLAYSEN LUMBER CO., KEITH LUMBER CO., O. L. WALKER LUMBER CO., NATRONA LUMBER CO., WESTERN LUMBER CO. ub to Hear . . No, 382--.. eee nee eee eneceenee ean Portes: Former Governor Brooks yee Se ede Rag YEE TOES Ta NRE TR GR EAA, ie Between two and three hundred oll men are expected to crowd the Tuesday evening meeting of the Wyoming Petroleum club at the court house, when ex-Governor B. B. Brooks, president of the Consoli- dated Royalty company, will address the gathering on the general bene- fits, purposes and future of the organization. ‘ Following the talk by Mr. Brooks there will be a paper on the build- ing of refineries read by Calvin Smith, superintendent of the White Eagle Refining company. The primary purpose of the meet- ing is to definitely complete the club other matters bearing upon the fu-| ture plans of the oil men's associa- tion will be passed upon. It is in- tended at the time to arrange the list of charter members and all ) those attending Tuesday evening will probably be in this group. | There is no doubt but that the Wyoming Petroleum club will serve | to bring co-ordination among those | working in the various branches of | the oil industry. The fact that no | particular regard will be given to| the connection an individual with | the petroleum business, should} make it possible for every member | to derive much good from the re-| and establish it on a permanent besis. Officers will be elected ana! cited experiences of others engaged in other fields. | Eastbound Westbound Chicago, Burlington & Quincy TRAIN S Chicago C. HEDULES & Northwestara Here Is the New Schedule of the SALT CREEK TRANSPORTATION CO. “Passenger Busses” EFFECTIVE IMMEDIATELY LEAVE CASPER (Arkeon) 8 a. m., 2-30 p. m. week days. LEAVE SALT CREEK 8 a. m., 2 p. m. week days. Sundays 9 a. m. Sunday 2 p. m. change One Feature of Week Davison Chemical, while losses were | Chappell up against Marine Columbine -_--.. preferred, General Etectric, Stewart 5 » Warner, Mack Truck, Northern Pa- fay [Session of the New York exchange, cific and Lime Locomotive. Sales for the day amounted to about 400,000 shares and the closing was) unsettled and heavy. Sharp reductions in unfilled orders of the "Inited States Steel corpora- tion had a tendency during the | week to weaken support but activity in the pig fron market offset this in also chalked part. ment in the face of crude oil reduc- tions. companies led New Youswan | STOCK ISSUES LOSE GROUND IN TRADING fo = 73" |Short Session Witnesses Declines of One to els Indian ---—------- -10 Oils showed some strength in the copper shares. Statements of Secretary Wallace| Red Bank wnnn= 2.00 3.00 | showing a great increase in the (aera § and Producers .05 fd | value of farm crops lent strength!Sunset ——____ 204 | to mail order and farm implement /Tom Bell Royalty ~ 204 wk ony & aten States 18 Wheat Down in Sym With Slash in Exchange %".o corn closed at 73c and May at 72c./8 O Indiana Liquidations by holders of wheat |Cities Service Com. was encouraged with every slump In foreign exchange. Wheat tariff discussion failed to exert expected influence in maintaining prices in the face of heavy selling, rallies being of brief duration. | Corn shared in the decline on Predictions that receipts of corn would increase and that tie demand for feeding purposes would be cur- piotiry Buckeye Today's range of grain and pro-|Gymberland visions prices follow Calena a Illinois Open High Low Close Indiana ~ WHEAT— Nat. Tran. Dec. ~--- 1.01% 1.02% 1.01% 1.01% N.Y. Tran Painless Extraction May ---- 1.07% 1.07% 1.07% 1.07 |Nor. Pipe — -10 Central Pipe Line 2.05 Consolidsted Royalty. 1.17 Cow Gulch |Lance Creek Royalty. .02 improve- Marnie —- -.. --3.00 Mihe Henry .. Mountain & Gulf -... 1.14 Quarterly statements of many | New York Ol] -..... to a display of Picardy - SUNDAY, NOVEMBER 18, 1923 ics al Livestock :: All Markets Oil Securities “A great deal has been said about the weather but nothing much has ever heen done about it.” Winter is on the road, but the only thing we know to do about it is to get real busy and order several tons of that Hudson Lump Coal It’s better to be warm than sorry, and right now the getting is good. Call us up. OUR NUMBER IS 913 CASPER SUPPLY C0. We are for the Casper Community Chest LOCAL OIL STOCKS Gid Asked a: |} re |) 0% 3.90 9.00 ton .. Wyo. Kana NS ay NEW YORK cU pathy, |Salt Creek Cons -— Mutual you at a live and let live price. 132.00 133.00 COMPARE THESE PRICES: Finest possible plate in rubber and Guaranteed —.____ $20.00 22K Gold Crowns....$7.50 Bridgework, per tooth (5. Porcelain Crowns. Standard Oil Stocks | Anglo Continental Oil ~ 1.05% 1.05% 1.05% 1.05% Ohio O11 Examination Free Prairie Oi - 3% 73% 73 78 |Prainis ive eat 72% .72% .72 .72 |Solar Ref. - 402 O-S. Building ; 73% .72% .72% | Sou. Pipe — 8. 0. Telephone 564-J 41% 41% 41%'8. O. 43% 43% 43% 8. 0. 43% 43 43% 8. O. Ss. 0. ----12.05 10.25 12.00 12.00 |s. 0. DR. FRANK CARLL Casper’s Most Reasonable High-class DENTIST RELIABLE, CONSCIENTIOUS DENTISTRY given to ----11.87 11.87 11.82 our Credit Standing Credit is the barometer by which Society judges every man, You can establish your own. The money that counts is the money you don’t spend. Own some of the money you earn. Our Savings Department will help you to begin with a small amount. If you haven’t a Savings Account start one NOW and determine to add to it REGULARLY. If nai accounts may be opened and deposits made by mail. BANK RESOURCES OVER $5,000,000.00 Your Social Obligations Include Support of the Community Chest THE WYOMING NATIONAL