Casper Daily Tribune Newspaper, December 2, 1923, Page 11

e Casper Sunday crivune PAGE ELEVEN Oil : Finance OIL STOCKS SCORE * NEWYORK srov "KS—LAST, SALE Demand issues continued speculators for the added points to consistant ughout the week. public utility CHICAGO, Dec. nessed a sharp upturn December wheat pt 1.04, Decline in Powell Field Production and Heavy Ex- ports During Week Bring About Good for New York Issues NEW YORK, Dec. 1.—Improve- ment of oil shares in sympathy with a general advance in stock exchange in today's short session of the New York market, trading on which was marked by optimism that causec shots to run to cover. Prospect of larger earn- ings and pool operations brought about a cheerful tone to @e trading that was used to good adventage by advance and gains Diminishing output of the Powell field in central Texas and heavy exports for October were important factors tn the ad-| by January 1 wiped out gains in vance of olls. Rubbers, textiles and hares also moved tol 1.—Today's trading on the grain exchange wit- in wheat vatues while corn held to opening prices, the closing being strong with May at 1.09% and July 1.08, and December higher week Motors, out the rumors. price of Wheat Values Take Jump Late in Short Session Corn visions corn at .72%, May at .74% and July at .75%. The display of strength came at the close of a week featured by a tendency to reach lower levels, said to be due in part to traders backing away ftom actual deliveries in settlement of December contracts. total bushel. was p'aced to Germany. Oll and gas permits as fol‘ows: Buyers remained wary throughout the week on account of the increase in the visible supply of whea 75, 10,000 This factor by a considerable increase In the Canadian supply and iearish sentiment caused by oppo- sition to plans for financing exports the July Jan, Maq . RIBS— Jan, . May . Oil and Gas Prospecting Permits on State Lands on] PLC. state Jand since August 15 are shown | 24-75. W. A. Ream, Douglas; NW 17- Robert’ D. Hawley, Douglas; N¥% | 32-72. J. A. W. D. Luke, Casper; all of 17-32- 27-16-65. J. 0, B. Keoner, Rawlins; N% | {i> 26-18-65. - “NEM Herman Jaeckel, Denver; all of) 73 15-26-36. J, T, O'Brien, 46-61 C. W, Beckett, Casper; allot, 16- 42.79, H. P. Hynds, Cheyenne; all of 36- ; 16-77. E. J. Sullivan, Casper; all of 36- 21-79, i Black Mountain Denver; all of 36- Fetroleum Co., Salt Lake City; all of 36-43-91, corporation. on A depth of 2,741 feet has been made in the company’s well No. 2 on section 18-40-79 In Salt Creek. The bit is now in the second Wall Creek sand. On section 15-40-79, well No. 7 is fishing for 8%-inch Arne W*%NE of 16-37 H.N of 16. Delay in procuring a boiler ‘s holding up operations on the Belle Springs test of the Producers and section operations are shown as follow: Dome. ~ Mahoney No. 2, section 4-2 at 2,883 feet, No, 1, section 33-26-81 drilling cement for casing test, 2,360 feet. section 35-26-88; drilling No. 3, shale at 2,457 feet. Wertz.—No. 3, Pulling casing. Ferris Field—Shut down. Three completions are reported the past week by the Ohio O11 com: Two of these are in Balt pany. Cree! pletion is No, 11 State, sec. 34-20. n the Rock River field. The total depth was 3,280 feet with production about 75 barrels. ‘Well No. 2 Cash tract in the Lance Creek field on SW%+ sec. 4-8545 is shut down section 7-26- Enos sugar issues caused by advance in the week on a falling off in rural offerings and oats also improved. Today's range of grains and pro- AM 43% 42% 44% 45% 44% + wnwe 43% 43% 43% LARD— SW4%SE% 24-30-80; lot 2 3. Custer Hiway Oil Co., Sheridan; all of 39-45-63, Samuel Lewison, Minneapolis; all of 16-26-93. He'mer M. Ferce, Minneapolis; all of 16-36-94, 79; fishing for bit at 3,480 feet. ‘Thornton. ground. Closing sales were strong with the day's trading esti- mated at 500,000 shares. Featuring the trading during the were the violent fluctuations of Davison Chemical and Maxwell which exerted an unsettled movement on the entire list through- week, Both issues have been associated with numerous Favorable earnings statements brought the railroad stocks into Uvely demand and gave them a prominent movement. Predictions of lower sugar prices place in the upward the refined product. developed strength during prices follow: High Low 2% 1.04% 1.02 110 1.08% 1.08% 1.06% == 72% 78% 72% 73% 74% 73% 745% 75% 74% 11,77 11.85 eee ATT 11.77 11.70 177 Spencer, Cheyenne; all of 16- Warren, Denver; SEXSW 80; SE 10-29-80. A. Stemarud, Minneapolis, 4 36-37-94. 4. Chadbourn, Minneapolis; all 93 Belle Springs Test Held iz. Up by Lack of Boiler Creek.—No. 1, section 19-40- No. 1, section 8-48-65; 2,435 feet, underreaming for 4%-inch casing at 2,410 feet. drilling feet. R.| Clay 82-2-24e; 9 9 out 16-21. Garland.—No. 1, Baxter Basin.—No. 36-18-104; 2,800 feet. section 30-56-97, in white limestoneyat 2,450 1, section sidetracking casing at Basin.—No. 1 Utah, section ; rigging up. Draw.—No. 3, section 9-82- hut down. No. 3, section’ 15-32- ; running 6%-inch casing. Sherard . Dome.—No. 14-25-89; 6%-Inch casing at 2,935 feet. 1, section preparing to underream Ridge.—No. 1, section shut down at 605 feet. No. 1, section 20-21-80; fishing for bit at 3.475 feet. Ohio Drills in Three New Wells During Last Week for for bit, down 1, Baxter Basin No. 1 sec. 22-16-104; No. 68 Milliron. sec. 29-46-98; shut!s. ©: Neb. down for winter at 2,230 ft. No. 39 State, sec. 19-46 fishing: depth 2,655 ft. No. 19 Wiley, sec. 19-46-98; shut 8. 954 ft. fishing for bailer at 2,505 ft. No. 1 still holding up at around 2,000 bar- rels. Report of other Ohio Oil opera- tions follows: Rock River at 2,505 ft. No. 2 Diamond, sec. 27-20- tt. No. 2 Harrison-Cooper, W% sec. wabbing at 3,272 ft. Grass Creek No. 4 Washaki, No. 8 sec." 18-46-98; shut down for winter at 250 ft. 11-19-71 FE ROSE AOS No 10 State, sec. 34-20-78; drilling pass No.1 down a down a the winter. Bec. 14-17-104; Lance Creek Thompscen, sec. 5-35-65; shut t 3,682 ft. No. 1 Schuricht, sec. 5-35-65; shut | it 3,370 ft. Hidden Dome—No. 1 sec. 31-48-90; shut down at 2,345 ft. 36-26-81 fishing st RE FT Utah—No. 1 Coalville, Oregon Basin—No, 1 sec. 8-51-100; shut down at. 1,715 ft. O'Brien ‘No. 2 sec. 2-24- 86; drilling at 4,310 ft. ney Dome—No. 3 State, sec. ; drilling at 3,170 ft. sec. 6-2-6; at 1.770. tt. - hut down for | Bonds : Stocks : Grain Allied Chemical & Dye American Can American American American Atl, Guit Raldwin Locomotive Baltimore and Ohio Bethlehem Steel pets California Petroleum ----.._, Canadian Pacific Central Leather Cuba Cane Sugar, pfd .. Famous Players Lasky --..- enera! Asphalt General Electric General Motors - Great Northern pfd Gulf States Stect Inspiration Copper International Harvester Int. Mer. Marine pfa ~. Internationa! Invinelbie Olf Kelly Springf.eld Tire Kennecott Copper Limo Locomotive Mack Truck Middle States Oil New York Central -. Northern Pacific Pacific Oi! -. Pan American Producers and Refiners -. Pure Oil Reading -.--. Republic Iron and Sears Roebuck Sinclair Con Oil Southern Pacific Southern Railway Standard Oil of N. J. Studebaker Corporation by CO... caer Tobaceo Procucts A Transqontinental Ojl U. 8. Ind. Alcohol - United States Rubber United States Steet Utah Copper ---------- Westinghoure Evectric Willys Overland -. Butte and Superior -—__. Colorado Fuel and Iron -. National Lead - Big Indian Bessemer Buck Creek Burke Tilackstone Salt Creek Chappell Columbine --.--- Central Pipe --.. Consolidated Royalty - Cow Gulcn Domino Elkhorn -...---- E. T. Williams Fargo - Gates Jupiter Kinney Coastal -. 16 Dv: 7 5 t a a 5 = refinery at Evansville will send its| adjustments of distribution alony | Lance Creek Royalty 01% output to the Pacific coast region| such geographical lines as men Mountain & Gut 2 74% 98, | and throughout the northwest. At| tioned a noticeable reduction can | pp eine Ni onds 15120 | the same time the east will be sup-| be effected in transportation “aud Royalty & Producers - .051% Bunset - -----. 02 ‘Tom Bel! Royalty 02 Western, Pxploration, 3.30 Western States -16 NEW YORK CURB CLOSING Mountain Producers 14.37 Glenrock Oi] .-... 60 Salt Creek Prds. -. 1 Salt Creek Cans. Mutual .. 6. “ 10.87 Citles Service 0. Ky is. S. O. Ohio -- Union Tank Oo. N, Y. Crude Market |Cat Creek - Lance Creek Osage Grass Creek \Tochight - ; Elk Basin -. Greybull Rock Creek -..--~. Salt Creek Big Muddy Mule Creek Sunburst Hamil! 9.50 - 138.00 140.00 ----—--—$ 95} the Mammoth Ol] company, 1s to NEWS AND QUOTATIONS BY LEASED WIE New York Stocks || BABSON DISCUSSES THE AUTO BUSINESS Position of Industry and Its Securities Are Outlined By Statistical Expert in Interview on Prospects . WELLESLEY HILUS, Mass. Dec. 1—The outstanding features of the automobile «situation are Heavy but declining production, de- clining demand, fairly stable prices with downward adjustments here and there, keen competition, and generally good financial condition of the more important companies, ac- cording to a survey made by Roger W. Babson, the statistician, which is summed up in a statement issued today. “The production of cars and trucks for the first ten months of this year averaged 307,635 cars and 32,029 trucks per month,” says Mr Babson, “this total output is about 60 per cent better than the output in the corresponding period of 1922. Notwithstanding this heavy rate of production stocks of new cars have apparently not accumulated to a burdensome degree. Sales during the first three-quarters of the year kept pace with production. “Demand last spring and summer exceeded dealers’ expectations and many found themselves without cars large enough to meet the needs of their customers. With this in mind dealers are now inclined to plan on liberal stocks for next year. Manufaeturers apparently are also inclined to look for another heavy increase in sales and are planning on a much larger output. “The industry has been favored not only by an unusually strong de- | mand but also by the fact that auto- mobiles are cheaper, relative to pro- war ideas of value, than most other | commodities. By reason of the| large number of concerns compet-| ing for business, and also by reason | of the necessity of lower prices in order to appeal to successively levels of purchasing power, the trend in price has been down- ward and there is nothing in sight | that Indicates a change in this} trend. “How long the industry will con- tinue its remarkable growth is dif- ficult to say. The changing ratio) in the rate of registration increase, and the increased cost of selling, seem to indicate resistance In eéx- panding the market. It is probable that the more alert manufacturers are continuing to plan on more cheaply made cars in the future in order that they may put prices lower and appeal to larger numbers of people. So long as this tendency proves profitable it is difficult to; in the future.” Texas Refinery Products say when the industry on a replacement basis. traffic congestion prevailing comfortable to walk or to trolleys, subways or trains. “The chief danger in However, can manipulate expenditure. consumers expenditure at present levels ustry will continue to expand. ning 7 per cent below normal. “There is nothing in thi son. tain a level around 67. listed and represent body, however, amining the movements of position to the trend. appears that automobile cline in 1920. It is probably reaso) In order to eliminate cross-hauling of its refined products the Texas company has planned a geographical basis for its system of distribution. This means that in the future the shipped to to the western coast states. plied by the Midcontinent plants. marketing. Market Gossip and Briefs 05 06% 03 U To Figure ‘on Funds A meeting of the stockholders in the Hatfield Oil company ts sched: uled to be held in Rawlins tomor- row. The big question will arise as to the best means to adopt in PETROLEUM CLUB TO ENJOY GOOD PROGRAM ON TUESDAY EVENING ‘With nearly 150 members already signed up, the newly formed Wyo- ming Petroleum club will undoubt- edly find its second meeting at the court house next Tuesday evening at 8 o'clock, exceptionally well at- tended. A keen interest is being shown in the various phases of oil |industry problems at this time and {the rapidity with which the club {has grown indicates the spirit of 4| co-operation among oil men which! has been, until now, lacking such an opportunity for expression. An excellent program is on the |boards for the Tuesday evening | gathering. James M. Douglas, Union 7% | Oil company geologist, will deliver a | paper on “A Geologist’s Relation To | the Oll Industry.” Perhaps he will |make some mention of the pros- | pects for his compeny’s big gasser |near Wellington, Colo,, as he has | just returned from there. 0. E. | Dougherty, general manager here of 14.50 He structure south of Rawlins. 7.50 11.00 attempt to test the structure. used, it is sald, by at its refinery at Parco not another location and again. Camp has tion. Van Guard Near Sand Muddy sand. its two holes. portance is If nothing encountered to the Cloverly sand 500 deeper, or about 1,780 feet. Lusk Test Held Up 180 92 41 erly put its boilers test of the electricit: ly. ——.—__ _ “OTHERS” 0 | address the meeting on “Production +80 | Problems.”” 95 It is to be remembered that the 5 | Wyoming Petroleum club is open to! $5) all.men engaged directly or in-! -95 | directly in the activitie® of the oi} 0 business. Because of this member- 60 ship provision a wide education in 45 | what o tutes the proper conduct. -40 of the numerous branches of the in- -70 dustry, {s afforded all who belong | 52% and attend. Surveying and Locations Geologists, Oll tixperts, Oil Field Maps, Blue Prints WYOMING MAP AND BLUE PRINT CO. will reach the point where it will be primarily “Another important factor is the in many large cities which is- begin: ning to prove a distinct hindrance to the sale of cars to residents. In some large places it is much more tse It is feared that this condition may grow to such an extent as to seriously curtail demand and the industry is Seeking to have cities plan future street construction so as to give automobile traffic first consideration the auto mobile situation is the tendency of buyers to exceed tho safe limit of so long as their budget so as to include automobile the Present demand for automobiles is exceedingly good when you con- sider that general business as ro- flected on the Babsonchart is run tion cf motor stocks which suggests a dif ferent market movement from the list as a whole,” continued Mr. Bab- “An average of 13 representa- tive issues, both car and truck, sold at a high, in the spring, of 48, de- clined to a low last summer of 31 and have rallied to around 37; seven motor accessory issues from a high of 76 declined to 48 and now main- All issues used are New York Stock Exchange wheel, carburetor and similar plants. Tires, are not considered. Ex indi vidual issues in these groups one to find any evidence of a movement in specific issues in op- The appar: ently greater intensity of competi- tion in the popular priced car fiel! than in other departments of ac- tivity In the motor business might seem to suggest varying trends in the different issues. All, however, have recovered from 25 to 40 per cent or 50 per cent of their decline. “Looking back a little further it stocks have very closely followed the tren. of the general market since the de- able to assume that they will do so Here Go to the Northwest) In the past the refinery here has the eastern markets while from the Midcontinents oils have gone to the northwest and out There is no doubt but that by making re On Operations in Oil Fields raising money enough to put down a second hole on the Eight-Mile Lake| Not long ago Hatfield brought tn @ 25,000,000-foot gasser in his first This Was capped in and the flow will be the Producers| away. Hatfield now wishes to make try for oll already been moved and a rig is under construc- It is reported from Basin that the Van Guard Oil company test near the Lamb dome is on top of the It was in Lamb dome that the company got considerab!e flows of gas in this sand in each of| of im- in the! present tryout of the Muddy then| the drilling will be carried on down feet Because of alleged failure on the Livestock : All Markets TOWER’ TALK|| BILLY CREEK TEST Ids oil when bites hole at Skull Creek well.” This headline featured a story from Newcastle last wee! which went on to say: weastle was electrified—.”" Today one of the Newcastle Papers has this to tell: “Candidly we do not expect anything of this well from here on in, but there may be a possible chance still and after so much money has been put into the ground at this location, it would seem extremely foolish to wena. even an extremely long shot.” And just as candidly, none of those who hold gilded units in the Skull Creek syndicate expect any- thing more to happen that will give them a return on their paper. IS HEADED FOR OIL Muddy, Dakota and Lakota Sands Remain to Be Drilled in No. 4 Weli on Mammoth Gas Structure in Northern Wyoming Drilling to the Muddy, Dakota and horizons that the first well was Lakota sands wi'l be continued inj started In the field. Three wells the No. 4 well of the Consolidated|came in as mammoth gassers, how- Royalty. Western Exploration and|ever, from the second Wall creek Carter Oil companies on the. Billy|sand and are each rated at 60,000- Creek dome, southern Johnson coun-|000 cubic feet daily while in the ty, Wyoming, which already has|fourth well the big gas sand was been proven as northern Wyom-/|plerced with rotary equipment in ing’s premier gas fie\d. Significance | order to carry the hole to the lower of the water discovery at about 3,600| levels and carry out the original feet is discounted by the fact that| purpose of the test. it was found in a stray sand and was! The No. 4 well is located approx- not unexpected, the Muddy, Dokota|imate'y 260 feet lower down on the and Lakota sands being expected at| structure thar, the first three gas 3,700 to 4,200 feet. These sands pro-|sers and mudded off the gas sand duce Hght oll in other structures at about 3,400 feet instead of at 3,100 where gas and ol! have been eM-/ fect, as in the pioneer wells. countered in Wyoming and it was) Compan: logists and officials for the purpose of testing out these| are optimistic that the Muddy, Doko- {ta and Lakota sands may prove oll jail interior he had no idea where | or gas bearing and completion of the he was.” |test will be watched with interest |by the oll fraternity, The hol in excellent condition and no seri- ous difficulty is expected in casing off water recently encountered. There are many men who, like some wells, must be shot before they amount to anything. A certain driller regularly em- ployed at the Elk Basin ficld went out on a moonshine “wildcat” a few days ago and the following is what the Northern Wyoming Herald of Cody has to say about the episode: Johnson of Elk Basin won the reputation of being the crazicst man that was ever confined in the county jail. Monday he left for home perfectly normal and ready to return to his work as an oll driller. Moonshine whiskey obtained tn Billings and Bridger he gives as the cause and although doubting his ability to let it alone he is con- vinced that the advice of the county doctor that another drunk will send him over the other side of the veil is well founded. He remembers going to Billings and getting some whiskey and buying another supply at Bridger. How he got from Billings to Bridger he cannot recall and his trip from Bridger to Elk Basin is also a blank. When he came too after almost wrecking the When Isaac Walton wrote his f{a- mous book, “The Complete Angler, he didn’t have the faintest idea tha: he was leaving out mention of tha’ branch of the sport which never’ sees a closed season. Ask the dril!- ers and toolies who angle for days and months. When they get out their wall hooks, devil's pitchfork: helrazers, slip sockets and combina: ! tion sockets, and start to jar up and then jar down, they can only pray that ‘some day some wise Philosopher in the of] game will write for them especially a book called “The Complete Angler,” so that they can enjoy fishing in a hole that may be a mile deep. PEARL WHITE LAUNDRY AT YOUR SERVICE Phone 1702 Would You Accept A Cash Gift? That Is Just What We Our Offering You During Our Hoover Vacuum Cleaner Campaign NOW IN PROGRESS Special terms and low down payment make this a most advantageous time to buy a Hoover Sweeper for a Christmas Gift. Remember the Hoover is the Vacuum Sweeper sold by a local company and backed by a Service Department designed to render you the service promiséd to you when you buy. part of the manufacturers to prop- together, the/ gasoline and | carbon producing plant that was to) have been installed and tried out, | before wondering onlookers at Lance| Creek, has fallen down for the time) being. The Consolidated Producers. will make another test short- PHONE US FOR A DEMONSTRATION NATRONA POWER CO. PHONE 69