Casper Daily Tribune Newspaper, December 4, 1923, Page 9

TUESDAY, DECEMBER 4, 1923 Oil : Finance OIL PROSPECTING IN] UTAH FIELDS LARGE Interesting Depths in Several Wells Under Way in Mormon State; Late Developments in Test Holes Are Reviewed Considerable of! field exploration , Mexican Hat company’s producing work jis: being carried on at this time fn the state of Utah. Numer-/| basis for deciding whether or not ous tests are under way that should be completed before long. For a number of years past there has been more or less wildcat activity in the Mormon commonwealth, with small results. With the falling off of production in Midcontinent and California fields, it is probable the attention of producers will be con- centrated on the Rocky Mountain states next year, and Utah is al- ready undergoing a thorough probing. Following are accounts of some of the recent developments in that state: Crescent Eagle Casing. Since the wild demonstration of the giant power of the gas flow, which cotaes from the depths of the Crescent Eagle hole in Grand county, Utah, there have been no more attempts made to swab the the top of the casing and will be maintained at a point where drilling operations may be rendered safe. During the past week the new string of 4%4-Inch casing reached the site of the drilling operations and preparations are being made 10 send it down the hole immediately. ‘When this new string has been set the bit will again be sent down to cut up the oll sand cap it was in at the time drilling was halted. Local advices from the well are in effect that the gas pressure still remains unchanged. Only by keen- ing the hole filled with water can the safety and security of the well be maintained. It is anticipated that when drilling again starts it will not be necessary to halt until the first sand, a forty-foot strata, has been penetrated to depth. It is also anticipated that this sand will show sufficient oil to place the well in the commercial producing class. Showing at Cisco. Arizona-Utah Gas & Oil company is reported to have a showing of oll in its No. 2 well 800 feet north of Cisco station at a depth of 450 feet. This well was started 50 feet from No. 1, which is down 1,000 feet, for the purpose of securing a supply cf gas for fuel purposes while wait- ing for casing. Showing is at ap- proximately same depth some gas was found in No. 1. San Juan Deep Test. Recent advices from Monticello, San suan county, Utah, convey the information that two standard rigs are being moved into the ofl dis- trict by the Utah Southern Oil company to make a deep well test on the Mexican Hat structure. The tests will be made near the |such @ nature that it can be used | most “perfect known to exist at the well and the outcome will be the a pipeline will be constructed into the field, it is said. At present, oi! of a high grade character is produced in the upper sands of this field, which has at- tracted many of the largest of! operating companies into the San Juan district a great area, includ- ing that section of the country where Utah, Colorado, Arizona and New Mexico join. The Midwest has already developed producing wells in New Mexico and is pushing ahead into southeastern Utah with tests on various structures. Cran- mer-Wilson test is now reported down about 2,500 feet on one struc- ture there, but the present tests are the first to be made of that section of the San Juan field in southern San Juan county, other than shallow wells which have al- ready obtained production of oil of to run automobiles without refining. it ts stated. It is admitted that the Utah Southern Oil company ts affiliated with the General Petroleum cor- poration and it practically controls the San Juan, Cedar Mesa anil Mexican Hat structure, with the ex- ception of a few choice parcels of land held by individuals who ob- tained title to the land from develo»- ment work and filing made many years ago. The San Juan oll fields included in the territory to be covered by the Utah Southern Oil company is reported by geologists to be the present time anywhere in the world. The district is said to have. all of the good characteristics that go to make a perfect oil field, with none of the bad ones that have been shown in other fields not fully developed. Much of the future of the San Juan county depends upon the tests of the deeper sands, it is stated, and the operations of the two wells to be put down by the company will be watched with keen interest by all the large of] operating companies Two shallow wells will bo sunk im- mediately by the Utah company to supply fuel.for the sinking of the deeper tests. The operations will be carried on in what {s known as the Bluff field. H. W. Loucke is the driller on the ground at the present time who will have charg of the drilling of the two wells. Boundary Butte Tost. Southwest Of] company wildcat on Boundary Butte structure ig shut down and it is probable company will contract for the completion of the well. No. 1 was lost and a new hole started. Petroleum Club to Hear Talk on Oil Field Policy ‘What policies are foremost in the minds of the men who are on the Salt Creek Producers Conservation committee, as they seek to effect or- derly production and drilling in the Salt Creek field, will be made known tonight at the meeting of the Wyo- ming Petroleum club. M. J. Foley, chairman of the committee, will ad- dress the gathering in the court house at 8 o'clock on the work of the body which he represents. J. M. Douglas, geologist here for the Union Oli company of California, Market Gossip Was to have been on the program this evening, but due to new develop- ments at Wellington, Colo., he will not be present. Mr. Dougherty of the Mammoth Oil company, will deal with production problems. The Wyoming Petroleum club is open to all men who are conneoted |S. with the of] industry. Those who have not already specified their in- tention of joining are requested to attend the meeting at the court house this evening and become mem- bers. and Briefs - On Operations in Oil Fields Baxter Deep Test. Most important of the 4drflling operations now being carried on by the Midwest is its deep test of the Baxter Basin structure in Swect- water county. This well is No. 6-X on section 11-17-104. The present depth of the hole is 2,800 feet, or 400 feet below the big gas sand. At 2,900 the Morrison sand is expected. VU. P. Surveying i..nc. A surveying crew under. the direc. tion of Assistant Engineer W. J. Woodworth of Omaha of the Union Pacific railroad, started work this morning surveying several routes from Fort Collins to the Buckeye ranch, 18 thiles north of this city to determine the best route for the ex- tension which the Union Pacific pro- poses to build from this city through the gas and oll field of which the present $2,000,000-foot gas well gives promise. North Casper Creek. Drilling operations in the North Casper Creek structure have been shut down for the winter by the Midwest. Cotton Prices Break NEW YORK, Dec. 4.—An excited opening of the cotton market today with a break of 77 to 100 points on first sales followed a smash in the Liverpool market overnight after heavy continental and hedge selling, December dectined to 35.25 and Jan- uary to 34.90, representing $11 to $12 a bale loss from the recent high records. ‘Test In Idaho Arbon valley which lies gouth of American Falls in Idaho, is soon to be tested, according to information veceived from that state. If neces- sary, the test will be carried through the Brazer sand to the black oll for- mations, Quadrant, Tens'eep and Ameden. Two Near Oakley On the structure near Oakley, Ida- ho, two test wella are being drilled. It {s reported that an ofl sard has been tapped which is capable of sma'l production. Metals NEW YORK, Dee. 4.—Copper, quiet; electrolytic spot and futures, 18%@13%. Tin, easier; spot and nearby, 47,12; futures, 47.00. Iron, prices unchangec. Lead, steady; spot, 7.00@7.26. Zinc, qui East St. Louis spot and nearby, 6.35. Antimony, spot, 8.75. Butter and Eggs | CHICAGO, Dec. 4.—Butt creamery extras, 540; standards, 50%c; extra firsts, 60% @52%0; firsts, 46@48c; seconds, 42% @43%c. Eget, higher; receipts, 3,470 cases; higher; Bonds New York Stocks NEW YORK STOCKS—LAST SALE Allied Chemical & Dye . American Can ifio ~------—--. 145% | Central Leather - 11%) Cerro de Pasco Copper ----. 43% Chandler Motdrs ——.. 5a Chesapeake a: Ohio __-. 4% Chicago and North 62% western Chicago, Mil and St. Paul pfd 26} Chicago, R. I. and Pac. ------ 23% Chile Copper ween-an- 26% Chino Copper ------.---. 16% | Consoli(ated Gas ...----- 60% | Corn (oP pe Eat EINES, | 5 Cosden Ol -......-.--<--+--- 31 Crucible Steel ~—.----_-. 67 Cuba Can Sugar pfd. -..--.. 52% Erie -~-.... ceccdbewnnecentimeee 0% | Famous Players Lasky --..-. 70% General Asphalt ed General Electric --.—--.-. 184% General Motors -—..--... 13% Great Northern pfa on-- 58% Gulf States, Steel --..-.-----. 30% Tiinois Central ~----aec------ 108% | 3 Inspiration Copper ace —aon— International soon Int. Mer. Marine pfd International Paper Invincible Oil Keelly Springfield Tire — 31% Kennecott Copper ---.. 35% Lima Locomotive --.. =. 65 Louisville and Nashville Mack Truck .. Merland OW - Maxwell Motors Middie States Oil Missourl Kan and Teex new — Missour! Pacific pfd .. New ork Ceentral ...- Precucers und Refiners Ls ed —: Reading ------------—-—--+ Republic Iron and Steel ---. 1956 3 be Casper Daily Cribune Stocks :: Grain S AND QUOTATIONS BY LEASED WIRE cy Es (By Wises, Creamer & Compasy) LOCAL OIL STOCKS Bid Asked 10 12 21 33 69 90 as 20 6 28 80 32 - 26 28 10 12 2.05 2.10 121 1,23 03 04 Doming -—-—------ v7 08 Elkhorn ~...--....--. 03 04 BE. T. Williams -.... .i4 45 Sencccecwnccese «IT * 19 Frantz ..---.--—--.. x Gates Jupiter Kinney Coastal - BY mee Sd Zance Creek Royalty 01% .02 Marine ~-....-.---.-. 1.85 1.90 Mountain & Gulf -—. 1.18 Royalty & Producers. .07 08 Bunset . ...--.---... 03 Tom Bel! Royalty . 203 Western Exploration. 3.50 Western States 13 Wyo-Kans 55 BE O8 temo wes 10 NEW YORK CURB CLOSING Western Exploration - 3.25 3.40 Mountain Pretlucers — 14.75 Glenrock Ofl ~~~ 62 Salt Creek Pras 18.12 Salt Creek Cons --- 7.00 Cities Service Com_-- Livestock 10.75 10.87 136,00 138.00 Northern Pacific ! Chicago Prices. Pacific Of] -..e-s0c-. 3 | “SHICXco, Dec. 4~(U. 8. Depart- Pan American Petroleum B - 59% ment of Agriculture.}—Hogs—Re- Pennsylvania 42% | ceipts, 67,000; slow, mostly steady 2 ete ge 5% B to strong with Monday's average: ‘bulk good and choice 200 to 300 ;pound butchers, $7.15@7.35; top. $7.40; desirable 150 to 190 pound Roebuck 85 paverages, mostly $6.90@7.10; pack- Sinclair Cdn Ol) 23 ing sows, largely $6.65@6,.90; good 88%4 | and choice weighty slaughter pigs, 36% | $6.00@6.50; heavyweight hogs, $7.10 133" | @7.40; medium, $7.0007.40; light, Sing | $6.80@7.20; light light, $6.18@7. 19% | Packing sows, smooth, $6,65@7.0 Toba Products A ...2-... 91% | Packing sows, rough, $6.45@6.65; Transcontinental, Oll 22-222. 33"! slaughter pigs, $5.50@6:50. Union Pacific -----------~ 12: Cattle—Receipts, 16,000; ; United Retail Stores 2 anne - 18400; Cnevee: U. 8. Ind. Algohol Jnited States Rubber United States Steel Utah Copper ---. Westinghouse Etectrio Wi'lys Overland --..---. American Zine, Lead and Colorado Fuel and Iron Montana Power National Lead Shattuck Arizona Standard Oil Stocks |. Bid Asked Anglo 15% Buckeye Continental Cumberland Calena Tiiimois Indiana. Wat. Tran Ohio Oll .-..----. 66 67 ‘Prairie Of] -—--------- 220 220% Prairie Pi weenwscnne 98, 97 Cat Creek .----.---—---—_-—3 Lance Creek Grass Creek ~-.-.-—~-~--=--- ‘Tochiight Eli Basin -..-....--—s0---- Greybull ..-—----—-.------- Rock Creek -----------------= Salt Creek -.-----.----------- Big Muddy --------------. Mule Creek -----..--—----... Sunburst .---... Hamilton Dome rather slow; better grades fed steers, yearlings and fat she stock, gen- erally steady with Monday's general market; lower grades, weak;; spots lower; killing quality steer run | rather plain; sbe stock in compara- tively generous supply; early top yearlings, $12.50; other lots, $11.00@ 12.00; bulk fed steers of value to sell at $8.75@10.50; bulk fat cows of value to sell at $5.25 and below; few ght canners, downward to §2.25; bulls, strong to 10c higher; bulk bolognas, $4.65 and above; plainer Kind, $4.00@4.25; veal calves, active, 9 to packers, $10.50 stockers and feeders, steady. Sheep—Receipts, 16,000; fairly ac- tive; 1Sc higher; sheep, strong to 25¢ higher; feeding lambs, strong; bulk fat lambs, $12.85@13.00; some heid heavies, $4.50@5.00; several loads good feeding lambs, $12.59. ‘ Omaha Quotations OMAHA, Neb., Dec. 4—(U. S. De- partment of Agriculture)—Hogs. Receipts 9,500; active, strong to 10c higher; mostly 10c higher; bulk good and cholce 200 to 325 pound butchers 6.70@6.90; top 6.95; mixed loads car- rying packing sows and lights 6.35 @6.60; packing sows 6.25@6.40; avy- erage cost yesterday 6.48; weight 2 Cattle. Receipts 7,000; desirable medium weight steers and yearlings fully steady; others s'ow steady to weak; bulk fed offerings 7.50@9.50; top yearlings 11.75; she stock, bulls and veals steady; bulk butcher cows and heifers 3.75@6.00; fed heifers up to 9.00; canners and cutters $2.50@ 3.50; bologna bulls 3.00@3.75; beef bulls up to 5.50; stockers and feed- ers active, steady to strong; bulk stockers 5.50@7.00; feeders 6.00@ 7.00; top 7.75; pcaker veal top 9.50. Sheep. Receipts 15,000; fat Iambs active, fully steady; wooled lambs 11.85@12.00; bulk and top 12.00; fed clipped lambs 10.55; sheep strong: ght ewes 6.25@6.40; wethers 7.7: i yearlings 9.75; feeders stcady; early sales 11.75. Denver Prices. DENVER, Colo., Dec. 4.—(U. 3. Department of Agriculture.)—Hogs Potatoes CHICAGO, Dec. 4,— Potatoes, steady; receipts, 84 cars; total U. 8. shipments, 387; Wisconsin sacked round whites, United States No. 1, $1.00@1.10; Minnesota and North Dakota sacked Red River Ohios, United States No. 1 and partly graded, 90c@$1.00; Idaho sacked Russets, U. $1.80@1.90. NEW YORK, Dec, 4—Ca'l money easier; high 4%; low 4%; ruling rate $%; closing bid 4%; offered at 4%; last loan 4%; call loans against ac: ceptances 44%. Time loans easier: mixed collateral, 60-90 days 5; 4-6 months 5; prime commercial paper 4@5%. seit firsts, 45@48c; ordinary -firsts, 35@]- Who's going tq win the beautifu) 400, Packard coupe at Lloyd's? —Recetpts, 2,800; strong to 10c¢ higher, latest bids steady; top, $7.25 for choice 210 to 215 pound weight; $7.15 paid for choice 220 pound aver- ages; early bulk 185 to 225 pound butehers, $6.50 to $7.00; few inferior to. common down to $6.50; packing sows, steady, mostly $5.50; pigs, un- Pitas killers, $5.75; stock pigs, Cattle—Receipts. 2,300; calves, 100; steady, quality plain; stockers and feeders, $5.00 to $7.15; best cows, $5.00 down; few heifers, $5.35@5.50: good canners, $2.00; several loads feeder cows, $8.00@3.2! medium stock heifers, $4.10; vi Steady to strong; ;choice, $8.2: Sheep—Reeceiptsy, 1,700; fat feeder lambs, strong; two loads of 93 pound fat lambs, $11.50; one loud good feeders, $12.10; sheep, strong; best handy weight ewes, $6.2 joad at $6.20. elses NEW YORK, Dec, 4—Spot cotton quiet; middling 36.65, fat lambs strong to around | higher; fat ight weight ewes, $7.25; | | calves, | STOCK TRADING 5 MIXED AGA Congressional Deadlock Ex- erts Bearish Effect On Exchange NEW YORK, Dec. 4.—Speculative uncertainty over the length of time {t would require to organize con- gress and the weakness of cotton influenced considerable irregularity in today's stock market. After selling off in the first hour, partial recoveries were made under the leadership of the rails, the Erie shares, Chesapeake and Ohlo, and Pennsylvania especially displaying strength. Sales approximated 850,- 000 shares, NEW YORK, Dec. 4.—(Wall Street Opening)—Irregularly high prices characterized the opening of today's stock market. United States Steel and Baldwin opened fractionally higher, as did several other active industrials. The sale of a b'ock of 10,000 shares of Pennsylvania rail- Toad at 41, was the feature of the early dealings, the stock later ad- vancing to 41%. Union Pacific was again heavy, Another flood of offerings came into the market in tho first half hour and turned the course of prices downward again. Davison Chemical broke 3 points and American Suma- tra tobacco, Marine preferred, Lack- awanna railroad and Guif states Steel, 1% to 2%. Baldwin, Stude- baker and American Can so'd a point below yesterday's final figures. Pon- nsylvania Raflroad and Atlantic Coast Line each advanced about a point. Foreign exchanges opened lower. Developments of pronounced strength by some of the railroad shares, especially Pennsylvania, Chesapeake and Ohio and New York. Chicago and St. Louis, together with lower rates for and time money, halted the active selling movement before noon and a num: ber of issues rallied a point or #0 on active short covering, United States Pipe came up from 54% to 58% and DuPont, May. Department Stores, Western Union, Maracaibo Oll, United Fruit and Congoleum also displayed considerable strength the last mentioned climbing three points to a new high for the year. Rutland preferred gained three points, Wheeling and Lake Erie preferred tw: and half a dozen other rails advanced 1 to 1% points. Erie common and the second pre- ferred and Rutland preferred touched their highest prices. of the year. Call money opened at 4% per cent. Special stocks were run up sharp- ly after mid-day but the usual lead- ers showed but little variation from the prices prevailing at noon Houston Oil touched 61% compared with its early low of 67%. All of the Market Street Rallway issues advanced briskly, the second pre ferred gaining five points, United Railways Investment preferred: and Martin Parry were also substan- tially higher. The closing was frregular, Public utility shares were marked during the late dealings and general Hlec- tric also wag strong. United Rail- way investment preferred advanced four points, General Hlectric 3 and Brooklyn union gas 2%. Foreign Exchange NEW YORK, Dec. 4.—Foretgn ex: changes irregular. “Quotations in cents: Great Britain, demand 434%; cables, 434%; 60-day bills on banks, 432%, France, demand 5.34%; cables, 5.35, Italy, demand 4.32%; cables, 4.32%. Belgium, demand 4.61% cables, 4.62. Germany, deman -000000000025; cables, .00000000002 Holland, demand 37.88; cables, 37.93. Norway, demand 14.87, Sweden, de- mand 26.28. Denmark, demand 17.78. Switzerland, demand 17.42. Spain, demand 12.99. Greece, de mand 1.90. Poland, demand .000030. Czecho Slovakia, demand 2.9244. Jugo Slavia, demand 1.14. Austria demand .0014. Rumania, demand 52%. Argentina,. demand 31.50. Brazil, 9.05. Montreal, 97 29-82. Larue | Sugar NEW YORK, Dec. 4.—No im- provement was noted in demand for refined which was quoted on the basis of 9.20 to 9.25 for fine granu: lated. Refined futures nominal. Sugar futures closed easy; approx- imate eales 16,000 tons; January 5.13; Marey 4.53; May 4.61; July 4.70, peace identi LIBERTY BONDS “ NEW YORK, Dec. 4—Liberty bonds closed. 3148 99.28; first 98.4; second 4s 98.1; first 44s 98.1 second 48 98. third 4%s 99. fourth 4%s 98.8; U. 8. government 4%s 99.14. Silver NEW YORK, Dec. 4.—Bar silver, 64%; Mexican dollars, 48%. Flax DULUTH, Minn., Doc. 4—Close flax December 2.41%; January 3.44; May 2.42%. Less than one-third of the rev- +ente of Atertenn railroads is dé rived from paskenger transporta- ton WHEAT SCORES PRICE ADVANGE Eastern Holders Increase Stocks In Lively Trade Session Today CHICAGO, Dec. 4.—Wheat scored advances in price today after a brief period of weakness at the start. Initial declines were ascribed to fail. ure of the Liverpool market to re-| spond to yesterday's upturns on this side of the Atlantic. There was a continued Iack of selling pressure here however, and moderate buying on the part of commission houses led soon to a rise in values. The opening, which ranged from % to ‘ec lower, with December $1.04% to $1.05 and May $1.10% to $1.10%, was followed by an ascent all around to well above yesterday's finish. Wheat continued its upward tend- ency in the later trading, with ea: ern longs adding to their holdings. The close was firm, % to lc net higher, December $1.05% and May 81.11% to $1.11%. Smaliness of receipts gave strength to the corn market.- After opening at 4c lower to 4c advance, May 744% @% to 74%c, prices made a decided general upturn. The fact that country offerings were Hmited and that consignment notices were decreasing had a sur- tained influence in the subsequent dealings. Corn closed firm, % te Jac net higher, May 73% to 74c. Oats, affected by diminishing | stocks here, started unchanged to so higher, May 45% to 45%c. Later, all months showed gains, Higher quotations on hogs put firmness into the provision market. Open High Low Close WHEAT— Dec. ---= 1.04% 1.05% 1.04% 1.05% May 1.10% 1.11% 1.10% 1.11% July ---- 1.08% 1.09% 1.08% 1.09% CcOoRN— Dec. -. 73% 18% May ~. 4% July ---- .75% oOaTS— Dec. ---- 43% May ---- 45% July ---. 43% LARD— Jan. 2-11.83 11.95 11.82 May -~--11,85 11.95 11.85 RIBS— Jan, -s--10.00 10.00 9.95 9.95 May -..-10.10 10.10 10.05 10.05 Cash Grains and Provisions. CHICAGO, Dec. 4.—Wheat—No, 1 hard, $1.10@1.11. Corn—No. 2 mixed, 76%c; No. 2 yellow, 77% @86c. Oates. 0. 2 white, No, 3 white, 44@44%c. Barley—68@79c. Rye—No. 2, 72 Timothy seed—$6.60@8.00. Clover seed—$15.00@28.75. Lard—$12.26, Ribs—$9.50@10.37. HOUSE oESolON lo ADJOURNED IN DEADLOGK (Continued from Page One.) nesota; Laguardia, Republican, of New York, and Sinclair, Republican, of North Dakota, 44% O45 ic: WASHINGTON, Dec. 4—A fight to the finish is threatened by the score of republican insurgents of the! house who prevented organization | yesterday of the sixty eighth con- gress at its opening sessions, Having blocked the re-election of Speaker Gillett on four ballots, the progressive bloo after a conference} last night announced forma'ly that | it would renew its battle with the) convening house at noon today and wage it indefinitely unless republl- can organization leaders gave assur- ance that the house would have full opportunity to vote on amendments to its rules. With Representative Longworth of Ohio, the republican leader, show- ing no disposition to yield, members of the house were prepared for an- other day of futile balloting. Lead- ers of the repub!ican factions and of | the democrats, who yesterday voted | as @ unit for representative Garrett of Tennessee for speaker, again were | marshaling their forces for renewal | of the conflict. Meantime, the senate was ready to proceed to business, but was unable! to do so because of the deadlock in| the house which had the added effect | of @ possible indefinite postpone- ment of the delivery to congress of President Coolldge's first annual The president had planned congrefs in person tomor- row. Representative Woodruff of Mich- igan, secretary of the progressive bloc, who yesterday voted for Mad- den of Tlino!s, for speaker on every ballot, told his colleagues at last night's conference that he made an unsuccessful effort to negotiate with Mr. Longworth. He dec'ared that after the house had taken four ballots he had at- tempted to out'ine to the majority leader the position of the insurgents on the rules question and had re- ceived no indication that Mr. Long- worth waa disposed to deal with the progressive bloc. After the house had adjourned, Mr. Longworth etated that organization leaders were prepared to deal with all members of the party individually | | Czechoslovak Rep. 8s, ctfs ---.-.. Danish Municipal 8s A ..-... Dominion of Canada, 68, 1952 .--.. French Republic 748 .-.--.-. Japanese 4s ~-.....W.. Kingdom of Belgium & Kingdom of Norway 6s -.-..-.-------s------2----- BARU Cite 00. 1848 i. cscncstuesensadesasason State of Queensland U.K of G. B. and 1. 5: je 37 --_---— RAILWAY AND MISOBLI American Smelting 5s -..-.. American Sugar 6s -. American Tel and Tel American Tel and col., tr., Anaconda Copper 7s, 1938" .. Anaconda Copper 68, 1953 .... At. T. and San Fe., gen 4 Baltimore and Ohio’ cv.,'4 Bethlehem Steel con Canadain Pacific deb, 46 —....... Chicago Burlington and Quincy ref. Chicago, Mil and St. Paul cv. 44s Chile Copper 6s ~. Geodyear Tire gz, Great Northern A woe Montana Power Ge A..-....-.- Northern Pacific ref., 6s B Northwei U. 8. Rubber 68 /.. — Southern Pacific ev., 48 2... Utah Power and Light Ss ....._.__...--. Western Union 6% ....... Westinghouse Electric Ts .. Wilson anc Co.. Ge ..-. — AGE NINE. * Livestock : All Markets 4% 94% 104% 104 104% wewweeennnenee- 101% 101 O14 M’MASTER FORCES TRIUMPH | SOUTH DAKOTA CONTEST OVER U. S. SENATORIAL NOMINATION PIERRE, N. D,, Dec. 4—(By The Associated Press)—The senatorial contest in the republican party be- tween the Sterling and M ter | forces was thrust into the state pro- posal meeting today and precipitated a fight for the state chairmanship which led to @ roll call on the names of H. J, Bushfield of Miler, the Me- Master nominee, and. £. O. Frescoln of Winner, carrying the support of the Sterling forces In one of the} closest votes in the poiitical history of the state, Bushfield was elected Ly a vote of 38,805 against 38,684 for his opponent. PIERRE, 8. D., Dec, 4—First se- lections for the 1924 presidential pri- maries will be made today by the state proposal convention of the deniocratic, republican and farmer- lebor parties. In the democratic convention the supporters of former Secretary of the Treasury William G. McAdoo} will do battle with the sponsors of a/ campaign in behalf of Henry Ford, | hile in the republican gathering, | tho advocates of Hiram Johnson of California and Calvin Cootidge will! face thelr tests. ‘The farmer-labor assemblage will! have before it the names of Henry Ford and senator Robert M. Lafol- lette of Wisconsin, In addition to jresidential preferences, the conven- tions must name majority candi-| dates for the United States senate and ol] state officers. Platfurm suggestions for the na- tional conventions to which the pres- ventions must subscrite in writing aiso will be framad. A move by Ford democrats to bring about a consolidation of the conventions was defeated in the dem: oeratic meeting by a vote of 27,434 to 17,661. The question was on sus- tnining the chatr in q ruling that n resolution for fusion was out of orter., The entire For delegatior voted to overrule the chair tut was defonted by approximately 10,000 votes, The vote on the plank commend4- ing the national administration was 76,103 to 20,550, This plank also includes repeal of the 6% percent earning clause of the Esch Cummins act; revision on the income tax law on incomes less than $10,000 and on earned incomes and opposed to un- earned or investment incomes; en- dorsement of tho St. Lawrence waterway system and federal regula- tion, manufacture and sale of coal oil, and sugar when necessary to prevent profiteering. Governor McMaster’s conduct of state affairs and his state in the gasoline war was indorsed in an- other plank by a vote of 66,551 against 21,707. Other planks urge legislation to aid the department of agriculture in organizing cooperative marketing societies and to consol date a'l state agricultural and live- stock organizations into one group. Higher tariff on farm products and | formation of farmers cooperative as- soclations were recommended in an- other plank. Both were unanti- Identiai selections of the state con- mously adopted. ee with an organized group. This po- sition, together with the announced stand of the insurgents, convinced the rank and file of house members that barring an unexpected develop- ment leading to a compromise, they were facing a protracted siege of balloting for speaker. Democrats, while insisting that they wou'd stand out to the last for the election of Mr, Garrett, declared that they, too, favored some amend- ments to the house rules and believed that opportunity should be given to the house for full discussion and ac- tion. . Four candidates for speaker are in the field, with Gilett and Garrett running neck and neck in the vot- ing yesterday. Gillett, on the first secor.d and fourth ballots, had a slight lead, but Garrett forged ahead on the third by a single vote. Throughout the balloting enteen members of the progressive group voted steadily for Cooper, of Wis- consin, a leader of their group. Mad- den of Illinois, the fourth candidat polled five votes, although he con- sistently supported Gillett and an- nounced to the house that he was not & candidate. 511.245 POURS INTO THE GHEST (Continued from Page One- much in drawing and color art, was shown in the excellent posters which were exhibits today. Fo'lowing the meeting these posters were distri buted to business men and will be seen for the remaining days of the drive in many store windows. One cannot help but be impressed by the artistry and ingenuity that have deen used dy the school children in preparing this publicity material. Sometinge Thursday there will be a parade of the high schoo! students, headed by the cadet band with a symbolic community chest carried along under armed guard. It is said that there will be other plans made to convert the participation of the schoo! children into a veritable pageant. With such spirit, with so inclu- sive a backing as that rising to meet the needs of charity for the year 1924, no one can now doubt the “over-the-top? outcome of Caspet's first Community Chest drive at tts but would not conduct negotiations close Thursday. It ig not difficult for the people to realize that by giving once in sufficient amount, future recurrent campaigns in the name of the poor and the affilctea are eliminated. Having had all afternoon in which to work and with tomorrow morn- ing before them, the results report- ed ut the Tuesday noon luncheon of leaders should show more than half of the $54,000 raised. In all prob- ability tomorrow’s total will ap- proach the $35,000 mark. An Increase That Decreased A leading national advertiser a few years ngo began in a small way with his advertis- ing. Tho first year salesmen cost 714 per cent, and adver- tising 14 per cent, a total of 21 44 per cent, Each year since the advertis- ing appropriation has been in- creased at @ greater ratio. To- day the investment in advertis- ing is many times the original figure, yet the percentage of cost for saissiues. is 2 per cent and for advertising 3 per cent. against 2114 per cent total cost in the beginning. Another manufacturer began advertising by making an in- vestment of 31 cents per unit of the product. The actual re: sult was that the investment resulted in a cost of only 23 cents per unit of the current year’s sales. Tho next year the advertis- ing was fixed at 27 cents per unit on the previous year's sales but again increased cur- rent sales brought the actual cost per unit down to 21 cents. This process continued for a number of years with constant- ly increasing advertising n- vestment but the percentage of sales cost per unit sold had by 1922 been reduced 46 per cent in the face cf tremendous increase in advertinng outlay. his answers the question, does advertising Increase prices? — FLOUR. MINNEAPOLIS, Minn., - 4— Flour, to 20b higher; family patent, 6.15@6.30. Bran, 26.00@27.00.