Casper Daily Tribune Newspaper, December 9, 1923, Page 17

be Casper Sunday Eridune ‘AGE FIVE Finance OIL ADVANCE HALTED New Financing and Revolution in Mexico Curb De- mand for Listed Shares; Railroad Issues Soar During Week NEW YORK, Dec. §.—Revolution-) activity in investment stocks. New ary activities in Mexico and reports! York Central and Baltimore & Ohio) A of new financing by the Pure Oi! eoreee new tops today but profit| A' Ing in carriers of the northwest and other companies had a tendency eaten the advance. Four to 12 to restrict the demand for oil shares| point gains were recorded In several during the last week despite im-j leading industrials for the day, note- provement which resulted from a/bly General Electric. Atlantic Re- falling off in domestic crude pro-| fining, American Ice, Liggett & duction which was the main bullish factor. A steady advance in railroad shares, brought about by reports of high earnings and car loadings and @ declaration by President Coolidge favoring consolidations and rates that will bring a fair return, featur- ed trading of the week, and today's brief seasion witnessed strength and Myers and Fisher Body, but there Was some irregularity at the close. Heavineas in steel shares was at- tributed to a falling off in unfilled orders and resultant reduction in operations. More time money was available at five per cent, all money rates being relatively easier than last ‘week. Ohio Shuts Down Drilling On Four Wells in State Four shutdowns are reported by the Ohio Of! company. The pri- mary cause of this stop to drilling operations is the winter weather which renders transportation of ma- terials unprofitable. The company's recent Segre in the Lance Creek field still flowing close to 2.000 aru daily. ‘Two completions in Salt Creek upon which tests have been made show that No. 3, section 12-39-79, is do'ng 125 barrels, while No. 7 in the same sections produces 115 barrels. Other Ohio operations are: Rock River. No. 10 State, section 34-20-78; Grilling at 2,595 feet. No, 2 Diamond, section 21-20-78; eidetracking 8%-inch casing at 3,755 1 No. 3 Harrison-Cooper, east onc- half of section 3-19-78; swabbing at depth of 3,488 feet. No. 2 Harrison-Cooper, west oxt- half of section 11, ; swabbing at depth of 3,272 feet. Grass Creek. No, 4 Washaki and No. 68 Mill- fron, shut down for the winter. No. 39 State, section 19-46-98; underreaming at 2,805 feet. No. 19 Wiley. section 19-46 shut down for the winter at 1; feet. Salt Creek.—No. 12, southwest one-fourth of section 1-39-79; stil! cleaning out at 2,027 feet. Northern Montana.—Big Sandv No, 2, section 16-26-17; arilling at 2,100 feet. Malta.—Section 21-24-24; 10-inch casing at 1,236 feet. Baxter Basin.—No. 1, section 22-16-104; fishing for batler at 2,505 feet. 4 running Hidden Dome.—No. 1, section 31-48-90; shut down at 2,345 feet. Oregon Basin.—No. 1, section 8-51- 100; oO hut down at 1,715 feet. ‘Brien 2-24-86; drilling at 4.365 feet. Mahoney No, 2, section e.—No. 3 State, sec- tion 36-26-88; drilling at 3,335 feet. Utah.—No. 1 Coalville, section 6-2-6; underreamin; »770 feet. Grain Prices Given Boost In Trading at Chicago CHICAGO, Dec, 8—Bullish in- fluence were at work in wheat trad- ing of the last week. resulting in a material advance in prices. but the market closed today unsettled with December at $1.03%,, May at $1.09 and July at $1.07%, while corn was also up, 73%c for December and | xq: 74%0 for May. A net gain was also recorded by oats and provisions moved up on excellent shipping de- mands. Decline in the visible domestic supply led to the upturn in wheat prices, which ruled for three days tions for a new loan had been com- Bleted by Germany. ngraner however, caused, a ebArD congress, however, a reaction but the decline failed to, offset previous gains. Small receipts of corn and oats lent strength to both. Today’s range of grain and pro- vision prices follows: 2 Open High Low Close WHEAT— Dec, «--. 1.03% 1.03% 1.03 1.03% Y non= 1.09% 1.09% 1.08% 1.09 July ---- 1.07% 1.07% 1.07 1.07% CcORN— Dec. -. .74 4% 738% -.73% May -—- .74% .74% .74% .74% July ---- .75% .75% .75% .75% OaTS— Dec. ---- 48% 43% .43 AB May .--. .46 AB% 45% 45% July ---- 44% 44% 43% 43% LARD— Jan. -.--12.50 12.50 13.32 12.32 aMy ~.--12.45 123.47 12.30 12.30 RIBS— Jan. -.-. 9.87 9.87 9.85 9.85 May ----10.00 10.00 9! Mi.cket Gossip and Briefs On Operations in Oil Fields Gas Hopes Dimmed CHEYENNE, Wyo., Dec. 8.-Max Ball, president of the National As sociation of Petroleum Geologists, does not believe that Cheyenne and other cities of this region will be supplied with natural gas from the ‘Wellington well. “The wel] is turn- ing into an oil well,” he says, “and the ofl prodyction will increase while the gas flow diminshes.” Already, he estimates, one-thirtieth of the gas content of the entire Wellington structure has been blown out through the uncapped hole. Pine Bluffs Region. Much interest !s being shown in the of] structure located northwest of Pine Bluffs, known as the Spring Creek dome. It is understood that this territory will be given a thor- ough examination at once. Prac- tically all the land is leased at this time and a bona fide company is wanted to give it a test. The Pine Bluffs section is rated as in the ofl bearing territory, according to the government survey. KASOMING OPERATIONS. Lost Soldier. Bair, No. 36-A, section 11-26-90; changing tools and swabbing. Depth 1,739 feet. No, , section 14-26-90; recov- ered lost tools and now drilling at 2,542 feet. Mahoney Dome. Old gas well B-1, section 28-26-88; completed casing and shut in. C-1, section 26-26-88; fished out tools and now cleaning at 2,420 feet. Argentine Oil Sir John Cadman. K. C. M. G., chief technical adviser to the Anglé- Persian Oi! company, limited, reached London direct from Soutn America at the end of last week. To a representative of Oil News he gave an interview, but declined to discuss the position of the Ang!o- Persian Of] company in Argentina beyond confirming the denial that that company had abandoned all its interest there. “At Comodoro Riva- davia, they have a very difficult problem to solve, for the field seems to be one where the geological dit- ficulties and anomalies militate heavily against accurate locating of wells. In @ way, the discovery and de- velopment of the field has been a romance, for, as everyone knows, oil was originally struck in a well designed for water, and, since thi.t day, the development of oil in tho district has been brought about largely by empirical methods, The oil is found in porous sandstones of Cretaceous age; and in these sand- stones of varying thickness and porosity the physical characteristics which govern production are very uncertain. This alone would make forecasts of production unreliable even if the other geological factors were known. ‘When we add to this the fact that several breaks in the geological sequence intervene btween the oil horizons and the surface, we have the elements of a problem of colossal difficulty and uncertainty. Only con- tinued drilling, combined with care- ful study of well logs, can hope to find a solution of the problem. Private enterprise attempting to work oil in this country is handl- capped by the absence of a mining law applicable to petroleum. I am glad to see the government is about to correct this. and the broad principles of the proposed new law seem to be sound.” Bonds New Yor ‘York Stocks NEW YORK STOCKS—LAST SALE Allied Chemicat @ Dye -.-- American Can Car & Foundry --. Chespeake and Ohio .------- Ch cago, Mil. and St. Pau} pfa Chicago, R. I. and Pac. -.-.-. Chile Copper -...------—---- Corn Products --.-2-.+<-.-- Confen OM --.-. Crucible Steel 22-222 Cuba Cane Sugar pfd ---— Famous Players Lasky General Asphalt General Etectric General Motors Great Northern p' Gulf States Steel ~ Inspiration Copper... International Harvester eon. Int. Mer, Marine pfd Invincibie Oi Pretlucers and Refiners Sinealr Con. Ol] Southern Pacific --.--.------ Southern Railway .~..-.-..-- Standard Oll of N. J. ~~. - moceare Corporation ‘Colorads Fuel and Iron ‘National Lead. NEW YORK Anglo 15% 15% 1. 18 ont nental 43% Cumberland 8 Galena we 8. O. Ind. ~--—-------- Grass Creek e----0---=-----~ Tochlight .. Elk Basin ~----.------------- Greydull seeneneoee--nea-eene= Rock Creek ~----------------- Balt Creek ---------~-----~-.-- Big Muddy ~-.-—~---.-—..---- Mule Creek Sunburst ----..----------.---- Hamilton Dome --~--------- Boston Wyoming .. -90 Buck Creek ~~... 20 Burke ---------. 28 Blackstone Salt Creek 30 32 Chappel! - c-—------- 26.28 Columbine --.---..-- 10 13 Central Pipe Line -. 2.05 2.15 Consolidated Royalty. 1.24 1.2 Cow Gulcn 03 4 Domino -. 06 = .08 Elkhorn -_.. 03.04 43 44 wewenaene 5.00 6.00 07 08 weonee-= 00% .01 woen- e+ 16 18 01% 03 Marine --~----~------ 1.85 1.95 Mountain & Gulf -.. 118 1.30 Mosher Okla. aol New York Oil 5 . P.cardy -------<sc22- .03 04 Preston ---.---------- -00% .01% Red Bank ---~---.... 4.50 5.50 Royalty & Producers - .06% .06% Sunset - 02 08 Tom Bel! Royalty -. 03 03 festern Exploration - 3.25 3.45 Western States --.... .16 18 = sr} NEW YORE CURE CLOSING. Mountain Producers - 14.87 15.00 Glenrock Oil ..-..--.. 62 Salt Creek Prds. --.-. 18.25 18.50 Salt Creek Cons ~-.-. 7.00 aa Mutual ......-... - 11.00 Cities Service Com. .. 137.00 18) 00 i dustry. y|the depression in 1907, Stocks i 2 Discussion of Business and Securities by Roger Bab- S| son, Statistical Expert, Holds Interest for Many Holders WELLESLEY HILLS, Mass., Dec. 8—Roger W. Babson has just com- pleted a survey of the e’ectrical in- His findings, summed up in a statement issued today indicate continued rapid growth for the in- dustry and are of unusual interest to investors owning the securities of these electrical equipment corpora- tions. “The long trend in the growth of electrical equipment industry is strong'y upward,” says Mr. Babson. “The industry has had @ remarkable increase In every item of import- ance. All companies have, of course not done equally well, many of the smaller concerns that rushed into the business without experience or financial backing having failed. On the other hand, well managed bus!- nesses with competent organizations have thrived. “The basic trend of electrical de- velopment {s more strongly upward than the basic trend in general bus- iness. It is so strong that depres- sions in general business such as 1914, and 1921 cause only temporary slacken- ing in electrical lines. This strong growth is exemplified by the increas. ing use of electrical power. lectri- cal horsepower used in manufactur- ing increased from §,935,970 h. p. in of aj! the power used in manupfac- turing. This latter percentage com- pares with 55 per cent In 1919, and slightly under 40 per cent in 1914. The total output of central stations which furnish approximately 70 per cent of all electrical power used in manufacturing, has shown a similar growth, The market for electrical industr'al equipment has kept pace with this development. “Notwithstanding the strong 4} growth in the production and sale of electrical equipment, apparatus, and suppies, all concerns in the in- dustry are not now equa'ly pros- perous. Increasing costs th's year have apparently tended to neutralize the advantage of larger sales. More- over, the competition of the larger concerns is apparently hurting many smaller concerns. It is true, how- ever, that some of the smal'er con- Grain : 8 AND QUOTATIONS BY LEASED WIRE ELECTRICALINDUSTRY ON STOCK EXCHANGE) wi cums GROWTH IS FORECAST their year's high as against a decline in all industrials of slightly over 13 per cent. This is quite in keeping with the continued activity in biconi| ing, the growth of radio and nor- mal e’ectric power development. “It is interesting to note, further more that the peak of this group last spring was the highest point ever reached, 36 per cent above the | top of the 1919 post-war boom and 29 per cent higher than the 1915 war jpeak. In other words, the stock market has lent material emphasis to the thought so often expressed ‘this is an electrical age.” Vhat the future holds for these and also with the building boom has been very good. Furthermore, the| stocks is, of course, dependent upon growing use of electricity in the) the earnings of the industry that home and in industry has fostered, they represent. From a very long an attractive market. This ten-|swing point of view there would @ency is stil! strong and may do|seem to be room for still greater much to support the business dur-|¢arning power and still higher stock ing the quieter periods that may be! prices than have yet developed. Livestock faced next year. “Considering all electrical equ!p- ment, apparatus, and supplies as a whole, statistics show that the cost | of raw materials used in their man-| ufacture average 45 per cent of the| manufacturer's sel'ing price—direct | labor a Little over 20 per cent. In-| asmuch ag this industry uses aj proximately 175 different raw ma-| terials, the trend of costs has al close relationship to the trend in| raw commodity prices. Costs have, therefore averaged higher this year) than they did in 1922, but copper! and many other raw materials have’ been declining since last April, so that alert executives have had op- portunities to buy at somewhat det- ter price levels than that represented | by the average. “Reports from various quarters in- dicate that prices of electrical ap- paratus and supplies have, on the average shown but iitt!e change during recent months. Inasmuch | as costs have been higher this year than last year, prices might reas-| onably have also averaged higher. Competitive conditions, however, Plus quiet conditions in general bus-| Iness—present activity as shown on Babson chart 1s 6 per cent below! normal—have tended to counteract, the effect of rising costs and there has been more or less irregularity in | prices. This condition Is expected | to continue. “Considering the situatior. as a) whole. the industry shou'd do a good business in 1924. For the long Full, the outlook is stronger. Some duy the railroads will e'ectrify on a large scale, The super-vower prop- ositions now awaiting legislative sanction in various states will, when established, bring railroad e’ectrifi-| cation very near. Moreover, elec- tricity is still in its infancy—great development {s probable in many dif- ferent avenues of use.” Turning to B'ectrical Equipment securities, Mr. Babson continues. “Electrical equipment stocks have held well’ against the declining trend of the stock market since last March The two leading listed issues in this 1p, Westinghouse and General Certainly any railroad electrificatior Program adopted on a large scale wou'd mean only one thing, substan- tial earnings to these properties. For the next few months it is more than Ukely that electrical equipment ts- sues will turn downward in accord- ance with the trend of security prices as a whole. They will then, of courge, participate in the broad general ss eh NEW OFFERING AT COLUMBIA The offering at the Columbia theater for today is “My Cinderella Girl,” a musical oddity In two acts. The setting is different from those previously given. The action of the Play takes place in the firat scene on the campus of the Columbia unt- versity, in the second on the plains of Colorado. The characters are true to life, inasmuch as the title suggests a myth. Lady Leslie is of Pnglish birth but becomes accus tomed to the ways of the American cousin. The many complications that arise from an ordinary student who becomes mistaken for a mod- ern sculptor make {ft a play worth while. Miss O'Neil, Mr. Quinn, Mr. Brownlie, and Miss Turner have an excellent chance to display their ability in this venture. A ufique ine of vaudeville offerings has been <“osen for this performance, Brownie, Turner, Tiney and Dunbar and Dunbar officiating. Surveying and Locations Geologists, Oil Kxperts, Oil Field Maye, Blue Prints WYOMING MAP AND BLUE PRINT CO. P. O. Box 325 Room 10, Daly Bldg. All Markets Pipeline Runs Fall Off In the Mountain Region A decrease of 2,232 barrels in daily average pipeline runs for felds of the Rocky Mountain district Is reported by the Inland Oil Index for the week ended November 24 as compared with the average for the preceding week. This reduction wax largly du: to a falling off in ruas from the Salt Creek area, which off- set gains in the Big Muddy an‘ some other fields. A comperison of daily average runs from all fields for the two weeks mentioned follows: Fields Nov. 17 Nov. 24 Salt Creek -.---.---130,000 123,919 Teapot -.. eone 64,750 Bie Muddy 3.050 Grass Creek -. 3,035 Elk Basin 1,690 1 ‘606 Notehes .. -- 95 1e Greybul!, ete. 145 33 Rock River 3,400 3,609 Lance Creek ----.. 4800 3,142 Polson Spider -.... 610 $33 Osage -------.- ame 675 600 Hamilton Dome .. 530° 510 325 309 80 80 Lost Soldier . 4,835 4,840 Ferris -... 100 100 Cat Creek 4,685 Kovin-Sunburst Miscellaneous ~~~. 965 650 For results try a Tribune Giapet- Growing Use as Fuel. PHILADELPHIA.—That oll burn- ing for house heating {s coming into greater use was the view of the OU Trades association at a meeting in the Bellevue-Stratford ‘The only drawback at the present time, {t was declared, is the lack of & proper type of equipment. The speakers dwelt on the necessity of having proper equipment; prefer- ably a noneravity burner, and it was urged upon the oil industry to begin a plan of education as to what ts a good burner. pach tc hath ene Fo Think about something for the car this Christmas, MARINE OIL Will pay $3 per share for Marine Oil—par value $8 stock. Reply by letter Box B-132, Casper .. Daily .. Tribune, Casper, Wyo. The Holidays are coming and guests will soon begin to arrive. Will you be ready for them? Of course the guests will notice the bathroom equipment—the tub or shower, the lavatory and the water closet. They will also notice the present or ab- sence of an ample supply of hot water in the bath- Electric, are off but 7 per cent from In Time for Christmas A Large Carload of CLARK-JEWEL RANGES 1914 to 16,317,277 h. p. in 1919, and is now estimated.to approximate 20,000,000 h. p., or nearly 70 per cent Has Just Been Unloaded -Make this a practical Xmas and stop kitchen drudgery by allow- ing us to install one of these wonderful ranges in your home. In This Car We Have All the New Types and Sizes; » Many Equipped With the LOR OVEN HEAT REGULATOR Also Several of the Smaller Types Without the Regulator These ranges carry all the recent improvements and we speci- ally invite your inspection at once. TERMS ARRANGED TO SUIT YOUR CONVENIENCE Casper Gas Appliance Co. Phone 1500. 115-119 East First Street “MERCHANDISE THAT MERITS CONFIDENCE” room. * There is still time for us to install modern hot water service for you before the Christmas guests come. See us for particulars. Schank Plumbing & Heating Co. Phone 711 359 E. Second Our Xmas Rush Comes Daily Many concerns hire an extra force during the Christmas rush, When that once-a- year spurt is over, the force is reduced. however, Everybody In every Utility organization, there is a once-a-day rush. wants service at the same time. But, unlike the merchant, the Utility can- } not reduce forces. Rush-time employes, i equipment and expense are necessary, even during the lull. —which is just another Utility problem not generally realized. TERE POWER CO. NATRONA