Casper Daily Tribune Newspaper, January 20, 1924, Page 22

Pat r€ Ss is at at = 2 ic is mn at ir rT c a it Var ow Ca ae eee S. ee ae Soa AS OAS t PAGE EIGHT Oil Finance et ne Livestock : Grain ws AND QUOTATIONS BY LEASED WIRE 3,500,000 AUTOS TO BE SOLD THIS YEAR 3 Says Roger W. Babson in Oatliting Probable Development and Industry; Competition Seen. WELLESLEY HILLS, Jan. 19.—Roger W. Babson, sta n, study the automobile that the trend for Mass. ot indicated His summary statement issued 1924. to day proba production, with pric tendi as good as 1923. “When automobile production !is charted azainst general business," says Mr. Babson, “we find that the number y cars made fluctuates radica'ly rding to general bus!- ness con In 1909 with gen- business above normal, pro- ed 100 per cent over 18 pr on was only per cent of 1919 showed an increase of 70 per cent over the year h 1920 at about level. ne following year, again be'ow nor n dropped to 79 per cent of fig The year 1922 increase of 54 per cent and 1923 figures 56 per er than 1922. “Such radical increases are ex- tremely difficult to maintain and we ns. the 1 showed an the has just completed a 440,000 may be expected. Produc: Industry tion for 1924 then will be split into 3,500,000 new cars as tration. = that previously new car sales have lower and profits not quite always exceeded replacenients. ; leaders tn the motor industry will Activities of Motor .'000 new cars. An-increase in regis- tration. of about 10 per cent or: 1,- about 57 per cent for replacements and 43 per cent for increased regis- It is interesting to note ice economy demands large scale production it 1s probable that tend to lower prices in order to get volume. Lower commodity prices would favor such a policy and in- creased markets can only be found by tapping successively lower price levels, The popular trend is also toward economy of operation and lighter construction. « “In the manufacturing fleld wr also find that the ten leading organ izations produce 90 per cent of: the cara “Profits in 1923 were substanti- ally higher than in any previous year,” continued Mr. Babson, “and the investor is interested in. the probable trend of motor stocks. A decline in volume and increase in competition would Indicate a small- er margin of profit for 1924. .Com- | face 1924 with the prospect of nor-| parative conditions therefore do not busines: Babsonchart | indicate appreciably highert levels ivity at 1 per cent| for securities dependent on these It is therefore prob-|carnings, Examining the funda- able that production will recede from) mental business situation we find the 1928 high mark of slightly 4.-/no evidence that would promise’ a 000,000 to about 3,500,000 new cars! broad bull rise from present levels in 1924. that might carry the motor stocks “Another interesting development/with it. These two groups of fac- is evident in the increasing propor-|tors seem to agree that motor stocks tion of replacement. The satu as a group, are not an attractive tion point in the motor industry has| purchase at ruling prices. been discussed at length by those| “There is a tremendous and” es- holding various opinions regarding|tablished demand for motor: trans- it, but the statistics now indicate! portation,” concluded Mr. Babson, that 13% per cent of the cars regis-| “that will eventually be- met along tered at present will be replaced in| practical and conomical rather 1924. This will require about 1,950,-/than luxury lines.”* ‘ 3,000 BARRELS FROM (By Wilson, Cranmer & Company)* Allied Chemical & Dye ------ 71 American Can ‘ American American American American Sugar American -T. and T. American Woolen Anaconda Copper Atchison Baldwin Locamot Baltimore and Ohio Bethlehem | Steel ae California Petroleuny Smelting 8 Canadian Pacific -.---..—. 48 Central Leather --.- WW. 16% Cerro de Pasco Copper -—... 45% Chandler Motors % Chile Capper Chino Copper Consoli@ated Gas Corn Products -. Cosden Oil __ Crucible Steel Cuba Cane Sugai Famous Players Lasky General Asphalt General Electric General Motors Great Northern pi Gulf States Steel Inspiration Copper International , Harvester Int. Mer. Marine pfa -. > v netble Ol fy Springfield Tire Kennecott” Copper Limo .Lacomotive. Mack Truck Marland Oi! Maxwell Motors Midd’e States Olt New York Central Northern Pacific Yacific On Pan American Petro‘eum B 51% Producers & Refiners ...... 37% Pure Oil 2 Reading — Republic Ircn and Steel 53% Sears Roebuck -. ory Sinclair Con. Oil 2645 Southern Pacific - 87% Southern Railway 42% Standard Ol! of N. J. --.---.. 40% Studebaker Corporation 102% Textis' Co. --N.----.. a4 ‘Tobacco. Products A ---.. Transcontinental Oi! U.-8. Ind. Alcohol --. - 7 United States Rubber - 39% Unitec) States Steel - 100% Utah. Copper ~ - 6 Westinghouse Electric ~ 61% Willys Overland — ——- 13% Butte and Superior 16% Colorado Fue! and Iron 27 National Lead 137% COLORADO OIL WELL Gusher Production Uncorked by Texas Company On Hamilton Dome; Well’ Is Capped Pending Production Facilities. Word to the effect that the Texas company’s discovery well on Hamil- ton Dome, Routt county, Colo., is capable of flowing at the rate of more than 3,000 barrels, has been received here in press dispatches from Denver. It is said that a one- half hour test of the flow resulted Rich Offers Are Made for Wyoming Platinum Claims pr in an output of 71 barrels. The well is capped in. Whether or not the Texas company plans to drill through the Dakota sand immediate- ly and so fully test the possibilities of the productive ‘horizon’ at this time, is not known. There is no storage of any appreciable capacity near the new field. A DENVER, Colo., Jan. 19,—Offers of $1,500,000 have been made by a British Columbia company for claims filed in what is believed to be a huge gold and platinum placer. district four miles northeast of Cen- stalling pipe lines in the placer, that operations may be begun in’ the spring to develop it. There now is five feet of snow in the district, and work will not begin until this melts. According to Mir. Ellis, several companies of California are bidding tennial, Wyo., according to J. H. Ellis of Denver, who, with two as- sociates, has staked a claim in the placer. “We belleve this to be the richest country in the world in gold and s'etinum ore,” Mr. Ellis said yester- * ory. Sherrard of Cheyenne, « member of the B. C. and M. com- pany of British Columbia, on a re- cent visit to the field, made like as- sertions. . “More than 200 men now are in- for claims. Nearly ten syndicates and individuals have filed claims in the district. Among these 1s. Prof. E. Prosper McCarty, head of the school of mines of Wyoming uni- versity. Jesse and Bert Northrup of Denver have a'claim with Me- Carty. The Wyoming Platinum and Placer syndicate and the Empire Platinum -Mining company of Laramie have claims that they will develop in the ‘spring, Mr. Ellis said. Market Gossip and Briefs. On Operations in Oil Fiel Big Lumber Order PORTLAND, Ore.—Mid-West Re- fining company, Casper, Wyoming, [ten of gummy and waxy hydrocar- bons, commonly called paraffin, in | ot other pumping wells, tubing, is negotiating for 2,500,000 feet of} equipment, and in the pores of pro- lumber to be used in the construc-| ductive ofl sands, have long been tion of oil derricks upon its holdings; recognized, but the trouble has not in the Salt Creek district. J. H. Mudgett, assistant purchasing agent for the company, who was a recent Portland visitor, stated that the Mid- ‘West Refining company is constuc- ting a $6,000,000 power plant at Salt Creek and will electrify the en tire producing area of the field. The derrick timbers will from Pacific coast mills, Mr. Mud gett stated. and will be used during the coming spring end summer, when the company plans an ex- tensive campaign. Electrifying the fie'd calls for a targe order of cedar poles which will be purchased in the Inland Empire. Eighteen cars have already been “ordered from pole companies*in the Spokane dis: trict, Mr. Mudgett stated, and ad ditional orders will be placed upon his return. Paraffin Troubles Discussed | been overcome, states R. | Mills, petroleum engineer, Van A. Depart- | ment of the Interfor, in Serial 2550, ee issued by the Bureau of Mines, | 1924 Drillmg Program | It is the intention of the Salt be purchased| River Wyoming-Idaho Development|Gtass Creek light - ‘Trust to finish its Willow Creek well, and also to start at least four | test wells in the Star Valley field. }It is not improbable, according to | the company’s statement, that other fields will be entered. | A Abandons Loveland Plans. r leases totalling }some 15, es near Loveland, |Colo., the geologists of the Mam- moth Oil company have reported unfavorably on the acreage. Petroleum Club The next meeting of the Wyo- Bid Ask Bessemer - -.-------- .2 23 Big Indian --~... 12 Boston Wyomin, 1.12 Buck Creek ~--. BT es Burke . --. 28 Black Stone be Chappell -. 26 Columbine 13 Central Pipe 2.35 Conasol: 127 Cow Gultn ~.-.... Ot Domino --~.----. 12 EIRDCEN «porno necenes 03 4 BE. T. Williams -----. 50 02 Frauts -_-. wee-nn= 5.00 6,00 Gates .2...eeenee even 07 0 Jupiter ----_.... 01 Kinney Coastal . 20 Lanco Creek Roy: 02 cMountain & Gulf ---. 1.59 1.61 Mosher Okla .-- 100,00 125.00 New York Oil -. 2.00 14.00 Preston --....... - 00% 01 Picardy ---.__. 03 04 Red Bank - 6.00 8. iioyalty & Producers - Sunset Tom Beil Royalty Western Exploration Western States —_. WyoKan --.--.----- ¥ Ou |"... NEW. YORE CURB Mountain Producers - 18.75 19.00 Glenrock Oj] ----..-. 50 58 Salt Creek Prds. ---. 23.12 23.25 Salt Creek Cons. -.-. 10.00 10,25 Mutual -.. x 12.50 S, O, Inclana 66.75 66.87 Cities Service Com -_ 10 en nennn enn 15% «15% Buckeye... wwnen-= 78% 7914 Continental ----------- 4715 48 Cumberland ~--.------. 114 115 Galena ----—~-------. 66 63 Tiltnois. ~_---- 146% 148 Indiana --—~----—--. 91 9245 Nat, Tran --------- 24% 24% N.Y. ‘Tran --i----- 88 91 Nor... Pi wecewewe = 96 a7 Ohio eewcnenneenne 16%. 77% Prairie Of] -2--------= 259%5 260 Prairie Pipe _---------- 107 107% So'ar’ Ref. ~----—-—-- eo 202 Sou. Pipe -. 96: 98 S. O. Kan. ---—--- 47% 47% S. O. Ky. ---—-------- 116. 117 8.0. Neb. ~--4----- 233 235 8.0. Ohio 312 314 58% 58% 169 16915 66% 66% CRUDE MARKET Cat Creek --------——. Lance Creek -—----. Torchlight ---+--—. Elk Basin ------------. Greybull ck Creel Salt Creek Big Muddy Mule Creek -—-~-. Sunburst Hamilton Dome Oe AE Second Rex Well. Preparations are being made by the.Ohio Of! company to spud in its well No. 2.0n the Rex Lake CORN PRICES WHEAT DOWNIN WEE "uel Peston ibe Sak Cae hog CHICAGO, Jan. 19,—Little change from opening prices was noted in closing quotations for wheat on the exchange Here, but unsettled con- ditions prevailed and May wound up the day by selling at 1.08%, July at 1.06% and September at 1.05%. May Suly Sept. were rospect while fur- Corn rallied toward the close, with! May 78 Jzaxj|De found, have been tested, as it Tier *eapuete fo, crude prices and May at 78%c and July at 78%. July -78% —-.78% | WAS Necessary to first drill a nuM-| -ospects of an increase in the price Corn prices showed a substantia! | Sept. ‘ -79% ~~ .7a% | ber Of wells to comply with the re-| or gtee] products offset largely the gain for the week but failed to hold OATS: quirements, of the different leases. | profit-taking and short selling that at.its new top price of over 80 cents] May .47% ATH 48% A well is at present drilling at developed. Bond prices continued brought about by a falling off in|July 45% 45% 44% 4% | thirty-seven hundred and fifteen ! strong, deliveries. Wheat showed a frac-|Sept 43%. 43% 43% 431g feet. that will test all of the lower |" stock trading started out the tional loss for the week. LARD: sands, which should be reached | week with a sharp setback in prices o Strength in corn prices developed | Jan. -11.76 11.77 11.62 within the next four hundred feet.! charged to the correction of al prices. with talk that livestock feeders were|May 1-11.72 11.72 11.62 Salt Wyo. weakened technical position brought paying abnormally high _ prices, The Salt Creek field is now run- | spout by steadily rising prices of the while the main factor In the wheat | Jan. 9.87 ning all-of its production and a/}.s¢ two months. “Although partial decline was based on reports of a|May =--.-10.00 10.00 9.95 9.95| "Be drilling campaign has been fecovers was seored within the next period last year, threatened railroad strike in Eng- BELLIES: - | planned for the present year. With few days, the list. turned heavy land, as well as an increase in Wheat | January 9.62 Crude oll prices ‘advancing, exten- | again poke, the close of the week. exports. by Argentina. ‘ May 1010 #!¥e drilling of the lands in which | “® ¢ Consolidated Royalty Oil Today’s range of grain and pro- vision prices follows: fifty miles west of Casper, Wyo. It has also passed a complete and care- fully checked geological examination , and ts being drilled by the Mutual UP AND | ground arilling a test well, which will be Started as soon as weather condi- tions permit. Billy Creek, Wyo. Four very large gas wells have * WHEAT: been completed in the Billy Creek | Open High Low field. during the last year, with an 1.07% 1.08% | SStimated production of one hun- 106% 1.06% | @Fed and seventy-five million cubic 1.05% 1.05% feet daily. None of the lower sands, where oil production is expected to NEW YORK, Jan. 19.—Today’s short session of the New York Stock exchange witnessed the work of stabilizing influences in closing a week featured by reactionary ten- dencies. Continued low rates for to the Operators for a strong market have reduced commitment in part due to lack of definite indications regarding the probable tread of | we hold royalty interests, and with the drilling of three new and rather exceptionally promising fields, in | which your| company has a large and substantial ownership, the de velopments of the present year should be of very great interest to our stockholders. shares. - All Markets STOCK TRADING FOR. WEEK REACTIONARY Market Witnesses: Two Big Setbacks "Of Steady Climb for Two Months but Influences Are Seen. early spring business activities. Shorts took advantage of the op. portunity’ to increase Stocks of_ofl companies with Mexi. can holdings fell off in demand, 4 uncertaint aN] ; Freight car loadings for the first week in January showed another decrease under the correspond ng crossed 43 to a new high record for all time. Lehigh Valley and Reading issues also were strong. copper below 13 cents a pound had a depressing effect on the copper ‘Business Conditions Are as Recz"t their sales. ity regarding the field situation. Trade news was rather mixed. In- revision of crude ofl and gasoline Southern Railway Sales of Company Shows Earnings Of $644,587 In Last Year, Consolidated Toyalty Oil: com- Pany’s incomié during the last year amounted to $644,587.28, or $141,- 884.97 in excess of dividend and ex- pense requirements, according to the annual report betng matled out to stockholders with the 25th con- secutive dividend. The report con- acquired a edrried working interest of seventeen and one half per cent | in approximately ‘thirty thousand | acres of ‘leases on patented lands, | near Willows, Calif. This property | was given extensive and very thor- | ough geological investigation and is now being drilled by the Mutual Oil sists of the bh nce sheet and a/company. The first ¥ ir a s well will be fica ae by B. B. Brooks as fol-| drilled without additional expense lows: to your company. A number of . sands will be tested within thirty- five hundred feet. Both gas and oil have been found in the vicinity, but off structure, and the prospects are favorable for commercial production being found on this property, Current assets: Cash on hand and in banks © fo Cash due from royal- ties and associated $ 435,107.37 The | companies -. ~-- 230,434.97 | test well on this property wi Government and other spudded in a few weeks myo andits bonds ___--.. =t-----= 124,750.00 | now drilling. Accounts receivable... 55,073.45 Grass Creek Oil and Gas Wallace Creek, Wyo. company stock =_--. 869,655.00], YOUr company also acquired a|of Oil property: twenty-five per cent carried working Lands, leases, royalty interest in approximately six thou- interests, etc, _.... 4548,487.19 | 229d acres of leases at Wallace Royalty: interests. aiid Creek, Wyo., together -with frac- It is needless~to say that the bringing in of any one the new fields now being tested juld be-of. incalculable importance to your company. Respectfully submitted, B. B. BROOKS, President. Casper, Wyo., December 31, 1923. | pemcintin Ro ete stn + Drilling Stimulated | SAN FRANCISCO, Jan. 19.+In- crease in oil prices and decrease in production has kiven new impetus to drilling operations in the Call-| fornia oi] fields. Fifty-eight new} wells were started the first half of this month, 15 in the new Torrance field. | — PITTSBURGH, Jan. 19.—Opera- tions on the part of Pennsylvania oll producers have been: encouraged by the recent advances in crude oi! prices’ and many operators expect further advances within 30 days. ——— Leaving Mines Bureau. Cc. E. Beecher, deputy’ supervisor the Casper offices of the Bureau of Mines, has announced ‘his resig- nation. He is leaving February 1 for the Midcontinent district where he will be connected with the Em- pire Gas and Fuel company. His successor here has not been named. Reflected in Check Totals ‘The Rocky mountain reglon of and Wyoming increased 3.8 per cent Colorado and Wyoming is resisting and decreased 4.8 per cent; ve the tendency of business to slow, leading cities of the Tenth ral down in comparison with ome year; Reserve district increased 24 per ago, much better than the remain-|cent and decreased 14.2 per cent: der of the Tenth Federal Reserve! and 245 leading cities of the Wnited district, as tested by the volunre of| States decreased 1.7 per cent and in- checks cashed, the comparison belng| creased 2:4 per cent. far more favorable for Dener, Cas-| }ollowirfs are the total amounts per and the other cities in the west-|of checks cashed by banks in the ern part of the @'strict than for] six cities of Colorado and Wyoming” those on the Missouri river, that report this datail to-the federal In comparison with the preceding| reserve board in comparison with week, the western business also shows better than that in the east- 9. '24 Jan, 10, "23 ern part df the Tenth Feferal Re- ~$39,581,000 - $ 43,477,000 serve district and also better than + 4,913,600 4,289,000 the average of the entire country, 095,000 the latter registering a decrease, in 729, 960,000 spite of six business days against 836,000 3,312,000 five inthe preceding week. 2,300,000 2,350,000 Checks cashed in Denver during} Totals $55,642,000 $58,493,000 the week ended Jan. 9 increased 3.6 bs per cent in comparison with the pre- Ready to Spud. ceding week, and decreased 8.3 per Everything is in read.ness for the cent in comparison with the corre-| spudding in of the test of-the Goth- sponding week of 1923. In the same} berg structure to be made by. the leases purchased tional royalties on parts of this ‘during 1923 -..___ 84,425360 | 224_Thie property ts iocated about Field conStructio 88,752.28 ae $4,671,664.47 Less reserves for de- pletion and deprecia- ' tion: __. 784,116.41 Consolidated \ building ~--2.1-__. ~-- 148,627.55 Office furniture and fix- tures ~-.-2.2_.. ae Se $5,754,275.85 Liabilities. { Capital stock: Authorized ~----$5,000,000.00 Less in treasury — Surplus — 1,099,524.50 accrued. and i 1,853,800.35 crued and. due from associated com- panies ~---_-.-.-___$ 580,871.81 _Interest, rentals, etc. 63,715.47, ————_— $ 644,587.28 cempar'son. six cities in Colorado California Oil company of Wyoming. AWAITS YOU | Less: Office, geological and general expense_....$ 19,980.14 Taxes and tax expense 14,66§.29 3 609,941.85 Distribution paid, stock- holders «_-_......... --- 468,056.38 Balance -__-. -$ 141,884.97 President's Report. To the Stockholders of The Con- ®olidated Royalty Ol] Company: I am pleased to submit herewith the sixth annual report of The Con- solidated Royalty Oil company for the-year ending December 31, 1923. The price of oil in the Salt Creek field: declined, during the year, from $1.65 to 60 cents per barrel. This Was due to the very unusual’ con- dition of the discovery of three new fields in California almost simul- taneously. | All were located on townsites, necessitating intensive town Jot drilling campaigns in each field, and thus creating a large over- production’ that brought about al- most complete demoralization in prices throughout the country. The greatly increased con- sumption “and the rapid decline of the California flush production is) now tending to stabilize prices, re- sulting in a recent Increasa of 40 cents per barrel, making the pres- ent price $1 in this field. It is highly probable that this price will be very materially increased during the year, and unless new fields are discovered that will take the: place of the five hundred thousand barrel per day decline in California and Mexico, crude oj! must rapidly ad- vance. crude oil California. During the year your company Surveying and Locations Geologists, Oil Kxperts, Oil Field Maps, Blue Prints WYOMING MAP AND structure. The new location is a The incredsed difficulties in the] ming Petroleum club is to be held | half, mile northeast of the discovery opera’ of oil wells and the losses et scent caused by the deposi- January 29. nged. Tuesday evening, A program is now being arr well which is capable of making from 500 to'700 barrels of of} daily. BLUE PRINT CO. P. 0. Box 325 Room 10, Daly Bids. The population of Snyder is increasing by leaps and bounds. town of Salt Creek. 5 Twenty business houses are doing a thriving business. New buildings being built every day. Snyder is an investment, wea PRESENT PRICES Business Lots (corner)__-_--__-____________$890.00 Business Lots (Inside) -_----_______________ $650.00 Residence Lots ____-______--__-__-_______:_$400.00 SOLD ON LIBERAL TERMS Autos Will Leave Our Office at 9:00 a. m. Sunday—Round Trip Fare $5.00 FREE FARE TO PURCHASERS OF LOTS : Don’t Put Off Making the Trip—Opportunity Awaits You WESLEY GROOMS REALTY CO. Room6 Mokler Bldg. Over Campbell Hardware Store Snyder is located at the depot in the new Snyder will receive the benefits of the great development work which will be done in the Salt Creek fields this year. Get in Now, Buy Before Lot Prices Are Advanced Again, : Phone 2364