Casper Daily Tribune Newspaper, January 27, 1924, Page 15

UPWARD NEW YORK, Jan. 26.—Upward trend of stock frices during the week wag continued in today’s brief session of the New York exchange otis among the issues in active cemand, due to’ advances in the price of erude and prospects of fur- ther improvement in the industry. United States Steel common sold at 104%, the highest price recorded since April, but failed to hold its ad- vantage and declined on profit tak- ing. G0Ood demand was witnessed high grade specialties but sell- ing pressure was exerted against several well known traders. Rails lagged behind the majority of the list In the week's upward movement but industria! stocks climbed higher under the influence of low money rates and favorable trade developments, General Elec/ trie sold at the highest tn 20 years. The upward trend in oils, resuilt- ing tram crude and gasoline price REVIEWED WELLESLEY HILLS, Mass., Jan. 26—A Supreme Court decision, a rapid increase in idle cars and sgpid price advances in some rail- cad bonds during the last two weeks have tended to create much confusion regarding the rajlroad situation and the probable fortune of the individual roads during 1924. Since we are all affected by some phase of the railroad's activ- ity—rates, purchasing policy, divi- dends or profits—Roger W. Bab- son’s analysis of the situation is of more than passing interest. In a summary of hig invest.gation, issued today, the statistician sees lighter traffic, lower rates but better net results for many of the raflroads in 1924. “rhe recent ruling by the” Su- preme Court on the Recapture Clause of the Transportation Act changes the Interstate Commerce Commission from a court of ap peals to a board of directors,” ac- cording to Mr. Babson. “The in- dividua! roads are no longer inde- pendent units buf parts of one great transportation system. The es set by the Commission are suppose@ to allow the roads to make 5% per cent, which return is, however, not guaranteed. If the figure of 6 per cent is exceeded, one half the balance goes to the Commission to be used as a re- volving fund’ for aiding weaker roads at 6 per cent interest. At the same time consolidations have been legalized which change the whole aspect of the railroad situa- tion. “It is clear that there is little incentive for the strong road to make more than 5% per cent. Let us see. what is likely to happen. mal—so there will be no great in- crease in freight tonnage. Recent rapid increases in id’e car figures would suggest that we now have plenty of equipment and rolling stocl{ to handle present volume. There is certainly no need for further increase along these lines. “Railroad rates, both freight and passenger, stiould go no higher anc a few revisions downward may be expected to the benefit of those affected. These developments will reduce gross income for the rail, roads but the loss will be offset to a considerable extent by the in- creased efficiency. The improved condition resulting from expendi tures tn 1923 will ald this. For the past 18 months the railroads have been spending at the rate of a bil- Organized with 60 members, the Salt Creek Petroleum club. is, now well started on its way. Meetings are to be held in different camps in the field second Wednesday’ éveh? ings of each month. Officers elected pamidronate an 8 ay Petroleum Club Program Arranged For Tuesday Night Several Important papers are to be read Tuerday evening at the mesting of \e Wyorning Petroleum club at the county court house. The Program follows; “Value to the Ofl Industry of Ac- te Well Information"—J. G. Bartram, Midwest geologist. “The Processes of Candle Manu- facture"—Dr, S. H, Diggs, Standard STOCK TREND AGAIN alt Creek Petroleum Club Holding: Meeti os FOR WEEK Teapot Probe at Washington Gives Setback to | American “intemation Gai Some Oil Shares but Others Advance on Strength of Crude Price Increase. 5 Atchison advances, was checked at intervals. win clair and Pan-American issues being Cerro de hammered by the short sellers. Steel issues responded to a large volume of new orders and the as- surance that there would be no de- cline in the price “of steel products. Co! Independent companies were strong along with United States Steel. Fresh buying waa noted in the| GAicitle spects of higher sugar prices anda leading centers would be the sma'l- resumption of dividend payments by| General Asphalt — 4434 | Tom Bell Royalty -..~ est in years was the main factor in several of the producing compantes.| General Electric Western Exploration : boosting values to a record high, for Coppers were stronger on metal de-| General Motors ______ Western Oil Fieds - the season. Governmental action mands. Great Northern pfd ground under bear attacks of pro-| Int. Mer. minent speculators and fell off on reports of relat RAILROAD PROSPECTS |: Atl, Gulf and West 1 Testimony taken in the investiga-| Baltimore and Ohio tion at Washington of the Teapot rte b raed hong lease was a bearish factor in this Eine Fetesleum department of trading, both Ssin- Gatrt tte - sugar sharea, due largely to pro-| Cuba Cane Sugar Famous Players Las! Ps Gult States Steel Motors and accessories lost Inspiration Copper _— micals| International Paper ty poor] Invincible Oil ings by one of the larger com-| Kelly Springfield Tire panies. Kennecett Copper Locomotive 05 | tations for all kinds of grain were]Tent, chalked up during the week’s trad- ing on the exchange here, a {rao- tional increase resu!ting from to- day's activity in wheat while corn| WHEAT— Mosher Okla ......-100.00 125.00 ' $1.07% and September at $1.06%. New York Oil --------12.50 14.00 01% Corn was unsettled, the close for Picardy reahobes May being 79%4c; July 79%c and Sep- Red Bank \------..--< tember at 90%c. Royalty & Producers - liams -----——— wea 07 Slow: eeeeemeeweene 0196: 03 Steel _ Indications that winter accumu- rs lations of corn in Chicago and other in the northwest looking toward as- sistance for the grain growers was also a bullish foctor. Heavy profit taking by traders caused oply tem- porary stebacks in prices. Wheat and oats were strong in Marine pfa@ _ NEW YORK CURB Mountain Producera - GRAINS SCORE PRICE |Market Gossip and Briefs ADVANCE IN CHICAGO!On Operations in Oil Fields New High for Season Touched by Com as Up- Teton" Potacam “company wat | Bt aes is tana fall of ol wail Tread times: S l R 3 Lander ber as rerecned itty sos tons saa, love within 500 feet of the Main Factor in Market Advance. CHICAGO, Jan, 26—Higher quo- ports of crop damage were also cur- Today’s range of quotations in the grain and provision market Open High Low Close 1.09% 1.08% 1.08% 1.07 1.07% 1.06% 1.06% 1.06% 1.06% 1.07% 1.07 19% BOK 81 Be ai ASN 11.50 11.62 9.90 that the hole is standing full of oll five miles north of Lysite. This test is down 650 feet with 12%<4nah| | Has Antiseptic Name. casing at this depth having passed| ‘GREELEY, Colo.—That some of through five thin sands in lower | the oil activity in Weld county at Part of Lance formation all carry-|the present time is based on the ing gas tn small quantity and no| expectation of finding oil and gas water. This test will go to the black | at a depth of less than 3,800 feet in oll sands if nothing is found above | sands rather than in the Wail Creek the Chugwater. what are known ag the Hygieno or Big Muddy sands which are be Neved to lie at much greater depths is indicated by geological reports. All of the eminent geologists who have lectured here or who have been interviewed admit the possi- North Casper Creek. Arkansas Natural Gas company (Benedum and Trees interests) is un- losding standard rig material at Bucknum for test at North Casper 79% Creek. The rig was shipped from | bility of striking big oil deposits in 2 9% Thermopolis. The location ts in| the Hygiene sands which are so _ 90% section 7-36-81. called because of their very notice- er able outcroppings near Hygiene in «i! Alt ATM Looks Like Oi. Boulder county. The wells brought i 45% .45%], LOVELAND, Colo—Stockholders | in in Boulder county were struck in 43. 143. |! the Dry Creek Ol! company here | the Hygiene sands. believe that the drill in their test = 41,50 well, eight miles west has tapped Ss the ‘oll-bearing cand. At a depth TUAG TE46 1 o¢/1,406 feat. the tit in some mage 9.55 | Her Stuck at the bottom of the well 9.82 9.32 | 8M the rope waa broken in an at. tempt to dislodgé the drill, ‘The “Humane Death” for Butterflies yy te apa ‘ c rope, when taken from the well, Mutual sympathy with corn and also by 10.00 10.00 10,00 Lima, Locomotive Glenrock we 56] reports of lighter receipts. Re- | July 10.25 10.25 10,25] looked like it had been soaked in] ros aNGcELEs Cal., Jan. 26— Mack Truck oll. and the drillers at the well said | qynited Press) The ¢ ou wid k Co eo oe Angeles Motors ee ee Soe Society for the Prevention of Cruel- Middle States Oil ~ New Braator ty to Animals will investigate to New York Central BY BABSON |=: Producers and Refiners ____ Pure Oil TNeading No Increase in Rates Likely, Bonds Represent |, Good Purchase for Investment, Says Southern Statistician in Interview. Southern equipment. Lost motion has been and their ratio of operating cost] Utah Coy will be rellevect of a part of this | National expense-in the future. It is prob- ters of a billion will be spent on such work this year. Practically all this expenditure will go into re- pairs in right-of-way, double track: ing, extensions and permanent im- provements rather than rolling The stock. Man “Roads making more than the return allowed will be Induced to |’belle do. one of two things. They will “General busin norma! — the- Babsonchart shaws activity at 5 per cent above nor- ether plow the surplus back into permanent improvements, such as better termina! facilities, or ab- sorb weaker roads, wherever such merger will be of future advan- tage. Either way the bonds of the stringer roads are strengthened. in one case actual property is im: proved and tangible security in- creased. In the other, competitive advantage and increased future earning power is gained. Such de- velopments together with the new theory of the Transportation Act argue well for the junior bonds of the sotinder roads, But I do not see where either the new ruling oF its anticipated effects will: help | rail bonds already in the highly | speculative. group. The bankrupt road is st:ll bankrupt under the new ruling. It is the solvent road in need of funds to finance cur- rent operations and permanent improvements that will be helped most.” i Mr. Babson finds that recent strength in railroad bonds is re- Mecting heavy buying by LHurvo- pean investtrs who want to put thelr money in something Ameri- can for greater safety and who look upon our railroads as an iceal investment. “(Probable development during 924," concluded tha statistician ‘Indicate slightly’ lower rates and better service to the public; pos- | sibly smaller but; better distributed Pprof:ts for the roads; and a strong er position for the vast majority of investors holding railroad bonds."” at the’ organization ‘meeting’ were Cy M. Raden, »president; +H. vice president ond vice p “thitd ‘vice * pre treasurer; ‘Lee: 8.‘ Miller; Secretary Speakers at the first gathering were E. L. Estabrook, petroleum engineer | of the Midwest Refining company, and ¢. BE, Beecher, deputy supervis- or of the Casper office of the Bureau of Mires.’ * Sue pe The Old Reliable Phone 948 and 949 Oll chemist. “Cementing in the Salt Creek —Mr. Bozeman, Perkins Ol! 1 Cementing company official. Natrona Transfer Storage Fuel Co, ‘0. Tobacco Preelucts A Transcontinental Oil lion dollars a year for repairs ana] "1g" Pe ‘Alcohol United States Rubber done away with to a large extent | nite! Stetes eee this year as a result. Wiilys Overland “Having made the bulk of these| Butte and Superior ____. necessary improvements the roads | Colorado Fuel and Iron able that not less than half a bi'- ° . Non, nor more than three quar. Widow of Service Bureau of Washington desires to learn the whereabouts of Mrs. Isa- Hampton Davis, widow of| Rouse, formerly of 933 South Wol.| New Orleans and Monroo over the sro ala Charles reeset cozeneet exservice | cott street, is being sought by Miss| Ouachita river was resumed this | terminal at $1.25 a ste ty med ar 8 act! man. iyone able i . re ow! more a> 1924 promises to continue about] formation is ee camemerecpnees Missa OT Sond 0 mernain we 1 rh (Grow ace, Pacific Iron and buck Automobiles. ATLANTA, Jan. 26—Although e: automobile sales have been good Eres Railway -_..___. ae a.E expect that restrictions on the allow- ances for used cars which go into effect February 1 will check the volume of business. However, all - Grass Creek, Ught --.--------- Grass Creek, heavy -.-~- Torchlight ---. largest spring business they have had since the war. other materials. Sunburst -...---. Hamilton Dome -.. 5 Pot Butte -..-.--------------.85% Lander ---.t--...--.--------- ,70 Being Sought orders 7,755,193 feet were for export. municate with the local chapter of the Red Cross in the Chamber of Commerce building. ‘The whereabouts “of "Holden 0.| ment of freight by water between United States Veteran oil. requested to com.-. fifth street, Chicago. A barge line for handling oll ship- position to sell. - Success Is Cumulative “I€ you want to know whether you are destined to be a success or failure, you can easily find out. The test is simple and infallible. ARE YOU ABLE TO SAVE MONEY?” 4 Your success helps others. You cannot alone in business and every forward step of yours carries along on the same road. In this way, your city becomes prosperous and great. In exact ratio to your success or failure your city succeeds or fails. That’s why we, as bankers, desire to sapivant succeed. That’s why we a point of rendering service to depositors and endeavor to safe- them from financial reverses. It is our business to know the things you are likely to ask about. We shall welcome you as a depositor and extend every facility to help you solve your p) RESOURCES $4,972,000.00 WYOMING NATIONAL BANK ' CASPER, WYOMING Safe Deposit 4 Per Cent Boxes Savings For Rent Accounts Na Pac! 2% 22) Trade News in Commodity Markets of Country ments with the Smackover field wil! be inaugurated in a few days. Studebaker Corporation -_1_ 101 65) since January 1, considering the Building Materials. Texas © weather, some men in the trade| SAN FRANCISCO, Local building mate Pect a slight increase in the price of lime, cement and brick, in the manufacture of which fuel ol] is Clothing. q " Lumber. CHICAGO, Jan. 26.—Local retail FP. 0. Box 325 SEATTLE, Jan. 26.—Production | stores reported today that the larg- ob 5 Room 10, Daly Bldg, of lumber for the last week in west-| est single item in swelling gross n ern Washington and Oregon ‘mills | receipts since December has been the has been 16 per cent above normal|sale of women's two-piece suits. capacity. New orders were 6 per|The three quarter length coat has cent .below production. Of these | been the most popular. ‘ Potatoes, PORTLAND, Ore., Jan. 26.—De- MONROE, La., Jan. 26.—Move-| mand for potatoes for carload move. ment is quite favorable here, with prices for number 1 f. 0. b. common determine what methods are being used in killing the insects on W. F. Hewlett’s butterfly farm at Up- land. There is nothing on the society's books to indicate what constitutes a “humane death for butterflies", but it is understood that chloroform or some other sporific drug should be used. Hewlett has a “fancy butterfly" % industry at the Upland home, and Jan. sells butterflies in all parts of the dealers ex- world. The highly colored wings are used to decorate trays. Standard Oil Stocks 15% 15% 7 80 Elk Basin .. Space at the Southern Automobile | used, as a result of the advance in Ss . pper _ baad Greybull -.. -55 | show has been disposed of and some | California crude olls. They antici 1b, jurveying and Locations to gross income should be better} Westinghouse Electric _..._. Rock Creek local dealers are preparing for the| pate a slight decline jn the price of | 5’ 6, : Geologists, Oll Kxperts, Oil Field Maps, Bine Prints WYOMING MAP AND BLUE PRINT CO. Costs Vary WHY FACTORY RATES ARE LESS THAN RESIDENCE RATES In order to get a clear idea of why cost i of service varies among the different groups of users, let us do a little sup- posing. Suppose there is an electric Power-house from which lines radiate east and west, * Suppose one line runs to the east and con- nects with a factory that consumes a@ sup- ply of 4,000 kilowatts of electric en day and night, ide Suppose another line of equal length runs baprvgnih nc oe ego where a supply of e lowatts is to be distribute: the inhabitants, es a Obviously, the cost of service to the factory is much less than the cost of service to the town. With the factory customer the cost of dise . tribution begins and ends with the line run- ning from the power-house to the factory. In contrast, the cost of distribution to the city must include not only the line to the city, but also an electric substation and a network of distributing lines to the various residences, stores and buildings, Ergo: The controlling element in the scal- ing of rates by the rate-fixing body, which in this State is the Public Service Commis- sion, is the cost of each class of service. NATRONA POWER COMPANY » SALT CREEK BUSSES 3 Busses a Day Each Way LEAVE CASPER—ARKEON BUILDING | Leave Selt Creck 8s.m. Baggage and Express is apse, Called for and Delivered 8 & m 9 a. m, Salt Creek Transportation 2 p. m 2:30 p. m. Company Tel. 144 3 p.m ———— a TRAIN SCHEDULES - Chicago & Northwestern Arrives ensenn2:l5 Dp. m. Westbound No. 603 -J_.. Arrives 2 No, 623-4 p.m. 5:00 p. m. Departs 4:00 p. m. 8:35 p.m. 7.30 a, m