Casper Daily Tribune Newspaper, March 2, 1924, Page 20

PAGE EIGHT Oil :: Finance BETTER MARKETING IN MIDWEST NEEDED Statistician Finds Manufacturing Coming Into Agriculture Regions of States in The Central West. BABSON PARK, Fla., March 1.— R W. Babson today made publ the fourth section of hig report on general business conditions based upon hjs recent personal tour of in- His findings for the sippi states show Mis with a gain of 16 per r last year; ing next with a gain ota third with and South Da- with a gain of shows a loss of rth Drkota a recently I ach 8, com. power Mr. innesota m. 5 Ivsis of ¢ of the we paring sov ry rapid nceptions to think constructively regarding this , sec tion. In North Dakota I find that 5 per cent of its purchasing power comes from agriculture, At the other extreme rm r cent of ing power from t » other states rar follows: Dakota, 94 per cent; Nebraska, 82 per cent Iowa, 79 per cent; Kansas, 70 per cent; and Minnesota, 57 per cent of income from agriculture. ‘These indicate that there is more sification of income in this se on than was ordinarily supposed. the situation a bit fur- th ver another mistake impression. I find that busin men in other parts bf the country, at least, discuss this section as ‘the wheat country’ and talk as though they assumed that wheat was the taost important crop if not the est source of income, From an agricultural standpoint the fig- ures on the relative importance of this crop are decidedly interesting. In North Dakota and Kansas only do we find it as the most important crop. In South Dakota, Nebraska, low and Missourl corn provides a greater income and is moro im. portant to the prosperity of a local community. Analyzing the situa- tion in Minnesota I find that wheat represents but 17 per cent of farm products, while 23 percent is derived from hay, per cent from corn, 13 per cent from oats and 25 per cent from miscellaneous products. “Every year when traveling through these states I find more and more capital being invested in manufacturing, mining and other n agricultural activities. The principal industrial plants as yet are confined to ing w milling and slaughter- industries directly connected h agricultt Canning factories veing erected at a rapid rate; dairies are increasing; and the lum- ver industry still plays an important part In checking up on these non- agricultural interests we find that Minnesota has large fron ore mines and that the northern section of that state is destined to become a grea steel enter. Missouri has nd zine intere’ Kansas petroleum deposits bh nmercializing her pot- ash and clay; while gold and silver are being mined in South Dakota North Dakota hes vast reserves of low grade bituminous coal that will ‘or pre made commercially yparent that these states a adually becoming more self contained and are building up a group of little commercial empire “Turning to the current business situation,” continued Mr, Babson, “I find Iowa and Missour! leading this group with a gain of 2 per cent over last year. uth Dakota follows with a gain of 1 per cent over business as it existed twelve months ago. Minnesota, on the other hand, shov of 2 per cent; North Dakota of 3 per cent; Kansas a loss of 9 per cent: and braska a loss of 13 per cent compared with a year ago. The difficulty in North Dakota is in the financial situation while Kansas is suffering from inactive tendencies in the oll fields, refineries, railroad shops, and certain curtailment in building. tion The armers in this sec got about as much for their corn in 1923 as they did in 1922. The wheat growers got about 20 per nt less for their crop, but the dairy district fared better than last year. Bearing in mind that general business thruout the United State: as reflected on the Babsonchart, to- day stands at 3 per cent below nor- mal this West Central section does not show up as being very far out of line.” Mr. Babson was asked why there was so much complaining on the part of these states and particularly on the part of their politicians. He replied that the difficulty is largely a problem in distribution and that it will have to be solved in the marketing rather than in the pro- duction field. CORN PRICES TOUCH HIGH DURING WEEK New Records Set for Three Successive Days But Reaction Gives Setback; Dollar Com Expected by Farmers. CHICAGO, March 1.—New high price records tor corn and a decline in wheat and oats featured trading during the week on the grain ex- change, the closing at the end of today’s short session witnessing sales of May wheat at $1.11%4 and July at the same figure, while May corn was up to 81% cents and July at 82% cents. Today's trading in wheat was influenced favorably by a reduction of estimates in reserve stocks and reports that a seed sup- ply only is left in the Dakotas and Minnesota. Corm while showing signs of weakness during the early trading, rallied in sympathy with wheat. Expectation of a dollar price for corn by farmers in Iowa, Illinois and Indiana, resulting in the with- holding of shipments, was the pri- mary cause of improvement for three successive days but some re- action developed to this movement hy increased arrivals and estimates for a large acreage in the corn belt. Today's range of grain and pro- vision prices follow: Open High Low Close WHEAT: May 110 111% 110 111% July 1.10% 1.11% 1.10% 1.11% Sept. ---- 1.10% 1.11% 1.10% 1.11% 80% 80% 81% 81% 81 82% 81% 81% 82% 48% AS ABH 46% 45% 46% 143% A2% 48% 11.10 11.17 11.27 11.87 9.67 9.92 =--- 10,25 10.50 10.55 March Louis ST. LOUIS, conditions in St. are slightly better than 1.—Business nd Missouri at this time a year ago. Orders to whol rs have fallen off somewhat as com- pared with last week but this is attributed to cold and rainy weathe and bad roads which have retarde retail selling in the country districts Confidence exists among merchants, however, that the volume of trade this spring will be large. Local financiers b&se their optimism on the small amounts owed the banks PITTSBURGH, March 1.—The employment situation here has iro proved somewhat, mills now being ble to secure more men from the yuth and west. The Cambria Stev! ny at Johnstown has in- ased { 1 indications are that cgnditions mills will continue to im- the prove. BOSTON, March 1.—There will be no increase in building costs or rents th force fram 8,000 to 11,000 | s year, according to officlals of | large mortgage houses here. They base their production on the present evel of coal and building material prices and y ROCHE he Rochester March 1.— au of buildings is ¢ riencing heaviest rush for ,building permits ever known during a winter here. ‘This is due to the fuct that a new system of fees for permits will go into effect March 1 and all pending permits will be cleaned up Friday. Under the new system the. permits’ are charged for ¢ a basis of from $1 a thousand feet cost involved. ntis issued in February totalled 000,000 more than double any pre- month. Surveying and Locations Geologists, Ol Kxperte, Oil Field Maps, Blue Prints WYOMING MAP AND BLUE PRINT CO. P. 0. Box 325 Room 10, Daly Bldg. coe New York Stocks Last Sale (By Wilson, Cranmer & Company.) Allied Chemical & Dy American Can --.. — American International Corp American Locomotive -—. American Smelting & Refg — American American American Tobacco ©. American Woolen — <2 Anaconda Copper Atchison — - Baldwin Locomotive Baltimore ang Ohio Bethlehem Steel in GOTHAM NEW YORK, March 1.—Restric- tion in trading activities and irregu- — larity of movement marked the Connon ie week In the stock exchange, but the Central Leather - general trend was upward in to- Cerro de Pasco Copper day's brief session and the closing “handler Motors was steady with approximate sales amounting to 460,000 shares. Rubber shares weakened today and many reached new minimum prices for the year, while in the general list several important gains were record- ed, notably that of Southern Rail- way which was marked up to a new high of 51. The falling off in stock market activity during the week was at- tributed in part to the fact that several large operators wintering in Florida have transferred their at- tention to the cotton market. Chesapeake and Ohio Chicago and. Northwestern — Chicago, R. I. and Pac. Chile Copper Chino Copper Consolidated Gas Corn Products Cosden Ol -_ Crucible Steel _—. Cuba Cane Sugar pfd Famous Players Lasky jeneral Asphalt — General Electric neral Motors _ Northern pfd. julf States Steel — Inspiration Copper International Harvester Int. Mer. Marine pfd . national Paper Springfield Tire Kennecott Copper Lima Locdmotive Mack Truck ~ Northwest A ell Motors Middle States Of New York Central — : Thirteen times the Burlington, ane pane Great Northern and Northern Pa- Pan American Petro cific railways have told 50,000,000 Producers and Refiners people of the varied wealth and Pure Ol! — opportunities of the states of the Pacific northwest. And among these flve commonwealths Wyoming Reading nw Republic Iron and Steel - oan barely pe has been prominently featured. Southern Pacific Announcement now comes that this combination of great railroads to run another full page adver- tisement in ten magazines having a total circulation of approximately 10,000,000 copies. This publicity which will run this month, will tel! Studebaker Corpora Texas Co. ‘oba ranscontinental Oil Union Pacific ___ Casper Bundap Criduné zi Stocks 3 : STOCK TRADING IN Withdrawal From Trading of Several Operators Reported; Price Trend Is Irregular but Mainly Upward. Railroad Advertising of SUNDAY, MARCH 2, 1924 Grain : Livestock : All Markets Fifty Cent Wool Forecast By John Esponda, Buffalo contracts at. 40 cents, says Mr. Esponda, who uriderstands that con- tracts at 40 cents have been made in Basin,’Gillette and Newcastle. “My opinion is that our wool ts worth more than 40 cents,” declares this flockmaster, “and I have no doubt that any considerable clip will not be sold for less than 45 cents. In fact, I think we will see wool bring 50 cents or more before the season is over in the state.” irae than M. Davis indicated today that unless the International Harvester company reduced the cost of binder parts to Kansas farmers, some sort of legislation would be sought to compel such a reduction. The gov’ ernor said that if bought piece by piece a McCormick binder would cost the farmer $550 or double the price of a complete new machine. SLOWS UP It is too early to make contracts on 1924 clips of wool,-according to John Esponda of Buffalo, Wyo., who heads the. Esponda company, producers of wool and mutton. In a letter to the Tribune, Mr. Esponda declares that “we have been having the best winter weather of years and the condition of sheep and wool is accordingly good.” Several small clips have gone in Johnson county on advance sales Market Gossip and Briefs On Operations in Oil Fields Eggs. CHICAGO, March 1.—Wholesalers Predicted today that eggs would drop to 20 cents a dozen in this market in March, Current quota- tions are 15 cents lower than they were ten days ago, due to arrival Thursday of 35,000 cases of fresh Reports that February orders equalled those of January ffrnished good support for steel issues, but extensive selling of coppers de- veloped with the passing of the regular dividend by the Anaconda and Inspiration and the Calumet and Hecla companies. The investigation at Washington into circumstances connected with leasing of the naval reserves con- tinued to exert a depressing influ- Large re ceipts of fresh eggs this week have caused the wholesale price to drop 3 cents, to 24 cents a dozen. Standard Oil Stocks tabiliz-| Anglo — 16% 16% ; ‘ fag tartor’ ene thal pend “ot aS Buckeye 0% Medicine Bow Drilling. pleted by the Union Oil company o: rons Continental 49 (50 460 feet. drilling | California in its test of the Fort eases paitae menaare Tani x 139 sare one Son eaten Collins structure in northern Colo tion and imports. ‘Traders for the} Cumberland -. 137) 2 is still steadily progressing in the | Collins structure in northern Col advance also heard reports that a| Galena — 63% 64 | test of the Medicine Bow structure, | rado. ettstip ae emnery to measure would be introduced in| llinois 1440147 | With the expectation strong that | effect a shutoff of a y > congress looking toward the control | Indiana 93 95 | the Lakota sand will soon. be en-| as that has been coming from the Nat. Tran. 22 23 N Y. Tran Nor. Pipe Ohio Oil Prairie Oil of ofl production and prices. nountarent hole for the last few hundred fect Gold Strike Reported. A four-foo* vein of free milling ore said to be rich in gold, is re Midwest Finds Dome. It is announced that the Midwest Prairie Pipe 105 106 | Refining’ company definit ported to have been struck in the Solar Ref. 211 215 located a closed. structure near| Dining pronerty owned by the Clit 2 s Sou. Pipe 90% 91 | Berthoud, Colo., and intends to drill] Gora “Mining company four and a 1qas omimn. 8. O. Kan. 158 160 |a test of it immediately. hai? iuiles’ from:|Cantentlale 40 yo. 8. 0. Ky 111113 ae Every ounce of the ore is being S. O. Neb. 232 235 Cement Casing String. bagged and shipped. ‘There are evi- 8.0. N. ¥. 44045 ‘A cement job on g string of | dences that the ore vein is widening of the almost immeasurable mineral |S. 0. Ohio 323 325 | 12%4-inch casing has jist been com-|as extraction progresses. resources ‘of the five states of Wyo-| Vacuum Ct ae : = ming, Montana, Idaho, Oregon and] s. P. Oil 158 160 Washington. To supplement this} s. 0. Ind. 62% 62% magazine advertising a booklet has been published for use in answering inquiries. Concrete return from this immense amount of publicity will undoubted- ly be soon forthcoming. By attract- ing the attention of the nation to this region of opportunity, a service CRUDE MARKET Cat Creek Lance Creek HOTEL | MARSEILLES velopment, is performed. Torchlight -. U. 8. Ind. Alcoho! — United United States Steel _ Utah Copper Westinghouse E. Willys Overland __ Butte and Superior Colorado Fuel and Iron Rice, NEW ORLEANS, March 1.—The Louisiana» State Milling company has purchased most of the Mexican crop, totaling 75,000 bags and will bring it here for milling. OIL SECURITIES By Wilson Cranmer & Co. Drugs. KANSAS CITY, March 1.—Nego- Bessemer . tiations for the sale of the McPike Big Indian Drug company to Lehn and Fink, Boston Wyoming Inc., wholesale druggists of New Buck Creek -__. York are almost completed, accord- Burke Ee ing to Presifent Walker of the Mc- Blackstone Salt Creek Pike Drug company. Chappel! Columbine _. Tobacco. Central Pipe Line — ATLANTA, March 1.—Georgia Consolidated Royatty_ tobacco beds are in splendid shape. por Guise Demonstrators from the Carolinas Domino who are helping develop the indus- try declare bright leaf culture will become one of the state's chief in- dustries. Frantz . Gates - W250 Jupiter . ---..-.---. 00% Kinney Coastal ~..-.. .12 Lance Creek Royalty . .02 Marine --.... x Mike Henry —_W_W.. Mountain & Gult — New York Oil Picardy Preston _ Red Bank Royalty & Producers. Sunset ~~... 01K Tom Bell Royalty ..... .02 Western Exploration — 3.65 Wyo. Kans 22222222. 15 Western States -.-... .20 e Sie bee aS TY NEW YORK CURB Wool. SAN ANGELO, Tex., March 1.— Shearing of goats is already under way between San Angelo and the Rio Grande but the shearing of sheering sheep will not commence until late in March. FORTLAND, March 1.— Wool men in Idaho and Utah are begin- ning at last to contract for the 1924 clip of- wool from their flocks. Prices are ranging from 38 to 40 cents a pound in the grease for average clips. : Steel. PITTSBURGH, March 1.—Mills of the Steel corporation at Home- stead, Duquesne, Braddock and Farrell are operating at 100 per cent of capacity, according to a state- ment issued by an official here. In Farrell one of the sheet mills at the Mercer works is progressing steadily and initial operation will start dur- ing the summer, — Mountain Prod Glenrpock New York Oil Prod. and Refrs, Coaden --... 8S. 0. Indiana Cities Service Com. Cooling System In ‘Autos Important The importance of a good cooling system cannot be overlooked. When the Dort Six made its famous run ever Lookout Mountain in high gear making 34 continuous trips, the quality of the Dort cooling system was given a supreme test, Where other cars had to stop on one trip to let motors cool, the Dort kept right on going without a single stop. The Dort system is the Thermo syphon. It ha liberal water Sugar. DETROIT, March 1.—Michigan Sugar beet growers are signing up contracts for the coming season freely as the basis has been raised by manufacturers to $2 a ton. Manufacturers are predicting that high prices will be obtained for the 1924 sugar output. Automobiles. ST. LOUIS, March 1.—There has been a revival of automobile buy- ing in this section and manufac- EE jackets and cellular type radiator. The fan is 16 inches in diameter, has four blades and is driven by a 1 inch leather belt. WANTED TO BORROW $10,000 10 Per Cent Interest. Secured by $20,000 worth of good realestate. Will pay the loan off $500.00 month. LOAN ABSOLUTELY GUARANTEED P. O. Box 692 Commodity Trade News Broadway at 103d St. (Subway Express Station at Door) NEW.YORK CITY Near Riverside Drive Central Park, Theatres and Shopping Sections Greybull _ —. Elk Basin Rock Creek Salt Creek .. Bg Muddy — Mule Creek Sunburst ._- Hamilton Dome —-.-2_2-2--. Perriw ees Byron — Notches — Pilot Butte Lander turers, of motor cars are looking forward to sales which will ma- terially exceed those of last year. Singleroom, running oa water $2.50 Single room and bath $3 Double room, bath $5 perday Handsome suites of 2,3 rooms Dinner de Luxe $1.35 served in Blue Room and Grill Exceptional Orchestra M. P. MURTHA, Mgr. Lumber. SEATTLE, March 1,— Lumber production in western Washington and Oregon mills is 25 per cent above normal capacity, according to latest reports. New orders are run- ning about 14 per cent below pro- duction. Bene enero es Ti Derrick Guides Traffic. Fort Collins, Colo., is quite an oll town and is neglecting nothing that will add to such an atmosphere. In evidence is the miniature oil derrick used at the intersection of two of the city’s most traveled streets as a traffic guide. Farm Implements. TOPEKA, March 1.—Go Osage -----. tending to bring capital to the sup-| Grass Creek, light - Port of a campaign of intensive de-| Grass Creek, heavy HE api aa Ha i taal ALA rss WHAT IS A BANK? The modern bank should be more than a depository for money—more than a place upon which to issue checks, It shoutd be an institution of helpfulness to its depositors and clients. It should be interested in seeing that they 4 are prosperous and successful in their financial adven- : tures. ' That’s Modern banking and ours is a modern bank. Any problem of finance put up to us will be carefully con- sidered and our best advice freely given. OPEN AN ACCOUNT AT CASPER’S LARGEST BANK WE’LL WELCOME YOU WYOMING NATIONAL BANK CASPER, WYOMING Safe Deposit Boxes for Rent