Casper Daily Tribune Newspaper, March 3, 1924, Page 7

APeeliaest milo — R AL 0 Vv o | Wiliam YP. Brigham, the able y ‘Washington correspondent of the = Boston Transcript. sends to his paper an: interview held with Mr. A. J. Hazlett, editor of the Oil - Index of this city, which eontains I much for eastern folks to ponder rm when they recover from their Tea al pot Dome hysteria. Mr. Hazlett is 3 eminently qualified to speak on all O phases of petroloum affairs and rf what he says of western conditions he comes from a knowledge and experi- _ ence covering many years. o ‘The Transcript interview follows: 3 “If there can be any new angie to = the oll investigation that can get c tae fump on the Lenroot-Walsh com- t mittes, here is one. It is that the west is growing alarmed over the series of destructive investigations which are being instigated by a frenzied congress and already is fearful that western progress has been threatened. Indeed, according to A. J. Hazlett, editor of the Inland Otl Index, published in Casper, Wyo. the Teapot Dome affair is Ukely to prove serious for the west and the country tn gerieral unless wise control and reason prevail. Mr. Hazlett expresses no opinion as to the question of fraud in connection with the leasing of the naval re- 1 werves but he says it {s important to the people of the entire west that they keep their feet on the ground, F retain cool heads and try to prevent the conflagration from spreading too far. “Mr. Hazlett may be regarded, If you please, as a prejudiced witness, i but he certainly {s lees so than many who have testified before the sena- torial committee; less so than any of the senators composing the com: mittee, all of whom have ict their excitement and fear run away with their judgment and sense of: fair- ness. May Lock Up West for 20 Years, “Back of much of this radical ™’ propaganda which such men as LaFollette, Lenroot and Pinchot have been spreading lies govern- ment control of ofl and other indus- tries, says Mr. Hazlett. To bring their propaganda before the public they have resorted to investigations in which they have sought to dis- credit industries by practically pre- senting only one side at issue. The editor predicts that if such men gain political control, it meana the locking up of much of our natural resources, and general stagnation in the west for the next 20 years, or until they can be unseated again, The west has tremendous areas of public lands, Mr. Hazlett points out, 1 but they are composed largely of sh or rocky wastes of little or no value, and although geologists and engineers sent out'by the gov- ernment showed, years ago, large areas of possible petroleum lands, it has taken large capital to develop our natural resources even with the obstacles of tack of transportation, crude and unsatisfactory land laws -* and unsettled governmental policies removed. Oil Millions Building Cities. “This has been particularly true of the petroleum indust: In re- cent years many millions of dollars have been spent in California, Wyo- ming, Montana, Colorado and other western states by some of the more important of] companies. Through ® combination of capital, technical skill, nerve, persistence, resourceful- ness, organization and a knowledge of world oil conditions these major oil interests have created tangible, taxable property from hidden wealth under a barren surface. But for this development Casper would be only a whistling station, Mr. Haz- lett declares, where today it is a prosperous community boasting probably the most complete and eco- nomical refinery in the whole world. Development of this character !s threatened more and more through what Mr. Hazlett terms the dis- astrous, destructive craze for inves: tigation now abroad in congress. How Best to Punish Sinclair. “Again quoting this prejuiced wit- ness, if you please, Mr. Hazlett says that the actual drilling of the naval ™ reserves in Wyoming and California, regardless of how the contracts were entered into, would appear to have been for the best interests of the prt 2 Fo. 1 .\ FO! | Hatfield Drilling Resumed. Drilling of Hatfield well No, 2 on Fight Mile Lake structure south of Rawlins was resumed Thursday of last week, ending a shutdown of several months, Guernsey Tests Promised. A deep test of the Guernsey struc- ture in Platte county will probably be started this spring by the Platte River: Development association. It is said that two wells will be drilled, | one om the north end of the struc: ture and the other on the south. Rig timbers have~beén ordered. Oil Geologists Mecting. The ninth annual meeting of the American Association of Petroleum Geologists will be held at Houston, Texas, March 27, 28 and 29. Head: quarters will be established at the Rice hotel. od Medicine Bow Test. Drilling ahead slowly, the Med!- cine Bé&v deep test is now down 4.485 feet. The Muddy sand has not yet been topped and it is thought that original geological esti- mates of formations in this struc: ture are wrong. Market Gossip . _ On Operations in Oil Fields “~~ Casper Editor In Interview In Washington Gives Views - Of West On Teapot Scandal west and the country at large. ‘While the value of Teapot Dome as an oil field bas proved a keen dis- appointment, it is estimated that by reason of the contract to Sinclair more than $40,000,000 has been ex- pended, approximately one half of which as been paid out for develop- ment work in Wyoming. The editor shrewdly quotes the common remark in Casper that if the government really and truly desires to punish Sinclair the worst thing !t could do to him would be to insist that he go ahead and oe his contract. As a matter of » he says, the major trunk Ine affording an out- let to the Gulf of Mexico or the Atlantic seaboard is the most con- Structive single undertaking for the benefit of the ofl industry that has ever taken place in the Rocky Mountain region. It affords the pro- ducer a wider market for his oil, and the 12,000,000 or 15,000,000 barrels of steel storage affords the means of carrying the ol! and taking it out of the market in times of depression. Oil for a Thousand Years. Mr. Hazlett continues: “Conserva- tion of natural resources does not mean locking them up for future generations it means the prevention of their waste. The world’s supply of petroleum will last longer than any of us now living. In fact, our navy or our industries will not lack for petroleum or its substitute of shale in 1,000 years or more, for there are billions upon billions of barrels of shale oil to carry on with long after the exhaustion of rock or well oil. If our federal oi! lands are locked against develop- ment it will mean losses of millions to-state and federal governments from ofl and gas royalties. This would eripple our schools, reclama- ton service, public highways and would mean the holding back in- definitely of the present prospective development of the west.’”’ What Is Frightening the West. This-is the spectre which already 1s arising out of the ofl investiga- tion to frighten the west, and when it looms up large and clear enough {t may be discovered that the west: ern senators, who have been so gaily assassinating the character of American citizens without regard for facts will find that they have made a gigantic mistake. It would seem as if the Republican leader. ship must have sensed this and allowed them to go blundering on, otherwise 6ne would be stumped to find an excuse for the lack of fight which the Republicans have shown in the face of Democratic assaults, most of which could easily have been parried and turned back upon the assatlants had they shown half the cottrage that even poor old Daugherty is showing now that the character assassins have attacked him. Mr, Daugherty ought to have resigned long ago but he would be a craven to resign now, when specific charges have been made against him without one shadow of proof either advanced or ayailable to back them up. Committee Going on Defensive. Time after time has controverting evidence and evidence that would strike the Democratic leaders dumb with terror been presented to Chair- man Lenroot of the investigating committee, but ‘he has rejected it and allowed Walsh of Montana to run away with the whole investiga- tion. In the course of his speeches in the senate he has made admis, sions upon points which only the courts can decide, and with the strong presumption that the courts would not agree with him. He would not have called Frank A. Vanderlip to refute the atrocious slander upon the dead Harding had he not been prodded Into it by some of his colleagues. Even evidence transmitted from the highest offi- cial quarters to members of the investigating committees has re- mained unused. Now the tide is turning and the committee is slow- ly bot surely being placed on the defensive. It must account to the country for the ruthless slanders which it hag been broadcasting. and before the affair is over several of- ficial records bid fair to be bared which so far the committee has suc- ceeded in concealing. and Briefs Billy Creek Report. At a depth of 4,145 feet the deep test of the Billy Creek structure in Johnson county is drilling for the objective sand expected at around 4,190 feet, Cisco Dome Test. Test of the Cisco dome in Utah is contemplated by the Midwest Re- fining company and the Utah Oil Refining company. All the acreage on this structure which is near one that has some small production, is controlled by the Midwest. It is reported from Salt Lake City that the Utah's rig on the Woodside structure is belng dismantled and moved to Cisco, Union Gets Lease. Land holdings of the Union Pa- cific railroad in Adams county, Colo., have been leased to the Union Oll company of California. The leases cover alternate sections on either side of the right of way for a distance of 25 miles. pea Roa Se ta The pneumatic tire was invented by a Scotch engineer, Robert W. Thompson, in 1844, New York Stocks Last Sale (By Wilson, Cranmer & Company.) Anaconda Copper -—-—---. 35 Atchison --..... nd Atl, Guif and W. Indies .. 16% Baldwin Locomotive ---—-- 122 Baltimore and Ohio ----.... 56 Bethlehem Stee! -----__-_ 56% California Petroleum 24% iM Central Cerro de Pasco Copper ---.. Chandler Motors — Chesapeake and Ohio ---..- Chicago and Northwestern Chicago, Mil., & St, Paul, pfd Chicago, R. I, and Pac Chile Copper Chino Copper Corn Products Cuba Cane Sugar pfd Erie Famous Players Lasky - General Asphalt ~—-~.-. General P'ectric - General Motors Great Northern pfd. --. Gut States Steel Tilincls Central Inspiration Copper Internation Harvester Tnt, Mer. Marine pfd. International Paper Invincible Oil ~~ Kelly Springfield Tire Kennecott Copper ---------. 37% Lima Locomotive -—--—---. 65% Louisville anQ Nashville .... Mack Truck Mar‘and Oil Middle Siates Oi! Missouri,.Kan and Texas new Minsourl Pacific pfd ‘New York Central Sinclair Con Ol -~—-.-~-.. Southern Pacific ----—----- 86% Souther) Raflway ——. 49% Standard Ol! of N, J. -------- 38% Studebaker Corporation ‘Transcontinental Oil Union ‘Pacific Colorado Fuel and Iron U. 8. Ind, Aleohot ewe (75 United States Rubber - 38% United States Steel ~ 102% Utah Copper ------ - 67 Westinghouse Electric - 68% Willys Overland —--~. - 11% Amer. Zinc, Lead and Sm..-- 9% Butte and Superior —-. - 18% Big Indian -.-------- Boston Wyoming Buck Creek ...--. 20 Burke ---.----------- 28 Blackstone Salt Creek- .25. Chappell --..-~. Columbine Central Pipe. Li 5 Consolidated Royal! . 1.2 Cow Gulch .-.-.----4- 03 04 Domine - wnn-seerse-- 109 10 Elkhorn « o--0-0e~. E. T. Williams ..... Fargo Frantz . Gates - Jupiter - Kinney Coastal ...--. Lance Creek Royalty Marine ---.---------- 3.50 3.75 Mike Henry ---------- 00% 01 Mountain & Gulf ---- 145 1.50 New York Ol] --.----12.00 13.00 Pleardy 05 rn Preston --a-ccan--nem 00% .01% Red Bank ----~-----12.00 13,00 Royalty & Producers . .09 — .09% Sunset . -ne-w-enee- 01% «02 Tom Bell Royalty .--- 02.03 Western Explaration- 3.60 3.80 Wyo. Kans --—-..--. 75 .80 Western States ---. 20 22 > Aoi «1 fern Eee 6 if NEW YORE CURB CLOSING Bi Ask 18.25 40 22.00 8.50 13,00 61.50 POTATOES CHICAGO, March 3.—Potatoes— Trading slow; market dull; receipts, 96 cars; total U. S. shipments Satur- day, 1,014; Sunday, 42; Wisconsin sacked round whites, $1.15@1.35; dusties, $1.35@1.40; bulk round whites, $1.25@1.50; Minnesota and North Dakota ked Red River Ohias, $1.40@1.55; few, $1.60; Idaho sacked Russets, $2.25@2.35. —_— Mountain Producers - Glenrock Oil The largest iron mine in the Unit- Anglo Buckeye 10 «70% Continental ---....... 47 48% Cumberland -.--—---. 137 140 Galena 63 64 Miinots 143145 Indiana -—-——----... 934 1% Nat. Tran. -—---.-. 22 23 N.Y. Tran ~--—...-. 80 82 Nor. Pipe ene 103 108 Ohio OU ~~. m1 cid Prairie Oil ----..- 330 231 Prairie Pipe -—~-.--- 104 105 Golar Ref. ~-......... 208 213 Sou. Pipe .....-..-.. 91% 93 8 O. Kan. 44% 45% 8. 0. Ky. -<---e 10 118 8. 0. Neb. -.....--.. 383 234 BO. WN, Me a 4k 8. O. Ohio --..-.-. 323 324 Vacuum -------...-... 64 645 8. P. Ol —-----— 159 160 S. 0. Ind. ----. 1% «61% CRUDE MARKET Osage Grass Creek, light --.---.. Greybull — .~..----weennenenn-- Elk Basin ----------.----.--- Pilot Butto Lander LIVESTOCK . Chicago Prices. CHICAGO, March 3.—(U. 8. De- partment of Agriculture:)}—Hogs— Receipts, 60,000; slow; mostly 5 to 10c higher; big packers talking steady with Saturday; bulk good and choice 225 to 825 pound butchers, $7.80@7.35; top, $7.40; bulk desirable 160 to 190 pound averages, $7.10 to bulk packing sows, $6.25 to .50; killing pigs, unchanged; de- sirable gtrong weight, mostly $5.75 to $6.25; heavyweight, $7.20 to $7.40; medium weight, $7.15 to $7.35; light weight, $6.5 to $7.30; light light, $6.00 to $7.20; packing sows, smooth, $6.40 to $6.80; packing sows, rough, $6.15 to $6.40; slaughter pigs, $4.25 to $6.25. Catt —Receipts, 20,000; beef steers and yearlings, steady to strong; spots 10 to l5c higher on better grade weighty steers and de- sirable yearlings; top matured steers, mostly on shipping account; fed steers, $8.00 to $10.25; no choice yearlings offered early; she stock, strong to 15e up; beef heifere, 25c up in spots; bulis, firm; bulk, $4.75 to $5,00; vealers, 25 to 0c lower; bulk to packers, $9.50 to $10.00; few to shippers, upward to $12.00; stock- ers and feeders, fairly active, strong to 15c higher: bulk, $5.50 to $7.25; feeder vealers buying quali- ties; meaty steers, upward to $8.50. Sheep—Receipts, 20,000; fairly ac- tive; fat lambs, steady to around lic lower;- sheep, steady; no early sales feeding lambs; bulk good and choice fat wooled lambs, early, $15.75 to $16.10; top to city butchers and to shippers, $16.35; choice clipped lambs, $13.50; good and choice fat ews $9.50 to $10.00. Omaha Quotations, OMAHA, Neb., March 3.—(U. 8. Department of Agriculture.)—Hogs Receipts, 14,000; market 5 to 10c higher; mostly 10c higher; bulk 220 to.300 pound butchers, $6.90@7.05; tob, $7.10; desirable 130 to 210 pound weights, $6.70@6.90; plainer grades of best weights and light lights, 86.256, packing sows, mostly $6.35@6. fayerage cost Saturday, $6.76; weight, 238, Cattle—Receipts, 9.000; beef steers and yearlings, moderately active, strong to 10c higher; killing quality, plain; top weighty steers, $10.25; bulk steers and yearlings, $7.65@ 9,00; other killing classes, steady; stockers and feeders, strong; bulk butcher cows, $4.00@5.50; fed hoif- ers, $4.75@6.50; canners and cutters, 2.35@3.50; bologna ovulls, $4.00@ 4.60;.vealers to packers, $9.50@10.00; outsiders paying upward to $10.25; INWALLSTR Opening of Bonus Hearing Has Effect on Prices of Many Shares NEW YORK, March 3.—Stock Prices developed a reactionary tone in today's relatively quiet sesston. Recelvership proceedings against the Virginia-Carolina Chemical company and the opening of bonus heerings before the house ways and means committee encouraged professional bear selling. Sales approximately 800,000 shares. Mixed movements prevailed at the opening of today’s stock market with the larger proportion of the changes tending downward. Some of the speculative favorites, includ ing Baldwin, Studebaker, Cuba Cane Sugar preferred and Houston Ot} Were off around a point. Various industrials became active in the later trading with the move- ment continuing to lack uniformity. Coppers and motors were inclined to move up, while rubber and steels sagged. WU. 8, Cast Iron Pipe was pushed up 2% and Fisher Body 3\% Points. DuPont, Chandler. Mack Truck and Market Sreet Railway prior preferred aleo gained a point or more. Increasing heaviness how- ever, was shown by U. S, Rubber, St. Louls and San Francisco pre- ferred, General Electric, Royal Dutch and Pulman which lost 1 to 2. Foreign exchanges opened steady. Taking advantage of the irregu- lar tone of the General list and the announcement that Virginia-Caro. bulk stockers and feeders, $6.25@ 7.25; top feeders, $7.85. Sheep— Receipts, 10,000; slow; rly sales killing classes, around steady; wooled lambs, $15.10@15.25; some held higher; medium ewe: $.25; feeding and shearing lambs, scarce, METALS NEW YORK, March 8.—Bar ail- ver, 64; Mexican dollars, 48%. NEW YORK, March %—Copper strong; electrolytic spot and nearby 14; futures 14@14%. Tin firm; spot and futures 56.25@ 46.60, Tron steady; number 1 northern 23.00@24.00; number 2 southern 23.00% 24.00. Lead firm; northern 22.00@23.00; number 2 spot 9.00@10.00. Zinc steady; east St. Louls spot and futures 6.75 @6.80. Antimony spot 11.25@11.6 ao LIBERTY BONDS NEW YORK, March 8.—Liberty bonds closed: 3%s, 98,20; first 4\s, 99.5; second 4%{s, 99; third 4\%s, 99.31; fourth 4%s, 09.2; U, 8. govern. ment 4s, 100.2, The chief copper producing States ed States Ja near Hibbing, Minn... gre Arizona, Michigan and-Montans, ina Chemical receivership bear op- erators subjected a wide assortment of shares to renewed pressure this forenoon. Various olls, chemicals, Sugars, rubbers and equipments were pushed lower, all of the Vir- ginia - Carolina Chemical issues breaking to new lows and that company's bond also exhibiting weakness. Davison Chemical lost 2% and several other industrials and rallroads dropped 1 to 2 points. Bul- Ush demonstrations were staged in severri issues, chiefly in the copper group, which improved on higher London prices for the metal. Call money opened at 4% per cent, Several stocks made feeble rallies when Chandler and Interborough Rapid Transit were marked up 1% points respectively, but the remain- der of the list fell steadily away. By the early afternoon many of the leading industrials and railroads were selling 2 to 4 points under Sat- urday’s final figures. The closing was heavy. Sporadic short covering took Place in the late dealings when a renewed demand arose for U. 8. Cast Iron and Pipe which advanced 2% points. ja ew Ga Foreign Exchange NEW YORK, March exchanges asier; cents: Great Britain demand 429%; ca- bles 429%; sixty day bills on banks 427%. Franco demand 4.01%; ca- 3—Foreign quotations in bles 4,11, Italy demand 4.29%; ca- bles 4.30. Belgium demand 3.59%; cables 3.60. Germany demand trillion .22. Holland demand 37. Norway 13.46; Sweden 26.11; Den- mark 15.81; Switzerland 17.31; Spain 12.46; Greece 1.66; Poland .000012; Czecho Slovakia 2.90; Jugo Slavia 1.27; Austria .0014; Rumania .52%; Argentina 34.20; Brazil 12.00; Tokio 44%; Montreal 96 25-32. Visible Grain Supply NEW YORK, March 3—The vis- ible supply of American grains the following changes in 8: Wheat, decreased 382,000. Corn, increased 3,662,000. Rye, increased 491,900, Barley, decreased 119,000. Butter and Eggs NEW YORK, March 3.—Butter— Unsettled; receipts, 8,388; creamery higher than extras, 49@49'g0; cream: ery extras, 92 score, 48@48%%4c; creamery firsts 8% to 91 score, 4615 @47%; packing stock, current make No, 2, 30c, Eges—Easy; receipts, 16,641; fresh gathered extra firsts, 2544@2! ditto, firsts, 24@25c; ditto, seconds and poorer, 23@24c; Now Jersey and other hennery whites, closely selected extras, 32@34c; state, near- by and nearby western hennery whites, firsts to extras, 26% @31 ic; nearby hennery browns extras, 29@ 83c; Pacific coast whites, extras, 324%4@32c; ditto, firsts to extra firsts, 27@30%c; refrigerator best, 21@22c. Cheese—Steady; receipts, 67,938 pounds; state whole milk fla! fresh fancy, 21% @22%40; ditto, ave: age run. 20@21c; state, whole milk flats held fancy to fancy specials, 24% @26c; ditto, average run, 24@ 24%hec. CHICAGO, March 3,—Butter— Lower; creamery extras, 47% @47%: standards, 47%; extra firsts, 46% @ 47c; firsts, 45% @460; seconds, 44%@ 48c. Eege—Lower; receipts, 22,128 cases; firsts, 22@22%c; ordinary firsts, 20@210, ————$——————— Recelvers Appointed. ‘EW YORK, March 3.—C. G, Wilson, president of the Virginia Carolina Chemical Arthur Newark, company, and Vanderbilt, a lawyer of J., today were named receivers of the company in a creditors’ sult filed in the United Btates District court for Now Jersey. Upward Trend In Early Dealings Caused By Tariff Gossip CHICAGO, March 8,—Owing to talk of an advance in the wheat tariff, an upward tendency de- veloped in the wheat market today during the early dealings. There Was a noticeable absence of selling pressure. Demand, however, lacked volume. The opening, which ranged from a shade decline to a quarter cent advance with May $1.11%% to $1.11% and July $1.11 was fol- lowed by a Httle gain all around and then something of a reaction. Corn and oats tended ty"decline. Receipts of corn here were liberal and profit taking sales on the part of holders were in evidence. After opening unchanged at %@ Sc lower, May 8114 to 814% @%ac, corn underwent a moderate general sag. Oats started unchanged to %40 off, May 4S%¢ and later weakened ae tri more. Provisions were upheld by an ad- vance in hog vatues. In subsequent trading, Septem- ber delivery sold at the highest Price yet this season. Gossip about & proposed plan to purchase bread. stuffs and other commodities in this country for Germany and Austria received considerable attention. The market closed unsettled, 4% to %@ Yo net higher. May $1.11% to $1.11% and July 1.11% to 1.11% @%. ‘The market ran Into good buying on the downturns. Closing prices Were steady, % to %@%c net lower, May 81@S1% to Sltsc. CHICAGO, March 8.—Wheat— No. 2 hard, 81.12% @1.16; No. 3 hard, $1.11@1.12. Corn—No. 3 mixed, 17% @78%ic; No. 3 yellow, 78@79%c. Oats—No. 2 white, 481% @49%c; No. 3 white, 47% @48%c. Rye—No. 2, 70%. Barley—66@ 83c. Timothy seed—$6.00@8.25. Clover seed—$18.50@ 23.60, Lard—$10.95. Ribs—$9.37. Bellies—$10.00. MINNEAPOLIS, Minn., March 3. —Wheat—Cash No. 1 Livestock : AEAGTION SEEN | WHEAT MARKET | EET) IGUNSETTLED, northern, $1.16% @1.20%; No. 1 dark northern spring: *Cholce to fancy, $1.254%@ 1.31%; good to choice, $1.20%4@ 1.23%; ordinary to good, $1.17%@ 1.20%; May, $1.16%; July, $1.17%4; September, $1.16%. Corn—No. 3 yellow, 72% @73t%4c. Oats—No. 3 white, 4414 @44 tic. Barley—57@69c, Rye—No, 2, 64%c. Flax—No. 1, 32.54% @2. CHICAGO, March 3,— Open High Low Close WHEAT: May . LLG 111% 1.11% 111% July .. 111% L120 111) 111% Sept. ---- 111% 1.12% 1114 1.11% CORD May . 81% 81 July - 81% 81% Sept. 82 81% OATS: May . 48% 4855 July .--- 46% 10% Sept. 43% 43 WAT 11.37 9.70 9.95 10.27 10.55 WASHINGTON, March 3.—Grain exports from the United States last week amounted to 1,242,000 bushels compared with 1,419,000 bushels the previous week. Commerce department figures gavo the following comparisons be- tween last week and the previous week: Barley, 80,000 bushels against 3,000; corn, 746,000 against 779,000; oats, 10,000 against 1,000; rye, 47,000 against 20,000; wheat, 359,000 against 616,000, Canadian grain exported from the United States ports amounted to 2,330,000 bushels compared with 2,- 387,000 bushels the previous week. There wre 432,000 barrels of United States and Canadian flour mixed or in combined shipments exported from the United States ports against 348,006 barrela the previous week. Wyoming Oils NEW YORK, March 3—Prices of ‘Wyoming olls at 2 p. m. today were Usted o nthe New York curb as follows: Standard Ol] Indiana 61%; Moun- tain Producers 18%; Mutual 11% New York 11%; Omar 68; Salt Creek 21%. MONEY , NEW YORK, March 3—Call money easier; high 4%; low 4%; rul- ing rate 4%; closing bid 4%: ,offer- ed at 4%; Jast loan 4%; call loans against acceptances 4%; time loans steady; mixed collateral 60-90 days 4%; months 4%; prime commer. cial paper 4%. - ———— RAIL SHOP WORK AT CAPITAL INCREASES CHEYENNE, Wyo., March 3, — The Union Pacifio rialroad com- pany Saturday put its Cheyenne shop forces back on a six-day ached. ule, after a two months period ct slack work during which the shop- men were employed only five days a | All Markets Danish Municipal fc A ~~~. Dominion of Canada, 1952 French Republic, 743 --. Japanese, is et eee Kingdom of Belgium, 83 ~-—. Kingdom of Norway 6s Rep. of Chile 89, 1946 ~. State of Queensland, 68 U. K. of G. B, and L., 64s 37 Rail American American American Te!., Anaconda Copper, 7s, ao Anaconda Copper, 68 1955 —. At. T. and San Fe, gen., 48 —-—__. Baltimore and Ohio cv., 4%s Bethlehem Steel; con., 6s, Series Canadian Pacific deb., 4s ——--. Chicago, Burlington and Quincy ref. Chicago, Mil, and St. Paul cv., 4% ~ Chile Copper 6s . joodyear Tire, 8s, 1 t Northern, 7s A Montana Power 5s A Northern Pacific ref., 6 ‘orthwestern Rell Tol., Pacific Gas and Penn, R. R. ge Sinclair Con Oil Southern Pacific cv. S. Rubber 5s = = h Power and Light 6s —. Western Union 615 .... Westinghouse Electric 7 Wilson and Company, cv SINCLAIR. GIVES OPERATIONS. OF HIS. COMPANIES (Continued from Page One) Creek field, where most of the Wyo- ming ofl is produced, were selling less than half of their available out- put and receiving sixty cents a bar- rel less than the prices paid in the Mid-Continent fields for ofl of sim- ilar qualities, The Sinclair Pipe Line company, the stock of which is owned half by the Sinclair Consolidated O11 cor- poration and half by the Standard Oll company of Indiana, operates 4,912 miles of pipe lines serving all the important fields of Kansas, Ok- oma and North and Central Tex- » and reaching from the Great Lakes to the Gulf of Mexico. An extension of this pipe line 717 miles long, reaching from Missour! to Wyoming and now almost compiet- ed, will make tho Sinclair Pipe Line system the most extensive in the world under one ownership and will create tho first direct outlet from the Wyoming fields to the markets of the world. The Wyoming ex- tension, which will have a carrying capacity of 40,000 barrels of crude oll a day will soon be in operation and will also be available by exten- sions to serve new fields which may be developed, not only in Wyoming, but also in Montana, Colorado, Ne- braska and Dakot The Sinclair Crude Oil Purchas- ing company, the stock of which ie owned half by the Sinclair Con- solidated Of1 corporation and half by the Standard Oil company of In- diana, has been and still is one of the largest buyers and seljers of crude oll in Mid-Continent fields. In view of the proposed extension of the Sinclair pipe line into Wyoming the purchasing company also ex- tended its operations in that state and up to date has purchased in the Wyoming markets more than 10,000,000 barrels of crude oi! which are now awaiting shipment to the markets that will be made access- ible by the Sinclair pipe line system. The position and activities of the Sinclair Crude Of] Purchasing com- pany are evidenced by the fact that it makes daily purchases of crude oil from more than four thousand accounts and that it now has in storage more than 42,000,000 bar- rels of crude oll, One of this com- pany’s large contracts is with the United States government and coy. ers the purchase at Mid-Continent prices or Wyoming prices, which ever are the higher, of all govern- ment royalty oil in the Salt Creek field of Wyoming, the government royalty of] is now averaging in ex- cess of 20,000 barrels daily. This contract which extends for five years from January 1, 1923, the pur- chasing company having the option of renewal for another five year per- fod is not connected in any way with the Mammoth Oil company. contract. The foregoing summarizes all of the investments and obligations of Sinclair Consolidated O11 Corpora- tion and of its subsidiary ahd af- fillated companies in connection with or arising out of the contract between the Mammoth Oi! company and the United States. SUMMARY OF NIGHT NEWS ST. LOUIS, Mo.—W. G. McAdoo in a letter to his Missouri campaign manager, denounced Senator James A Reed as a man “who resorts to the most glaring disregard for the truth in his personal attack on me” and asserted Reed is a “stalking horse" for some other candidate for the presidential nomination. MERIDA, Yucatan.—De La Huerta headquarters here made public @ bulletin announcing rekel successes and asserting the Mexican revulutionary movement daily gains strength. SAN FRANCISCO.—Captain T. J. J. See, navy astronomer at Mare Island, announced tests of promi- nent investigators shows the com- plete collapse of the Hinstein theory of relativity. SAN ANTONIO, Texas.— Mra. Bertha Horchem, member of an air circus, was killed when her plane crumpled and she fell 1,200 feet, her husband and 3,500 spectators wit- nessing the fall, CAMBRIDGE, Mass.—Francis B. Sayre, son-in-law of former Presi- dent Wilson, has been promoted from an stant to a full professor- ship at Harvard law achool, WASHINGTON.—The federal re- serve board's Februcry survey said Increased industrial and trade ac- tivity with which 1924 started con- tinues to be well maintained. HAVRE—M. T. Messelt, deputy state bank examiner and former as- sistant cashier of the Belt State bank, was arrested here on a tele- graphic warrent from Great Falls, following his indictment Saturday by the Cascade county grand jury. MIAMI, Fu Harry M. Daugh- erty, United States attorney gen- eral, joined his invalid wife here for an idefinite stay. INCOME TAX SERVICE C. H. REIMERTH Certified Public Princeton Man Wins Hurdles England, March 3.— H. Thomson, Princeton, won the 120-yard high hurdles in the finals of the Oxford university sports to- ¢ time was 8. meron also won the weight put. Accountant ting finals put of 41 feet 7 inches. 400—401 O-S Bldg. In the 220-yard hurdles he finished Phone 767 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