Casper Daily Tribune Newspaper, March 6, 1924, Page 9

he Casper Le Wi fo dered beers BEET INDUSTRY SETS CUBAN SUGAR BACK) Stocks Sanderd O7 Seas] “TORK TAENN i Bi aes Vy sare pe n Sight T By J. ©. ROYLE (Copyright 1924, Casper Tribune) NEW YORK, Murch 6.—The post- tion of Cuba in the sugar industry ig steadily becoming of less import- ance. Consumers and retailers who keep in close toych with th- market are optimistic that future price will be confined witnin a moderate range unless unexpected weather develépments disrupt conditions. ‘They are t! refined present, preferring to let the re, ners run that risk and carry the stocks. The biggest beet sugar year tn the history of the country fs in the making, according to estimates of acreages now under contract. Grow- ers that if conditions during the growing and harvesting season are even reasonably favorable the year will see a production of beet sugar not hitherto approached, Re- cords of the Colorado crop report: ing service affiliated with the de- partment of agriculture show t sugar beets were the most valuab! crop in that state last year in pro- portion to the acreage planted. An increase of acreage of at least 20 per cent fs indfcated there this year. The Great Western Sugar com- pany expects to contract this sea- son for more than 160,000 acres, the Holly Sugar corporation for 15,000 to 18,000 acres, the Independent Sugar corporation for 8,000, the American Beet Sugar company for 30,000 and the National Sugar com- pany for 6,000 acres. Equally heavy plantings are expected in Other sugar beet states. The optimism of the manufac- turers and growers is based on two factors. The first {9 the suceess which attended the invasion of east- ern market hitherto In the grip of the cane sugar refiners. in 1923 and the res int high prices which the product ylelded. The second is im- proved feeling which exists between the growers and manufacturers as a result of the 1924 contracts which have been negotiated in the inter- mountain states, in Michigan and Ohio and on the Pacific coast, These contracts in most instances are on a higher sliding scale basis than ever before has been offered beet farmers. This has promoted an ac- cord which {t {s believed will tend toward a better handling of beet ‘workers and more advantageous sale of the manufactured product. Flour KANSAS CITY, March 6.—The flour trade is reported to be better in this section than in some weeks. Supplies in the hands of bakers are wald to be getting low and some ord- ers are coming in from eastern bakers. Pig Iron PITTSBURGH, March 6.—Pig fron continues remarkably dull with few sales to show where the mar- ket stands, and little inquiry. Prices at valley furnaces are $23 for Bes- semer, $22 for basic and $23 for foundry, PHILADELPHIA, March 6.— Manufacturers of tapestries report placed by wholesalers ‘5 business smaller than that of a year ago, Retailers are buying cautiously, pre- ferring to have others carry the heavy stocks. FORT WORTH, March 6.—The demand for farm loans in this sec- tion is ofly about 70 per cent of normal, according to banks in Texas, indicating good profits from last year’s crops. ural imple- ments are in greater demand than in many years. DENVER, March 6.—Denver led all cities of the tenth federal district in building the first two months of the year. The Increase in purmits over the -first two months of last year was $624,150. ST. PAUL, March 6.—Wholesalers and jobbers in the Twin Cities are buying cautiously, being uncertain over-the spring and summer trade outlook.” Growing confidence ts. re- ported among county merchants based on gold results expected from the $10,000,000 agriqultural aredit corporation. PHILADELPHIA, March 6—A chart prenared by the Federal Re- serve Bank for the third district shows that in only silk goods, thrown silk, seamless hosiery, cot ton yarns and lightweight under- * wear, out of 39 “classifications, is demand “poor to fair." Prices are lower for cotton yarns and seamless hosiery, unchanged to lower for dry goods, fully fashioned hosiery and thrown silk, and in all others either firm or unchanged. ST. PAUL, March 6.—Rallroads of the northwest Lave just begun their 1924 maintainance and improvement programs involving expenditures of $100,000,000 and employment of 2) 000 extra men. Full forces are Steadily This Yon Ja: The effect of the industry on the financia] and business position of the country as a whole is {llustrat. ed accurately in the banking posi- tion in the Intermountain states. For exumple, the index of redis- counts und loans at the Salt Lake City branch of the Federal Reserve the larger part Eastern Nevada, shows that whereas ira 1920 these items reached a peak of $44,000,000 compared with deposits of $6,500, 000, the present total of rediscounts and loans is around $8,000,000 with deposits of $9,000,000. This im- proved condition is attributed targe- ly to the recovery of the sugar beet industry, The companies making sugar there are in a greatly improved can- dition and the farmers who planted beets have prospered. There plaints which have come in such volume from the agricultural sec: tlons devoted largely to wheat, or in which crop diversification has not been practiced, and this has been attended by reports of better trade by merchants and large sales by manufacturers and wholesalers in other sections, A deal now is “on the fire’ which ™may result in a realignment of the Sugar situation in Wyomingband California. The Holly Sugar corpora- tion of Colorado has acquired a large minority interest in the stock of the Wyoming Sugar company operating 4 plant at Worland, in the Big Horn basin, and has obtained an option on the remainder, The Great West- ern Sugar company has offered to take over’ stock and option at a profit and if the offer is accepted the Holly Corporation will abandon its plan of transferring {ts plant. at Anaheim California, to Torrington, Wyoming, where it has contracted for 8000 acres of bests this season, The Worland district would be con- Commodity Trade News BUSINESS BRIEFS scheduled to be employed by the end siderably expanded. The Great Western company con- siders the Torrington district a tri- butary to its factories in Western Nebraska, and is willing to take over the Worland plant at a profit to the Holly company provided the Torrington factory is not put in operation. As an inducement, it is said, that Great Western is willing to divert enough beets from Fillings, Montanay district to Holly plant at Sheridan to allow capacity operations there, Live Stock FORT WORTH, March 6.—Cattle and sheep thrived in the southwest this winter owing to exceptionally favorable range conditions and will be ready for market earlier than usual. The bulk of sheep will be in flt shape between May 1.and May 15. While the number of mutton sheep or wethers will be reduced, there will be a larger number of mutton sheep or wethers will be reduced, there will be a larger num- ber of ewes and lambs. KANSAS CITY, March 6,—High priced corn continues to be the dom- inant factor in the livestock trade here. Prevailing prices for fat cat- tle have not justified the farmer or feeder in feeding stock any great length of time, and as a result the percentage of unfinished and half fatted animals sold through this market in February was near a rec- ord. of April. Five roads centering in the twin cities plan to make capital expenditures of approximately $35,- 000,000 for the purchase of new equipment and rebuilding of old Em- ployment conditions thruout the northwest are reported excellent. Wholesale business has shown mark- ed improvement within the last week, PITTSBURGH, March 6.—Most of the steel mills in the Pittsburgh districts are operating at or near capacity with prospects for continu. ance of this schedule indefinitely. Mills report railroad buying of large volume and automobile manufactur. ers also are actively in the market for steel. Order&’ for tubular goods have increased and pipe is in better demand, Wholesale drygoods trade in Pittsburgh is estimated at about 12% per cent below normal. Retail trade in men’s clothing and footwear has shown some improvement. Building material 1s moving freely and hardware is in good demand with prices firm. BOSTON, March 6.—Pulication of a previously suppressed report by the state department of ‘labor and industries on the textile situation showing that certain grades of cot: ton goods can be produced 13 cents a pound more cheaply in the south, has aroused considerable comment here. The report showed that where- as wages por hour in Massachusetts are 41 cents an hour, in Virginia they average 32%, North Carolina 29%, Georgia 24, South Carolina 23 and Alabama: 21. ee notable lack of the com-| pert watch and jewelry repair ing. Casper Jewelry Co, O-S Bldg, Atl, Gulg and West Indies_. Baldwin Locometive ........ Baltimore and Ohie --... Bethlehem Steel -—..-._. California Petroleum -------. Cerro de Pasco Copper -. Chandler Motors -. Chesapeake and 0! Chicago and Northwestern —_ Chicago, Mil,, & St. Paul pfa Chicago, R. I. and Pac, ----. Chile Copper ve--.---eseenne Chino Copper -_._-.-.----. Consdifated Gas --..-----—. Corn Products ~~---.-e<----- Cosden Oil Crucible Steel layere Lasky General Asphalt ~—-..-_.. General Hlectrio General Motors Great Northerp pfd -.-.. Gulf States Stee! --..... 83 Tiiinolg Central ~-....W-— 101 Inspiration Copper ...----. 24% International Harvester ... 35% Int. Mer. Marine pfd. --.-- * 31 International Paper --.. Tnvineible on Kell Kenneooe Copper ~ Limo Locomotive wennnns Louisville and Nashville - Mack Truck ~..__.. Marland Of] ~........ Maxwell Motors -----.... Middle States O:! --..._.. Missouri, Kan. & Tex. new _ Missqur Pacific pfd, -.---. New York Central -s---—. N, Y,.N. H., and Hartford ._ Norfolk and Western --..... Northern Pacific Pacific Oil Pennsylvania People’s Gas —— Producers and Refiners .-... Pure Oil eM SN er Republic Iron and Steel .._ Sears Roebuck -.---.--_._.. Sinclair Con Of] ---..-... Southern Pac'fic -.----..... Southern Railway -—-——__ Standam Oil of N. J. ---. 38% Studebaker Corporation ..._ 102% Texas’ Co. ~-._....... 43 Texas and Paciflo -. = 26% Tcbacco Products A -—.... 89% Transcontinental Ol! .. 4% Union Pacific --.---.------ 128% U, 8, Ind. Alcohol ---- 77K United States Rubber -.. 33% United States Stoel weno = 104 Utah Copper --...---__ 67% Westinghouse Electric -... 62% Willys Overland ... American Zinc, Lead and Sm. Butte and Superior --__.__ Colorado Fuel and Iron -___ Montana Power ~-----_..._. National Lead -------___-142 Shattuck Arizona... 5%B ———___= OIL SECURITIES By Wilson Cranmer & Co. Bid Ask Bessemer . --~~....--- .25 27 Big Indian -...— 20 .22 Boston Wyoming ---. 1,00 1.10 21 TUPtEr =. nnenwenenne 00% 01 Kinney Coastal ....-. .12 13 Lance Creek Royalty - [02 02% Marine ~---.--_-_... 3,50 3.75 Mike He = 00% 01 Mountain & Gulf ---145 1.50 New York Oi! -.----10,.50 11.50 Picardy 06 3.75 80 22 xy a, NEW YORK CURB CLOSING Bid Ask Mountain Producers . 18.50 Salt Creek Prds. -.-.- 22.00 Salt Creek Cons. .... - 8.50 Prod. and Refrs. --.. 35.00 Mutual ..-... wnnwn 12.50 8. O. Indiana ---.--.. 63.12 METALS NEW YORK, March 6.—Copper steady; electfolytic spot and futures 18% @14. Tin strong; spot and nearby 57.00; futures 56.62, Tron steady; prices unchanged, Lead steady; spot 9.00@10.00. Zine quiet; Hast St. Louis spot and nearby $6.65@6.70. Antimony spot 11,50. Ses FLAX DULUTH, Minn. ing flax Mirch 2, Iuly 2.64%. March 6,—Clos- 7%; May 2.87; Nat. Tran. -—-----— 22 N.Y. Tran --2----—-- Nor, Pipe Ohio Ol a Prairie ON -—-------- Pminle Pipe ~-—-.--— Solar Ref. 43% 43% 8. 0. Ohio ----_____ 832354 Vacuum -_----___. 64% 4% 8. BP. Ol oneen-eeernne= 167% 158% 8. O, Ind. ----—------. 63% 63K CRUDE MARKET Cat Creek -—~---~----.----__$1.80 Lance Creek --~--..-------..- 1.75 1.75 1.20 Grass Creek, light ~------...- Grass Creek, beayy —- 90 Torchlight .-----..--. 3.80 Gyaybull; 7; —-wsscopesndnan hale Elk Basin ...----~ncceeeweres Rock Creek ---..--ccesccencen 1,80 1.55 Salt Creek 2-----nernnneenane 1,45 Bg Muddy ~..-~.~.-~s.cec-cce 1; sed Mule Creek ceenccsncsemencne Sunburst ~-..--------.------- Hamilton Dome ~~~. Ferris . --—----—-~---------- BYTON 2 --ennnn- noe nenee enn Notches ~...---.---.-..------= Pilot Butte Lander LIVESTOCK Prices CHICAGO, March 6,—Hogs—Re- celpts 36,000; heavy butchers steady to Be higher; others mostly Sc high- er; good and choice 200 to 300 pound butchers, $7.40@7.50; top, $7.55; de- sirable 150 to 190 pound averages, largely $7.25@7.35; bulk packing sows $6.35@6.70; kMling pigs un- changed; bulk better strong weights $5.75@6.16; heavy ght $7.35@ 7.55; medium $7.30@7.50; lightweight $7.00@7.45; ght light $6.00@7.35 packing sows smooth, $6.50@6.75 packing sows, rough, . $6.25@6.5 slaughter pigs, $4.25@6.25. Cattle—Receipts 10,000; beef steers steady to strong; spots un- evenly higher on well conditioned weighty offerings; top matured steers, $12.00; several loads $11.55@ 11.90; best yearlings, mixed steers and heifers, $11.25; bulk fed steers, $8.25@10.50; she stock and stockers and feeders firm; bulls slow; veal- ers practically steady at $9.00@10; mostly for ght and handy weight offerings to packers. Sheep—Receipts 9,000; fairly ac- tive; fat lambs around steady; sheep steady; shearing and feeding lambs steady to weak; early bulk fat wooled lambs $15@15.75; some held higher; good and choice fat ewes, $9.50@10; several decks good shearing lambs, $15.15, -Receipte, 20,000; generally steady: bulk 220 to 300 pound butchers, $7,00@7.15; desirable 180 to 210 pound weights, $6.70@7.00; plainer grades of these weights and Ught lights, $6.25@6.65; bulk packing sows, $6.35@6.50; stags out at $5.00 @6.21 weight, Cattle—Recelpts, 5,700; beef steers and yearlings, slow, steady to weak; spot 10@15 lower; top steers averag- pee 1,687 es $10.90; bulk steers id yearlings, $7.85 heifers, $5.60@7.00; canners cutters, $2.50@3.75; bologna Ua $4.25@4.60; practical veal top, bulk stockers and feeders, Pr 30@ 7.50, Sheep—Receipts, 8,500; slow; fat lambs, steady to weak; wooled lambs, $15.40@15. top, $15.65; sheep and feeders, scarce, nominal- ly steady. Denver Prices. DENVER, Cola, March 6.—{U, S. Department of agriculture.) — Hogs~-Receipts 2,400; around steady with yesterday's close, or 10c lower than begt time; few choice drive-ins up to $7.15; top load $7; few choice medium weights several loads 185 to 220 pound averages $6.85@6.90; packing sows mostly $5.75; few fat pigs $5.50. stock kind up to $5. Cattle—Receipts 400; calves 100: fat cows steady to strong; bert 1,027 pound load $5.70; other sales 5.10 down; al! other classes steady; fairly good heifers $6.50@6.25; can- ners and cutters §$2@325. good steers $8.40@8.65; plainer kind $7 @8; no choico vealers cffered; stockers $6.65 down: few feeders up to $7; stock heifers $4.50. Sheep—] its 8,500; early sales fat lambs steady; several loads at $14.85 to $15. freight paid; feeder lambs steady, few 64 pound ayer- ages $14.90 freight paid; no sheep sold early. LIBERTY BONDS NEW YORK, March 1.—Liberty bonds cloged. 3%4s, 98.24; First 4%8 98.26; Second 4%s 98.24; Third 4%s 98.26; Fourth 4s 98.27; U, S. Gov- ernment 4% 99.28, ———————— Flour MINNEAPOLIS, Minn., —Flour unchanged; Bran Match 6. 24.00, Daily Cridune Grain Bear Offerings Are Absorb- ed in Reaction to Over- Selling NEW YORK, March 6.—Stock prices displayed a strong tone in today's more active session, Offer: ings of professional bear traders were readily absorbed, Indications that a number of stocks had been oversold was seen In the rapid m ner in which they were b'd up when the forced liquidation had been com- pleted. Sales approximated 800,000 shares, NEW, YORK, March 6.—Stock Prices continued to move within a narrow trading area at the opening of today's stock market, large traders showing a. disposition to re- strict thelr commitments until after the March 15 tax payments. The genera) list displayed a relatively firm tone, Union Tank Car moving up two points. Case Threshing Ma- chine broke seven points to 53, a new 1924 low. Heavy buying of the tobaccos and low priced rails featured the early dealings, Schulte Stores climb- ing 4%, Tobaeco Products 2 and Phillip Morris, Pittsburgh and West Virginia, Frisco preferred and Mis- sour Pacific preferred a point or so. Independent strength als de- veloped in other sections of the 1: DuPont, Maxwell Motors A, Ameri- can Sugar Refining, American Hide and Leather preferred and Brook- lyn Manhattan Transit common and preferred belng among a dozen stocks to climb a point or more above yesterday's final figures. Tidewater Of dropped two points and Pacific Coast 1%. Foreign ex- changes opened steady. Heaviness of the Pan-American ssues and bear attacks against Penn Seaboard Stee! and Coca Cola, the last named dropping 2%, were used by professional traders as a screen to cover the accumulation of stock In other sections of the list. Some of the high priced specialties made good gains, Woolworth jump- ing 5% to 304, a new high. Corn *roducts climbed 3% and General lectric 3. A good buying demand also was noted for American Can, Gulf States Steel, Davison Chemical and the sugar stocks, gains of a point or more being quite common. Rails held relatively steady. Cal! money opened at 4% per cent. Spirited buying of American Woolen, J, 8, Alcohol and Ameri: can Can, tho last mentioned touch- ing 117, featured the early after- noon dealings, Advances of one to ‘our points were scored by a num- ber of relatively inactive issues, \mong which were Associated Dry Goods, Colorado Fuel and Interma- tional Harvester. Woolworth ex- tended its rise to 11% points, touch- ng 310. e The closing was strong. Active bidding up of a number of specia'- Ues featured the late dealings, 5S. S. Kress jumping 10 points and American Tobacco 4%. NOT GUILTY 15 FORBES PLEA TOU. 3, CHARGE Former Director of Vet Bureau Arraigned ' For Fraud. WASHINGTON, March 6—Charles R. Forbes, former director of the veterans bureau, pleaded not guilty today before a United States com- missioner to charges of fraud, con< spiracy and bribery handed down by a Chicago grand jury. Bond was fixed at $10,000, which Forbes immediately furnished. He will appear in federal court at Chi- cago for trial on March 17. Forbes 14 before the com- missioner ‘voluntarily with his coun- sel, James 8. Easby-Smith, who rep- resented bim in the long hearings before the senate veterans com- mittee, The government was rep- resented by Hugh A. Fisher, special assistant to the attorney general, who presented copies of the three indictments, Estimates on Physical Value Of Body Denied CANYON, Texas, March 6. —Re- Ports that Dr, C. A. Plerlo of the West ‘Texas Normal cullege, recent- ly estimated the worth of the chem- {cals In the human body at 98 cents and indicating his remarks were based on an analysis made by him were etroneous. His statements wore made in an address before one of, the literary societies of the nor- mal and the chemjcal content of the human body he gave was from an old) well known report, Dr. Pierle says. Dr. Pler‘e never made a chem- ical arfalysis of a human body and did not state he had done so, sl cnt areca For resulta try. a Tribune Clas sifled Ad. Livestock Sse ov Ses STOCK TREND. /RALLYINGORN UPWARD TODAY) FAILS TO HOLD}, All Grains Given Setback After Early Display of Strength CHICAGO, March 6.—Free seil! on the part of numerous holders took place in the corn market today following an carly bulge in prices. The selling was partly due to fore- casts of a cold wave and partly lack of demand for low grade to Te ceipts here. The close was unsettled at %c to K@%c net decline, May 80%c to 80% @8lc. CHICAGO, March 6.—Corn took an upward swing in price today dur. ing the carly doalings and imparted more or less firmness. to other grains. Bad weather conditions, likely to curta!l shipments of corn from much of Iowa and Illinois, ap: peared to be the chief bullish factor. Pit offerings of corn were scarce. After opening at advance, May 81% to &liec, Yee off to a shade the corn market scored moderate gen- eral gains. Later, largely by Indications of the market was swayed several days of cold weather which might facilitate an increased movement corn to terminal centers, Wheat was strength and by expectations tha’ of influenced by corn t a tariff raise would soon bo an- nounced, Th pening, which ranged from %s@%o off to Uo up, May $1.1 to $1.11% and July $1.11%, was 14 fol- lowed by a slight sag in some cases and then by a new rally. Subsequently, advices from W: ngton about the McNary-Haugen till led to considerable selling and to weakness of prices. The cl was unsettled, at the same as y oe e3- terday’s Qnish to %c lower, May 51.11% to $1.11% and July $1.1 to $1.11%. 1% Oats lacked aggressive support. si rting unchanged to %c higher, receded jose May 48%¢, the market somewhat. Provisions were firm in line with hog vajues, Open High Low Cl 111% 111% 1410 1 1.11% 111% 1.11% 11 1% 1% Sept. ---- 112% 1.12% 112 112% CORN: ; 81% .B1% 80% 80% 81% 82 81% 81% 81% 82% .81% 181% 48% 48% 41% ATH Ab 46% ABH 145% 43 AB 42% 42% Mhy ----11,30 11,30 11.27 11.27 July ----11.50 11,50 11.47 11.47 RIBS: May ---- 9.80 9.80 9.77 9.77 July ----10.07 10,10 10.07 10.07 BELLIES: May w-----0- enone ---- 10.40 JULY cece meee ones anne 10,72 Cash Grains and Provisions, CHICAGO, March 6.—Wheat— No, 3 red, $1.08@1.10%; No. 2 hard, $1.10%@1.14%, Corn—No, 3 mixed, 76% @78c; No, 3 yellow, 77% @78%c. Oats—No, 2 white, No. 3 white, 46% @48c. Rye—No, 2, 70%c. Barley—68@82c. ‘Timothy seed—$6.00@8.25. Clover seed—$16.50@23.50. Lard—$11.05. Ribs—$9.63. Bellies—$10.12. 47% @48 iE; Foreign Exchange cents: cables, 429%; 60 day bills on ban! 427%. France, demand cables, 3.97. cables, 4. Belgium, 3.44%; cables, 3.45. Germany, mand per trillion, .22. Holland, mand 37.19. 26.11. Denmark, land, 17.30, Spain, 12.20. 1.63. Poland, demand Czecho Slovakia, 2.89%, Slavia, 1.2¢, Rumania, .53. $4.12, Brazil, 12.15. Montréal, 21-82, ” Tokio,” 3.69: Italy, demand 4.27%; demand Great Britain, demand 429%; ks, de- de- Norway, 13.53. Sweden, Switze: Greece, 000012. Juge Austria, demand .0014. Argentina, demand 44%. : COTTON NEW YORK, March 6.—Spot cot- ton quiet; middling 29.05. ia a ee ee Butter and Eggs CHICAGO, March Higher; creamery extras standards, 46c; extra firsts, 4 45%4c; firsts, 44@44% 0; seconds 4 43%c. Eggs—Higher; receipts 6.—Butter— 45%c; 5@ 3 & 10,- 429 canes; firsts 23@23%40; ordinary firsts 21@230, SUGAR NEW YORK, March ‘6.—There were no changes in the refined Sugar situation with granulated quoted at $8.90 to 9.15. Refined futures were nomina Sugar futures closed steady; proximate sales 20,000 tons. 5.49; July 5.54; September 6.52; cei.iber 5,00, ——____. The adoption of the me tem of weights and measure Russian trades and indust be compulsory ‘before the the year, end ap- May De- eh York Bonds All Markets FOREIGN. Czechoslovak Rep. French Republic, 7 Japanene 45 -.... ot Belgium, ts Kingvom of Norway, 68 -..---------. Rep. of Chile &3, 1946... State of Queensland, U, B. of G, B. & LL, American Smelting 5s — American Sugar, 69 American Tel. ¢ol. tr., Apaconda Copper, 7s, Anaconda Cupper, 68, 1955 — At. T. & San Fe gen. 4s -,-~.... Baltimore and Ohio ev,, 4% - Bethlehem Cteel Con., 6s Series A Canadian Pacific deb 45 .... Chicago, Burlington and Quincy re! Chicago, Mil and St. Paul ev., 4ie Chile Copper Lich Goodyear Tire, 8: Great Northern Montana Power Se A -----~ Northern Pacific ref., 6s B — Northwestern Bell Tel., 75 Pac.fic Gas and Electric, 5s Penn, R. R. Gen., 5a Sinclair Con. Ol col., Southern Pacific ev, Union Pacific first U. 8, Rubber Gs - Utah Power and Light Western Union te Westinghouse E Wilson and Co. Rallway “and Misccilancous s 1938. 8 Ser oe BM - 2pm ne wwe ne. B CO ener e-——-—. H { ; { 107% 96% peddedadehial Crude Production Lower; U.S. Imports.on Increase NEW YORK, March 6.—The daily average gross crude ofl production of the United States decreased 3,500 barrels for the week ended March 4, totalling 1,884,900 barrels, accord: ing to the weekly summary of the American Petroleum institute. The daily average production east of the Pad Mountains was 1,238,800 bar- an increase of 1,750. California soeinotin as 646,100 barrels, a de- crese of 6,2 Oklahoma had a. dally average production of 402,150 barrels, de- crease of 5,95 ‘annas 69,200 bar rels, decrease of 1,150; north ‘Texas 67,500 barrels, increase of 2,400; cen- tral Texas 201,300 barrels, north Louk decrease of 750; Arkansas 121,050 barrels, increase of 1,600; Gulf Coast 97,150 barrels, increase of 2,800; eastern eastern 100.000 barrels, decrease of 2,000; Wyoming and Montana 129,650 barrels, de- crease’ of 1,000, Daily average tmports of petro- leum at principal ports for the week ended March 1 were 818,571 barrels, compared with 258,428 barrels for the previous week. Dally average receipts of California oil at Atlantic and Gulf coast ports were 193,714 barrels, compared with 189,714 for the previous week, Market Gossip and Briefs On Operations in Oil Fields Fi For Powell A newly patented tire rim lever invented by two young Cowley men is soon to be manufactured in Powell, according to present plans. Finishing Tank Work ‘The American Bridge . company has completed its contract at the Sinclair Crude Oil Purchasing com- pany tank farm at Clayton. Before long the Chicago Bridge and ‘Iron works will alos have fulfilled its contract, It Is said that it was intention of Sinclair to erect at least 70 more tanks at Clayton, but that plans to do this were stoppec when the Teapot probe became too warm. World’s Deepest Well Natural gas men and oll produ, cers everywhere will be interested in watching the latest attempt of the Hope Natural Gas company to explore the depths of West Vir ginia. The new deep well, which will go down 10,000 feet at least, is located on’ the Joseph Gordon farm on Salt Lake, one mile north of Terra Alta, West Virginia, It is out where the hills grow steep and it {s a great stroke of enter- prise on the part of Hope officials to make this unusual attempt to help West Virginia retain her place as an cl and gas producer. The Hope company now has the honor of having the deepest well in the world, a fine dry hole, which is situated near Fatrmont, West- Virginia. It took $25 actual drill- Ing days to complete the famous dry hole well, or at least to érill it to the point where the tovis stucic in the hole, 7,579 feet below the derrick. It may take as long to get down that far in the new well, although those in charge are going to speed things up, so that some Gata on deep holes will be available within a year, Western States Pro; Seven wells will be drilled during the summer on Western States Oil and Land company leases in the Salt Creek field, according to present plans, Most important of its present operations is its deep test well in Hamilton Dome, Hot Springs county. This well is expected to hit production momentarily. Ohio Plans Test, Test of the Haystack structure near Longmont, Colo., will be start- ed by the Ohfo Of! company within the next month, says a report from Longmont. If necessary, the Ohio will push this test to a depth of 6,000 feet in order to pick up the Hygiene sand. Another Mutual Deal. Acquisition by the Mutual Oj] company of 820 acres of producing leases near Tulsa leads to the bellet that the Sapulpa refining plant there may be taken over shortly by the Mutual. oO | MONEY NEW YORK, Marc money steady; high te low Pre ruling rate 4%; closing bid 4%; of- fored at 446; last loan 4%. call Joans against acceptances 4. Time. loans steady; mixed collateral 60-90 days 4%; 46 months 4%; prime com- mercial paper 4%. SILVER NEW YORK, March 6.—Bar sil ver 64 1-8; Mexican dollars 48%. ———— POTATOES . CHICAGO, March 6 Slightly stronger on y Potatoes— ites; tr easier on Early -Ohios; receipts, 55 cars; total U. S. shipments, 928; Wisconsin sacked round whites, $1.156@ bulk, $1 1,60; Minne and North D; cked Red Ohios, $1.50% Idaho pd Russets, $2.20@ ———_— Wyoming Oils. WV YoR March 6.—Prices of yoming at 2 p, m. today were Msted on New York curb follows: Standar as Creek, 22. 3) TEAPOT LEASE GRaE (6 SET, (Continued from Page One) injunction and will fix a date in the neer future for argument on mak- Ing the injunction permanent pend- ing final decision of the courts in the Gases asking annulment of the leases, federal district court of hern California, counse! believe will follow a similar course with regard to the Doheny lease and con- tract. JUDGE KENNEDY TO HEAR CAS CHEYE: Wy March 6,— Judge 7, Kenne of the United’ States court for Wyoming this mor: rsday, March for appe Atlee Pr merer nent of oll n in con- nt suit for counsel to nection w annulr com Dome naval oll res was set on tel argue mmoth the ou Teapot The date request of nd was