Casper Daily Tribune Newspaper, March 20, 1924, Page 9

OIL SECURITIES By Wilson Cranmer & Co. STOCK TRENO (GRAIN PRICES [O TRREGULAR) ARE STRONGER ‘Allied Chemical & Dye -—_ 66% rt. It came in at the rate of 5 barrels and is slated for a shot of nitro, Mountain and Gulf well No. 31-A, NE% -sec. 11-40-79, completed at Boxter Basin—Well 6X, NE 11-17-104, 3382 feet; underreaming. New Mextco—Hogback No. 7, 642 feet; drilling. up 114 but euffered a sharp reaction and heavy selling of Kelly Spring- field Tire forced that stock down 3 points to 15%, a new minimum for thy with wheat, corn rallied on re- ports of export business, After opening at %4 off to a shade advance May 77% to 77%o prices showed International Paper - Invincible Oil Kelly Springfield Tire -. Kennecott Copper - Cosden Mutual -.. 8. O. Indio: American Can -~. 115% | Bessemer 2300 (6 , . 4 "| American Car & Foundry -.. 160% | Big Indian -.. 07 = 08 a F ; American International Corp 18 | Boston Wyoming ----1.00 1.12 Development of Wellington and Fort Collins|S2ci22 imsmatiens! 07 28 | Botton woom a2 as | 3 fies - fi American Smelting and Refg. 69 | Burke -.-.---------- 27 28 |Selective Railroad Shares Buying of Corn for Export 2 : Field to Be Carried Out on Big Scale. ‘American Sugar ~----- 51% | Black Stone Salt Creek 29 30 and Specialties Score Brings About Im- Ceeetestovax Rep.. Ss ctfs -..... 85% 95% z American T. and T. 129% | Chappell - 1% 14% Gal bs A Dominion of Canada ,Ss, 1953 99% 9945 Chief G i . D 1 4 br . 145%y | Cokmmtine a2. (a3 ains provemen French Republic, 735 4 98% opist hive Been WOR Con nweene 13. | Central Five coun aioee ¥ Kingdom’ of Belgium He tamrttts Anaconda, Copper —.-..— Pbk apo crea uae a NEW YORK, March 20.—Specu:| CHICAGO, March 20—Announce-| Kingdom of Notas 0382 BEOOE, © corse oewe sei joyalty- “9 | lators for the deci ly un-| ment that considerable corn had| Rep. of Chile, §s, 19 104% 104 LOS ANGELES, Calif., March 20,—Extensive plans| ti Gute cgaiwet indies 2 Seen ee) “A, AS || vetted the tetuatrial tse. tatatiny's| Conn Derchaeed tur ampare lod te a] Binte ce Gomattina S th gt for development of Union Oil company holdings in the in Locpmotive ..--- geile ve espa - “4 stock market despite the bidding up| Price upturn today in the corn|U. K. of G. B. and I, 9 new oil field near Wellington and Fort Collins, Colorado, | Baltimore end Ohio -_._---_- ed nig bE ib Ir ar a3 | of, Selective rattroad shares and spe- sarket and ao in wheat, Ont ted ecican emotting: were made ublic here today b Cc. R. McCollom. chief Bethlehem Steel ~..-..-..-- argo powewin: p< clalties in some of which pools | indepen it strength. at closed American Sugar, 63 P y Ce ee . California Petroleum Frantz -------------- 8.50 8.75 | are operating. Sales approximated | firm at the 8 yesterday's | A terican Tel’ col. er. geologist for the company. The plans involve the | Gatea - neeenennn-mw 08410 | 1 000.000 shares, May 81.04% | American Tel. col. tr. drilling campaign yet attempted by the Union Oil outside zisper ay may rer Pal ~bess to 1.05 and July $1.06 to 1.06%. Anaconda Copper, 6 of Califernia, accordi: to Me-Collom. Lance Creek Royalty. . . NEW YORK. March 20.—Con- At. T. and San. Fe. pS aera «ce clea a ete ae MSTING =-—-ne—ee——— 8:90 8.78 | tinuation of short covering held] CHICAGO, March 20.—-Ladk of | aaltnien® and Ohio Chesapeake and Ohio ...-.-- Mike Henry -... = 00% 00% | stock prices firm at the opening of aggressive buying brought about a| Bethlehem Steel con., 6 Chicago and Northwestern .. 50 Mountain & Gulf -...1.43 145 jtoday’s market. General Electric| moderate downturn tn wheat today. | Canadian Pacific deb., Chicago, Mil., & St. Paul pra 25% | New York Oil ----.12.00 13.00 [continued its advance and Independ-| Further snowfalls in winter crop ter. | Chicago, a ington and Quincy ref., alien; Rt and Pas. Preston — ~. 1% lent Steels made further recovery |fitory tended to favor the selling Sane cone gad Bt, Favl, ov... 4% p Chile Copper .2---2-2--0- Outwost :00% | from yesterday's initial weakness, | side of the market. eddesen sive ‘aaa Chile Copper tc 15.00) Low priced railroad shares gains} It was also contended that with a Great. Northern, : Consolidated Gas +0844 | fractionally on a good demand. surplus to dispose of, little hope of | Montana Power. A : Corn Products -—-cs.-—- Sunset . ..-.-.. 02%) Speculative buying expanded {n|.more than temporary rallies could Northern Pacific ref., em — 1s Tom Bell Royalty. “04 | the ‘railroad section tn the early|be had. The opening which ranged| Northwestern Bell Tel. - 4 Crucible . ste)... 7% | Wyo. Kans .--.--_-_ 75 alings. Norfolic and Western sold| from half cent lower to Ke@%e ad-| Pactfic Gas and Electric 5s Among the four Salt Creek com-, 2,710 fegt, did 173 barrels. Salt Cube. 4 Bh Bu; < pi. 65% Western Exploration. 3.50 182 compared with 128%, yester-| Vance with May $1.04% to 1.04% | Penn RR. gen, bs - pe ma reported bP cog eighvers 3 See Mrepop ae ‘cle ser os wae 24% rors States ~- day's close. Atlantic Coast Line| and uy $1.06 to 1.06%, was fol- Se tan eel, Refining company for the past wee! NW! sec. 7-39-78, at 2, | Sal te Une a ets OMe Jumped five points and Loutaville | lowed by a general setback to below ato ° is an excellent producer having an|27 barrels. Both of the last two} famous ey Henny. ee NEW YORK CURB CLOSING |*°4 Nashville, Delaware and Lacka-| Yesterday's finish. ee ee initial output of 2,270 barrels of ofl| completions mentioned are to be] General hae ae ae? 7a Ural wanna, Pittaburgh and West Virgin-| _ Sales of 320,000 bushels of corn tol Uign panes Oe =r: dajly, This ts well No. 36-A, NW% | shot. soe ve cei - - 14% | Mountaly " ia, New Orleans, Texas and Mexico,| Scandinavia were reported subse- Weetern Union 6%s Bec, 86-40-79, Grilled tn at 1,689 feet! Other Midwest operations are ac-| General Motor ae asin | Gienrdek a a ihe and St. Paul preferred roro one, to| quently and besides there was talk | Westnichouss Bloteic on leases held by the Midwest Oil! counted for as follows: Great Northern pfd. ibe A Patios eres two points, Among the st of a decreased movement from rural | Wilson and Co., ev. és BERS TomINg — Associated’. comy|i: arise. Dome— Test Gall, 480 Seek: Sutedde’ Gorter. rots Salt. Creek Cons, America Radiator, Otis apices, Thhe| mareet. Aesea. Res, Roe brought in on|“illing in gray sandy shale, Romnivalion iObepar 334 |New York Oto Royal Dutoly 0.8. Cast Iron Pipe Bie Mo net higher, May, 78% to E 1 3 P Ano! was brough' ep 4 and General Electric moved up 1 to | 78%c. “ tha same two companies, opty ate eee ontinn Picormteee 2h corer stiieroe Ys] avrg ys 2 2'4 points. American Can bounded| Although at first easier in sympa. Western xp oration ays % a Series! Prod. y Second Dividend; Company the year. Foreign exchange {r-| Some loss all around, but then scored : Lima Locomotive -_... ‘ fractional gains. : ° : aia yl j tae Louisville and Nashville I eaceet Hee ceceosbicnes Tebatis| te NS Aa he cad ila Pros ects are Still Soarin oO LIVESTOCK agaist a wide range of industriajs,| dation was less in evidence than has x aso. e C. Ss In e e - J} forcing motor, chemical. rubber and | recently been the rule, and the mar- . / arena Saha Independent steel shares to new| ket responded to advances in corn st Bes ‘ e ates Show Big Gain in Month NEW YORK, March 20.—Gasoline stocks increased to the extent of 2,- 257,162 barrels in February, accord- ing to reports received by the Ameri- can Petroleum Institute, bedi nite] approximately 68 per cent of the operating capacity of the United States pipe ilno, tank farm crude ofl stocks of the Rockies in- creased 627,000 barrels. The daily average gross crude oll production of the United States for the week ended March 15, was 1,911,750 barrels, a decrease of 4,- 700 barrels, according to the weekly summary of the institute. The daily average production east of the Rocky Mountains was 1,25%,750 barrels, a decrease of 4,350. Call. fornia production was 654,000 bar- rela, decrease 350. Oklahoma show- ed a dally average production of 400,150 barrels, decrease 3,000, Kan- sas 69,300, decrease 400; north Texas 70,700; Increase 4,700; Cen- tral Texas 225,600, decrease 3,750; North Louisiana 60,550, decrease fifty; Arkansas 122;100, decrease 2,- 150; gulf coast 94,650, decrease 1, 050; Eastern 97,000, décrease 1,000, and Wyoming and Montana 217,700, increase 2,350. Daily average tmports of petro- leum at principal ports for the week ended March 75 were 249,000 burrels compared with $00,000 the. previous week. Dally average receipts of California off at Atlantic and Gulf Coast ports were 115,857 barrels compared with 161,000 the previous week. Time Bomb Demonstrated In Shooting Oil Wells Successful demonstration was given yesterday by J. A. Morrison of his recently invented time bomb for use in shooting oi! wells. The experimental test was performed on one of the Mutual Oll company wells at Salt Creek. The Morrison bomb is of simple construction, its parts being an In- wersoll watch, one dry cell, dynamite cap, stick of dynamite and an iron shell Following the placing of the nitro- glycerine shells in the bottom of the hole, the bomb is set and lowered. | Morrison, SENATE PROBE. DELAYED AGAIN (Continued trom Page One.) 25, bought 100 shares Mexican Petro. ~ Iuem for $16,420; July 27, bought 200 shares Mexican Seaboard for $4,- 580; August 4, sold 100 shares Mex!- can Petroleum for $16,976; August 9, bought 200 shares Sinclair Consoli- dated for $6,180; September 26, bought 800 shares Sinclair Consoli- dated for $10,282; September 29 bought 200 shares Sinclair Consoli- dated for $6,640; October 4 sold 700 shares Sinclair Consolidated for $24,- 017; October 20 bought 300 shares Sinclair Consolidated for $10,245; Oc- tober 27, bought 200 shares Sinclair Consolidated for $6,630. On December 7 there was left in the account in the oil shares 4 Mexican seaboard and 500 Sincla! Consolidated. In-his explanation of the appear- ance of the name of former Rep- resentative Ryan in his report, Bond said that the brokerage books show- ed only “T. J. Ryan,” but that the clerk at Hibbs and Company said it was “Thomas Jefferson Ryan.” A man at the federal trade commission, he said, had told him “Thomas Jef- ferson Rygn once lived on Sixteenth Street at “another time, at the Ward- man Park hotel and then at the ‘Willard. “The primary fault was with Hibbs and Company who knew who T. J. Ryan was and did not disclose it"? At the beginning of today’s session the committee heard a statement by former Representative Thomas J. Ryan of New York who testified as a voluntary witness to deny the testimony qf Louis F. Bond, com- mittee accogntant, that he had hag transactions in oil stocks, In yesterday's test at Salt Creek the bomb was set for explosion at the end of an hour and a half, At the expected time the bomb exploded in the hole in which there was a 1,- 300-foot stand of fluid. From this preliminary demonstra- tion there has arisen a great deal of enthusiasm for the invention and its features of certainty and safety. Patent on tie time bomb is pending at this time application having been filed under the names of B. T. Wi]. liams, former president of the E. T. Williams Oil company, and J. A. ‘ a “I will ask an apology from the committee” he said. “There is no ay due you,” replied Senator Walsh. “It is merely @ case of mistaken identity.” Senator Walsh added that Bond was inclined to think ‘now that he was in error. “Speaking personally,” the sena- tor continued, “I regret that this oc- curred, but such things will hap- pen.” Ryan sald that no doubt It was an shonest ‘mistake, EL PASO, Tex., March 20,— Clarence C. Chase, son-in-law of former Secretary of Interior A. B, Fall and collector of customs at the port of ElPaso, left yesterday after- noon for Washington to appear as a witness in the Teapot Dome in- vestigation, it was revealed today. Mr. Chase was subpoenaed in con- nection with alleged deposits made in the First tonal Bank of Pue- blo, of which Mr, Chase was cashier for a time, it is said. MONEY ~— NEW YORK, March 20.—Call money, easy; high, 3; low, 3; ruling ; closing bid, 3; offered at 3%; loan, 3; call loans against acceptances, 2%; time loans, easy; mixed collateral, 60-90 days, 414; 4-6 months, 414; prime commercial paper, 44 @4%. SUGAR NEW YORK, March 20.—A better inquiry was reported for refined sugar with prices unchanged at $3.40 to 8.60 for fine granulated. Refined futures were. nominal. Flour MINNEAPOLIS, March 20. Flour unchanged; sifipments 38,431 barrels. Bran 23,00, ‘Cat Creek ---. Misaduri, Kan. and Tex new. Missour! Pacflic pfd. 37% New York Central ---..-2._ 100% N. Y., N. IL, and Hartford _. 18% Norfolk and Western -- 129% Northern Pacific .. bo Pacific Of | -.-__. a--- 49% Pan Americ&n Petroleum B — 45% Pénnsylyania, - 43% People’s <----~--95%B Producers and Refiners --.-. 31% Pure OMl ate senepantie. SSUR FS Ra cia TR Republic Iron and Steel Sears Roebuck -_-. Sinclair Con OU -.-2. Southern Pacific Southern Railway ----.--. pStandard\Oll of 'N..J. -.-.. Studebaker Corporation Texas Co. Texas and Pacific ~. Union Pacific ~_--- U. 8. Ind, Aleohol ~. United States Steel --. Utah Copper ---..-. Westinghouse Electric -. Willys Overland . American Zinc, Lead & 8m. 8% Butte and Superior -----.--. 16% Colorado Fuel and Iron ..... 31% Montana Power -.-....... 62 National, Lead eerewere--- 141 Shattuck Arizona -----.--. 5% Standard Oil Stocks Bi Asked Anglo . z 17% Buckeye - --.—. 71 Continental ~~... 48 Galens —»-=---...-.--81 62% Illinois. teenn ane e142 145 Indiana ~ ----------=-92 of Nat ‘Tran, ------.---22 22% Nor. Pipe - ~---------100 102 Ohio. OlL. 69% Prairie Oil --_-.-..<-. 283 233% Prairie Pipe’. 105 Solar Ref. <. 203 Sou, Pipe ~-----------94% 954% S, O. Kan 22-41% 42% 8. O. Ky. --s--------- 109% 109% 8. O. Neb. ..2-2-=.-2.236 233 8.0. NOY. seenenenca 42% 8S. O. Ohio ~.---2-..--323 Vacuum CRUDE MARKET wen ee-------- $1.9: Lance Creek Osage ~-------.-~------------- Grass Creek Nght ------_---._ Grass Creek, heavy ~.....-... Torchlight ---..-.-- 2. ---.- Greybull '-----..------ ee, Elk Basin ..-.----.----------.. Rock; Creek . Lo eecee nen ‘Balt Creek s,s se. Big Muddy -.. Mule Sunburst ---. Hamilton Dome ----~.-.... bs SES ae NEW YORK, March 20,—Foreign exchanges, irregular. Quotations in cents; Great Britain, demand 430%; cables, 430%; 60-day bills on bank: cables, 5.18%. Italy, demand 4.30%; cables, 4.31%. Belgium, demand 4.06; cables,. 4.07. “Germany, de- mand per trillion, .22. Holland, 87.02. Norway, 13.70. Sweden, 26.38. Denmark, 15.80. Switzerland, de- mand 17.30. Spain, 12,92. Greece, 165. Poland, .000012, Czecho Slova: kia, 2.89%. Jugo Slavia, 1.22%. Austria, .0014%. Rumania, .53%. Argentina, 33.75. Brazil, 10.60. Tokio, 41%. Montreal, 97 7:32, Chicago Prices, CHICAGO, March 20.—(U. 8. De- partment of Agriculture.)—Hogs— Receipts, 42,000; fairly active; un- evenly, 5 to 10c lower than yester- day's best time, or steady to strong with the close; all interests buying, bulk good and choice 160 to 325 pound $7.50; desirable 140 Packing sows, $6.50@6.75; 6.75; heavy ‘weight hogs, 7.50; medium, $7.30@7.45; $7.00@7.40; light Nght, packing sows, smooth, Packing sows, rough, slaughter pigs, $5.00@6.75. Cattle — Receipts, 12,000; $6.65 06.8! fairly acti top matured ‘steers, $12, ous loads, $10.75 upward; grades, slow, weak to 15c lower; fat the stock, uneven, around steady; canners and cutters, steady; bulls, slow, 10 to 16c low bulk weighty bolognas; $4.65@4 veals, around steady; bulk desirable kinds to pack- ars, $9.50@10.00; selected kind to shippers, upward to $11.50 and above; Mberal proportion of light calves, $8.50@9.25; stockers and feeders, slow, demand narrow. Sheep—Receipts, 13,000; fairly ac- tive: fat and feeding lambs, steady; numer- sheep, steady to strong; bulk fat wooled lambs, $16.00@16.50; top, $16.75; good and choice clipped ambs, $14.00@14.75; choice fat ewes upward to §$11,50; choice shearing lambs, $16.00, Omaha Quotations. OMAHA, Neb., March 20,4U. 8. Department of Agriculture.)—Hogs Receipts, 21,000; market opened slow, 10 to 15c lower; close active, 5 to 10c lower; bulk 210 to 300 pound butchers, $7.00@7,10; top, $7.15; de- sirable 180 to 210 pound weights, $6.70@6.95; plainer grades of light on down to $6.50; packing sows, mostly $6.25@: ; average cost yesterday, $7. weight, 247. Cattle—Receipts, 7,200; market slow; better grades beef steers, year- ‘ings and fed she stock, steady; others, 10 to 15c lower; killing quality, largely medium to good; top steers, $10.35; bulk steers and year- lings, $8.00@9.25 bulls, 15 to c lower; other killing classes, sto ers and feeders, steady; bulk butcher cows and heifers, $4.75@ } canners and cutters, $2.50@ Practical veal top, $10.00; bologna bulls, mostly $4.25@4.35; stockera and feeders, $6.75@7.75. Sheep—Receipts, 14,000; market slow; fat wooled lambs, steady to 26c lower; early sales wooled lambs, $15.75@16.15; top, $16,25;- clipped lambs, $13.75; sheep and shearing lambs, scarce, around steady. Denver Prices. DENVER, Colo., March 20.—(U. S. Department of Agriculture.)}—Hogs —Receipts, 2,650; quality plainer; mostly steady to 10c lower; top, $7.10 pald for desirable 205 pound ayerages; others mostly $6.90 to $7.05; few loads mixed, 126 to 140 peund averages, $ to $6.00; pack ing sows, mostly $5.75, steady; few stock pigs, $5.00 to $5.25, steady. Cattle—Receipts, 1,100; calves, 100; calves, mostly 250 higher; best veal- ers, $11.50; others, generally $8.00 to $11.00; other classes, stesdy; beet steers, $8.10 to $9.25, including two light loads at $9.05; plain good cows, $4.75 to $6.00; best, $6.10 to $6:85; good 1,062 pound heifers, $7.25; few bologna bulls, $4.00; canners and cutters, $2.00 to $3.75; common Utah feeders, $740; few stockers, $7.20. Sheep—Receipts, 11,300; no trad ing on killing classes; few 85 pound shearing Iambs, $15.10, steady. COTTON NEW YORK, March 20.—Spot cotton, quiet; middling, 29.00. averages, $7.30@7.45; top, to 150 pound averages, largely $7.00@7.25; bulk killing bigs, steady to strong; bulk good and choice strong weight, $6.25@ $7.35@ light, $6.25 @7.35;. $5.40@6.60; better Srades beef steers and yearlings. around steady; early lower lows, later counteracted th: of the raflroa@ group. Speculative uneasiness over fertilizer commis. sion furnished an excuse for heavy selling of American agricultural, which yielded 3 points, and Virginia- Carolina preferred which declined 2 % to new minimum figures for the year. Selling pressure also carried Chandler, Bosch Magneto, Chalmers, U, &. Rubber, Gulf States Steel and Republic Steel to thelr lowest prices for the year. Call money opened at 3 percent, the lowest since July 1922. Marking up of several high priced shares, General Electric reaching 23144 and Woolworth 327, was at- tended by short covering in the moters, in which Studebaker, AVillys Overland preferred and Kelly Spring- field were best gainers. Subsequent heavy sélling of the steels, American Can, Baldwin, U. 8. Alcohol, and Cast Iron Pipe caused the market to run off again. United States Steel sold at 99% and Railroads re- Mnquished some of- their earlier gains, Norfolk and Western sagging to 129%. The closing was trregulai A bear drive against the steel shares in the final dealings sent U. 8. Steel common below par and forced sharp recessions in the independent issues. Kresge touched 340, a record high and leathers were in good demand. LIBERTY BONDS NEW YORK, March 20.—Liberty bonds closed: 3%s 98.30; first 4\%s 99.21; second 4\%s 99.20; third 4\%s 100.5. Fourth 4\s 99.22. U. S. gov- ernment 4%4s 100.15, Butter and Eggs CHICAGO, March 20. — Butter higher; creamery extras 46ic; standards 46; extra firsts 45% @46c; firsts 45@45%c; seconds 43% @44c. Eggs higher; receipts 14,569 cases; firsts 21% @21%c; ordinary firsts 1914 @20c. SILVER NEW YORK, Match 20. Bar sil- ver 64; Mexican dollars 48 LONDON, March 20,—Bar silver 33% pence per ounce, Money 2% per cent. METALS NEW YORK, March 20.—Copper steady; electrolytic spot and futures 18%@14. Tin strong; spot 57.25; futures 53.75@54.12. Tron steady, prices unchanged. Lead steady, spot 9.00. Zinc quiet; east unchanged. Lead steady, spot 9.00 Zinc quiet; east St. Louis spot and nearby 6.50. Antimony, spot 11.26, and oats. tr quotations on hogs. FOLLOW GRAIN MART— Open WHEAT: a--- 1.04% May hard, dark, $1.15%. Corn—No. 3 mixed, 75% @76c; No. 3 yellow, 76@77%c. Oats—No. 2 white, 47% @49%0; No. 3 white, 47@48e. Rye—No. 2, 66%4c. Barley—61@78c. Timothy seed—$6,00@8.00. Clover seed—$16.50@ 23.75. Lard—$10.87. Ribs—60 pound average, $9.60. CHANGE OF VENUE Is SECURED IN DAMAGE SUIT AGAINST CIT CHEYENNE, Wyo., March 20.— The sult of Robert P. Stapleton, ad- ministrator of the estate of Loretta Stapleton, against the City of Chey- enné, in which the administrator seeks about $220,000 damages from the elty ‘for etta. = Staplet death in an el accléent in the City-County bui will be tried in Laramie, under change of venue, beginfing March 27, Bellies—$10.25. _ Oo WOOLGROWERS TO ORGANIZE INMARKETING CHEYENNE, Wyo., March zation of a Wyoming co-operative wodlgrowers' marketing . assocla- tion which has been so successful in Montana, is to be completed in Wyoming within the next week, according to Ira T. Wight, vice president of the National Wool Warehouse & Storage company, of Chicago, with which corporation the Wyoming association will be affil- fated. The association will be or- ganized under legislation passed in 1923. The members will pool and assign their clips to the Chicago concern, with the result, it is fore- cast, that they will receive substan. tinlly higher prices than they are able to obtain through dealing with middlemen. ae HECEIVER APPOINTED BY JUDGE ADE FOR CLARK MERCANTILE CO, In an action brought by the Bank of Bartlett, of Bartlett, Iowa against the Clarke Merchantile company of Mills, Jugge R. R. Rose has signed an order appointing The Wyoming Trust company, receivers. H. G. Bizzell, vice-president of the Trust company, stated last night, that the sets Mercantile company c of $15,000.00, but that had _y been made o He t however ship could be handled in s as to protect all the credi trust company by real estate first mortgag Oats displayed firmness owing to threatened further delay to seeding in the southwest. Initial . prices which were unchanged to %@ oc higher, May 66%, were later well maintained. Provisions held steady despite low- High Low Close 78% % 19% AT 45% 42% May ~-~-11,07 11.07 11.02 11,02 JULY cnwe nose 11.27 RIBS; May 0 9.60 60 9.60 JULY nnn ewee oe 9.95 BELLIES: May - 10.35 July .. 10;67 Cash Grains and Provisions. CHICAGO, March 20.—Wheat— No. 1 hard, $1.07%@1.11%; No. 1 20] * ‘The seventh annual report of the Western Exploration company, mailed out today from the Casper offices along with the second quar- terly dividend of five cents a share, show income for the year, 1923 of $184113.47. Field operations and other expense amounted to $24,- 836.34 with a balance before deduct: ing depletion and depreciation of $159,277.13. Earnings closely ap- Proximated estimates made in the annual report made one year ago in spite of large overproduction of crude anf extremely low prices that prevailed. The company was dividend basis in December and with development under way on land in which it has substantial in- terests future prospects are of the brightest. The following statement of operations in which the company is interested is included in the re- port of the preaident, C. B, Rich: ardson: Placed on a Salt Creek Field. A great many wells were drilled during tho year on lands in which your company holds fractional roy- alty interests, and the principal revenue of the company was de rived from this field. In addition, to these royalty interests the com- pany owns a 25 per cent carried working interest in 820 acres, on which ten wells havo been drilled to date and four more wells will be drilled this year. These leasea are now all well equipped with camp buildings, ‘gathering Unes, tankage and the wells provided with stub derricks and gas engines for pump- ing, so future operations should show a very satisfactory return. 7 Billy Creek Field, During the y four gas wells have heen completed in this fleld anc a'deep well for testing the low. er sands is now drilling at. 4,205 feet. The Muddy, Dakota and La- kota sands are yet to be tested and it is belleved that they will be found to be oll bearing. The Muddy sand shou!d be reached within the next fifty feet and the other two sands about two hundred feet deep- ec, The company’s interest in this structure fs a one-sixth carried in- test in leases covering about 5,200 8. Wallace Creek Field, Wyoming. During the year. your company acquired a 25 per cent carried work- ing Interest in gf! and gas leases and permits covering approximate. ly six thousand acres of tho Wal- lace Creek structure, This property 1s located about ‘fifty miles west of Casper, Wyo. It has been given a thorough and carefully checked geological examination and is being arilled by the Mutual O!) company. It i a wel! defined, closed, light oll structure and all the objective sands will be reached within four thousand feet. The principal sand is two hundred feet thick and well saturated with oil where it out- crops on the sirface a few miles away, Materlal is now on the sround for the starting of this work a the actual drilling of the test well is expected to start within thir. ty days, depending only on weather conditions. The geological condi- tions c¥ this structure are very fa- vorable for the production of both was and ol!, Northern California. Your company acquired @ carried working interest of 18% per cent in approximately 30,000 .acres of leases on patented lands near Sites, Cal. This property was very thor- oughly examined by our geologist. favorably ‘reported upon and is now being drilled by the Mutual O11 com. pany. Tho first well is being dritied without expense to your company. A large number of ‘sands will be tested within thirty-five hundred feet, Both gas. and oil have been found th the vicinity in wells that were drilled off the strueture. The test well has landed the fifteen and @ half inch casing at 520 feet and is now drilling with a fifteen.inch hole at 600 feet, The well has beeg showing some gas for several huw dred feet and the probability of de veloping commercial production of both oil and gas in some of the low- #> sands {6 extremely favorable. Southern California. We have recently acquired a 25 per cent carried working interest in leases covering 660 acres of pat- ented land on @ very favorably lo- cated structure in what is known as “‘gusher" territory, about eleven miles from Santa Fe Springs, in Orange county, California, Within & few miles of this land numerous flelds have been developed with enormous production, This struc ture has been very carefully and thoroughly worked, was found to have a@ good closure, and has been favorably reported upon by our Own 4nG several other geologists. The property was secured by The Weetern Exp'oration company and The Consolidated Royalty Oil .com- pany and arrangements have been made to have it drilled by the Mu- tual, Oil” company, Work was ac- tually started on the ground on March 1. The first well will be free to us. There are three largely pro- ducing sands to be tested: the first @t about fifteen hundred feet, the second at twenty-six hundred feet, and the third, a sand that is four. teen hundred feet thick, and the sand that has contained most of the large production found in Southern California, will be reached at about forty-five hundred feet. The devel opment of this structure will watched with the Keenest interest as the importance to your company ean hardly be overestimated, palit ease aa POTATOES CHICAGO, March 20.—Potatoes mostly stronger on white stock steady on others; receipts 42 cars: total U. 8. shipments 791; Wiscon. sin sacked round whites’ $1.20@1.35 bulk $1,20@1.40; Minnesota North Dakota sacked $1251.40; sacked $1.10@1.20. ——S$ and Red Rivers round whites FINANCIAL STATEMENT—) TARCH 1, 1924 Cash in banks Stock of othe Ol! Property— is, leas compani alty interests, Less. Reserves for depletion and depreciation ete. $1,778,038.90 1834.35 $ 1,840, LIABILITIES. Office furniture and fixtures CURRENT LIABILITIES: being amply necured Accounts payable — CAPITAL AND SURPLU Capital stocl Authorized, $ 000 Surplus earned and paid in L $2,118.705.53