Casper Daily Tribune Newspaper, March 23, 1924, Page 9

SUNDAY, MARCH 23. 1924 Oil : Finance USINESS NORMAL IN NORTHWEST DISTRICT Business Survey of United States Completed By Statistician; Development Along Pacific to Help Entire West. BABSON PARK, Fila., March 22. Ports, is experiencing some seasonal ~—Business in the northwest aver-| unemployment: Confidence is ex- ages about even with that of the] pressed in the trend in meta] min- United States as a whole, according] ng and a slight improvement is to Roger W. Babson, the statistician, | noted in logging and lumbering in who today issued the last section|the Missoula district. The genera) of his findings on current business] tenor of the reports ts significant conditions for the United States. | of rather quiet business. Mr. Babson’s report on Canadian} “In Idsho lumbering ts reported conditions will be completed in]/on a cutailed basis in the northern about one week. section of the state. Though sea- “I Mke the Pacific Northwest,” | sonal slackening appeared, employ- says the statistician. “It is a good] ment in the railway shops has been und country inhabited by good] about normal for this time of year. and sound people. The climate is|Some resumption of metal mining, attractive yet this district has not|other than silver, in northern part been infested by pleasure seekers.|of state, afforded considerable re- Natural resources are great yet the|lief for unemployment. Though people are inclined to work rather than to exploit and speculate. “Compared with last year the ties not affected by weather are doing fairly well, conditions cannot | value of city business for this sec-| be interpreted as showing a high tion Is running as follows: Oregon | rate of activity. leads with a gain of 18 per cent; ‘Railway shop employment in Washington shows a gain of 5 per| Wyoming is reported as distinctly cent; Wyoming a loss of 16 per cent;| curtailed with expectation of ap- Idaho a loss of 19 per cent; and|proaching improvement. An exten- Montana a loss of 26 per cent. Crop] sive program of highway construc- and livestock conditions in Montana] tion is also counted upon to relieve and Wyoming, however, indicate an| unemployment. Expansion {is an- increase in trade during the current] ticipated in ofl field and refinery year. Of this group of states both/ operations, building and construc- fundamental statistics and mercan-|tion. There is probability of im- tile reports indicate that the busi-| provement in these lines; but it is ness trend is decidedly favorable in/still hard to find, as yet, any ‘Washington and Oregon. promise of a strong upward move- “In Oregon the value of the crops | ment. was somewhat above last year, but} “For the near future, then, the the gain was not so notable as in| best business opportunities in this the case of Washington. Several of | general region will undoubtedly be the Oregon cities are making a/found toward the west: However, good showing in business statistics.'do not lay so much stress on‘ the In’ Eugene, for example, business is, present and near future, that you holding materially above the corre-| shut your eyes to the inherent pos- sponding period a year ago. Port-| sibilities that will eventually be de- land also shows an encouraging| veloped in Idaho, Montana and trend. The latest government Wyoming. port on industrial conditions in this} “All of these states should benefit state mentions the customary sea-|from the great change which is renal recession In employment. This| coming in world commerce which i reported to have affected railruad|change will transfer the center of construction hetween Eugene and|trade from the Atlantic to the Pa- Klamath, high altitude logging | cific ocean. Few people realize the camps, road building and outof-|great significance of this trans- door work in general. Most indus-| formation. It will be truly revolu- tries, however, continue active, with| tionary in character. New York the possible exception of saw mills/City, now the financial center of in the sastern part of Oregon.| the western world, must give up its Official reports state that where un: | supremacy as has each of the grea employment does exist, it is causing] cities of Europe in its turn. The Uttle if any hardship. Looking] cities of the Pacific coast are to be- merely at business conditions at}come the great! cities of America Present and in the immediate fu-} California, Washington and Orégon ture, there are few indications of/are to become the richest and great activity in the rematning| busiest of our forty-eight states. states of this group, including Mon-| These Pacific coast centers ar: tana, Idaho and Wyoming. The] destined to be the clearing houser available statistics indicative of| between the wealth of America and |! business conditions in these states|the teeming millions of China, India remain at a level considerably under}and the Far East. For centuries the same period of 1923. the result will be grater than the “Montana, the government re- wildest imagination can visualize.’ Commodity Trade News Steel. make this city a big lumber mar- PITTSBURGH, March 22.—Pig} keting and distributing point. Largs: iron continues dull and it is now be-} tracts of land are being engaged for Meved that there was a consider-| storage purposes so that lumber able quantity of second quarter iron| coming here from the Pacific coast sold when the movement for the/can be stored and distributed to in- first quarter was on. Prices are/| terior points. about steady, with $28.50 quoted for bessemer, $22 for basic and $23 for WOOL. foundry. SAN ANGELO, Tex., March 22.— Very little wool is being contracted « GARY, Ind., March 22.—The Unit-| for at present and indications are ed States Steel company with 12 fur-| that growers will hold off and mar- naces in coramission at South Chi-| ket their clips through the establish- cago, three at Joliet and 10 here, hasjed commission houses. Prices so 25 out of its 27 units in this dis- far have been 40 cents a pound for trict active. eight months wool and 45 cents for wool which will have 12 months FISH. growth when sheared in April. OAKLAND, March 22.—There is in evidence a decided increase in de- __ GLASS. mand for salmon and as a result, the] WHEELING, March 22.—Demand largest salmon fleet gathered here in| for glassware for the table, decora- years is sailing this week to open| tive and home use is being maintain- the season in Alaska waters, ed at or above the figure for the corresponding period last 5 While orders are not overly plenti- ful, they are coming in at a rate satisfactory to most manufacturers. TOBACCO. DANVILLE, Va., March 22.—Con- siderably more than $8,000,000 has been paid to farmers for tobacco at Telepho: the auction warehouses here when| pogToN, March or first the market closed for the season to-| machine switching telephone central day. More than 35,000,000 pounds! office here will be put in operation were sold, the average price belng| Saturday, when 2,300 phones in the about $22.98. Liberty exchange will be transferred to automatic operation. Daily addi- LUMBER. tions will be made until 23,000 PHILADELPHIA, March 22—| phones connected with that ex- Strong efforts are being made to|change are transferred, | BUSINESS BRIEFS | BOSTON, March 22.—It is expect-,company by Henry L. Doherty ed that the compromise of the gar-| means that this concern, which sup- ment workers strike here suggested by Mayor Curley, will result in| Plies ; yea ea teee J ey bringing the trouble to an end pace Meal ah: tewmusSetesotie Shortly. The strike has lasted five eastern Kansas and Oklahoma will Weeks. Employers contended for a| HO’ eP oa sate the Kansan Netw 44 hour week and workers for a 40 | (5 merged with the Hansa peor hour “week, Mayor. Curley .8us-| natural Gam qumpeny. The Debatt Seated a 42, hour- period and the | ittura! Gas company. ecently purchased the Workers have agreed. Thé decision | TO°ren Gae cove of the manufacturers is expected omy. shortly. ST. LOUIS, March 22.—It is esti- mated that the semi-annual divi- dends which will be paid to mem- bers of building and loan associa- tions in this state this month will total over $1,820,000, Surveying and Locations be pr aed Goologists, Oil Kxperts, Oil Field For the first time, a woman re- Maps, Blue Prints cently gave an address from the pul- WYOMING MAP AND pit of the cathedral in Bristol, Eng- BLUE PRINT CO. land, P. 0. Box 325 Room 10, Daly Bldg. ‘OPEKA March 22.—The pur- T thase of the Union Public Service a Expert watch and Jewelry repair. ing. Casper Jewelry Co, O-S Bldg. American : American International American Locomotive sae =s---- 712% aueciae, ~ Anacon a Atchison AU., Gulf and W. I: Baldwin Locomotive Baltimore and Ohio Bethlehem Steel -—.....-___ California Petroleum jadian Pacific Crucible Steel ba most industrial concerns and activi. General Gulf States Steel Inspiration Copper International Harvester Int. Mer. Marine pfd. International Invinelble Oil -----. Kelly Springfield Tire Kennett Copper .. Lima Locomotive lates Oil .._... - New York Central -----~__2 Nerthern Pacifico Pan American Petroleum B Pennsylvania “ Producers and” Tetiners Republic Iron Sears Southern Pacific Southern Railway Standard Oil of N. J. ---.. Studebaker Corporation — Tobaco> Products A Transcontinental Oi! Union: Pacific 8. Ind. Ale Butte and Superior = Colorado Fuel and Iron Lead - Vacuum ~~~. .~~------- 22+ --------2------------ 1.90 Osage jrass Creek ght ---..._-. ‘jrass Creek, heavy ---..-. Torehl’'ght . -------...--------- Hamilton Dome -.-.--------- 1 wwmnene nn 1.65 woven ne —---nn-------- 1.95 Pilot Butte so |} bulk 210 to pound weights, sows, $6.40@6 Cattle—Receipts, ; fed she stock, 15@25c higher; canners and cutters, steady, vealers, 25c higher; bulls, stockers and feeders, steady; beef steers and yearlings, $8.25@9.35; butcher cows and heifers, $4.75@ cutters, $2.50@3.85; vealers, 10.00; stockers and feeders, $6.75@ ‘Sheep—Receipts, clipped lambs, $14.00; ewe: Wooled lambs, 00; $10.00@10.90; shear- ing lambs, $15.25@15.50. A remarkable situation was re- ported recently from the Shizuoka prefecture in Japan, where two or- ganizations of workers suggested to their employers that a reduction of wages be made because of the busi- ness depression. _ SEND IT To THE PEARL WHITH LAUNDRY PHONE 1703 asver @undav Tribune PAGE NINE Stocks : Grain EWS AND QUOTATIONS BY LEASED WI RAILROADS IMPROVE; INDUSTRIALS LOWER Uncertain Trend Develops in Stock Trading At Close of Week; Low Money Rates Prevail From Excess Funds. NEW YORK, March 22.—Stock J fell to 2% Der cent on large accumu- values after a firm opening today] lation of excess funds due to the resulting from the plea of President | delay of taxpayers in Coolidge for early action on the tax| checks for payments on March 15. reduction bill, developed an uncer- | 'T: and commercial paper rates tain trend and the closing was irreg-| were lower in sympathy. ular at the end of a week featured Speculative attention was drawn by @ decline in many industrials. | to foreign exchange when the franc Sales during today's short session | staged a recovery to 54% cents, rep- aggregate? 450,000 shares. resenting an increase of 50 per cent Rubber and motor shares, includ-| over the low established two weeks ‘ng Studebaker, were among thone | ago, wices for the year. Railroad shares|traders who drew their incentive Brooklyn Manhattan issues and a|was an important factor in these Market Street Railway preferred. rumored that the falling off in bu ing the week was credited to re-|into price cutting. ports of good February earnings} Heavy sales of motor issues de and expectation by speculators for| veloped on reports that stocks in the increase of favorable dividend | dealers hands were increasing and developments. ales falling off. The unfavorable Diversion of much surplus money n Wall street into investment| curtailment in automobile produc while call loans on the exchange! issues. Wall Street Labors Under Surplus of Ready Money NEW YORK, March 22. (UnitedJond Press)—Wall street was compelled|to « this week to shout loudly that it had| vestment market, with the “moncy ty lend” and evnu with the] that bonds boomed vallyhoo and unusua! inducements] reached new high ivvels. takers. Friendly banks and other| takers was of the call variety. Textile Makers Facing By J. ©. ROYLE. (Copyright, 1924, by Casper Tribune) NEW YORK, March 22.—Textile manufacturers having seen their margin of profit curtailed at’ one end by resistance to price advances are giving earnest attention to broadening those margins at the other end by reduction of produc: ‘on costs. This is especially true among makers of cotton cloths, who are facing a critical situation both n the south and New England at present. “Uncertainty of the future fn pro- duction and price fluctuations of raw cotton, together with the de- velopment of competition and spe clalization in manufacture, has made it absolutely essential that eotton mills develop and maintain the highest efficiency both in ma chinery and labor,” D. W. Holland of the executive board of the textile operating executives of Georgia, Alabama and Florida, said toda Executives, from those states have spent a large part of this week in discussion of factary practice and methods. They agree that in both ma- chinery and labor, the best is the cheapest and most economical in the long run. As a result, many plants in the south and New Eng- land are being remodeled on a more efficient basis. This has been noticeable recently in Virginia and North Carolina, where new and im- proved machinery is being installed while mills are on a curtailed pro- duction schedule. ‘The great Amoskeag mills of New England are adding woolen ma- chinery in order to take full advan- ANOTHER BUS PERMIT 9 AOKED OF STATE CHEYENNE, Wyo., March 22.— Walter Graham has applied to the Wyoming Public Service commis- sion for authorization to conduct passenger bus service between Kem. merer and Cumberland and Kem- merer and Sublette. The commis: sion will hold a hearing on the ap- plication at Rock Springs April 9 he WIFE SUES FOR PART OF HUSBAND'S PENSION CHEYE: E, Wyo., March Asserting that her husband, Charle: Stock, is drawing $150 a month from the federal government as a voca- tional student, Margaret Stock. in a Petition for divorce filed in dlstrict court here, asks that one-third of that amount be allotted to her and| that she be awarded the custody of their two children, a girl 2 years old and a boy 4 months old. prospect. SEND IT TO. THE PEARL WHITE LAUNLRY PHONE 1702, 1 drawing hat gave way today under the at-| Steel, motor and rubber issues acks of bear traders to new low|were the main targets for bear were firm in contrast, new peak|from reports of unfavorable trade arices being established by Southern | conditions. Reports in the steel in- Railway and Lackawanna, New| dustry that new business in March Oops were also chalked up for] showed a falling off from February sain of 7% points was recorded in| movements, while it was also Strength shown by railroads dur-| ness might force some steel mills rubber market and fear of channels sent bond prices higher, | tion reacted unfavorably on rubber number of them finally had yert their funds ihto the in- result Liberty bonds .s regards rates there were | few The money that went begging for It Institutions with large idle funds|is the sort of money that is used or- found themselves stiff competitors! dinarily in speculative activities on Critical Situation Said tage of the trained personnel on their peyrolls, Consolidations, which would tend to eliminate overhead charges, also have been put into effect and other mergers are in OIL SECURITIES Bessemer .. Big Indian Boston Wyoming — Buck Creek ~ Burke -. Blackstone Salt Creek Chapell Columbine Central Pipe Cow Guilen ... ‘ Consolidated Royalty. 1. Domino ‘ Elkhorn E. T. Wi Kinney Coastal! Lance Creek Ro: Marine --.. Mike Henry Mountain & 01% 01% New York w-nawnl 1.87 12,50 Picardy ... 02.08 Preston — 00% Outwest -... 00% Red Bank — Royalty & Producers. Sunset --—... 02 Tom Beli Royaity Wyo. Kans... Western FE: ploration. 3,60 Western States . 19% ee Cea 10 NEW YORK CURB CLOSING Bld Asked Mountain Producers . 18.00 Glenrock Oi! -35 Salt Creek Pras. 22.00 Salt Creek Cons 8.00 New York Oil . 11,75 Marine -..... 3.50 Prod. and Refrs. - 32.00 Cosden . 85.12 Mutual ~ 11.50 8. O, Indiana 61.37 the stock exchange and in other markets. The lending rates, quoted officially on the stock exchange at 2% per cent, went below 2 per cent in the open market, but this is be- lieved to be the final chapter tn the downward movement. The stock exchange rate was the lowest since April 24, 1918, and the direct cause of the decline was traced to the fact that the banks were loaded down with money due the government on income tax pay. ments, The government has been slow in collecting this money and the banks have been seeking to put it to work, E kers dismissed the reports that the ease In the call rates indicates a letup in commercial activity, and they pointed to the increase in bona fide commercial loans—business: money. Rates on this currency have held steady, reflecting the demand. There was a good demand among both local and interior banks for choice offerings, would rise shortly from the 2 and 3 per cent level. Within the next week or 10 days call funds should work back to around 4 per.cent, they hold. Will he or she be equipped for a useful life with a capacity to enjoy and appreciate the finer things of life? Or will the child be handicapped by a lack of education? Ambitious parents who desire to provide a college education for their children should prepare in advance to meet the college expease, Our Savings Department will provide for college expenses by easy pay- ments in a definite, systematzc way... Come in and start an account NOW. CASPER’S LARGEST BANK WYOMING NATIONAL BANK CASPER, WYOMING Pays 4% Interest On Savings : Livestock saw permanent signs of a perma As the week in the money market closed, bankers declared there was little question that call money rates : All Markets WHEAT IS GIVEN BIG SETBACK IN VALUE Com Prices Rule Higher in Chicago on Re- ports of Short Deliveries; Export Trade in Wheat at Standstill, Is Claim. CHICAGO, March 22.—Materialy] ‘The provision market was su setbacks in the value of wheat and| tained in part by reports of higher prices for corn and oats | proved inquiry in southern ma’ marked the week's trading on the} Today's range grain exchange here this week. May | vision prices follows: wheat closing at $1.05% and July at $1.06%, while May corn sold at 79%c and July at 80%c. May oats closed the week at 47Tkc. Improvement in the corn and oats market was credited with a falling off in receipts and continued delay in the seeding of oats. Bad weather was responsible in part for curtail: ment in arrivals of corn but traders ain ar Open High Low Close WHEA’ 1.04% 1.05% 1.04% 1.0545 - 1.06% 1.06% 1.05 1.06% - 1.07% 1.07% 1.06% 1.07% 78% 79% TTY 80% .79% 79% 80% = .70% 80% 48 (47% 46 45% 42% 42 nent falling ‘off in deliveries. Ex port business in corn also served to strengthen the confidence of buyers. Support was almost entirely lack- ing in the wheat market on reports that snow throughout the grain belt would be of great benefit to winter | RIBS: 00 11,05 11.00 11.02 30 11.30 11.27 11.27 wheat, Coupled with this were re-|May -. 9.03 ports that much wheat would be |July - 9.95 delivered on May contracts and that | BELLI export business was almost at a/|May ~. — a<-- 10.87 Wool Industry Prospects Bright, Survey Reveals Information of much value to, although they are especially suited those engaged in the livestock and| to produce values on its rough lands. agricultural industries 1s contained|The number of sheep on farms in In the March issue of the Bulletin|the United States on January 1, 1924 prepared by the National City Bank | Was officially estimated at 88,361,000 of New York City and broadcasted| Which compares with 27,223,000 one here through {ts correspondent, the| Year before and the high figure of Casper National Bank. Following | 61,504,000, reported by the census of are given excerpts of interest and | 1900. The production of wool in pertinence to conditions affecting | the United States in 1923 ts estimated Wyoming sheepmen: At 282,429,000 pounds, and the con- “Wool-growers in the United | sumption of this country at about States are beneficiaries of very high $00,000,000 pounds. It {fs evident protective duties on {‘mportations, | therefore that wool ts a farm pro- and have every reason to look for|duct not over-produced in this coun- prosperity for years to come. ‘The|try and affording an opportunity demand for wool is increased by the|for profitable expansion. Moreover high prices ruling for cotton goods,|the mutton product of the sheep tn- from which no early rellef is in|Gustry as well as the wool product view, Sheep may be grown, and in|!# on @ very satisfactory basis.” fact are grown, In every part of the United States, and do well in the Dakotas and other states where Te at least a partial shift from wheat- A Health Food rowing is desirable. ‘The common F Understanding is that the chiet | [pr fy.) Frail Children drawback to sheep-growing in the older states is the roving mongrel { sCOTTS . a ty-fivs vi P. a k sae Rekave nacanh. fee ‘Come, & Mi ULSION and on January 1, 1924, had 523,000 standstill. July 10,75 10.75 10. rv babe