Casper Daily Tribune Newspaper, March 30, 1924, Page 9

Che Casper Sunday Cridune PAGE NINE. SUNDAY, MARCH 30, 1924 e BUSINESS TREND TO — DECIDE: PRESIDENT Continued Prosperity or Improvement Will See - Republican Victory, Babson Says in ~ Discussion of Qu estion. ; Bonds :: Stocks : Grain a GRAIN PRICES GIVEN SETBACK LAST WEEK Ht Heavy Selling Brought to an End Saturday on Reports of Crop Damage From Storms And Overselling of Com. CHICAGO, March 29.—Wheat prices scored a slight upturn in to day's brief session of the grain ex- change at the close of a week fea- tured by extensive selling which forced both wheat and oats to new low price records of the season. To- day’s halt in bear raids was credited to storm damage in the central western states and a warning from e ‘New York Stocks . Last Sale Automobiles. ST. LOUIS, March 29.—The Moon Motor company broke all its pre- vious production records this week by turning out 100 automobiles in a day. Textiles. LAWRENCE, Mass.,- March 29.— Curtailment of New England cotton mill operations {s causing increas- ing unemployment. The condition is described as worse than in 1921. This city 1s contemplating relief by pushing municipal construction work and so is Fitchburg. BABSON PARK, Fla, March 29. —“How will the coming election ef- fect business between now and next November?" The question was to- day put to Roger Babson, business authority. ' According to the statisticlan any connection between general business and politics be likened to that of the tail the dog. He insists into New England had a depressing effect on this market. Today's range of grain and provi- sion prices follows: Open High Low Gas. MINNEAPOLIS, March 29.—Gas consumers of this city must return to the price paid for gas four 1.01% 1.00% 02% 1.02% 1.02% 1.03 1.03% 1.02% Chino Copper --..----------- case, however that T flected ection that 7 7 months yi t i 5 teen Jered i ug y els Pge which Bai ase ny Weiecet Gade Te a ithe government supervisor regard- lg ly et mianblacturtug faving oaneed a ; ane ing what ho considered as oversell- TING 16% raise to consumers of one cent i¢ents in which a political Me tak tei Gorn: 11% 176% cent a wagged the business dog are ex- ad 4 thousand cubic feet. tremely few and far between. May wheat closed at $1.01 and 45 46% L E “Election. years. are supposed. to % | July at $1.02, while May corn’ was Leather. POY ote argo dacy pear A marked up at 76 cents and July ae tee! PHILADELPHIA, March 29.— at 77% cents. : The downward procession of grain values continued throughout most of the week and was based largely on claims that the world supply was in excess of all possible needs, en- %|couraging the theory that exporters were independent of th’s country. Importations of oats from Canada iy Woolgrowers of Big Horn Basin Region in Meeting Babson, ‘ but business history shows that election years are very much like other» years, some good, some poor, and gome about average. Most of the generalization about politics affecting business are not verified by the facts. Statistics indicate rather that general business condi- tions have a marked effect upon the outcome of political issues. “If we go back to 1884, for in- stance, we find an election being held during a business panic. Fail- ures were high in both number and Mabllity, and unemployment » was general. The public was dissatisfied with business conditions. and a change seemed preferable ‘to the continuance of existing circum- stances, Grover Cleveland, Demo. crat was elected to succeed Prest- dent, Arthur a Republica: Few new orders are making their «ppearance in the sole leather mar- tet here and tanners are becoming worried. Patent leathers and jack- sabbit and airdale suede shades are in demand. Local shoe factories are running at 60 to 75 per cent of capacity. 10.80 11.05 9.47 “The World War very naturally colored the campaign of 1916 but business was enjoying war time profits were businers point of view. conditions were highly satisfactory and this sit- uation argues for a continuance for the present administration. The Democratic party was put into of- fice for another four yoars. “The post-war boom broke in Jan- uary of 1920 and that year saw a decline in commodity prices unypar- alleled in history, Business was on a toboggan and the blackest sort of 10.20 Vegetables. ELCENTRO, Cal, March 29.— Large shipments of lettuce from the mperial valley ended this’ week with more than 800 cars shipped. ‘cho remainder of the crop is expect- ed to bring the highes* prices ever recorded here. Buyers are offering $1,000 an acre for unharvested lettuce. Northern Pacific Pacific Of] -.---.-~-. Pan American Petroleum B. Pennsylvania -..-_---~---. Matters of immediate and practl- cal importance to the sheepmen of the state generally, were ably pre- ture and wool specialist of the Unl- versity of Wyoming, gave a very oil. La HOUSTON, March 29.—A further Republic Iron and Stee! Livestock : Commodity Trade News decline in the ofl production of the gulf coast and south Texas fields took place in the last week to a daily average of 95,385 barrels, The largest decline was in heavy coastal crude. Lamber. SEATTLE, March 29.—Tho first 12 weeks of this year, production at mills of the West Coast Lumber- men’s association total 1,012,457,180 feet, new business was 1,16 947 feet and shipments 1,196,072,847 feet. Livestock. 8ST. PAUL, March 29.—A 20 per cent cut in freight rates on dairy cattle in Minnesota and North and South Dakota will be effective on northwestern railroads April 15 The rates will extend for four months and are made to stimulate diversified farm production. Steel. PITTSBURGH, March 29.—Pig fron is quiet with 112 out of 140 stacks in this district in operation, Wire products are steady, Demand for old material Is somewhat better with heavy melting scrap quoted at $20 to $21. CHICAGO, March 29.—Rail orders placed in the Chicago district in the last two weeks have totaled) 30,000 tons. Must Pull Pipe Tt will be necessary for the oper- ators to pull the string of 6%-inch casing in the test being drilled on Medicine Bow structure according to word received here Saturday. This string droppec about 10 days ago. The first kink was noticed at 4,100 feet. It was thought that a swage might possibly be used to open the pipe. his idea All Markets abandoned. stands at 4, The bottom of the hole 735 feet. M. J. Foley Joins Mutual Company M. J. Foley, formerly with the Staley syndicate and at present su- pervisor of the Salt Creek Producers Conservation committee, has accept- ed a position in the development and production department of the Mutual Ol Company. Effective Tuesday the place held here by H. P. Ferree who has been transferred to Denver, is to be as- sumed by Mr. Foley. Supervision of the work of the Salt Creék Con- servation committee will continue tn the hands of Mr. Foley who has gained a notable reputation for the way he has served that group of operators as its executive. acta wintry To Erect Tankage Plans have been made by the Ohio Oil company for the erection of @ 35,000-barre! storage tank on Rex Dome. It is reported that the sec: ond well being drilled on the struc- ture by the Ohio t# now down more than 1,600 feet. CUNARD ANCHOR. LINES Rondelty f Dessbern Sane interesting talk on “Th® Wool Sit- uation Quotation: stressing the value of grading flocks and cull- ing out sheep that do not produce the best grades of wool, and outlined the value of co-operative marketing associations in the marketing of wool, Ira _T. Wright, vice president of the Wool Warehouse and Storage company, spoke on “Wool Market ing Problems,”: strongly urging the co-operative marketing of wool. He advised the meeting that the Wyo. ming Co-operative Wool Marketine “Four years later in 1888 we find genera! business’ conditions about average. Under these circumstances fundamental busincrs conditions did not affect the ~political’ situation materially and Presidesit Harrison ‘a. Republican was elected. The Democratic ity in the house, however, was maintained, In busi- ness we had an eyen balance be- tween prosperity and depression. In politics we found a similar balance between Republican and Democratic Parties. Sears Roebuck Gepreceion hag. sattied down by | sieiair Con: Of election time. Under the circum- stances it was most natural that the party in power should be voted out a that a hew administration should be voted in. President Hard: ing and a Republican congress came into office as a result. “It fs evident from this study that whenever general busines con- ditions are dec'ining or depressed whenever unemployment is a prob- lem and economis ccnditions are sented and thoroughly discussed at *he recent annual convention of the Sig Horn Basin Wool Growers as- 1% p8eciation at Cody The fact that the meeting was co- Incident to the meeting of the Forest Service officials of the Rocky Moun- tain region gave an opportunity to ‘discuss the forest range problems; and the speakers representing ‘the ‘orestry department brought out in ® very able manner the system em- p'oyed in arriving at “grazing fees.” They advised that the fees arrived U. 8. Ind, Alcohol ~-.---.--~ United States Rubber --.-.. United States Bteel -—. tah Copper -—.--... bien peuatend Electric 3 " eral; satisfactory the voters i) “The ‘sound prosperity’ of 1891 | 5¢? ly uni 7% | %t and recommended to the Depart- oclation was fi t tend to chango the administratior ‘Su -% ass In process of organ- t an ay perior ..... ~ 16° [ment of Agriculture at Washington, | ization, and wor bir te ae Note fir; Briss} regardiess of which party has been Fuel and Iron 29% | and which a ook int cetbet tion, id. would be ready about April first to finance this year’s wool crop, and outlined the work of the organization, stressing the importance of the woolgrower tak- ipg advantage of th!s co-operative Method, ‘and how advances on the Clip could he secured. Mr. Wright also gave the advantages of the growers consigning thelr wool to the National Wool warehouse and ex- Plained that each and every clip stood absolutely upon {ts own mer- its, and that the grower would get value received based on the quality of his own individual wool. The officers of the assoatation were re-elected, as follow: A. L. Pearson of Cody, president; Dave H. Taylor of Tensleep, vice President; J. M. Snyder of Lovell, secretary treasurer. Thermopolis was unanimously de- cided upon for the 1925 convention and it was voted that the executive committee of the association should determine the date of the meeting. Market Gossip and Briefs On Operations in Oil Fields ‘Test Speeding Along ‘Test of the Shelburne Dome four miles southwest of Thermopolis by the Ojl Wells syndicate is now at a depth exceeding 780 feet. By the middle of April, if no bad luck forestalls. progress, the bit should have struck the objective oll sands. in power. Whenever business is im. or is in a period of pros- perity, when employment is gocd and wages are high, the party in power. will in all. probability be maintained regarCless of its” poli- ties. “With this situation in mind we are facing the election of Novem- ber, 1924, and it is ‘rather more per tinent to ask ‘What effect will bus' ness have.on the election’ than 1 is to ask ‘How will the election af- fect business.’ The first two years of Mr. Harding’s adminirtration saw business depression. Last year we averaged at aboltt normal and this year so far business is stick- ing very closely to our average line of growth. In fact the current read- ing of the Babsonchart shows bus! neas at just three per cent above normal, “Fundamental economic condi- tions will continue to govern busi- ness,” concluded Mr. Babson, “but if you are interested in the out- come of this year’s election I com- mend a carefu! study of these fun- damental economic conditions be- tween now and next November. Any tendency toward greater pros- perity, wider employment and. in- crease of confidence will strengthen the Republican chances for re-elec- tion while any slowing up or de- cline, any increase in unemploy- inent or general unsettlement busi- nestnvise, will tend to bring about a change.” buriness men genera'ly had a feel- ing of uncertainty. damentally business was normal but the change from prosperity to normal business had very much the same. effect as depression. The decline foretold a change in administration and Gro- ver Cleveland was elected on the Democratié ticket and went Into of- fice with a Democratic congress. "The panic of 1893 sent businers into a depression that lasted throughout Clevelant’s entire sec- ond term and the election of 1896 brought in President McKinley with a Republican congress. Unsatisfac- tory business conditions and large unemployment again dictated a ‘change.* “General business improved rath- er rapidiy during thé Spanish Américan war and tho period of prosperity following it. Business was active, confidence ran high and employment was good. “In November of 1900, under the ef ces, it was natural that the Republican party be maintain- ed in office. McKinley was re-elected and went in with a Republican con- ‘money panic ¢eveloped in 1908 but was not particularly serious. By 1904, the election year, business was improving rapidly and confi- dence was again established. The sharp rise toward improvement would naturally indicate a main- tenance of the party in power. The Republicans were re-elected. RAILROAD AND OIL ‘SHARES ARE STRONG Heavy Buying of Oil Issues in Reports of Slump In Crude Production and Gain in Consumption Is Feature. tional Lead -.~---~------- 135 lent “tated ca Standard Oil until 1926, were substantially as fol- tows: Cat! fifteen to twenty-five cents, and sheep four to six and one-half cents per head per month depending upon the range. 4 J. B.* Wilson, secretary of the Wyoming Wool Growers association gave us his usual interesting and instructive talks on "Problems of ‘he Woolgrower,”" “Grazing on the ‘Publis Domain,” and “Valuation of Grazing Lands for Assessment Pur- poses." He also outlined the work of the state association jn securing ‘avorable legislation for the stock- men, and the pains-taking efforts put forth to secure same. - Mr. Wil- son concluded his talk by outlining the value of the Truth in Fabric ‘egislation, the one subject that is ‘lways uppermost in Mr. W lIson's mind, and a great deal of credit is due him for the passage of such law. Prof. J. A. Hill, dean of agricul- Bid Ask 16% 16% 70 10% ANE‘ ------------—. Buckeye «--------. Cumberland -..-~-. 1250 «187 Jontinental -------~--- 45% 46% ‘umberland ---.--.---- 125. 127 Ga’ona —----------.-.. 58% 60 OUnols 141° 143 N.Y. aceceerecee 41 41 $..0, Ohio a. a3 33" to the change. ‘The new name “Moffat" will serve to definitely do away with confusion and comes as a tribute to the late David H. Moffat, prominent Colorado pioneer and em- pire builder, Leasing Near Wheatland ‘Two parties are now active near Wheatland leasing acreage upon which tests are promised for this summer, Approximately 7,500 acres have been tied up east of the town._ Bessemer Big Indian Soston Wyomin; Buck Creek Burke --. 3lackstone ppell Solumbine ~----------= Consclidated Royalty. Lander Test Projected ‘Test of an area 30 miles from Lan- der in Fremont county, center# on the Larson ranch, is promised by P, V. Patterson who represents east- .Jern capitalists. Terms of the lease demand that drilling be started within the next six months. Casper Girls on Show at Douglas Style Fete, Said DOUGLAS, Wyo. March 29.— Four local shebas and four from Casper were on exhibition here following the style show Saturday evening. .Talk abcut beauty! It set the old town agog with joy. It was the grand climax of sciencs. struggling with nature to produce perfection, Cosmetics had been used to the Iimit, along with every New Si Arrives ‘W. W. Scott, newly appointed sup- ervisor of the Casper offices of the bureau of mines, has arrived here and is in charge. His succession to the place formerly held by C. E. Beecher was effective March 1. He comes from Houston, Tex., where 4}he held a similar position. Marine ~------------- Mike Henry Mountain & New York Oil --. Picardy .--------~----- Preston -----~------- Outwest ~------------ 00% dous. fi off to a new low record for the sea- son. Independent strength was found in the rail and ofl shares, sev- eral of which met with heavy buy- ing on expectations of dividend an- nouncements. Buying of olls was encouraged by @ decline in crude ofl production and reports of increased consump- tion. Companies with crude in stor- age profited from the advance NEW YORK, March 29.—Selling tendencies ruled in today’s exchange 1, both profit taking and a re- sumption of liquidation defeating an attempt upon speculators for the in- cregne to continue Friday's late rally. New lows were established by Bethlehem and Gulf States Steel issues, and both ofl and rubber shares shared in the decline, but for* the most part only fractional Oil Movie Today “The World Struggle for Ofl” is the name of the n-reel film, to be shown th!s noon at 12:15 o'clock at the America theater, It is be- ing shown here through the courtesy 22.25 8.25 12.28 11.12 375 22.25 60.12 amounted to about 350,000 shares. Reaction in stock trading during the week was marked by indications on the part of Wall Street to dis- count predictions of a slackening in industry and trade. Easy money rates weakened bond prices and the commodity markets were also ad. versely/affected. Heavy speculation in foreign exchange came to an end: and these values ceased to fluctuate so violently. Stiffening in money rates was brought about finally by distribu. tion of the huge surplus built up| Big Muddy -----.-----. as in ¢onnection with the income tax| Mule Creek ----------------. returns of March 16, call funds/ Sunburst --------.------.. moying up to a maximum of 5%/| Hamilton Dome -—-~---------. 1.40 per cent. Ferris . 1.65 beauty contest—Natrona or Con- verse county—that's the big ques. tion? club, The feature portrays the his- tory of ‘ofl from the time when Noah plugged tho cracks in his ante- diluvian scow with tar, down to the time of the Drake well in Penn vania, and up to the present. It is well worth secing and the attend- ance should be large, No extra ad- mission chavse 1s made, Named Moffat Field By decision of the board of 4 rec-|- tors of the Texas company at Hou ton, Tex., several days ago, the of Moffat has been given to the oil field discovered by the Texas’ com- pany south of Craig, Colo., in Jan- uary, First the field bore the name of Hamilten Donte, but because ~ 00 New York Of] ¢--..-11.75 Mutual -------------- 11.00 0 ena--n-eawe- 3.50 Prod, and Refre, -... 82.00 8S. O. Indiana ---..--- (60.00 -_—__— Encourages Small Flocks As an example of what a bank may be tn alding farmera to retrieve their farma from disaster, ts the pur- chase by the First National Bank of Thermopolls of a band of 5,000 ewes, These ewes are to be dis- tributed several hundred to the far- mer, In this way an opening to better business is afforded the small farmer, CRUDE MARKET Cat Creek ~..-----2-----------$1,95 Lance Creek > 64,000 LAMBS SOLD IN ROCK SPRINGS REGION ROCK SPRINGS, Wyo., March 29, —At a price of 10% cents a pool made up of 54,000 lambe was dis- posed of here last week, On the average, quotations are considerably ewecnnn= 1.90 Osage --- Grass Creek light Open Evening f better this year than last, Professionals took advantage of| Byron . --.. === == 1.95 See eet there was already a Hamilton Dome ——-.—_—. all unfavorable developments to] Notches ---..----------------~ © -|in Wyoming, it was dropped, Next hammer the general list, the aver-| Pilot Butte .----------------~ 1,10] For results try a Tribune Clasa}|it was called Craig field, though| Fer results try a Tribune Clas age of 20 leading industrials LARGE oemnernenewnneenncecoe fea. Suan se ‘there was"no official sanction given aq OF VITAL INTEREST To owners and prospective owners of lots in Mountain View We Have Just Let Mountain View’s Biggest New Development Contract BY WHICH ‘Mains Laid YOU of George H, Stewart, manager of losses. were chalked up against | stock prices. ‘ 17.75 |the America, and under the qus-| Patented appliance for moulding “Ne’er Do Well.” popular issues. Sales for the day PER: LAPEER 34 | pices of the Wyoming Petroleum| 224 blending. But who won the 15 Miles of Streets will be Graded and Leveled 10,500 Feet of Additional Water and Gas NEVER BEFORE Has an opportunity to own your home under ideal condi- tions—or a sound real estate investment been offered to you on easier terms, Owners of 800 Lots are enthusiastic—(Test this by just trying to buy one of their lots). With good weather con- ditions the sale of Mountain View lots will be tremen- have had the buying of a Mountain View lot in mind for some time—but putting it off is the philosophy of the DON’T DELAY ANY LONGER—Go to Mountain View today and select a lot, Those who have bought will tell you you will be satisfied, and that your investment will make you money—but do it now. Don’t delay. BAKER-GRUDE CO. 133 N. Wolcott