Casper Daily Tribune Newspaper, April 6, 1924, Page 11

in the Wvomin- Distric® stl ed a sound bond market, that Jarge gold reserves | NEW PRODUCTION UP DURING LAST MONTH Thirty New Wells Drilled in During Month in Wyoming Fields Show Greater Average Than Same Number in February. ‘With the same number of completions as in February new production of fields fe March amounted to 7,595 barrels a day as compared with 4,192 barrels from February completions. four less dry holes in March, however, new producers for the month totaling 28 while February was credited with 26. operations, the result of spring activities: mary of operations by fields also shows a considerable gain in field Rigs Total Comp Prod. Drilling Rigs Salt: Creek ~--.--.-----.-- seweeenn24 (7,045 80 138 Big Muddy ---~----—--..---..----. pare 0 8 8 Lancé Creek a twnnwenens se enn nen nennns== 0 0 5 5 Warm Springs, Grass Creek and Thermopoila 2 200 22 26 P Big Horn Basin .-------. wevececn-—= 0 9 21 24 Lost Soldier ---~------------ == 1 300 47 55 Rock River and Medicine Bow .--------. 0 0 19 20 Fremont County - 0 0 28 32 Mule Creek ~----- 0 ° 2 2 Osage . 1 30 7 17 Natrona County ---..--. 1 0 16 10 Lincoln and Uinta Counties ------.. i 2 1T 20 Baxter Basin -...-+---+.-0.----—---—---. 0 9 ,13 15 Miscellaneous . .-..-----------=-+-- ) 0 42 48 March total ~~-.-----.---------. ~-30 7,595 27 429 February total ~----.-—----------++».--30 4,192 317 407 Difference . ----------<-~---.- «+-. 0 3,403 10 22 = 23 Cat Creek 4. ana-----= 1 0 22 3 Kevin-Sunburst — aaa 1 35 aL 45 Miscellaneous .----~. tie 0 C) 102 107 March total +. 35 155 176 February total 375 151 170 Difference 340 4 5 INVESTMENT VALUES OF BONDS IMPROVE Statistician Shows Why Position Is Strengthened As Interest Rates and Commodity Prices Decline Together. ABSON PARK, Fla., April 5.— auape ‘W. Babson one of the first to pregict the recent strength in bonds y) gave his reasons for his be- lief that good bonds will continue to ‘Oh August 5, 1923 at the VWelles- ley Conference, Mr. Babson predict- arguing and the ospect for lower commodity prices amet help the {nvestor’s position. Most authorities at the time expect- ed inflation which would have shot commodity prices upward driven bonds to lower levels. sequent developments have ‘will continue. Babson, holder to any especlal degree. with a fixed terest and the cash value steady rate. tion, outstanding bonds. would drive “The twentieth century,” says Mr. “has not tavored the bond ing the twenty years between 1900 and 1920 the investor occupied the uncomfortable position of the man dollar income who .e purchasing power of his in- gees the p Pepe holdings decline at an alarmingly During these last four years a new phase has set in and bonds are again in a favorable posi- “The tremendous reserves of gold accumulated in this country argue for lower interest rates that would of course place a higher value on The danger in this surplus of money lies in the direction of possible inflation which commodity prices up and Sub- proved Mr. Babson’s contention and he now says that the strengthening process Dur- and eventually force higher money rates to the detriment of the invest or, The Federal Reserve Board is watching the situation very care- fully and there is little chance for inflation to get under way so long the Board maintaing its vigilant ttitude. of the Investor. In money rates ts under way. At this season a decline of of 1 per cent in the 60-day time noney rate, as compared with a rear ago, is a great factor in favor A gradual decline ‘Commodity prices meantime have en declining to the advantage of he investor. the week. ' Prof. Irving Fisher's rain Values Show Gain For Week Just Ended There were The following sum: index stood at 166, the first week of April 1923. On March 21, 1924 we find it at 149.2 a decline of 10 per cent. ‘The Babson Index of In- dustrial commodities declined from “184.3 to 168 or 9 per cent during the same period: This. down trend in commodity prices promises to con- tinue, “Declining commodity prices af- fect bond holders in two ways. First lower prices mean lower living costs and the real income from the investment is greater. In the sec- ond place, intBrest is really the price on money as a commodity, and lower prices eventually spell lower interest rates. This naturally helps any sécurity of fixed return, This present trend of commodities to- ward lower levels must therefore be of necessity strengthen the position of the bond holder. The intrinsic value of his securities will increase and his dollar return will buy more. “The third factor that has held| bonds back has been the unsettled| European situation. Threatened collapse with its affirmative of social revolution arid conscript: of capital naturally does not appeal to the Investor. The collapse of Central Europe has been adjusted as far as our own markets are con- cerned. The recent rescue of the franc from disintegration is dis- tinctly encouraging. It restores the confidence of the French in themselves and in American finan- clal co-operation. French business will find it difficult to carry an ad- ditional tax of 20 per cent, but this is better than national insolvency. The move has strengthened the credit situation all around. “So long as interest rates and commodity prices work down to- gethe: concluded Mr, Babson, “the bond market cannot but be helped by both factors. Should commodity prices turn up while money rates are still declining we will get some degree of inflation. Continuation of the present readjustments between the farmer and the industrial work- er will allow the bond market to re- sume its long swing toward higher values New York Stocks Last Sale Al'ied Chemical & Dye ...... American Can American International Gorp 19% American Locomotive ~..... 72% American Smelting & Refg. American Sugar American T. and T. -.. American Woolen Anaconda Copper Atchison Atl, Guit Baldwin Locomotive Baltimore and Ohio -..3. Bethlehem Steel _..W. California Petroleum -~... Canadain Pacific Consolidated Gas Corn Products -. Cosden Oil -.. Crucible Steel Cuba Cane Sugar pfd. ...... Famous Players Lasky General Asphalt General Electrio General Motors Gres Copper Harvester Marine pfd. International Paper . Kelly Springfield Tire — Kennecott Copper Lima Locomotive Mack Truck — Merland Oil Maxwe!t_ Motors e! Middle States Oll New York Central Norfolk and Western ~ 52 Northern Pacific .. 56 Pacific ON -_. 82 Pan American Petro‘eum B . 47 Producers and Refiners 23 Pure Oil 24 Republic Iron and Steel 47 Sears Reebuck -. inclair Con. Southern Pacitic Southern Railway Standard Oil of N. Che Casper Stocks AND QUOTATIONS BY LEASED OIL AND RAIL ISSUES |LEAD STOCK TRADING Sunday Critune Grain NEW YORK, April. 5.— With speculators for the advance center- ing their attention largely on the ofl and railroad shares, considerable improvement marked the close of the week's trading on the stock ex: change but some irregularity was in evidence as in days past. The improvement of the week extended to practically all issues. Today's sales amounted to approximately 500,000 shares. Reaction to the recent decline in stocks was a major factor in in- fluencing the upward trend. Pros- pects of early action on the tax re- duction bill, anticipation of dividend increases by the railroads and favor- able foreign news also played an important part {n the upturn, but % % By PAUL SPEHR % | Tho time has now come when we % | should keep our prospects open and in good shape. Copper will be in demand three times more than at any other time. Indications show | that we will soon nave copper pro- ducing mines in this state. Studebaker Corporation 94% Texas Co. 42% | When we compare our prospects Transcontine: - 5%|with the state of Montana, we are Union Pacific - ~ 131%] far ahead “in regard to surface in- U. 8. Ind. Alcohol - 70. |dications—a Montana mining man United Bintee Star et =-7-= 30% | must go trom:three hundred to five Wentinghoune “M'ectric -..--. 69% | hundred feet before he gets any Willys Overland = “gi | results: in our mining regions we Butte and Superior ---.----. 164 | Set malashite and azurite under sur- Coloraé> Fuel and Iron face, notwithstanding the fact that it will break awry, and goes into a lower grade of copper ore, which will extend no less than 100 feet. Then the formation changes, and the results are from 1 to 6 per cent. All copper mines so far worked have a percentage of from 2% per capo cent to 4 per cent, which govern- Continental ment report shows. Here we isnt ia 128 129 | !magine that we should have from Galena de 58 59 | 10 Per cent to 20 per cent, whtoh Titnola 138-141. | Wil never be discovered. ‘The ie | 9314 95 | Montana mines go 3% per cent and ay 33 | pay enormous dividends, and we \* 9 | Will find the same In our state. 99 ‘The formation of our copper pros- Ohio On ---2. 9 | pects consists of black dlalright Prairie Ol _-. 240 241. | dikes, which 1s the mother of cop- Prairie. Pipe 108% 104% | Per. We bave gold and silver pros- Solar Ref. 192 195 '| ects in the state undeveloped. The Sou Pipe Casper paper states that we only Fish. PORTLAND.—Demand from Call fornia, where foot and mouth dis ease exists among the sheep and cattle, has swept the northwes markets practically clean of fr meat. Demand has increased 100 Big Indian -. ee d 09 per cent recently and prices have Blackstone Salt Creek .29 33 advanced in consequence. Boston Wyo. ~------. 1.00 1.12 -_ Buck Creek | BL) 88 Automobiles. Chappell : orf CLEVELAND.—The Peerless com- Columbine i | pany got in production of new Cortm Roy. . co 130 | model six cylinder cars last month E. T, Willams -. 4 56 shipping one hundred. The concern Gates. ~..----- 10 12 expects to ship 800 eights and sixes Kinney Coastal 14% .15%| this month, all’of which have been Lance Creek -. Y 02 sold. Red Bank Roy. Produ: unset Western E Western States Y Ol and Gas M. 8, Phone ~~ 106.00 Cement Securities -.154,00 156,00 Amal Sugar Com. 6.12 Holly Sugar Com, 34.60 Holly Sugar Pret. 88.00 Utah ICaho Sugar 3.75 OIL SECURITIES By Wilson Cranmer & Co. Beasemer .. . é Ceneral Pipe 1.80 2.00 Cow Gulch 03 04 Domino . +08 10 Elkhorn Fargo ~~ Frantz Jupiter Marine ‘heat, ithdrawal boked upon corn and oats, of Today's range of grain and pro- sion prices follows: while mill wheat were also strong factor, one great corporation, the company calla attention to the fout of £7,000 giris employed by | new orchards coming tnto being and an expert | warns ngelnat expansion of acreage ohiropodist found that only 25 per | until ‘canning and preserving fécllt cont had perfect feet, Ues have been jmproved, Shoes. BROCKTON, Mass-—Mayor Bulli fant has called a meeting of manu- facturers and workers to discuss measures to increase shoe produc tion here. He is urging manufac turers to make kinds of shoes rather than stress quantity produc- tion of ordinary grade. Flour, MINNEAPOLIS.—The closing of two Pillsbury mills here is attri- buted to unfavorable freight rates. The abandoned plans had a capa- city of 4.750 barrels a day. The men employed have been absorbed in local mills and those at Buffalo, where the Pillsbury company has located plants to overcome freight rate adjustment in certain territory. Leather, CHICAGO.—Taners report a string tendency away from the so-called millinery colors. Shoe manufac- turers are eliminating stocks which involve the use of these faney upper CHICAGO, April 6.—Reports of Open High Low Close peti ye on rite “apep |leathers, fearing abrupt style agian goiter went Tay ee 1.08 1.08% 1.01% 1.09% | Plearay 8 oat jenn LY a--~ 1 A Af e for export to Europe and favorable July 1.08% 1.04% 1.08% 1.04% | Preston -------- 01% Lumber, goanip in connection with the Dawes | gent, ____ 1.04% 1.05% 1.04% 1.05% | Tom Bell Royalty 204 SEATTLE.—One hundred and commiseion report on German repa-| GoRN: Wyo. Kans . 80 | twenty-eight mills belonging to the rations imparted a strong tone to May ---- .78% .79% .78% 78% NEW YORK CURB CLOSING | West Coast Lumbermen's associa- today's trading in wheat, increasing | yujy |. (7914 70% .79% 70% Bid Anked| tion manufactured 97,815,443 feet of the decided upturn scored during, Sept. ... .79 119% .79 79% | Mountaln Producers . 18,50 18.75) lumber last week, sold 89,766,194 The closing was strong] 6 jing. Glenrock Ol ----.- | 35 | 38] féet and shipped 106,172,572 foot. arte Shire at $1.03% cay vs May. cc: 48g 46% 48 8K Le bate rd teas - 22.87 28.25| Production was 10 per cent above (am pM ber pred ean pare aay wee 44 prt ae ae New York Oil +22 . 00} normal, } Fc, : opt. nn 40% 7 ’ Mutual = excessive selling of corn and| May ~ 11.00 11.03 | Prod. Piss | dition) hiete ida large volume of anipulation by traders were seized | July - 11.02 11.25 |5. 0. SHED T cette buying, not asd te y steely bullish factors early in the week | RIBS: é trade but from outlying districts hile expectation of curtailment in ond nnn = 0,80 9.75 BEL : Fruit, which indicates {mproved buflding @ movement of corn was also i oa - ~— ATLANTA.—Tho Central of] conditions, Prices have recovered warble for the inane tie see | toga | Wsormia railway cotimaten the 1924] following a recent slump. upturn was also by de- wees meee ow o--> B peach crop along its lines at 10,000 en in the visible supply of | July -~--10.57 10.57 10,55 10.65 In a statement to farmers Electrical Equipment. poate AE Le ha das “HARTYORD.—The Hartford Bat tery company has doubled ite work: ing force (o care for incrensed de- Wyoming Copper Deposits Hold Wealth for Future General Improvement Scored During Week in Major Issues but Industrial and Some Others Fall Off Near the Close. the buying came largely from shorts who hurried to cover com- mitments and escape losses. Slackening of ‘business in some lines was shown in trade reports for the week although March ingot output reached the peak total of April, 1923, it was said. Oils were stronger on reports of a steady fall- ing off In crude production and in- dications of increased consumption this year. Industrial issues moved slowly in the latter part of the week after having been in lively demand a week ago, speculative interest be- ing diverted largely to the railroad group. The foreign exchange market was marked by further recovery in the value of the French and Belgian francs, Scratched the hills over, which is 4n absolute fact, but by dolhg so we show very good results. A pros- Pector can not go over 50 feet be- fore he needs some money and man power, and then we must scratch underneath and get no further re- sults, The gentleman who made that remark is absolutely correct, but we can do no more—only show what 1s on the surface. I have officials say there will be more idle farms in the county than at any time in FO years owing to scarcity of farm help. Rice, ELLSBERRY, Mo.—As a result of the successful experiments con- ducted last year, farmers: in this section plan to plant rice extensive- ly this season along the Mississippi bottom lands. SHREVEPORT, La.—The Smack- over, Arkansas, field is expected to have a banner produstion year from the amount of drilling now going on. Many of tho larger companies have hundreds of offset wells which they will be compelled to drill this season, Woolens, line and tell you some of the good words which have come to me re- garding the young men who drive our busses. something about their courteous consideration of their passengers. February 19. disagreeable to catch a train for ¢ was & little late and feared I would miss the bus, which event would PAGE ELEVEN. mgke me late for the train. I was a block and more away from Conwell loaded down with sult cases, bus was there, and I waa humping. The bus started out but you can imagine my agreeable surprise when I observed that the driver had seen my predica- ment and was backing to get me. I want that follow to read this and know that I appreciate it Repeatedly I hear "I well recall the morning of It was a snowy, morning eybull, Drive Out to Mountain View Suburb Today MOUNTAIN VIEW SUBURB, FOUR MINUTES FROM MIDWEST REFINERY WEBSTER, Mass.—The Webster mills of the American Woolen com- pany which have been on a cur- tailed schedule for some weeks, have resulted in full with a weaving shift working nights. CRUDE MARKET Cat Creek -. Lance Creek Osage Grass Creek light --.--. Grass Crevk, heavy --—------- Torshlight Big Muddy ---..~~. Mule Creek Sunburst Hamilton Dome --------. Ferris . -.. Byron ~ Notches ---.---.---2------0--= 65 Pilot Butte SRG Lander... Soom VAD SEDO AES ACER Structures Surveyed CHEYENNE, Wyo., April 5.—A bulletin soon to pe issued by State Geologist Alberg B, Bartlett, co ing ofl structures in the region west of the Sherman range, states that idea that in a short time, those who have any good prospects will get help, and the property will be de- veloped by those who are secking the development of this state. More copper will be used because there will be thousands of radio stations, and each small station will use six pounds of copper, with the larger ones using ten to twelve times that much. Copper ores should be treated at home—they should, at least, have a concentrator, whereby they can concentrate twenty tons into one ton of sulphite and other coppers, which then could be shipped and would reduc, the expenses of trans- portation. In regard to high grade copper ores, we have from 20 percent to 75 per cent copper, but these cop- pers are formed by and through a precipitation; those are only de- posits which are known as pocket and lenses, which break away, and you get into the old formation, and mand” for automodily and radio batteries, the lower copper ores, Commodity Trade News| sixteen that have been examined by the state Geologist are barren of petteleum, while nine others are pro- ductive or sufficently developed to indicate productiyty. The most im- portant of the latter is the Rock Creek field. The forthcoming bulletin is to. be followed by another covering the territory east of the Sherman range and in the vicinity of Chey. enne. Courtesy of For a Suitable Name I will give the above reward to the party bringing in a name for the Confectionery Store formerly known as “GILROY’S” 414 East Second Street Here is your chance to win $10.00 and no obligations. Only the first one to bring in a name selected gets the prize. Suggestions must be brought in before closing of store April 10th. Winner announced in Sunday Tribune, April 138th. Watch for it. WALTER K. SHOLD, Proprietor Bus Drivers — Appreciated The courteous treatment accord- ¢a patrons of the Casper Motor Bus line has recelved many fav- orable comments from citizens who have often expressed their surprise that the bus drivers so often figuratively ‘‘go out of their way” to accommodate a pas- senger. The following letter was recently written by a prominent minister of the clty to Wallace L. Potatoes. ALLENTOWN, Pa.—Farmers of Lehigh expect to produce 000,000 bushels of pe oes this year, In splte of this activity, state of sand debt. fortune. Start Today. LWZAZASASAVYA Nati Not How Much, But How Often “Tiny drops of water, tiny grains the very same thing is true in saving money. amounts of money deposited fre- quently and regularly will wear away the stones of Indeed, they will build a Citizens Bank Consolidated Royalty Bldg. England, president of the bus com- pany: mewhere I have read, ‘If you had a kindness shown pass it on.’ Accordingly I must address you a Small worry and onal OAC aCaWi We Have Several Small Mortgages In Amounts of About $1500 to $2000 Each Which We Will Discount to Net 12% Interest These Mortgages Are Paid Off at the Rate of $40 to $50 Per Month Mortgages of this type will earn more net money than apartment houses or houses built for rental purposes and no risk. No better security for your money in Wyoming. At any time before expiration of mortgage upon 60 days’ notice, we will take over mortgage and pay 8% interest, Baker-Grude Inves. Co. Phone 1189 133 North Wolcott Everyman’s Investment By George T. Hughes Mr. Hughes is a bond expert/and analyst with many years’ active newspaper experience, Every week day of the year he writes an inter- pretive dispatch from New York concerning the activities of the day in the bond market. He has pre- pared this series of articles in re- sponse to hundreds of inquiries from the readers of daily dis- patches, OZ 7. HUGHES This series of articles will appear every Monday, Wednesday and Saturday in Che Casper Daily Cribune Commencing April 7 It is written for every man and woman so you can actually see what goes on in the investment business. The articles will be full of helpful information, pre- pared in an instructive and entertaining way. They will reflect every type in the investment field, bonds, stocks, life insurance, building and loan, mortgages, short notes, open market, borrowing, etc. No one is better qualific to write this series of a ti authoritative and ve nt subjects, Hughes ntain posi od than Ge practic: at yn in- “EVERYMAN’S INVESTMENTS” Will Appear Exclusively In Che Casper Daily Cribune