Casper Daily Tribune Newspaper, April 9, 1924, Page 9

FFICERS ARE NAMED BY PETROLEUM CLUB E. L. Estabrook Made President at Closing Business Meeting of Year; Big Social Event Is Planned for April 22. Last. of the business meetings of the, Wyoming Petroleum club. for the year was held last night at the county court houne. - Election of of- ficers to head the organization when it resumes its activities next fall, featured the event. The following men were chosen: E. Jack W. Steele, first vice president; A. J. Hazlett, second vice tary. A committee of which the chair- — Commodity Lumber. SEATTLE.—Middle western yards are buying very little lumber on the Pacific coast just now, hoping that prices may suffer a further drop. ‘The first 12 weeks of this year skewed Washington and Oregon m.il production 10 per cent above that of 1923, 30 per cént above 1922 and 150 per cent above 1921, Building Materials. PITTSBURGH.— Most construc- tion work in this district requiring brick is called “small stuff" but there {s such a good volume of resi- dence building that local plants are keeping quite busy-, There have been no price changes in a year from the $16 per 1,000 delivered Pittsburgh price. oi. CHBEYENNE.—Latest wyporta 28 40 Wyoming oll production show a falling off in production amounting to about 2,500 barrels weekly. _— Cotton. AUGUSTA. — Heavy precipitation in the southeast following a spell of cold weather has again prevented farm work tnd further- delayed cotton cultivation. Carpets. KANSAS CITY.—Rug houses here report an increased business from a wide territofy following a reduction in prices announced in axminsters, velyets and es. There is. ex- cellent authority for the statement that. Wiltens and Chenilles will suffer a drop May 1. Dairy Products. ST. PAUL—Milk prices here have been reduced to 10 cents a quart and six cents a pint, the lowest April price in ten years as 4 Estabrook, | 2: man fs John Moran, was named to make arrangements for the dinner and dance which will wind up the affairs of the club for the season. In all probability the social program will be given the evening of April 2. Of humorous interest was the talk by A. J. Hazlett of the Inland Oll Index on witchcraft in the. oil industry. In particular he dealt with doodlebugs and their brethren- in-magic. Trade News result of large foreign imports of dairy products especially from Den- mark, Automobiles, CLEVELAND.—The Nash agent here delivered 171 cars in March, an increase of 63 over March ,1923. Forty per cent of these sales were made without trade-in Stearns Motor company reports sales better than a year ago and the Cleveland company is producing 45 vehicles a day. SPRINGFIELD, 1 ing of crops on Mlinols farms has been delayed by cold and rain. Potgto planting is extremely late and plowing for oats should have already been completed. Woolens. BOSTON.—The spring business of the New England Woolen mills is estimated by statisticlans to have been about 40 per cent of full mill capacity so far this year. Automobiles. HARRISBURG.—The state has issued 1,000,000 rivera licenses since the new state motor vehicle law became effective March 1. Over 800,000 passenger cars have been Ucensed. Steel. PITTSBURGH. — Sustained buy- ing of butt weld pipe keeps sellers well supplied with the tubular goods business in this district. Improve- ment is being experienced by sellers of off country ‘goods. Coal. CHICAGO. —Local coal dealers have cut retail prices of ‘anthracite $1 a ton. Taylor-Mammoth Oil Suit Started in CHEYENNE, Wyo., April 9.—The suit of Robert G. Taylor and James G. Darden against the Mammoth Ot! company and Helen M. Campion and M. Phyllis Campion, helrs of John F. Campion, and Clyde W. Turnbull, administrator of the Campion estate, which was dismissed on stipuldtion in the United States court here Tues- day, was. originally brought in the District court of Natrona county in March, 1923, and later was transfer- red.to the Federal court. The plain- By GEORGE T. HUGHES Spencer, an attorney and a good one; Bartlett, a bond salesman, an exceptionally good one, and I were at lunch together. Spencer said hs had saved $10,000 and wished to buy bonds. Had Bartlett anything to of- fer? Bartlett asked Spencer how many children and other dependents he had, what was his age, his pres- ent and prospective Incbme, and ob- Ugations, and other Intimate ques- tions. At first, Spencer was evasive- ly polite; then, heatedly, he sald it was none of Bartlett's business. Was Bartlett selling bonds or was his business the gratuitous handing out of insults? “'Thoue questions are for your best interest, Mr, Spencer,” Bartlett re- plied evenly. “I have on my list 24 different bonds. On these we make from one-eighth of a point to 5 points gross profit, Our average gross profit runs arow! 2 points, On 2very $100 in bonds I sell you at « Profit of one-eighth of one point we make just 12% cents. On the 6- Point profit, we make §5 on the $100, or $50 on a $1,000 bond. On the average we make $3 on the $100 bond or #20 on the $1,000, You have the reputation of being @ fine at- torney, You admit you know very Uttle about Investments. It ts my business to give you the best in- véatment counsel I can, just as you Pride yourself on giving your clients your best service, “If your Income subjects you to heavy surtaxes, if your obligations re heavy and your dependents not securdly provided for, I will be guid ed by those conditions in selecting your bonds. I won't consider our Profit. If you are im a position to take a fair risk for a high yield, I will so advise, If you need safety above'nll things, I shall suggest the wafest bonds I know. If, however, the bond on which we make 5 points de just as good for yqur interests as Casper Court tiffs based thelr suit against the Mammoth and other defendants on a placer claim title to 160 acres in the Teapot. Dome naval oil reserves. While the litigation was in progress the proceeds from the sale of oil taken from this 160 acres were held in escrowe and had reached ap- proximately $500,000 when the litiga- tion was settled by compromise, the impounded funds, under the stipula- tions, going to the Mammoth com- pany. Investment the bond on which we make one- ‘hth of one point, I am enough of a salesman to try to sell you the bend on which we make the long profit."” On Bartlett's advic Spencer bought four industrial, four utility and two railroad bonds, Bartlett strongly recommended diversifica- tion; that is, securiti¢s representing different concerns in different lines of business. The bonds had an average yield of around 6 per cent. The foregoing explains why re- sponsible bond houses make so little effort to reach small investors, Their profits are so small they can- not afford it. Bartlett made a steady customer of Spencer. The lawyer now has several thousand dollars a year to invest and he knows be can trust Bartlett's house to invest {t for bim safely. But the peddlers of worthless or doubtful securities can afford to go after any small sum because most of what they get {s prodit. SUGAR NEW YORK, April quiet and unchanged at granulated. Refined futures were nominal, Sugar futures closed trregular. Ap- proximate sales 42,000 tons. May $4.68; July $4.82; September $4.80; December $4.33. Feaecsac Sa Mt ae NEW YORK, April 9,—Liberty 2 #illed Chemical & Dye -_-.-. 65% American e an~~ 100% American Car & Foundry -..156B Amerivan International Corp 19% American Locomotive ----.-_.72 American Smelting and Refg 60 American Sugar panne 4745 American T. & T. --.----.-126% American Tobacco -_--.-.----138% American Woolen Anaconda Copper Atchison . % Atl Gulf & W. Indies 18% Baldwin Locomotive -.---...114\% Baltimore & Ohto —-—-____.- 54% Bethlehem Steel --._.. 50% California Petroleum -. & St. Paul pfd_ 27% Pac --------. 224%) Carn Products .---—-—___.164% Cosden i} ~...... Crucible Steel = 24% Famous Players-Lasky —--.-. 7% General Asphait ewewnnn= 37% General Electric ~--.---1..212% General Motors .. wnennn- 14% Great Northern pfd --------. 56% Gulf States Steel -. UWlinols Central ~~. Inspiration Copper International Harveater .. Int. Mer. Marine pfd ~. International Paper {Invincible Oll --..... Kelly-Springfield Tire Kennecott Copper Lima Locomotive — Louisville & Nashville ~~. Mack Truck ~----.. Marland Oil -. Maxwell Motors Mid@o States Oil Missourl, Kan Misscuri Pacific, New York Central N.Y. N. wennnnene= 70 Northern Pacific PACG, OU : nmeerensiniennnnede Pan American Petroleum B-.. Pennsylvania - s----—------. People’s Gas Republic Iron & Stes! --. Sears Roebuck . Sinclair Con. Oil Southern Pacific Southern Railway ..—. Standard Oil of N. J. ----—- 37% 1% Tobacco Products A -----. Transcontinental Oil Union Pacific -. U. S. Ind Alcohol United States Rubber United. States Steel Utah Copper -- Westinghouse Electri Willys Overland ----.. Amer, Zinc, Lead & Sm Butte & Superior -. Colorado Fuel & Iro: Montana Power National Lead ~~~. Shattuck Arizona Anglo = -..---------- 16% Buckeye - --e2n—nn--n 89 Continental -. — —.--. 45 Cumberland . -----.---130 Galena ~ ~------~----- 60 Miinols . ~------------137 Indiana - -.------—. Nat. Tran 16% Nor., Pipe Ohio Ol! -. Prairie Ol! -. Prairie Pipe Solar Ref. Sou. Pipe 8s. O. Kan 8. 0. Ky 8. O. Neb. 8. O..N. YY. amccnccas: Bs OF OND 7 5 octaaastes Butter and Eggs CHICAGO, April 9%.—Butter— Lower; creamery extras, 370; stand- ards, 87c; extra firsts, 34% @360; firsts, 34% @85c; seconds, 34@34%: ‘ 26,472 ordinary firsts, 20%@21c; storage pack ex- tras, 24%c; storage pack firsts, 24@24%o. Foreign Exchange NEW YORK, April 9.—Forelgn exchanges, firm. Quotations in cents; Great Britain, demand 433%; cables, 63444; 60-day bills on banks, 431%. France, demand 6,04; cables, 6.05. Italy, demand 4. cab) 4.45. Belgium, demand 6.18; cables, 5.14. Germany, demand per trillion, 21. Holland, 87.25; Norway, 1 Sweden, “26.45; Denmark, 16.! Switzerland, 17.61; Spain, 13.45 Greece, 1.75; Poland, .000012; Czecho Slovakia, 2.97; Jugo Slavia, 1.94 Austria, .0014%; Rumania, .52%; Argentina, 33.6 Brazil, 11:40; Tokio, 42; Montreal, 98 [ Pemtchatadenre Hott «isl Colorado Union Spuds On Beo, 8-9: the Union Oil com: pany of Colorado has started spud- ding its well No, 1 on the Wellington structure in northern Colorado, Ap- state board of utilities for permission to pipe gas from its lease to nearby Colorado towns,. “[early sales packing sows Burke Oi Chappel 4 ~---=--- Columbine . ~------- 13 Cons. Roy, 1.28 , EB. T. Willlams cen. 53 Gates ~ .-~-----ean= -10 Kinney Coastal sass. .14 Lance Creek ~---.--- 01% Mtn. & Gulf ae Re# Bank --~--~----18.50 Roy. Producers -.---- .07 Sunset - -----—---- «! Western Exploration 3.60 Western States -.---~ .21 ¥ Ol] & Gas -.-------- 10 M. 8S, ‘Phone ---~---1.05 Cement Securities ~~-1.55 Ama‘, Siar Common 1.00 Holly Sugar Common... .33%% Ditto Preferred - 89 ‘Utah-Idaho Sugar --3.80 een, I 34 91 3.90 NEW YORK CURB CLOSING Bid Asked Mountain Producers -18.25 18.50 Glenrock Ol] -.------ .30 40 Salt Creek Prds -----23.00 2325 Salt Creek Cons .--.. 8.75 9.00 Mutual — <11.25 11.37 S. O, Indi 75 61.00 LIVESTOCK Chicago Prices CHICAGO, April 9.—(U. S. Depart- ment of Agriculture),—Hosgs—Re- celpts 18,000; slow, mostly five high- er than yesterday's average; ship- pers moderate buyers; big packers inactive; bulk good and choice 250 to 825 pound butchers $7.40@7.50; bulk desirable 160 to 225 pound aver- ages $7.30@7.45; top light and heavy weight $7.50; 140 to 150 pound aver- ages mostiy $7.0 7.25; packing weak to 25 cents lower; bulk largely $6.80@6.90; killing pij desirable strong weight, $5.75@6.25: heavy weight hogs 25@7.50; me- dium $7.30@7.50; Mght $7.00@7.51 light light $5.90@7.85;; packing sows smooth $6,80@7.00; packing sows rough $6.60@6.80; slaughter pigs $4575 @6.35. 4 Cattle—Rece!lpts 6,000; better grades beef steers averaging 1,100 pounds upward 10 to 15 cents high- er; spots more; lower grades and common to medium yearlings bare- ly steady; bidding lower in spots; fat she stock slow at recent advance; light vealers weak to 25 cents low: er; good to chojce kind steady; bulk light “vealers $9.50@10.00; choice kind upward to $11.00 and above, most other classes steady; best ma- tured steers held above $12.35; sev- eral loads matured $12.00; bulk $8.50 @11.00; weighty meaty feeders on country account JAte yesterday, $9.50; country demand thin flesh stockers and feeders rather narrow. Sheep—Receipts 7,000; active; fat lambs strong to 25 cents higher: sheep around 25 cents higher; prac tically no feeders on sale; good fat wooled lambs early $16.50; medium native $15.00; good shorn lambs $14.50; choice fat wooled ewes $12.40@12.50. Omaha Quotations OMAHA, Neb,, April 9.—(U. 8. De: partment of Agriculture}—Hog Receipts 11,500; uneven; few early sales 160 to 200 pound hogs $6.99@ $7.00; around 10c higher; two pens of 300 pound butchers to shippers and yard trader $7.05@§7.10; top $7.15; mostly be higher; trading at standstill; packers bidding $7.00 on choice butchers or 5 to 100 more; $6.25@ $6.40; average cost yesterday $6.97; weight 253. Cattle—Receipts 5,700; beef steers and yearlingse fairly active, uneven steers $11.25; few loads weighty steers $11.00@$11.15; bulk steers $8.60@$10.65; desirable yearlings scarce; bulk $8.00@$9.25; fed she stock 10@15c higher; canners and cutters steady; bologna bulls strong; beef bulls 10@15o highe: vealers 25c higher; stockers and feeders scarce; steady to strong; bulk butch- er cows $5.25@$7.00; shippers $6.00@ $8.00; canners and cutters $2.50@ $4.25; vealers to packera upward to $10.75; bologna bulls mostly $4.50@ $4. beef bulls $5.00@$5.50; stock- ers and feeders $6.50@$7.75. Sheep—Receipts 11,500; fat wooled lambs lower; bidding fully steady; one load ight Ismbs to shippers $16.50, steady; clipped lambs 15@25e higher; early sales $14.25@$14.30; some held higher; sheep scarce smal lot ewes $11.00@ shearing lambs steady to 7 Denver Prices. DENVER, Colo,, April 9—{U. 5. Department of Agriculture.)—Hogs —Receipts, 1,400; early sales, steady to weak; top, $7.05; other desirable 190 to 240 pound averages, $1.75 to few light lights, $5.75 or 250 than yesterday's opening sal packing sows mostly steady, at $5.75; few pigs, $5.00 to $5.50. 350; calves, 50; he stock, mostly steady to few sales lower; other ma: tured cla: steady; calves, mostly $1.00 lower; plain to good cows, $5.00 to $6.35; few heifer $6.75 down; choice 1,065 pound beef steers, $10.25, freight paid; good heifers, $9.10; ono load, $8.60 flat; desirable vealers, $10.50 to $11,00; few bulls, $3.50 to $4.50, Sheep—Recelpts, 1,200; fat lambs, 16c higher; top, $15.60, for two 96 pound weights; one load 93 pound kind, $12.25 fat ——__—_. Collins Well Deep Chile Depth of the test well of the Fort Collins structure near Fort Collins, Colo., being drilled by the Union Ot) company of California, is now 3,010 feet. The company's new well on the Wellington structure 4o drilling at 1,450 feet. - PAGE NINE. STOGKS BREAK WHEAT PRICES (DAUGHERTY PROSECUTION T0 BE TNDULL TRADE} GIVEN SETBAGK) GBNTINUED BY INDICTED SOLON Dawes’ Commission Report Fails to Influence Exchange NEW YORK, April 9.—Stock prices continued to lose ground in today’s dull market. ‘the Dawes report, which had been eagerly awaited by the financla! community, apparently failed to have any im. mediate market effect. Woolworth broke 35 points on announcement, of the recapitalization plan. Sal approximate! 650,000 shares, NEW YOR! April 9,—Mixed Price movements prevailed at the opening of today’s stock market, which apparently failed to respond to the publication of the Dawes re- port in initial dealings. Trivial changes take place in a majority of issues, although Norfolk and West- ern moved up about a point. Motor Ss were under renewed pressure. ys Overland preferred dropped tionally to a new low at 75, nding closer analysis of the committee's recommenda tions, stock market operators were disinclined to commit themselves and prices continued to vary little elther way. Selling appeared, how- ever, in some of the market leaders, including United States Steel, Bald- win, American Can and Studebaker, while General Electric Canadian Pacific and Dupont were heavy. American Sugar was offered freely, declining 1% to a new low price for the year at 48%. Foreign exchanges opened higher. A sharp break of 31% points in Woolworth to 308, following an- nouncement of a splitting up of the stock with the new $25 shares placed on a $3 annual dividend basis, provided the main feature of the morning trading in which specu- tive interest generally continued at alow ebb. Heavy Hquidation re sulted from disappointment over the amount of the dividend. Sugar stocks were unsettled by the break in American Sugar to a new low for the year, both Punta Alegre and Cuba Cane losing ground. Rail te tracted a fair demand, New Orleans, Texas and Mexico making a gain of more than two points. American agricultural issues recorded one to Uhree points. Call money opened at 4% per cent. Experimental buying operations caused @ sharp run up in General Blectric after midday. Willys Over- land preferred rallied two points. Speculative operations, however, were restrained by gyrations in Woolworth which, after snapping back from 308 to 324, went down to 306% and hardened to 310. ‘The closing was heavy Gulf Stater Steel and American Can were driv- en down to new 1924 lows at 69% sn 100% respectively, in the late dealings. Some of the southern and southwestern rails showed in- dependent strength. CRUDE MARKET Cat Creek Grass Creek, heavy ---—..--- Torchlight --~~.---~-~.------. 1.95 Greybull .... BIE) Bast oe eew erence ene ae Rock Creek ~--..~------------ Malt: Creek 2222s fe Ns eae EE Ee Mule Creek -s-—~.---...---- Sunburst . wewnennn-----—— Hamilton Dome -----.---.--. be a EE RAEES, Byron . Notches .. Pilot Butte Lander .. ie POTATOES > CHICAGO, April 9,—Potatoes— Steady; receipts, 54 cars; total U. 8, shipments, 737; Wisconsin sacked round whites, $1,25@1.50; bulk, $1.35 @1.60; Minnesota and North Dakota sacked Red River Obios, $1.25@1.50, Czechoslovak, Rep. 8c ctfs. ... Dominion of Canada, 6s, 1962 ~. Fregeh Ropublic, 7a Japanese 4m .. Kingdom of Belgium, §8 Kingdom of Norway, 6s State of Queensland, 6s U. KB of G. B. &L., Sign, American Smelting 5s . American Suyar 6s - American Tel., col tr., Anaconda Copper, 76, Anaconda Copper, 6 At. T. and Ban Fr Baltimore and Ohio ki} Bethlehem Stee! con., Gx Series A Canadian Pacific deb., 48 ---- Chicago, Burlington and Quincy ref, Chicago, Mil, and St. Paul Copper, és joodyear 'T orthern Pacific ref, 6s B - jorthwestern Hell Tel Pacific Gas and Electric bs Penn. R. R. Gen., 6a Sinclair Con Oi! col., 7s - Southern Pacific cv., 4s Union Pacific First 4s U. 8 Rubber 6s Utah Power and 1. Western Union 64s & Weatinghouse Electric ts Wilson and Co., cv., 68 ~., Decline Takes Place When Buying emer Falls ff CHICAGO, April 9.—Grain prices underwent a little setback today during the early dealings. Tine weather continued io be the chief influence with trade = lacking volume. No definite effect on values apparently resulted from publication of summaries of the Dawes’ report, although some foreign selling of wheat here was evident. Wheat opesing prices, which varied from unchanged figures to %@%o lower, “May, $1.01% to $1.02 and July, $1.03% to 1.03%, were followed by a slight rally and then another sag. Subsequently there was a notabl lack of aggressive buying and fur- ther declines were witnessed. The close was unsettled, at tac to R@%c net lower, May, $1.01% to $1.01% and July, $1.03%% to $1.03%. Corn was more or less affected by evidence that the movement of the crop to terminals showed some in- crease. After opening unchanged to Ke off, May, 77% to 77%o, prices underwent a moderate general downturn, Eastern demand was reported as slow, and rallying power here was absent. The market closed weak, % to 1%c net lower, May, 76% to T6%e. Oats started unchanged to a shade lower, May, 45%c. Later, the de- cline went a bit further. Provisions were firm in Ine with the hog market. Cpen High Low Close WHEAT— . May - $1.01% 1.02% 1.01% 1.01% July 1.03% 1.03% 1.03 1.03% —- 1.04% 104% 1.04 1.04% 17% 18% 18% 45% 43% 40% 16% 76% 18% 78 45% 43% 40 ABM 43% 39% 10.95 11.20 10.95 11.20 10.98 11.20 9.82 10.15 9.82 10.10 9.82 10.12 10.22 July ------10.52 10,55 10,52 10.55 Cash Grains and Provisions CHICAGO, April 9.—Wheat no Corn number 2 mixed 79c; number 2 yellow 79@79%c. Oats number 2 white 48% @49%e; number 3 white 461% @48%s; Rye no sales, Barley 66@78c. Timothy seed $5.00@$7.60. Clover seod $16.50@$22.50. Lard $10.85. Ribs $9.87. ' Bellies $10.20. 1+ Midwest Operations For the first time in many weeks ported by the Midwest Refining company. Following are given the routine operations of the company in other districts: Nieber Dome—Test well, 3540 fect; shut down and cemented. Grass Creek—19-A Meeteetse 15, 4180 feet; drilling, Baxter Basin—16-X NE 11-17- 104, 3882 feet; drilling on underream- er lugs. New Mexico—Hogback No. &, SE 18-29-16; location made. os METALS NEW YORK, April 9.—Copper— Easy; electrolytic, spot and futures, 18% @13%. Tin—Easy; 50.50, Iron—Easy; No. 1 northern, 22.00 ; No, 2 northern, 21.00@22.00; southern, 22.50@24.00, Lead—Easy; spot, 8.50@8.75. Zinc—Easy; East St. Louis spot and futures, 6.20@6.25. Antimony—Spot, 10.00. spot, 61.00; futures, Ba A. 107% n% 100% 92 93% 90% 82 89% 110% 107% ory 92% (Continued From Page One) tor, In his statement Senator Wheeler attributed his indictment by a grand jury here yesterday to a desire on the part of sinister in- terests to interfere with his work as prosecutor of the Daugherty in- vestigating committee. “So far as I am concerned,” said Attorney Slattery, “the Senator Wheeler case will take the regular channels and if it should be tried in this jurisdiction it will not come up for at least two months, This would give him all the time he needs to conduct his investigation.” Attorney Slattery also expressed the opinion that the people of Mon- tana will resent tho alleged reflec- tion in Senator Wheeler's statement on Federal Judge Charles N. Pray. “This slur was entirely uncalled for,” he said, “Senator Wheeler very well knows that a judge has nothing whatever to do with a grand jury's investigation or report. There isn't a cleaner, more honor- able judge in America than Charles N. Pray and the people of this state will resent Senator Wheeler's state- ment.”" A federal district official today declared that in the evidence against Senator Wheeler is a telegram from him at Washington to Gordon Campbell at Great Falls stating that the senator had just appeared be- fore the department of the interior with reference to an of! matter. Also that a letter in the possession of the prosecution, signed in ink by Senator Wheeler, giving information of a similar nature. All warrants returned by the grand jury have been served it was stated, today except the one con- cernitig Senator Wheeler, one sesk- ing the arrest of a fugitive oll man and one bearing the name of a man now in Leavenworth penitentiary, Gampbell was arraigned and plead- ed not guilty today. He asked for an tmmediate trial but the jury)‘ is not now in attendance the court {n- formed him. L. C, Stevenson asked for further time in which to plead. OIL MEN INCLUDED IN INDICTMENT. GREAT FALLS, Mont., April 9. —Burton K. Wheeler, United States senator from Montana, and prom!- nently identified with the senate Daugherty Investigating commit- tee, was indicted by a federal grand jury here yesterday. He Is charged with unlawfully receiving money as retainer fees to Influence the issu- ance of oil and gas prospecting per- mits by the commissioner of the general land office and the secre tary of the interior. Gordon Campbell, geologist and ol! operator, L. C. Stevenson, oil pro- moter and a number of other oll men were also indicted on charges of using the mails to defraud. Campbell and Stevenson are the dis- coverers of the Sunburst-Kevin oll field, Montana. Warrants were served on Camp- bell and Stevenson late yesterday and they arranged bonds of $5,000 each. United States District Attor- ney John L, Slattery, who presented the cases to the grand jury, said that a warrant for Senator Wheel- er's arrest would be telegraphed to Washington. The technical charge is violation of section 113, United States penal codes, The grand jury charges that on more than one occasion Senator Y pateas accepted money “improper- "* after he was elected United Staten senator, but before he quali- fied for office. The Indictment charges that Senator Wheeler ac- cepted money from Campbell and others to obtain for them ol! and gas prospecting leases which gave them exclusive right to develop ofl on government land for two years. The indictment recites that on one occasion the sum of money Senator Wheeler was alleged to have agreed to accept was not known to the grand jury, but that payments of $2,000 each were made to him in Butte, Mont., January 10 and February 23. The lease and permits involved in the Indictments against Wheeler and Campbell cover about 2,860 acres of land, a part of which is in the main producing area of the Sun- burst-Kevin fleld in Toole county, Montana TAKES FLOOR TO DEFEND HIMSELF WASHINGTON, April 9.—Rising to a question of personal privilege Senator Wheeler, Democrat, Mon- denounced on the senate floor day the indictment returned ainst him yeaterCay by a grand ury In his home state. Senator Wheeler spoke to a crowded senato, practically every member being in his seat and the galleries jammed. The Montana senator first gave oa brief resume of his personal car. eer ftom his birth in Massachusetts to his entrance into public life in Butte, Montana, where he said he incurred the fllwill of one of the largeet {inanela! interests in state by voting for Senator Wal Democrat, his present colleag, Vor that vote, Senator Wheeler he was told he could not affairs or in e service as he waid, “it prosecute momo ticlans, both Republican ocratic,” and to elite officials for “contempt on charges of tampering with a jury.” One of these offivials, he said later became associated with a large @pper company and from that bee pr the | Point on “has been active in oppos- ing me.” “While in office,” Senator Wheel- er continued, “I found it incumbent to prosecute graft and corruption and here I find myself in the de- partment of justice investigation standing tndicted."* The fareman of the ~ Montana grand jury was described by Sena- tor Wheeler as “the bitterest polit, ical enemy I have.” The ‘man who presented the evi dence to the jury,” he added, re- cently ha@ sought his (Wheeler's) aid in obtaining an appointment. “This indictment," he said, “is part of one of the most damnable conspiracies ever consummated in the United States. } Senator Robinson, Arkansas, the Democratic leader, urged an. inves. tigation of the indictment and sug- gested that a new committee be appointell because Senator Wheeler is a member of the present com- mittee. ‘I desire to express my entire confidence in ‘the statement of my colleague," said Senator Walsh. The party leader declared that all of those who had heard Senator Wheeler's statement could not be but impressed that “he has been the victim of a frameup.” Senator Walsh, Democrat, Mom tant, prosecutor of the ol! commit. tee, declared he was convinced that the charge against his col: league was utterly baseless. Senator Walsh then introdyced a resolution proposing the appoint- ment of a committee of five to in- vestigate and ‘report as to the charges made against Senator Whee'er in the federal court in Montana. In recounting his political exper jences in Montana, Senator Wheeler said he long ago had incurred “the orposition of the Anaconda com- pany, the largest financial interest in th te," He hten declared he would give the senate “the whole story of his connection with the case,” mention- ed in the indictment. A retainer of $2,000 was given him, he said, to try the case for the oll company which be won, and afterwards he was paid about as much more. That was in January 1922 “I have never appeared before any department for Mr. Campbell or any of his associates" he said, referring to Gordon Campbell, indicted with him. “My contract with him ex- pressly said I could not appear for them in Washington. “I defy thém to produce one scintilla of evidence that I have ap- peared before any department of government.” Campbell, an ofl geologist {n Mon- tana, was “being robbed by the big companies, my friends told-me,”* the senator said. “In 1922 after the election he ask- ed help,” he continued. “I told Mr. Campbell that I would try his cases in the state courts, during the period before 1 took office, provided he paid me @ retainer of $10,000 for the year.” After he started the department of Justice investigation, he went on, “rumors came to me that they were investigating my record in Mon- tana." He said he had been told Burns Detectives wero being u: Some time ago he was told by * prominent man” he declared, that he had information from the Repubii- can national committee that Wheel- er was to be indicted in Montana. Senator Wheeler then charged that agents of the department of justice had “absolutely and unquall- fiedly framed” him in order to stop investigation of the department, “Iam not asking the members of the senate for sympathy,” he said “I merely want you to know the facts. I am perfectly able to take care of myself in this trial. “I say to you, members of the senate, that I have never appeared before any department of the gov- ernment. I understand Mr. Camp bell has issued a statement, carried by The Associated Press, which denies that he ever paid me for assisting him to secure government permits. “Knowing I had bitter enemies, I have been scrupulous to refrain from entering even the federal courts. I even wrote my law partner to se- parate all accounts. “I was told ten days or two weeks ago by @ prominent gentleman on in- formation eminating from the Re- publican national committee that I was to be Indicted. I was told it from @ second source, later," _— COTTON NEW YORK, April 9.—Spot cotton steady; middling $31.40. pecan A aah MONEY NEW YORK, April 9.—Call oy easier; high 4%; low 44 rate 4%; closing bid 4%; offered at 4%; last loan 4%; call loans against acceptances 4. Time loans atoady xed 60-90 days ntra 4% @4%; pr m mon- ruling per 4 1% _ SILVER YORK, April 9.—Bar sliver, Mexican dollars, 48% Flour. MINNEAPOLIS, Minn, April Flour, unchanged. Bran, 22.00.