Casper Daily Tribune Newspaper, April 27, 1924, Page 9

SUNDAY, APRIL 27, 1924, TOO MANY RAILROAD -EMPLOYES -- BABSON Finance Lower Freight Rates Possible by Elimination Of Surplus Labor, Not Through Cut in Wages, Statistician Declares. BABSON PARK, Mass., April 26. ‘Demand for lower freight rate is growing fn every section of the coun- try, according to Roger W. Babson, the statistician. Returning today from the south, he contributes at leaSt one possible solution to the problem. “In traveling across the country either frum west ur east or south or north one hears continual com- plaints as to the present ‘high’ freight rates—especially on agricul- tural products. When one asks in Flertda why orauges are being left to rot in the groves, the answer is ‘because of high freight rates.’ When one asks In New York why sixty cents a dozen is charged for the same fruit, the reply is ‘because of high freight rates.’ At every rail- reat’ station, in dining cars and Pullman smoking apartments the universal cry is that high freight rates are killing the moose that lays the golden eggs. Producers, consum. ers and middlemen al} unite in the samé complaint. “Now, what is to be done about it? “from the statistics of the rail- roads, rates are not tvo high. The roads need much more money for extehsicas and improvements. They cannot continue to issue bonds in- definitely. They should sell more stock. Yet you and I will not buy ra{lroad stocks unless the roads are assured good earnings. It would be fatal to future financing to have the net earnings of the rallroads cut materially at the present tim If rates are to be lowered, some plan must be evolved to reduce ex. penses so that the net earnings w! not be greatly reduced. “A satisfactory market in railroad securities demands that congress let the railroads alone—at least not reduce their net earnings or hinder their earning capacity. “Can the shippers get lower rates without cutting down the net earn- ings of the roads? If this can be done both sides will be satisfied. “Every time I travel on the trains T am surprised at the surplus of un- necessary railroad emp'oyes. Effi- ciency engineers tell me that the roads could be run just as well with 20 per cent less help and few rall- road officials will deny this state- ment. The difficulty is that tho in- Prospectors Permits on State Land Are Numerous terstate commerce commission, con- gress, state legislature and labor unions have unconsciously combined to compel the railroads to employ this surplus. Not onty are the roads employing many more than they need, but this very fact hurts the morale of the entire body of men and reduces efficlency all around. When men know that their jobs are | C protected by legislations and—even though they have no real work to do—that they cannot be Cischarged then efficiency {s at an end. On the other hand, when men know that they can be discharged and the work done by someone else, then ef- ficlency increases. The far better results which the railroads are new getting trom their shop men are an illustration of this point. “T am not for reducing the wages of railroad men. Their wages, with a few exceptions, are not unduly high. I believe in good wages. But statistics clearly show that it is good neither for a man nor the com- pany to continue with jobs that are not necessary. It seeme to be that the interstate commerce commission could serve the employes of the rai!roads as well as the shippers and the public by revising its rulings so that the roads could operate more efficiently at tower expen: “When the movement which has installed the ‘oneman car’ on the trolleys exten(s to the steam road» then everyone, shippers, investors, employes and the general public will al' be better off. “Moreover,” concluded Mr. Bab- son, “now is the time to make the changes when the surplus railroad men can get jobs elsewhere and when car loading are heavy enough to supply a volume of business at lower rates. Last weel nearly a mi!- lion frefght cars were loaded. Hvery week since January first Was run over 900,000, the highest of any Similar period in hirtory, But this will not continue indefinitely unless some adjustment can take place in freight ratés. Moreover, this must be done in a way which wit! be fair to both employes and the stockhold- érs. Present high rates, and the cor- responding reduction in profits to the shippers, ate in part respon- sible for the recent drop in the Bab- fon of genoral jess from 6 cent above normal to 7 per cent low normal at present.” Oil and gas prosrector’s leases recently granted by the state land office are listed as follows: Edith G, Oakes of Denver—All of section 16-37-86, J. Fraher of Denver— of section 17-87-86, 8% NE, N% NW of section 21-37-86. ' Harry B. Henderson, Jr. of \Chey- enne—W% W% NE% of section 16-45-62, | Walter R. Brookins of Dayton, Ohio—All of section 36-42-81. J. B. Barnes, Jr., of Casper—W% NEY, N% SE% SW% SE% of seo- tion 36-41-79. ees Mark J. Davis of Casper—All of section 27-48-82. ' B. F. Mulan’ of Cheyenne—w% NW% of section 26-26-62. Rose George of Douglas—N% SE% of section 16-41-81. > " Ruban W. Riley of Cheyenne—All of section 36-26-62. Joseph M- Hay of Rock Springs— All of section 96-17-104. w. Hogan of Lance Creek— All of section 36-35-61. W. E. Grell of Casper—aAll of sec- ‘ton 36-37-8 | Maude Mentzer of Cheyenne—N%% ‘of section 14-26-66, N% of section 15-26-66. . Eltinge T. Brown of Denver—All of section 36-38-78. Frank L. Dixon of Denver—All of section 36-19-104. L. R. Bellman of Casper—All of section 36-35- G. A. Briggs of Laramie—All of 16-15-75. (Commodity Drygoods Kansas City—Wholesalers through- out the southwest report an increase in business resulting from favorable weather. Demand is specially good for seasonal merchandise and sum~ mer goods, with colored lnem in such request it ts difficult to secure mill deliveries. Philadelphia.—Reports on the vol- ume of Easter business done by local merchants indicate that sales fell behind those of last year, which were remarkably good for this vicinity. New Orleans—The jobbers have had the best week for two months due largely to warmer weather and rapid progress in planting in the agricultural districts, Demand is better, however, for fancy §00ds than gtaples. Central American trade is picking up. Shoes Boston—The amalgamation of the United Shoe Workers of America with the shoe workers protective W. H. Patten of Casper—N4%NE% of section 22-48-82, 848%, NEY SE%, NYN%, SWHSW%, SYNEK of section 26-48-82, N4%NW% of sec- tion 36-48-8: Ion Smith of Denver—All of sec- tion 16-36-63, * J. C. Underwood and T. Joe Cahill of Cheyenne—SW% of section of section Jacob M. Baston of Cody—All of section 16-50-100. Cc. C. V. Gooding of Denver— %NEW, W%SE% of sectiqn 4-12- |, EXNW%, WiSSW% of section 2-98, T. H. Dunphy of Casper—Lots 3-4, NEX%SW%, N%SEX%, NEX, NEX NW of section 31-41-81, P.-P. Anderson of Basin—All of section 16-51-92. - Carl F, Shumaker of Casper—All of section 16-2: . ¥ Wyoming Oil Fields company of Casper—All of section 26-1204. John Whitaker of Cheyenne—E% of section 21-18-70, W% of section 27-18-70. Victor Cotner of Lovell—All of section 96-56-95, Pp 7. Lisle W. Whitaker ef Cheyenne— All of gection 28-18-70, Wilfrid O'Leary of Cheyenne— BW, W%SE% of section 4-17-70, B% of section 2718-70, Cc, W. Axtell of Thermopolis—aAll of section 16-42-90. Crarles Tate of iusk—All of sec tion 36-36-66, Trade News union has led executives of the marged organizations to issue a call to workers throughout the entire country to join the amalgumated association, Lumber Portland—A Norwogian steamer has just been announced for late May or June loading lumber for Shanghal. The steamer Orinoco now is on the way to Atlantic coast ports with a. cargo of 8,750,000 fect, Automobiles Cleveland—The Peerless motor works is working day and night to catch up with orders for the new six cylinder model. Peerless got into production later than was an- ticipated and officials say operations will be continued at a high rate for some months to come, Eges Springfield, IiL—The number of laying hens in Tilinols in the last year totaled 30,000,000 and they pro- duced 125,000,000 dozen eggs. Bonds Can Sugar ... American American Anaconda Atehison itimore Bethlehem Steel -_------—-. California Petrolenint Allied Chemical & Dye --.... American American American American American Enternational Corp Locomotive .....-. Smelting & Refg. and Ohio .Ji22-.-- Chicago and Northwestern — ‘hica; c Chile Cosden R. T, and Pac. Copper --...... Chino Copper -..... Consolidated Gas -....2.LL orn Products ~--.2-2 ou Crucible Steel .. = Cuba Cane Sugar pfd. Famous Players Lasky General “Asphalt ~...... General Hlectric General Motors Guif St Inspiration fates Steel _ Sopyer International Har Int. Mer. Marino pfd. International Paper -. Ke'ly Springfield Tire Kennec ott Lima Locomotive .... Mack Truck « Pacific Oil Copper «.... Pan American Petroleum B Producers and Refiners Pure Oil Reading .. Republic Iron Sears Roebuck .. Sinclair Con. Oil Southern Pacific Standard Ol! of N. J. —. Studebaker Corporation Texas vT Transcontinental Paciti Union IO an U. 8, Ind. Aleshot United States Rubber -.__> United Utah Co) Willys Burke Backst Columb! Central Cow G Domino Jupiter Kinney Lance Marine Colorado Fuel National Lead Mike Henry --..-... « Mountain & Gul —~. 1.55 New York Oil see0ne--11,25 12.25 Picardy Co. cts States Stee! .. pper ...... Ove ‘one Balt Creek — Chappell ine Pipe ----naes= Consolidated Royalty... 1. julch .----... Coastal ..... Creek Royal! Red Bank --...--.. Royalty & Producers . Sunset Tom Bell Royalty ... Western Exploration . 3.60 Wyo-Kans ..-.-----. Western States .... ¥Y_ ou NEW Glenroc! Vouk tcrs Mountain Producers . K Ol) soernee. New York Ol Mutual Grasa Creek, Greybull Torchlight Elk Ba Rock ¢ Balt Creek .. Big Muddy ~~... Creek -.. Sunburet = Hamilton Dome Mule Ferris Byron Notches ~ Pilot Bi Lander sin. Sreek jutte A Ol LL. Westinghouse Blectric .-.2-- PAT mnnains mene and Iron -..2 Standard Oil Stocks 15% 15% 08 00% ‘4 of the country has been somewhat 181% 04 OL 22.00 28.00 06% 06% 02 01% 07% os © 8.80 1.00 Che Casper Sunday Cribune Stocks NEWS AND QUOTATIONS BY LEASED WIR New YorkStcta STOCK ISSUES CLIMB : WITH SHORTS ON RUNIIS ORECTOR OF WR} Grain United States Steel Leads Way to Marked Improvement in Many Shares Following Reaction Early in the Week. NEW YORK, April 26.—Short covering operations brought about by a weakened position and an eas- ing up in money rates caused a rally in stock prices during the last of the week that continued through: out today’s brief session and re- sulted in offsetting reaction that do- veloped the first of the week. Most of the losses were wiped out and some stocks were marked up above last week's closing. Evidence that several large trad- ers had joined the constructive side of the market was apparent today in buying orders that swelled the volume of short covering operations. nited States Steel, barometer of the market, climbed steadily to 101 in expectation of a geod report on earnings, while marked strength was also displayed by steel, equipment, oil and tobacco shares. Good buyirg of coppers, sugars and shipping shares brought about substantial gains with the volume of trading amounting to approximately 500,000 shares. Liberty bond iasues led the way to general improvement ‘in the bond market while French issues respond- ed favorably to prospects of adjust- ment of the reparations controversy. New top rates were established by French and British exchange but Japanese exchange broke sharply on developments at Washington grow- ing out of the passage of the ex- clusion act. x Increase in stocks of crude and refined of!s on hand tn arch caused oil shares to lose ground early in the week, but later reports showing a decline in pipeline runs offset this news and a rally developed. Higher commodity prices resulted {n {m- provement in sugar shares. The arch report of the Southern Pacific showing a decreas of a mil- lion dollars in net earnings last year Was an unsettling influence in rail shares but a lower trend was check: ed by favorable dividend reports from the Nickel Plate and other railroads. Water Borne Traffic to Be Increased This Year By J. ©. ROYLE (Copyright, 1924 Casper Tribune) NEW YORK, April 26.—Trans- portation over the inland waterways hampered so far this pring by weather conditions which caused floods and ice jams. But the vol- ume of ‘water borne traffic will be higher this year than ever before in the history of the country, the best formed shipping men agree. This fact will have a distinct bearing on the prices of nearly every com- modity which enters an American household, So far as the shipping industry on the Great Lakes is concerned var- ious opinions are expressed about the business expected. Last year tonnages of grain and stone broke all records and some are inclined to doubt whether they will be as heavy this season. Shipments of merchan- dise and manufactured goods, how- ever, are certain to be heavy. The slump in the pig iron market is having a tendency to affect the volume of iron ore shipments but it is expected none the less that be- tween 50,000,000 and 60,000,000 tons oft fron ore will be carried to mills in Illinois, Indiana, Ohio and Pennsyl- vania, Coal shipments for the north- west have not yet given indication of extreme size or ungency. In. creased railroad rates are operating to the benefit of the lake freighters, which are offering shippers rates four to 13 per cent lower than rail routes. Already reservations are being made for the week-long pas- senger cruises on the Great Lakes which proved a feature of the sum mer vacation season the mid west last year. ‘What ever may be the tonnage on the lakes, there can be no doubt as to the volume of freight traffic on the rivers of the country. The river borne traffic out of Pittsburgh for the first quarter of the year exceed- ed that of the Panama oanal by more than 8,000,000 tons while trif. fic. on the Monongahela alone exceed. ed that passing thru the Suez by canal by 166,000 tons and fell be- hind Panama by about that amount Barge lines are now being added to the equipment on the Ohio and Mississippi rivers and on tho water ways from the lakes to the gulf. The Atlantic passenger liners are preparing to carry more Americans to Europe this summer than at any tme,since the A. EB. F. was sent to France, Tourist agencies here re- Port that the advance bookings have been enormous. The normal sum mer vacation movement has been in- creased by the fact that Olympic games wil] be held in Paria this ye and that thousands will attend the conventions of the International Sunday Schools, the American Bar Association, the Ad Club and other national and international organiza- ton: Steamship companies are making 4 special drive to secure business from college students who expect to make the voyage abroad this year. This preparation are out- side the “round-the world” tours which have grown so in poularity ‘ately that other countries are put- ting vessels on similar run: Steamship companies, operating ‘nes to Berumda, Cuba, exicg, Cen tral and South America are prepared to put special vacation into effect this summer and expect to handle a heavy volume of traffic. Tourists, Passenger agents of those lines say, Mountain View Suburb has good roads at all times, Wiring Supplies FIXTURES, LAMPS, ELECTRIC APPLIANCES Radio Supplies Motor Repairing Electric Supply And Construction Co. 142 E, Midwest Phone 483W ave discovered that the summer in those localities offers equal attrac: tions in the matter of climate with the winter months, because the dry season is more pleasant than tho season of winter rains, The American St. Lawrence com- mission. appointed last month by President Coolidge to report on the project of opening the Great Lakes to ocean going ships and developing the water power facilitles of the rivers has gone briskly to work but a final report as to whether the enterprise should be undertaken at present is not expected for some time, It is estimated the total cost of the improvements of the St. Law- rence route would be $252,728,200. oo The latest recruit to the stage from the ranks of English society is Lady Patricia Blackwood, who has made her debut as a profes- sional actress in Australla.. She is the 22-year-old daughter of the sec- ond Marquis of Dufferin and niece of the present holder of the title. a Casper Monument Vorks 508 South Conwell Phone 2542 Estimate Gladly Furnished PAGE NINE. ‘Livestock :: All Markets MONDELL 10 CONTINUE] Uncertaint FINANCE — CORPORATION WASHINGTON, April 26.—(Spe- celal to The Tribune.}—The fact that former Congressman Mondell, now director of the War Finance cor-| mained relatively Poration, recently applied to take| sions were the examination for admission to|27c. May wheat the Wyoming bar, has started a number of rumors. It was stated that the former leader of the house planned to return to Wyoming at provement y Rules Wheat Trading, Prices Higher CHICAGO, April in wheat prices and a decline, in corn in comparison with a week ago marked the close of the week's trading change here tods on marked down from 2 to closed at $1.03% and July at $1.05%4, while May corn was quoted at 76%c and July corn at 78%. 26.—Siight im-) hibit trading in fu tially the bullish factors tures offset pay and left the market in an uncertain con- dition. the grain ex- Corn weakness was ascribed large- » While oats re-|ly to progress made in planting firm and provi- while a scarcity of offerings give vision pric follow strength to trading provision market sagged under tle influence of smal} export trade. Today's range of grain and rs in oats. The pro- Trading in wheat grew in volume Open High Low Cléde once, enter upon the practice of | toward the close of the week, due} WHEAT— law, and incidentally would become|to favorable influence on demand|May - 04 1.08% 1.03% & candidate for the senate. exerted /by the reporting of the Mc-|J¥ly « 06% 1.05% 1.0534 ‘The cnly truth in these rumors is| Nary-Haugen agricultural export | Sept. - 07 1.06% 1.06% the fact that the Wyoming man will} bill and reports of unfavorable | CORN— take the bar ca’amination at Wash-|weather for spring seeding in the 76% .76%5 ington instea/l of in Wyoming. He | northwest. The C: bill to pro- 78% has been studying for more than a |————_____ 3% year with thls in view, and his familiarity with jaw as a result of Lance Creek Gasser 47 485% 469% more than a quarter of a century At a depth of 3,600 feet the West-| J 44% 44% 44% in the house leaves him only pro-]¢rm States Off and Land company 4014 401% 4084 cedure to learn, Mondell has has brought in a ¢ Pr estimated | L. Ways been a student, and his wid at 8,000,000 cubdic feet Being close} } 10.65 10.60 10.60. expertence in interpretation and ap+|t0 @ recent completion of the Ohic 10.87 10.82 10.88 plication of Jaw gives him a founda: | With a production of about 1,500 bar- tion which, added to his studies | Tels of oll daily, the Western States since leaving congress, should enable h'm to pass the state bar examina- tion, AS one of the most active and valuable members of the War Fiaance corporation, Mondell has no present intention of rotiring from that servic: tS Dividend Is Promised A dividend of 4 per cent of $1 a share ts promised to the stockhold- ers of the New York Oil company, payable May 1, according to a cur- rent lettor sent out by E. H. Steiger, president of the company. The di. vidend goes to stockholders of re- cord December 31, 1920, since it was Promised three years ago. The company is out of debt ex- cept for one note for $193,000, pay- able Jan. 2, 1925, Gross revenues in the quarter on- ded March 81 were $399,146 and total expense was $100117, leaving a credit balance of $299,028 for the portod. This ia at the rate of 83 oénts a share for the three months. Tho balance sheet as of March 31 shows current assets of $382,901, of which $231,094 was in cash and our- rent Habilities of $57,296. There was outstanding at the time 358,786 shares of $25 par. ee Buck Creek Dividend. DENVER, Colo., April 26—With company plans to let the well flow] J for several days and then push deep- tr into the sand hoping that oil will be encountered. FREE LARGE COMPANY MAP THE FT. COLLINS OIL FIELD First authentic two-color map of the leases of the Union of Callfo tank batteries, valuable information. A good #0 send you—FR t of Doors,” “T' name on a post car drilling wells, Wil Thing C DENTON BR May July OF to be {ssued sho: fuel line, new derric » helps you—get th opyrighted booklet, ory of Fort Collins © Address— Ne will do. CK, WYO. rnia and other companies: alac OKERAGE CO., wing location: ck# and his one “The Biggest ist your = ther nn TRAIN SCHEDULES Chieso & Northwestea Westbound Arrives No, 608 -.W. erence SIEIB.' HS, Eastbound— Arrives No, 622... ~-———-4:46 p. m. Qhicago, Burlington & Quincy Eastbound Arrives No. 82... Ee No, $0... sae » Westbouna hea No, 29 ~-----_ 710. m, NO, | 81 oi cecesdecewensneenece=: 5 Dp. m. $300,000 available in the depletion reserve, the Buck Creel Of! coin- pany has declared its first dividend of 10 cents a share, payable June 1 to stockholders of record May 20, according to an announcement made Saturday. The coming dividend is not to be considered the beginning of a regular series of payments, quarterly, semi-annual, annual or otherwise. TRUST Safe Deposit Boxes for Rent CASPER’S LARGEST BANK LEAVE CASPER—ARKEON BUILDING| Leave Salt Creek ° 8 a, m. 9a. m 2:30 p. m. SALT CREEK BUSSES 3 Busses a Day Each Way Baggage and Express Called for and Delivered Salt_ Creek Transportation Company Tel. 144 The late Mr, J. P. Morgan remarked that he would rather ‘end 2 million dollars on Character than on the best col- lateral in the world. Credit and Character are inseparable because where there is no character, there can be no credit. The very term “to give credit” means “‘to trust in,” “to have faith in.” You can establish your own credit. Your ability to accu- mulate money is a test of character. strength to resolutely bank a part of your. income? WYOMING NATIONAL BANK SAVINGS Have you the COMMERCIAL sam 2pm 3 p. om