Casper Daily Tribune Newspaper, May 14, 1924, Page 7

ne SILVER Of This B Ancording to the Inland O!l In- -pipe line runs in the Rocky 'EDNESDAY, MAY 14, 1924, Oil :: Finance :: TOUNTAIN DISTRICT CRUDE RUNS LOWER light Falling Off in Salt Creek Accounts for Decline in Total Shown for Fields District. yuntain region for the week end-| Tea; d May Bess show a decrease of 2995 When compared with the rec- of the preceding week. Salt runs decreased 8555 barrels, average da!ly production in all Mountain districts for “week: ded May 3 was 129,010 barrels as pared with 132,055 barrels for preceding week. Comparative ly runs for each field for the ks ended May 3 and May 10 fol- NEW YORK, May 14.—Bar silver, 65%4° Mexican dollars, 49%. By GEORGE T. HUGHES (Copyright, 1924, by Consolidated Press Association) Sixteenth Article, Good farm mortgages are one of the best forms of investment. When well selected the security compares with that of high grade utility and railroad bonds. Tho return quality considered is a little higher than that on comparable bonds. ‘The rea- gon for this slightly higher return is the lack of markability of farm mortgages. As a rule the holder must wait untli.the mortgage ma- tures for the return of his money. He may by shopping around find a buyer but in that case he sacrifices something on the principal. Nev- ertheless farm mortgages make an especial appeal to the small city or town dweller in agricultural regions who has little opportunity to be- come acquainted with other classes of investments. Before high income taxes drove investors of large wealth into tax exempt securities a good many farm mortgages were pur- chased by men of this class. Life insurance companies have also been and still are large buyers of farm mortgages. Farm mortgages cannot be bought indiscriminately. Probably the saf- est way course is to loan on prop- Lost Soldier 5,075 Ferris ~. 150 145 Cat Cree! 4,575 4,950 Kevin-Sunburst . 5,100 5,125 Miscellaneous . 5 590 Totals erty Idcated in the immediate noigh- borhood where the investor resides. In this case he can check up upon the value of the land, its income pro- ducing capacity and the character of the borrower.» Also he is able to keep in personal touch with the status of his investment. It is, how- ever, not always possible for the in- yestor personally to find the kind of security he ought to have. Often his banker {s able to place the amount desired to be invested in a satisfactory farm mortgage. For such service a small fee {s charged. There are also mortgage loan com- pauies scattered throughout the rural distrigts which make loans on farms taking the first mortgage as security and then reselling the mortgage to the individual investor. In this case the borrowing farmer pays the foe. Before dealing with any such mort. gage companies, however, the in- vestor should satisfy himself of t! integrity, experience and conserva- tism of the mortgage company. The Federal Land Bank act has pro- foundly affected the farm mortgage business and many of the companies formerly dealing in these mortgages have retired from the field. With these Land Bank mortgage loans and bonds subsequent articles will pre- sent more information. Six New Producers Are Completed. Tn Salt Creek Six completions in Salt Creek are #thown by the Midwest Refining company in its current report. Combined initial production from these now wells amounts to more than 3,000 barrels dally, The com- pletions are given as follows: Midwest Oll—29-A, NEY of sec tion 14-40-79, 1,888 feet; 1,545 barrels. Midwest Oll—6-A, NW% of sec- tion 25-40-79, 1,481 feet; 1,300 barrels. Mountain and Gulf—7 AX, SEX of section 12-40-79, 2,423 feet; no test yet. Mid. Oil-W¥o, Asso.—3: of section 25-40-79, 120 barrels. Midwest Oll—11-A, NE of sec: tion 35-40-79, 1,508 feet; no flow, will shoot. Wyo. Of! Fields—11-A, section 22-40-79, 1,763 barrels. Other Midwest operations show the Neiber Dome test to be stand- ing at 3,740 feet while tho rig Is undergoing repairs. At Golden Eagle Dome the well is down 2,380 feet, being rigged up with cable teols after a rotary run, and now running a swagé. 1,678 feet; SB% of feet; 104 E. H. Steiger Re-Elected President of New York Oil Company In Meeting Featuring the meeting of the of- ficials and board of directors of the lew York Oil company here this week was the election of officers and report of the company’s finan- cial status. BE. H. Steiger of Milwaukee, was re-elected president, and Minal EB. par aaa aber se oi ana sel Foreign Exchange NEW YORK, May 14.—Foreign exchanges firm; quotations in cents, Great Britian demand 436%; cables 437. 60 days bills on banks 434%. France demand 6.9 cables 6.94. Italy demand 4.46; cables 4.46%. Belgium demand 4.99; cables 5.00, Germany demand per trillion .23%. Poland 37.32; Norway 13.85; Sweden 26.64; Denmark 16.94; Spain 13.88; Greece 2.04; Poland .000012; Cxecho Slovakia 2.94; Jugo Slavia 1.23%; Austria .0014%; Rumania .50%; Aregentine 33.00; Brasil 11.25; Tokio 40%; Montreal 98%. LIBERTY BONDS Liberty Bonds NEW YORK, May 14.—Liberty bonds clossd: 3%s $99.31; first 44s 100,13; second 4s $100.10; third 4%s $100.25; fourth 4%s $100.17; U. B. Govt. 4%s5 $102.2. Butter and Eggs CHICAGO, May 14,—Butter, iower; creamery extras, 37% @87%4e; stand- ard 87%; extra firsts, 36@37c; firsts, 344 @3514c; seconds, 30@ B3%40- ‘ Eggs, unchanged; receipts, 17,210 cases. Young was named to continue as the New York’s general manager. Those elected to the board of direc- tors were B, H. He'ght, Whitney ,G. Case, M. E. Young, Harry P. Hynds, A. G. Setter, Mrs. H. C, Curtis, M. 8. Crissey and John P. Herrick. That the New York Oll company is a strong organization In the ol! business here was shown in the fi- nancial report read by Mr. Young. This statement which covers the pe- riod of January 1 to April 30, 1524, follows: Revenue Domestic gas sales « $247,266.23 Industrial gas sales $7,382.17 Service charges .« 976.00 Gross revenue, gas dept.-$285,724. 40 Revenue, Wyo. . ¥. Oll, gas production... 18,654, 08 Revenue. vice dept. 6,022.52 Revenue, auto dept. 11,539.84 Miscellancous revenue . 2,774.89 Expense Natural gas purchased. .$ Field and well line expense Transmission expense . Distribution expense Gas dept. general and ad- ministration, expense .. 28 Total expense, gas dept...$ 79,819.20 Service dept. expense 9,926.66 expense..... 7,136.56 Automotive expense 10,617.68 Ol dept., general and ad. ministration expense Total expense $128,006.78 Net operating profit, uary 1 to April 30, 402,814.24 1924 depreciation and “depletion not taken. There was some mention of erect- ing an offfice building here, but the proposal was left indefinitely for fu- ture consideration, Jan- New York Stocks Last Sale wha Ty American Smelting and Refg 60% American Sugar wow 41% American T. & T. ----. 125% American Tobacos ~---------140% American Woolen = 68% Anaconda Copper -,.-----.-- 31 Atchiaon . --. 102% At. Gulf & W, Indies 16% Bamiwin otlve: 106 Lecom: Baltimore & Ohio -----.-----. 52% Bethlehem Steel ---..-------- 46% California Petroleum -.-.----. 22% Canadian Pacific Central Leather women ne-—--14I PCOS Tagg 1 44M 42% Chesapeake & Ohio ----..—-. 75% Chicago & Northwestern ~~. 58 Chicago, Mil. .& St. Paul, pfd Chicago, R. I. & Pac ~--.----- 28% Chile Copper Chino Copper --...--- Consolidated Gas Corn Products Cnsden Oil ~---------—~---= 28% Crucible Steel --..---------— 49 ‘Cuba Cane Sugar, pfd ------- 65 a, Famous Players-Lasky -~---- General Asphalt General Biectric -.---.. General Motors -..-.-... Great Northern pfd --------- 5744 woenn---- 62% Gulf States Steel Nlinols Central Inspiration Copper International Harvester Int. Mer, Marine pfd - ‘International Paper Invincible Oll ~.-..-... Kelly-Springfield Tire - Kennecott Copper —---.. Lima Locomotive_--. Louisville & Nashville Mack Truck Marland Ol) a Maxwell Motors --.. Mid¢le States Of] -. Missouri Pacific, pfd New York Centra! N. Y¥., N. H. & Hartford - Norfclk & Western --~.. Northern Pacific Pacific Ol . Pan American Pennsylvania -~.. People’s Gas -.-.--—-~--~---93%B Producers & Refiners -....-.. 24 ------ 34% Reading — Republic Iron & Steel -. Sears Roebuck .---. Sinclair Con. Oll Southern Pacific Southern Railway Standard Ol of N. J. aawenacne 33 Studebaker Corporation (new) 31% Texas Co,, ~--.--------ennn nae 39 Texas & Pacific .-.---.----.- 28% Tobacco Products A ~~------ 85% Transcontinental Oll ----. Unicn Pacific -.--.-----. U. 8. Ind, Alcohol ~---... United States Rubber -~...... 26% United States Steel -....----. 96 Utah Copper ~------~-------- 66% Wectinghouse Electric Willys Over'and -.. Amer. Zinc, Lead. & Sm. Butte & Superior -.. “elorado Fuel & Iron .. Montana Power . National Lead . Shattuck Arizona Anglo - Buckeye - Cuntinental Cumberland Caleny - OUnois - pseiene Prairie Oil Prairie Pipe CRUDE MARKET Cat Creek -------enwreeenennn-$1.95 Lance Creek o Osage ------------------------ Grass Creek light .. Grass Creek, heavy ~-........ Greybull Toreblight Rock Creek Salt Creek Big Muddy --.... Mule Creek Sunburst Ferris Byron Notches Pilot But Lander MONEY Ww YORK, May 14—Call money steady; high 3%; low 8%; rul rate 3%; closing Did 3%; offered at 3%; (Inst loan 3%. Call loans against acceptances 3%; time loanx easy; mixed collateral 60-90 days 4; 4-6 months 4%; prime commercial paper 4K @4% COTTON NEW YORK, May 14.—Spot cot- ton steady; middling $31.17, a Flour 1APOLIS, May 14.—Flour Bran $18.50 to $20.00. MT unchanged. Bonds :: NEWS AND QUOTATIONS BY LEASED WIR Che Casper Daily Cribune Stocks OIL SECURITIES Cent enesswnaneensn~'1.90 2:00 Central ewe Line’ -...1.85 . 2.00 Capitol Pete ------—- 1. 1.95 Consolidated Royalty 1.23 1.24 Cow Gulch ~-.-~~----- .03 05 Domino ~ --------------.08 -10 Elkhorn . ~----------- .02 04 EB. T. Williams -.----- .38 40 Fargo!. ----~.------= 06 08 Frantz - ewennnnnee6.00 6.00 Gates - ~..----..-----. .09 “aL Jupiter o ---..---- 00% .01 Kinney weree-- IL 13 Lance Creek Royalty -. .01 02 ---3.00 3.25 01 o-1.50 1.55 New York Ol} -------12.00 13.00 04 02 21.00 Royalty & Producers - .06 07 Sunset . --.-. 05 Tom Bell Royalty -. 02 03 Western Exploration -.3.50 3.60 Western States -..... 16 1.00 06 NEW YORK CURB CLOSING Mountain Prducers 17.87 18.12 Slenrock Ci i = ween enn -2e-- 10,00 S. O. Indiana -...... Chicago Prices. CHICAGO, May 14—(U. S. De- partment of Agriculture.}W—Hogs— Receipts, 15,000; mostly 5 to 10c higher than Tuesday's average; light receipts; destrable welghty butchers show maximum advance; bulk good and choice 250 to 350 pound butchers, $7,85@7.45; top, $7.50; better grades 160 to 225 pound weight, largely $7.20@7-40; most sales desirable 140 to 150 pound kind, $6,80@7.15; bulk packing sows, $6.70@6.85; killing pigs, slow, about steady? bulk good and choice 120 to 130 pound averages, $6.00@ 6.25; heavyweight hogs, $7.20@7.50; medium, $7.25@7.50; light, $7.00@ 7.45; Nght light, $5.90@7.35; necking sows, smooth, $6.75@6.98; packing sows, rough; $6.60@6.75; slaughter pigs, $5-00@5.35. Cattle—Receipts, 6,800; fairly ac- tive; strong to 25c highér; ight re- ceipts; killing classes, falrly active; beef steers, yearlings and better grades fat she stock, strong to 25c carly, ‘several ' loads $10.50@11.25; $8.50@10.50; best year- early, $11.25; stockers and Nebraska, bulk. fed steers and ings, teederg, firm; meaty feeders on coun- try account. i @ yesterday, $10.80; ,| bulk stockers and feeders, $6.75@ 8.50; several) loads desirable beef heifers, €8:25@9.00; somo bid $9. fat cows of valle to sell at $6.00@ 3.00; ‘showing most advance: lower Grades and canners and cutters rather slow; bulk bologna bulle, $4,75@5.99; few light bul $4.60 and below; veal calves, firm, at 9.25@10.00,° mostly: outsiders pay- log upward to $11.50; few loads choice calves to packers; $10.50. Sheep—Receipts, 9.000; very slow; few early sales fat clipped lambs, looks weak to 25c lower} sheep, steady; early bulk clipped lambs, $13.75@14.50; some held at $15.00 and above; no early sales. wooled lambs; odd lots fat clipped ewes, $8.00. Omaha Quotations OMAHA, Neb.,» May 14.—(U. 8S. Department of Agrioulture)—Hoga —Receipts 9,500; mostly 10c higher; bulk 210 and 300 pound: butchers $7.00@7.10; top $7.15; good 160 to 210 pound weights $6.75@7.00; medium Ughts $6.60@6.75; packing sows mostly $640; few desirable weights $6.50; average cost Tuesday $6.36; welght 244. Cattle—Receipts 6,200; active; kill- ing quality improved; beef steers and yearlings 25c. higher; bulk $8.00@ 11,00; few laods $11.00@11.6: canntys, cutfers and vealers bologna bulls 10@15c highe stock: ers and feeders scarce, steady; bulk butcher cows and heifers $5.00@8.25; canners and vealers' top bulls $4.25@4. ers $6.75@8.00. Sheep-—-Recelpts 4,000; active; steady to strong, wooled lambs § @17.20; top $17.20; clipped lambs $15.00; clipped ewes $7.00@7.50; shearing lambs $16,50. cutters $2.35@4.0 $9.50@10.00; bologna ; stockers and feed. Denver Prices. DENVER, Colo, May 14-—(U. 8, Department of Agriculture.)—Hogs Receipts, 16,000; very slow; open- ing sates, steady to 10c higher heavyweights, $7.10; desirable to 280 pound averages, mostly $6.00 @7.00; packing sows, steady, mostly fat pigs, $5.50 to $5.7 grade, §5.00. Cattle—Recelpts, 1,400; one half of run southerners on through bill- ing; bulls, strong .to 25c higher; other classes, fully steady; desirable cows, $7.50 to §8.50; few heifers. $8.25; others, $7.75; common mixe cows, $5.00 to $6.00; fat bulls, $ to $5.00; steers, $8.50 to $9.10; y lings, $7.00 to $8.50; desirable veal ers, mostly $11.00. Shoep—Receipts, 4,200; active; fat wooled lambs, mostly 10c higher; top, $16.70 for 80 to 84 pound aver- 78 to 87 pound averages 3; few odd lots, $16.40 to $16.45 flat; no other class stock Woods Filling Station, car wash- ing anf greasing. Phono 1920W, Lagt Yellowstone Highway and A, ' Grain :: Livestock SELLERS MULE [WHEAT PRICES] 2 STOCK TRADING ARE UNCHANGED) ¥ Reaction Sets In and Many Issues Slump to New Low Records NEW YORK, May 14.—Stock prices turned decidedly reactionary in today's market on a resumption of bear selling by prominent Wall Street traders. More than a score issues sagged to new low prices for the year while Reading Coal showed outstanding independent strength. Sales approximated 700,000 shares. NEW YORK, May 14.—Stock prices moved within narrow and irregular limits at the opening of today's market but the main trend appeared to be upward. Steels and oils improved fractionally on short covering, but heaviness again cropped out in the sugars and rub- bers. Willys Overland preferred dropped 1% to 64%, a new 1924 low. Rails were firm with Atlantic Coast Line moving up 1%. Stock prices continued to point upward in the early trading. At- lantic Coast Line extended its gain to three points and Louisville and Nashville moved up 2% to a new 1924 top at 94%, New York Dock common and preferred climbed 3% and 1% points, respectively, to new high prices. Gains of a“point or so were registered by more than a dozen issues including Marland Oil, Stewart, Warner and Philadelphia and Reading. Losses of approxi mately a point each were registered by Punta Alegre and Cuban Ameri- can Sugars, the first named touch- ing a new 1924 low at 63%. DuPont broke nearly three points to a new low at 115%. Foreign’ exchanges opened firm. After the first batch of overnight buying and selling orders had been disposed of, trading quieted down, with price movements showing con- siderable irregularity. Chief ac- tixity centered in the rail and coal shares, Philadelphia and Reading Coal extending its gain to three points and Lehigh Valley and Read- ing “Bights" ench moving up 1%. Milinols Central also was pushed up a point. Early heaviness of Chesa- peake and Ohio was attributed to speculative disappointment over the failure of the directors to, increase the regular dividend. Wilson com pany common and preferred dropped to new..1924 lotvs at 55% and 20 respectively, and Punta Alegre and South Porto Rican Sugars each ex- tended their losses to two points. Maxwell A and United States Rub- ber first also dropped a point or so. Call money opened at 3% per cent. Effective selling pressure against Baldwin which ran off 1% points to 100% a new low figure for the year and acute weakness In a variety of Specialties caused a withdrawal of the support extended to the popular industrials in the early dealings and the whole market dropped. American Can and U. 8, Cast Iron Pipe were supplied freely also General Electric, United States Rubber, first prefer- red, Central Leather preferred and Associated Dry Goods. Philadelphia and Reading coal and iron, however, continued to creep up, touching 47. The closing was weak Short selling gperations became more ag gresrive in the {ate trading. Nor- folk and eWstern, Dupont, Strom: berg and Associated Dry goods dropped 2 to 3% points and Na- tional Ename'ing preferred broke 9 to a new 1924 low. SHIPCHARGE 1S BRANDED FALSE (Continued From Page One) before I became secretary of state. “When along time afterward, learned that the shipping board had brought questions relating to the ves. sel before the department of state, I declined, because of my previous connection as above stated, to have anything to do with it, The matter was handled exclusively under the direction of Mr. Philips, the under secretary dn the advice of the solict- tors without any reference to me, ‘I did not discuss the questions involved with any one in the depart. ment and gave no instructions of suggestions directly or indirectly as to what should be done. I did not even know what had been done about it until a short time ago when one of the newspaper correspondents mentioned it.” SUGAR NEW YORK, May 14.—Refined sugar was unchanged at 7.15 to 7.60 for fine granulated, Refined futures were nominal, Sugar futures closed firm; ap- proximate sales 70,000 tons. May $3.01; July $4.01; September $4.08; December $3.77: POTATOES CHICAGO, May 14,—Potatoes trifle stronger on old stock; receipts 42 cars; total United States ship ments 675; Wisconsin sacked round whites $1.10@1,40; mostly around $1.25; Wisconsin and Michigan bulk round whites $1.30@1.40; Idaho sacked Russets $1.90@1 New stock easy; Texas sacked Bliss triumphs — $4.76@5.00; Alabama sacked Triumphs No. 1, $4.50@4.76; field run §3.60@3.75; Florida bur- reled Rosy mostly $8.2 ——— 2 2 Wyoming Motorway 222 Early Advance In Chicago Wiped Out by Late Sell- ing Movement CHICAGO, May 14.—Wheat prices showed firmness early today owing more or less to scattered buy- ing based on unfavorable crop re- ports from Illinois and adjoining states and on higher quotations at Liverpool. Advices that strikes in Argentina had been renewed tended also to ft values. Besides, selling was restricted by unseasonably cool weather northwest and the uncertain outlook regarding farm legislation at Washington. Opening prices which ranged from shade decline to {0 advance, with jay $1.04% to $1, 04%, and July July $1.06% to $1.06%, were follow. ed by‘slight gains all around. Later the market was eased down by orders to sell which were in the hands of commission houres. Set- backs, however, proved transient. The close was unsettled at a shade decline to %c advance, May $1.04% to $1.04% and July $1.06% to $1.06%. Weather too cold for planting and sprouting gave an upward trend to the corn market. After opening at tc off to %c advance, July 76%c to 76%c prices sagged a little and then scored gains, In the subsequent dealings, corn paralleled the action of wheat. Corn closed unsettled, a shade to %c net higher, July 76% to 7644, Oats were firm in sympathy with other grain, starting unchanged to %4c lower, July 48%c to 44c but then hardening all around. Upturns in hog values steadied the provision market. Open High Low Close PAGE SEVEN. All Markets FOREIGN, Czechoslovak Rep., 80 Ctfs. -—. Dominion of Canada, 5s, 1952 French Republic, 74s -------. Japanese ds... Kingdom of Belgium, 88 Kingdom of Norway, 68 Rep. of Chile, 8a, 1946 arte ot Queensland, 6s U. K. of G, B. & L, 5%, 37 ~. Railway and Miscelian: American Smelting Sa .------.-------. American Sugar, 6s ------.... American Tel. Col., tr. Anaconda Copper 7: Anaconca Copper 6s, 1955 At. T. and San Fe., gen. 4s -. Baltimore and Ohio, ev., 44s Lerblehem St Canadian Pacitic deb., as _.. Chicago, Burlington and Quincy” ‘Tet Chicago, Milwaukee and St. Paul c Chile Copper 6s Goodyear Tire 8s, Great Northern, 7s A -~----—. Montana Power, is A_. Northern Pacific ret. 6s B enn. Northwestern Be!l Tel..: 7s -.. Pacific Gas and Electric 58 Penn, R. R. gen. Sinclair Con. Oil.. col. Southern Pacific cv., 4s Union Pacific first 4s U. 8, Rubber 5s Utah Power and Lig! Western Union 6%» . Westinghoure Electric 7s -. Wilson and Co., cv., 6s . BILLINGS, Mont., 4.— Gusher production of a very high grade of ofl has been encountered in the Hepp well of the Midwest Re ng company on the Big Lake structure .of the Lake Basin, 30 1.05 1.04% 1.04% 1.06% 1.05% 1.06% 1.07% 1.06% 1.07% 76% 75% .76% 78% 47 76% 16% 15% 76 A6% 46% 46% 44% 43% 44% 29% 39% 30% 39% --10.67 10.67 10.65 10.67 Sept ------10.92 10.95 10.90 10.92 RiBs— July -. 9.95 9.87 9.85 9.87 Sept. - 10.00 BELLIES— July -. 10.45 Sept._,---- 10.70 Flhx DULUTH, Minn., May 14.—Close flax May $2.50; July $2.41%; Sep- tember $2.18%. Cash Grains and Provisions CHICAGO, May 13.—Wheat No. 3 red $1.06; number 2 hard $1.06%@ $1.15%. Corn number 2 mixed 77\c; number 2 yellow 77% @%@o. Oats No. 2 white 48% @50c; number 3 white 48@48%0c. Rye No. 2,66@ 66%c: Barley 69@79c. Timothy seed $5,00@$7.25. Clover seed $10.50@ $18.50, Lard $10.47. Ribs $10.12. Bel- Mes $10.25, METALS Ww YORK, May NI 14.—Copper quiet; electrolytic spots and futures 13% @13\%. ‘ Tin easter; Spot and nearby $46.00; futures $44.87; tin steady; northern $20.00@$21.60; no. 2 south. ern $22.00, Lead steady; spot $7.37@ $7.50. Zinc quiet; Bast St. Louis spot and neary $5.00@$5.00, Antimony $8.37, RENEWS FIGHT OW EXCLUSION (Continued From Page One) vmake a stand against several pro- visions of the immigration bill as ap- proved by the conferges but took no exception to the Japan exclusion section, The insurgents objected to the senate provision which would place immigration quotas on a race origin basis after 1926, and to cer- tain provisions which they declare would nullify a section of the La- Follette’s seaman’s act with regard to landing of allen seamen at Ameri can ports. FUNERAL OF ED GOYLE | TO BE HELD THURSDAY Burial Mis, who died services for this id Coyle of morning, will be held tomorrow afternoon from the Shaffer-Gay chapel at 8 o'clock the Rev. Preston officiating. Sur- viving Coyle are his wife and @ gon, George. An employe of the Mid- west, Coyle lived here for the past four years, hid PACER TOO LATE TO CLASSIFY Position as housekeeper | of childrer Box B for rent. 112 WANTE: perienced — telephone operator at onee, B-551 Tribune | CARPENTER work wanted; new| building and repair work. inet. work, cement work contractor, W. J. Hume, 2535, miles ygrthwest of Billings in Still- water county. Present indications give the well status of the most im- portant discovery in Montana, say experienced ofl men. The well blew itself in at 8 o'clock Monday night and under the impetus of tremendous gas; pressure gushed pT hye sarees 96% 95% eh Lk oe 81% 87% i con., 68, Series A -------2 96% 96% 96% 99% 99% 99% ——~— 95% 95% 95 74 GUSHER PRODUCTION STRUCK BY MIDWEST IN WILDCAT ON LAKE STRUCTURE, MONTANA over the top of an 84 foot derrick at intervals of between three and four hours during the night Early Tuesday. morning a crew of the Mid-Northern Oil company a subsidiary of the Midwest, which has been drilling the lease, succeed- ed In shutting the oil in by use ofa swedse nipple. While officials of the Mid-North- ern would make no estimate of pro- duction rapidity with which the cas- ing fills makes estimate of 1,500 barrels a day seem conservative. Market Gossip and Briefs On Operations in Oil Fields Marine Oil Operations. In the Salt Creek field on section 5-39-78, operated by the Marine for the Wolverine, tools are being moved in getting ready to rig up for CR-3. DS-3S on section 9, also operated for the Wolverine, has been plugged back from the third, to the second Wall Creek sand, and is now yeing cleaned out. On section 20-39-78, 2,422 feet of 8%-Inch casing has been run for Taylor 5, and the well is now. at 2,485 feet. Taylor 6 is at 1,336 feet, the rig is being built for Te and the material for Taylor he ground. The operation of the property of the Wyokans Oil syndicate has been takeh over the } ine's organization, The Wyokans is being rebuilt, section 18-40/78 is b The rig has been completed for No. 4 on the same lease, and the loca- tion has been made for No. 5. On section 22-40-79 No, 1 is being cleaned out and, the gas engine is being set for No. 2. 8 is on camp Steel Creek Report Test of Steele Creek in Johnson county being drilled by the R. C. Tarrant syndicate, is now down 2,- 0 feet pected « with thi sand ex- Research Laboratory. LARAMIE, Wyo., May 14.—That the bureau of mines, department of the interior, will establish a petro leum research laboratory at the University of Wyoming is assured through voting of the appropriation and senate, and President fleld | A. G. Crane has been advised by H. Foster Baines, director of the bureau, to have quarters ready by July 1. D. B- Dow, now of the Bartlesville, Okla., laboratory, ts to have charge. Only two other schools in the United States have such laboratories, New York Meeting Attending a meeting of the of- ficers and board of directors of the New York Of] company here this ok, were H iger of Milwau. Whitney G, Case of Buffalo, N. . Harry P. Hinds of Cheyenne, Al onzo G. Setter of Cattaraugas, Harriett G. Curtis of Celoron, id Miss H. M. A son of James. town, N. ¥, Mr. Stelger was re elected president of th company. Wyoming Olls NEW YORK, y 14.—Prices of Wyoming olls at 2 p. m. today were listed on the New York curb as fol lows: Standard Of] Indlana 66; Boston Wyoming 75 fountain Producers 18%; Mutual + New York 11; Salt Creek 24%. Will Drift Again Materials for a fifth well in Billy k field are being hauled to tc tlon by tt Of! company Graham w will be pushed to 5,000 sary. The rig n rebuilt, NOTICE Beware and all would-be stree your own office locks for memberships ciation is doing—you enough said Your These 49 Get Shoulders to Mem NOTICE Drilling To Be Resumed Special Attention, Action ANNA BELL WYO. OIL COV’S ASSOCIATE MEMBERS There Are Some 49 Memberships Yet Open for Subscription, $110.00 Each Beware -- Beware Keep your eyes open and be on the lookout f , bucket-shop broker binders, seeking or trying to buy interest or tr of any membership, other than securing same trom A scramble is on amongst some shy- You know ber NOTICE know what what i your Agso- on board— ' Wheel, and ships This Week Let's Place ANNA BELL WYO. OIL CO. TRUST 220 Midwest Building, Casper, Wyo. W. E. PATTON, President and General Manager J, N. LEWIS, Financial Agent | | —————————