Casper Daily Tribune Newspaper, June 11, 1924, Page 7

WEDNESDAY, JUNE 11, 1924. Oil ~ _Everyman’s Investment = I am often asked to outline a’ n for systematic savings. This not an easy task simply because requirements and tem- 1 nts differ so widely. A few eral principles, however, can be d down. ‘The first is that tho matter of life insurance should be cared for before nything else is don Next for most people a few shares in a build- Hng and loan association operating Mocally are very desirable. Both with life insurance and with bulld- Hing and loan savings regularly is ‘practically compulsory. You have 0 pay the premium whenever the me comes around and if you fail o pay your building and loan dues ‘ou are subject to.2 small fine al- though there are some hd hich have . plans. whereby the and the period of the pay- ents is optional. For the average it is better that he feel. com- to put aside the sum regular- ly. Supposing these methods to have n already adopted it is next in order to take thought about securi- ties. Nowadays so many bond issues fre available in. denominations of $100 that there is no excuse for those even of small income not being able to. make sound investments. It is more a matter of acquiring a habit than anything else. It is surprising to see how much may be saved when the attempt is honestly made. Of equal importance to the saving of the funds necessary to buy the securities is the reinvesting of the interest or dividends. At the begin- Employment on a $100 bond. The amdunt is too small, Yet this is very important if one is to make a start cumulating a surplus for old age. Probobly the best way is to make it an invariable rule to deposit the pro- ceeds of each investment In the sav- ings bank as they come along, this assuming of course that Mving ex- penses ure covered out of weekly eernings, Most savings banks will accept bond coupons or dividend checks as deposits thus obviating the necessity of having them cash- ed. Probably you will find it pos- sible from time to time to make other Everyman's Investment’s—By George T. Hughes—Twenty-ninth Article—Page 2—deposits whenever there are any unexpected receipts such as a bonus from your employ- er. In any case the amount in the savings bank should be left undis- turbed at least six months in order to benefit by the interest the bank pays. After that time it may be withdrawn for the purpose of buy- ing some other security as the amount saved may warrant, The in- terest on the new security in turn should be deposited in the savings bank and after a few years progress will be amazing. A word of warning should be ad- ded not to begin too ambitiously. If you do you are apt to become dis- couraged and abandon ‘the whole scheme, (Mr, Hughes’ thirtieth article will appear in the Tribune Saturd: Conditions in Wyoming Reported Good Employment conditions in Wyom- ing at this time are shown in the report of the Denver office of the de- partment of Jabor, as follows: General — Employment increased during the past month and resident Jabor is now well employed. As a Presult of misleading and unofficial Snformation that work is plentiful here an influx of transient labor has caused a surplus in nearly all classes of workers. There is a gradual in- crease In demand for farm iabor, with the local supply sufficient, Coal mining continues on a two to four day a. week basis and many of the miners are securing employment on the farms. Due to adverse weather oil field activities have been some- ‘what retarded, but considerable. ex; Pansion in the Salt Creek fields is getting under. wi The pullding end municipal improvement pro- grams are quite extensive in ‘the larger cities; building labor amp! Industrial plants are active, most of them running at capacity, The larg highway construction» program is well under way and providing em- ployment to a large number of’sea- sonal workers. ~ While: much employ- ment is afforded in new railway con- struction, railway-shop employment cortinues on a curtailed basis. Cheyenno—The supply of and. de, and for local labor of all classes are about equal. There is, however, ® moderate surplus of transients. Demand for” agricultural labor to supply adjacent territory has matey jally increased during the past month, An extenstve municipal pav ing program, amounting to approxi- mately $500,000 is well under way and provides employment to a large number of men. Industrial plants continue operations on a steady basis except the railway shops, which are on part time schedules. Casper—A surplus of all classes of transient labor, especially com- mon laborers, exists in this city, al- though industrial plants are run ning at capacity. Ci for ranch hands are gradually increasing, with a supply available. Much employ- ment, principally for’ common’ labor, is being afforded in connection with the extensive municipal improve- of paving, sewers, Rock Springs—Coal’ mining, the main industry in this community, continues part time operations and coal miners are - provided employ- ment hut from two to four days a wek. Lambing and sheep-shearing In outlying vielnities are ffording temporary employment to many of the miners,’ Hayling, just com: mencing, will also provide employ- ment to a small number of men. ‘) Market Gossip and Briefs On Operations in Oil Fields Big Lake Proven Continuing the test of the Big Lake structure in southern Montana after encountering a thin stray sand at 3,825 feet that raised great hopes and then dropped them, the Midwest tefining company topped the real Dakota sand at around 3,860 feet. This sand bas been penetrated 32 feet and is producing between 600 and 1,000 barrels of ofl daily . This discovery proves the field and will bring an intensive campaign of de- velopment. Ten Salt Creek completions are shown in this week's report by the Midwest Refining company. In 4 number of cases shooting will be ©) done to increase production. These i enw completions made on various leases Wald by interests identified with the. Midwest, are as follows: Midwest Oil company— wee. 23-40-79, 1, 543 feet rels, Wyoming Associated—34-A, NEM Bec, 2-39-79, 1,847 feet; 109 barrels after shot. Wyoming Associated—13-A, NEY Bec, 24-40-79, 2,118 feet; 130 bar- rels before shot and 320 barrels af- ter shot. Mountain and Gulf—19-4, NEY 18-40-79, 2,097 feet; 175 barrels. Midwest Oil company—9-AX, NB sec, 22-40-79, 2,072 feet, shoot, Salt Creek Consoliqated—21, SEY 3-39-79, & feet; completed Je well and now pumping NEW 249 bar- Consolidated — 18-A, SsW% 39-78, 2,293 feet; will shoot. Mountain and Gulf—8-AX, SW 6-39. 2,054 feet; will shoot. ‘est Oil and Wyoming Asso. d—18, SE% sec. 36-40-79, 775 t; completed as a shale well and ping 146 barrels. Balt Creek Consolidated—24-A, sec, 7:39.78, 238 feet; will Bec. S) Bhoot A At Netber Dome the Midwest is drilling its test well at a depth of 3.880 feet. According to the Inland Ol] Index Hpipe line runs from the various Fields in the Rocky Mountain region Pfor tho week ended June 7 showed a of 2 barrels, when m compared with the record for the preceding week. Total we daily production in all Mocky Moun. tain dist ended decrease ave ts for the week June 7 was 128,515 barrels, as com: Pared with 131,440 ba is for the preceding week. Comparative daily runs from each field for the weeks ended June 7 and May 31 follow; Fields— June 7 May 31 Sait Creek -- 91,135 90,600 Teapot 3,000 = 2,878 Big Muddy 3,950 Grass Creek .... 3,900 Elk Basin -... 1,285 Greybull, ete —. 70 Mule Creek ~.2.. 1,090 Rock River 3,250 Lanco Creek 1,920 Poison Spider 1,015 Osage 2... 520 Hamilton Dome ~ 7 Pilot Butte Lander Kevin-Sunburst Miscellaneous Totals eel 28,515 131,440 The daily average gross crude oil production in the United States for the week ended May 31 was 1,983,- 400 barrels, as Compared with 1,980,- 200 barrels for the preceding week, an increase of 3200 barrels. The dally average production east of the Rocky Mountains was 1 barrels, as compared with 1,33! barrels, an increase of 13,450 bar: rels. Callfornia Production was 621,250 barrels, as compared with 641,500 barrels, a decrease of 10,250 barrels, Santa Fe Springs is reported at 68,- 000 barrels againat 70,000 barrels: Long Beach 165,000 barrels against 170,000 barrels; Huntington Beach 43,000 barrels against 49,000 barrels; Torrence 58,000 barrels, the same as the preceding weelk and. Domin- guez $500 barrels against 8750 bar- rels. Receipts of California crude and refined olls at Atianta and Gulf Coast ports for the week ended May SL totaled 650,000 barrels, a daily average of 92,! barrels, against 1,197,000 barrels, a daily average of 171,000 barrels for the week ended May 24. Imports of crude and refined olls at the principal ports for the week ended May 81 totaled 1,870,000 bar rels, « daily average of 267,143 rela, compared with 000 rels, a dally average of 218,2: rels for the ar bar. For results sified Ad. try a Tribune Clas Che Casper Daily Cribune Stocks :: Grain NEWS AND QUOTATIONS BY LEASED | Allied Chemical & Dye ----- American Can --.-~--~----. American Car & Foundry American International -. American Locomotive -~--- apap Smelting & Refg-- Ame Sugar ----.--. American Tel & Tel —-. American Tobacco American Woolen -.-.. Amer, Zine, Lead & Smelt. Anacon(a Copper -. Atchison Atlantic Coast Baldwin Locomotive —----.. Baltimore & Ohio. ~--.....--- Bethlebem Steel - California Petroleum Canadian Pacific Centra] Leather -. oe Cerro “de Pasco ---~-.------ Chicago, Mil. & St. Paul, pfd Chicago, R, I. & Pac. ---. Chile Copper ~. Colorado Fuel & Iron ~~~. Congoleum . -----.-. Consolidated Gas = ~----<-- Corn: Products, new -------- Cosden Oil oe Crucible Steel . Cuba Cane Sugar, pfd Davison Chemical - -. Du Pont de Nemours Brie - -... BPamous-Players Lasky General Asphalt ~~ General Electric General Motors -. Great Northern, pfd -. Gulf States Steel ~... Houston OW ~~... Iinois Central Mer. Marine pid Tel & Tel - Invincible Oil ~. — Kelly-Springfield Tire’ Kennecott Copper — Louisville & Nashville Mack ‘Truck Maxwell Motors Middle States OM — Missourl, Kan. & Tex. -. Missourt Pacific, New York Central ~ N. ¥., N. H. and. Hartford. Norfolk & Western Northern Pacific“ .- Pacifie Ol .--..-----. Pan American Petroleum Pennsylvania Producers & Refiners Pure Ol] - Reading - -. Republic Iron olds Tobacco Seaboard Air Line Sears Roebuck ~ Sinclair Con. Slors-Sheffleld” Stee! Southern Pacific Southern Railway -~_- Southern Railway. pfd - Standard Oi! of Cal _ Standard Oil of 2 Studebaker Corpor Transcontinental Of] Union United Drug U, S. Cast Iron Pipe - C. 8. Ind. Aleohot United States Rubber United States Steel Utah Copper Westinghouse E Willys-Overland Woolworth Standard Oil Stocks Anglo - .. Buckeye ~ Continental n--- 14% 15% 63 wennne 62 MInois In@ana Pipe =~ Ohio Oil Prairie Ol) Prairie Pipo vr Reét Pipe Sou. Lance Creek ------enneenene-= 1,90 Osage = 1.90 Grass Creek coenwenacene I. light ‘Loreblight Mk Bas! Rock Ci Balt Creek —-~--.------=~. Sunburst ~....-.-----.. Hamilton Dome ... Ferris -..ccncnceeee: Byron ---------. Notehes -...----.-0--------02= Pilot Butte Lander --.. NEW YORK, June 11—Call money easy; high 2; low 2; ruling rate blank; closing bid 2; offered at 8%; last loan 2; call loans against ptances 1%. Time loans easy; mixed collateral, 60-00 days 3%; 4-6 months 3% @4; prime commercial paper 4@4%i _— Tribune wantads bring results, ‘ Central Pipe --.------ 1.90 Consolidated Royalty ..1.17 Cow Guien Domino --. Elkhorn BE. T.. Willlams ~. Fargo Kinney Coastal Lance Creek Royalty Marine -----------. Mike Henry -----0---- Mountain & Gulf --.5-.1.40 Picardy. ->----<iew = 003 Royalty & Produ Sunset . - Tom Bell Royalty Western Exploration - 3.50 Western States ------- .14 Wyo-Kana Y. Oll -----. NEW YORK CURB CLOSING Mountain Producers - Glenrock Olt Salt Creek Prds Salt Creek Cons: 5. New York Oil ~. Prod and Retrs Cosden - —--.~. S. O, Indiana —...... CHICAGO, June. 11—Hogs— 32,000; slow, mostly 10 to 1$c lower; light lights and pigs 15 to 25e off; large receipts; bulk good and choice 270 to 340. pound butchers. $7.15@ 7.20; top $7.26; desirable 180 to 250 pound weight $6.90%7.10; bulk bet- ter 140 to 170 pound averages $6.25 @ packing sows largely $6.20 3.50; good and choice strong eight killing pigs $5.75@6.00; heavyweight §7.00@7.25; medium weight $6.90@7.15; ight weight $6.50 @7.10; light lights $6:60@6.80; pacie Ing hogs smooth $6.3546.66; pack- Ing hogs rough $6.15@6,35; slaugh- ler pigs $5,00%6,00. Cattle — Receipts, 14,000; fed steers; yearlihgs and beefers open- ing 15 to 260 lower; very little done largely steer run: killing quality fairly good; water fills Mberal; most buyers, holding back early top ma- tured steers $11.00; few joads year- lings and fed steers $8.50010.50:. some weighty fed steers: held above $11.00; fw loads hay fed Montanas to feed unevenly lower; excepting few early sales’ to outsiders; bulls steady some higher; vealers steady at $9.50@10.50 to packers; stockers and feeders moderately active. Sheep—Receipts, 13,000; Jambs moderately active; 25e to 50c lower; best range spring lambs $17.25; bulk native springers $16.50; fed lambs $14,75; cull native springers mostly to emall killers around steady $12.00 @12.50; sheep scarce;bidding around steady; no early sales. OMAHA, ceipts, 18,501 bulk 220 to June 11.—Hogs—Re- mostly 10@15¢ lower; 5 pound butchers $6.65 @6.30; top $6.80; desirable 160 te 220 «pound weights $6.25@6 plainer lights $5.76@6.25; bulk pack ing sows $6.00; few desirable weights $6.10; bulle of all sales $42 @6.80; average cost Tuesday $6.67 welght 247 pounds. Cattle—Receipts, 11,000; beet steers and yearlings lower; yearlings off mos 10.6 steers and yearlings shipping cows and heifers, scarce, moderately active, stead others dull and 15c lower; now bidding 15 @25c lower; stockers and feeders nominally steady; bulk butcher cows and helfers 4.50@8.60; canners and cutters. $2.25@3.75; practical veal top $8.50; bologna bulls $4.50@4.85. Sheep—Recetpts, 9,000; moderate- ly active; Killing classes. strong to 250 higher; considering wet flee two loads choice 8& pound. clipped lambs $19.90; native springs, mostly $15.500716,00; medium grades $11.50 @12.50; Tdahow $16.25@16.50; Meht and handy weight ewes $5.25@5,50; feeding lambs $12.75. slow; 10@15e , June 11,—Hogs—Re- nround steady; desirable 0 to $6.80; top $6.80; few drive ins down to $6.60; 125 to 246 pound 75; packing sows Cattle receipts 2,400; calves 50; over half of run southerns; bulls steady; medium to good henavies $4.00 to $4.70; calves weak; practical top $10.000; other classe dull; prac tleally nothing sold earl: talking unevenly lower; fow loads medium to fairly good heifers $6.65 to $7.00. Sheep Receipts 2.700; few 79 pound wooled lambs steady at $14.50 flat; seven loads 69 pound Idaho apring lambs $15.50 fla Foreign Exchange MARKET FOREIGN XCF NEW YORK, June, 41 exchanges firm; quotation: Great Britian demand 470 15-16; enbles 431 3-16; 60 day bills on banks 428 1116. France 609%; cables 530. Italy demand 435; cables 435, glum demand 453; cables 459. many demand per trillion 23 land 3732. Norway 1246; Grece 170 Poland .000012; Czecho Slovakia 292 Jugo Slavia 119; Austria 001 Rumania 43; Argentina 3262: 1080! Tokio 41 3-8 NGE. reign For results try a Tribune Clas- wified Ad. WHEAT MARKET TURNS UPWARD Close Unsettled But High- er—Corn Also Scores Large Gains CHICAGO, June 11—Subsequently the wheat market took a decided upward swing. The close was un- 2 to 2% net higher, July to $1.1013 and September 2 tae Later the corn market scored temporary gains, owing chiefly to wheat strength December corn outceing the season’s previous top record price. The gorn market again weakened, however, and closed heavy, %c to 1c net lower, July 80 to 801%c, With talk current that export bids were nearly on a workable bas- is, the wheat market averaged a lit- PAGE SEVEN. Livestock :: All Markets Corn No. 2 mixed 81 No. 3 mixed 80% @81c; No. 4 mixect 7715@ 801%; No. 6 mixed 77; No. 2 yellow 8144@S820; No. 3 ellow 80% @ 81%4c; No. 4 yellow 79%4@S8lc; No. 5 yellow 79% @80%c; No. 6 yellow T56@T6c; No. 2 white 81% @82; No. 4 white Yo. 5 white 7913. sample grade 65@751i¢. Oats No. 2 white 60% @51%$; No. 8 white 504% @51%; No. 4 white 49 @50%. = ye No. 1, 73c, Barley 774% 78¢ Timothy seed $5.00@$7.25. Clover weed $11.00@$16.50. Lard $10.20. Ribs $10.00. Bellies $10.25. Open High Low WHEAT— July Sept, 08% 1.11% 1.08 09% 1.14 1.09: 112% 116 112% 81 80% -T4A% 19% 79% 73% tle higher in price today during the J early dealings. Trading was ac- th and December touched a new high price record for the season. However, there was much pressure from profit taking sales on account of # big advance since Monday's close. Opening quotations which varied from unchanged figures to “ec higher, July $1.081 to $1.08% werg followed by a slight sag and then something of a rall: Warmer weather tended to ease down corn and oats, After open: ing unchanged to %c lower; July 80 to 80%e, the corn market un- derwent a moderate general set- back, Oats started at % to %c off, July 47 to 47% and later continued to decline. Provisions were weaker in sympathy with hog valuel Wheat No. 3. red $1.09 hard $1.10% @$1.13; No. $1.09%4 @$1.1544; No 3 hard $1,094. CHICAGO, June 11,—Butter lew. r; creamery extras 39; standards extra firsts 38@38%4; firsts 361% %; seconds 33%433%4. 8 higher; receipts 16,838 casi firsis 2444@25; ordinary firsts 23@ 23%; storage pack extras 26%; firsts NEW YORK, bonds -closedy Stee 100.13. 4%s 101.21. Second 4%s Third 4%s 101.20, Fourth 101.24, U, 8. government 103.21. June a1 PROVES FIRM Gains From Fractions to Two Points Are Re- corded Today NEW YORK, June 11,—Broad in- quiry for railroad and popular in- dustrial shares lifted stock prices At the opening of today’s market, gains ranging from moderate frag- tions to two points. Investment buying of the rails was reflected in the strength of Atchison, New York Central and Norfolk and Western Several high priced specialties, in cluding General lectric, National Lead and Woolworth jumped 1 to 2 points in active trading. Continued absorption of low Tylced railroad shares, notably those af the southwestern group furs nished an impetus to bullish opera- tions in other sections of the lst. Oil issues moved higher despite an- nouncement of a reduction in the price of Smackover crude, empha- sizing the market's growing indif- ference to unfavorable je devel. opments, Public utilities stocks also pressed firmly ahead. New 1924 high records were established by Missour! Pacific preferred, Pub- Ne Service of New Jersey and Stand- | Commodity, Textiles Atlanta, June 11.—Georgia textile plants continue to operate on short time, although several large Cai lina mills have gone back to capacity schedules. Holders of spot cotton are selling sparely as they believe there will be a shortage at the mills before the 1924 crop is ginned, Boston, June 11 months before the Dover plant the Pacific Mills, where a long strike has just been ended, can be brought th full production on the new sche dule, The plant makes about 15 per cent of the company’s gray goods. Fruit San Franelsco, June 11.—Hawalian canners plan_to pack six million cases of pineapples this year, accord- ing to local brokers. The crop is one of the Jargest in the history of the islands, and of unusual quality, The carry-over is small and probably will be cleaned up before the new crop comes on the market. ou Shreveport, June 11.—The pro- perties of the Continental Asphalt and Petroleum company in Red River parish sold under order of the federal court brought $550,000 from the Fortuna Oil company. Two leases and equipment were included. Flour St. Loula, June 11.—Shipments of flour from 8t. Louis in the last month totalled 426,320 barrels, com- pared with 434,060 o year ago. Wheat shipments amounted to 1,471,- 269 bushels against 2,803,145, Ri ceipts of flour were 398,680 barrel against 394,370 last year and receipts of wheat 2,730,550 bushels, compar. ed with 2,211,637 bushels, itomobiles Montpelier, Vt. June 11.—Registra- tion of automobiles in Vermont are Trade News 47,903 compared with 38,022 at this time Jast year. Sales have increased with warmer weather, although farmers have been hard hit by lower prices for dairy products. Dairy Products Chicago, June 11.—Butter markets show few signs of weakness, but Uttle activity as dealers are await- ing lower prices before putting large quantities into. storage. Weather conditions have held down output. Clothing Seattle, June 11.—Some of the largest retail clothiers here will send buyers east Inte this month for the* fall and winter supplies, and prac- tically all the clothing merchants here will be in the market early in July. They have put off buying to determine price trends and have only small stocks on hand. Live Stock Fort Worth, Tex., June 11.—Trad ing in yearlings has been active ro- cently, Forty-four cars of yearlings for feeding in Illinois, Towa and Ne- braska loaded out of Dermott late last week brought $35 a head. Farm Implements Kansas City, June 11.—Impte- ment dealers and hardwaro men re- port improvement in trade. Buying, which heretofore has been slow, {s being forced by the approach of harvest time. Lumber Cleveland, June 11.—Prices for lumber used in finishing have been cut from $1 to $5 a thousand feet. according to the official Cleveland lumber statistician. That is unusual at this time of year. RBuflding per- mits for May increased over thore of May, 1923, and figures for the first five months of the year show an increase over the correspondisic time of last year. ard Plate Glass. points were recorded by Baldwin, American Can, American Water: works, Frisco preferred, Gulf States Stecl, West Penn Power, New Or- leans, T sand Mexic nd Willys Overland preferred. Royal fell back 1%, Foreign opened higher, with the French po- Utieal controversy, ended by Li President Millerand’s decision to re sign. POTATOES CHICAGO, Jupe 11.—Potatoes weaker; receipts new 63 cars; old 36 cars; total U, 8. shimenta new 592; old 157; Alabama and sacked Wliss Triumps North and South Carolina barrel Cobblers mostly $4.50, {ns of 1 to 1% METALS W YORK, June 11.—Copper ; electrolytic, spot and futures ‘Tin easier; spot and futures 00. tron easy; 1 northern 200042100; No. 2 northern 1900@ 2000; No, 2 southern 2000%2100 Leait steady; spot 7T06@T25. Zine quiet; Bast St. Louis «pot ana nearby 580. Antimony spat 840. ae lo cA hee WYOMING OILS. NEW YORK, July 11.—Prices of Wyoming oils at 2 p. m. today were lated on the New York curb as fol- lowe: Standard (Ind) 57%. Mountain Producers 15%, Mutual 10. Salt Creek 2. ASAT ANS Neighbors Many a housewife locks the front door out of habit— then hangs the key in plain sight. She knows her neigh- bors so well that her one-time fear is now trust. — Just through familiarity, your one-time fear of goods you have never tested has turned to trust too. has done that for you. It convinces you that since others believe, you also are safe in believing. All products widely advertised are worthy of your faith, You buy from neighborly folk when you buy from their dealers, Advertising IAA AA RAVAN Why not read the advertisements every day to become familiar with more advertised goods? ke Every advertisement is a lesson in careful buying—read them all