Casper Daily Tribune Newspaper, July 2, 1924, Page 13

STOCKS HOLD Main Trend Continues Upward LEAD STOCK MARKET NEW YORK, July 2. TO NEW GAINS frregularity Develops , But —Profit-tak- ing &nd short selling interrupted but failed to check the upward move- i WHEAT PRICES RALLY IN MART Spread of Hessian Fly Dam- age In Dakotas Checks Downturn CHICAGO,’ July 2.—Hot. ary weather in’ Canada, unfavorable fot the wheat crop there, led to upturns ment of prices in today’s stock|in wheat prices today during the market. Wilson issues. made brisk| early dealings here. ,The fact, how- petvery from recent weakness. /Sale‘approximated 850,000 shares, NEW YORK, July 2. tured the irregularly ing of today’s stock lst. Pipe each moved up a point. gQ0d demand was noted for the low of which priced rails, a number improved fractionally. Prices bounded upward soon after the opening with a large volume of buying orders distributed throughout Foreign exchanges opened the list. steady. The closing was Irregular. While many speculative favorites continued buoyancy was shown by Wilson Packing com- moh and preferred and 8. S. Kresge to lose ground, «marked up five to 12 points. a LIVESTOCK Chicago Prices, CHICAGO, July 2—4U. 8. Depart: Agriculiure.)—Hogs—Re- gelpts, 36,000; slow; uneven; mostly ment .of 20e lower.than. Tuesday's average. Cattle—Receipts, 10,00 ing classes, fairly activ matvrel steers, $11.10. Sheep—Receipts, 16,000; westerns, $14.85 to $15.00. SILVER NEW YORK, July 2.— 66%; Mexican dolla 50% 2.—Strength and activity of the oil shares fea- higher open- General Electric and United Stafes Cast Iron demand, moderately broad; gerieral. ly strong to 15c higher on fed steers andphetter-grades fat she stock; top active; killing lambs, strong to 26c higher; silver, ever; that corn developed weakness ténded later to wipe out wheat gains. Wheat opening prices ranged. from 1% to %c higher, September $1.16% to $1.174%/ and December $1.20% ‘to $1.20%. co After a further dip, the market rallied with buying based somewhat on reports from the Dakotas indicat- ing spread of Hessian fly. The dlosé wag unsettled, %c to %c net higher, Septémber $1.16% to $1.17 and De- cember $1.19% to $1.20. With weather conditions more favorable the bears contifued to hold an advantage’ regarding September and later deliveries, but July worked higher again. The, close was, un- settled, ranging from '% @%&c net de- cline to 1c gain, July .96% to .97; and September .93% to .94. Oats dropped swith corn. A Coal, Grains and Provisions CHICAGO, July 2.—Wheat—No. 3 red $1.17%; corn: No, 2 mixed 98% @ 99c; oats No. 2 white 68@59e. Lard $10.80. CHICAGO, July 2. — Closing: Wheat July $1.16%; September $1.16 %; December $1.19%. Corn July .9 %; September ; December: .835 Oats July .53; September .45: De- cember 47%. Lard July $10.82; Sep. tember $11.05. Ribs July $9.75; Sept- ember $8.9 Bellies" July $10.05; September $10.45. METALS _ - July 2,—Copper electrolytic spot and futures WASHINGTON—President | Cool- lage will be fofmally. notified of his nomination on July 24 and. Charles G. Dawes, vice presidential nominee, on July 81, it was announced. .-|loon tires. "| steady; TSS TOES AITIN, about a stock is its par value. Time and again I have received inquiries 4s to the advisability of investing in this or that low-priced.stock, the writer appearing..to-believe that, be- cause the selling price is below the par value the shares are therefore cheap. Now par value has nothing whatever to do with investment merit. Some stocks sell at two of three times thelr par value an others sell at a mere fraction of thelt par value. At a matter-of fact par value is meaningless. It, only serves to confuse inexperienced investors. If you own ten shares of stock in a corporation which has one hundr shares outstanding you - own one- tenth of the business and this tenth ‘s no larger if the par value ts $100 than it is if the par value ts $1. You are a partner in the company, not a One of the unimportant thingscreditor. In the event of liquidation You rwill receive your share of the assets but the par value of the stock has nothing whatever to do with it. In recent years it has come to be the Practice in those states where the law allows it to issue shares of no Par value just ayolding all this mis- understanding in the minds of in- yestors. Then jt js plain that the holder of common stock owns, the @| equity in the business and nothing More. Occasionally even a preferred stock is issued without par value and the dividend is expressed in dollars and not in per cent., In that case iit is usual to fix.a certain gum, say $100, as the liquidathig price of the Dreferred, the balance if any going to the common. The moral to all this {s to pay ‘no attention to par value ®s an argument for or against the Purchase of any particular-stock. Trade News CAPE CHARLES, Yo.—Bad weather has cut the three million bushel potato crop of the Hastern Shore of Virginia by 600,000 bush- els. CHICAGO.—The Wisconsin, Mich- igan and Minnesota potato crop is almost: as large. in acreage as. the crop planted last year when t crop was particularly heavy, Textiles. BOSTON.—The National Associa- tion of Cotton Manufacturers has adopted a ‘‘made in New England” slogan hoping to improve conditions in this section which are blamed on the ‘tariff and the fact that mer chants are not carrying large stocks but are forcing mills’ to carry the burden. new Buick models put out today comprise light per mode! with a standard six- cylinder engine 114% inches whee! bat head, four wheel brake: self-lubricating valves in the and bal- The prices will be an- ugust 16, Batter and Eggs CHICAGO, July 2.—Butter, high: er; creamery extras, 38%c. Eges, lower; firsts, 24% @25c. nounced ——. NEW YORK, July 2.—Butter, creamery higher than ex- tras; firsts (88 to 91 score), 38@40%c. Eggs, easier; fresh gathered, ex- tra firsts, storage packed, 28%@ 29%c; Pacific coast whites, extras, 390, Cheese, steady; receipts, 213,242, Ground No Grafters or Fakers on the Grounds ‘A’ Place’ Where the Family Can Enjoy Delightful Day - 1 to 12 Feet Deep Cool Picnic For Free Picnics. ‘Wool. ’ CHEYENNE, Wyo.—A number of the small flock masters of Wyoming are*holding their clips’ for’ Higher Prices, but the larger growers have consigped their clips through the Wyoming Wool Growers’ ~associa- tion. ’ Oil. FORT COLLINS, Colo—Five new wells are to be drilled in the Fort Collins, Wellington, Douglas Lake field, where the Union O11 company of California brought in a discovery avell-some_months ago. Canned Goods. MILWAUKEE.—Wisconsin.is well sold up on early peas; Illinois and Indiana on early tomatoes; Illinois, Indiana and Iowa about cléaned of canned corn, the Western Canners’ association, reports, Grain. FORT WORTH.—Wheat- is mov- ing out of South Texas at a faster rate than ever before. On one day last week 106 cars went forward. ‘The previous -high mark for one day was 86 in July, 192 MONEY. } NEW YORK, July 2.—Call money dirmer; high 3; low 2% ruling rate 2 %; closing bid 3. Prime commerciai paper 3% @3%. ee nme, ’ TOKIO—The Japanese foreign, of fice issued a statement regretting the action of an unidentified Japanese-in cutting down the American flag. at the United States embassy at Tolio. Sra Allied Chemical & Dye - American Can American’ Car & Amerfcan American American American American Locomotive -. Smelting & Roef'g. An An American Woolen Amer. Zinc, Lead & Smelt, Anaconda Copper Atchison’ 2 Line) - Atlantic Coast Baldwin’ Locomotive — Baltimore & Ohlo Bethlehem Steel = California Petroleum Canadian Pacific Central Leather Cerro de Pasco Chandler Motors - Chesapeake & Ohio Chicago & Northwestern ~-...56- Chicago, Mil, & St, Paul, pfd. Chicago, R. I. & Pac. 29% Chile Copper *- 28% Coca Cola . Colorado Fuel & Iron. Congoleunt. Consolidated ¢ Corn Products, Cosden : O11 Crucible Cuba Cane Sugar, pfd. Davison Chemical Du Pont de Nemours - new ‘am % General é 42 General 236% General Motors - 12% Great Northern, pfd. 60% Gulf States Steel - 10% Houston O11 12% Ilinois Central ~ iP International Harvester, Int. Mer, Marine pfa. - Int. Tel & Tel Invincible Oil - Kelly-Springfield Tire Kennecott Copper. ~ Louisville M&. Nashville - M Truck Marland ON Maxwell Motors "A" — Middle States Oi} Missour!, Kan. & Tex. -. Missouri Pacific, pfa. National Lead --. New Orleans, Tex. & Mex. New York Central - N. ¥., N. H. and Hartford Norfolk and Western — Northern Pacific Pacifie QO --, er Pan, American Petroleim: “B"= Pennsy Producers Pure. Oj ading Republic Iron & St Reynolds Tobacco ‘WILL OPEN ON | July Fourth Just 4 Miles Southwest on the Alcova High- DON'T FORGET A SHORT RIDE ON THE “ALCOVA HIGHWAY” THE ROAD IS MARKED way: -Road Is Marked There Is No Place In Or Near Casper That Affords Such An Excellent Opportunity for Clean, : Wholesome Pleasure All Sizes of Suits and Caps to Rent THIS IS THE LIFE Free Instruction to PAGE THIRTEEN. Setaboard Alr Line — Sears Roebuck - Sinclair Con, — es Sloss-Shefficld Stee} & Iron Southern Pacific Southern Southern ST. PAUL.—July 2.—Trade in the Michigan and Wisconsin went Standard Oil of Cal. _= northwest is still In the doldrums.| four tenths of 1 per cent in June Standard Oil of Ne J. Business is still marking time while] to $907,918,290. Compared with « Studebaker Corporation awaiting agricultural activities, but] year ago, average savings have in Texas Co. —._-_.. & revival ts expected in the next] creased .5 per cent. Texas & Pacifio fortnight. Th has been plenty Tobacco Prodticts __. of rain and i se has been Big Loans to Farmers. Transcontinental Oil done to crops. The condition of WASHINGTON, July 2.—Federal Union Pocifte |. wheat, rye and corn is good, but it have made intermediate credit bank loans aggregating 6: farmers of the country less Will be two weeks before dofinitely determined whe! 1924" harvest will be suffic United Drug — U. 8. Cast Iron Pipe U. S. Ind. Alcohol 515 to the in slightly than one year since the new = cessful to provide a marked stimulus | credit system was organized, it was Sih pte Ager ops to Dusiness, Retail 2 in the inced today by the federal farm yanioase te ‘Twin’ Gities continues quiet and|loan board at the conclusion of the ers there 1s some unemployment, al-|sem!-annual conference of the board Seen racists. 6154} though the labor situation is not lg of the farm loan and in- weremouetenne 1 8% » credit banks. Up to May r serious by any means credit banks, Up to Mz Woolworth \ 22-241” 123% \757 of the loans had ae n repald, showing that $48,943,768 CHICAGO, July 2- ernment money is being used Standard Oil Stocks ness stabilization in by the farmers to finance current {8 reflected in savings bank reports.|crops or lvestock production and Savings in Illinois, Iowa, Indiana, | marketing. Anglo Buckeye a 62 Alaska, 6: Smith, 3; Underwood, Continental ~..-... 39 42 2; McAdoo, 1, Cumberland wase eee 1260 127 District of Columbia, 6: MeAdoo, Galena -~...-—-—..... .. 63 66 m Ilinols 2 edi Hawai!, 6: McAdoo, 1; Smith, 1; Inciana 2 ENLY Underwood, 1; Davis of West Vir- (Continued from Page One.) ginia, 3. Philippines, 6: 3. She was married to Silas N, Brooks, son of ex-Governor and Mrs, B, B, Brooks, January, 5, 1921. The marrfage climaxed a series of s0- 2 fos McAdoo, 8; Smith, Nor. Pipe Ohio Oi Prairie Ol - Pratrie Pipe Porto Rico, 6: Underwood, 1; Davis of West Virginia, 5. Canal Zone, 6: McAdoo, 6, Missouri, 36: Davis of West -Vir- ginia, 36. ' LOS ANGELES Vacuum cial events that once again attested 8. 0. Ohio to the high esteem in which the S. PB, on young lady was held. ASKS WAT ‘ER 8. O. Ind. A daughter, Patricia Belle, was 8. P. on: born to the couple on January 29, 8, O. Ind. 1923. SACRAMENTO, Cal., July 2.--Ths city of Los Angeles has applied to the state division of water rights for @ permit to divert 1,500 cubic feet of water per second from the Colorado river in Biverside county. Edward Hyatt, Jr., acting chief of the division, annoumced that the ap- plication had been made. Mrs. Brooks resided at the Brooks home ranch, 18 miles southeast of Casper, for the greater part of the time, making her home with her parents at 142 South Wolcott street when in Casper. No arrangements have yet been made for the funeral, the remains now lying at the Muck funeral home. CRUDE MARKET. it Creek ~--—-. F185 Lance Creek ~--.....----.... 1.90 Osage wanennnnnnen ne 1.90 Grass Creek light -_-...____ 1.95 Grass Creek, heavy -—. 199 ie eee Greybull -------_.----...--. 1.95 Torchlight +---~--------4-. 1.95 Mk Basin Rock Creek —--— Salt = Creek) cacuetoenelg eee Big Muddy ~~~ _._.. Mule Creek Sunburst ---.- es Hamilton Dome FOIA ceemescncceoncmseececees Byron .. ‘atches 06TH BALLOT (Continue from Page One) Vermont, 8: Smith, 7; McAdoo, 1. Washington, 14: McAdoo, 14 West Virginia, 16: Davis of West W YORK—Germany has done] Virginia, 1 everything asked of her under the Wisconsin, 26 Smith, + Me Dawes’ plan Alanson B. Houghton, | Adoo, ambassador to Germany said on his! Wyoming, 6 Davis of West. Vir- arrival for a visit ginia The water ¢omes from NATURAL! MINERAL ' SPRINGS that constantly flow into the pool, while added artificial cleansing is done regularl v Children cater children. We expressly to It is our desire to have the “Alcova Water Frolic” a happy and clean place for child- ren to enjoy. Chaperon present on request. Attendants Always in Charge Beginners