Casper Daily Tribune Newspaper, July 17, 1924, Page 9

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THURSDAY, JULY 17, 1924. fhe Caspet Oaily Cridune PAGE NINE Oil :: Finance GASOLINE STOCKS OF NATION ON DECLINE Decrease of Nearly Million Barrels During June Reported by Petroleum Institute; Crude Production Takes Jump. NEW YORK, July 17%.—Gasoline stocks decreased to the extent of 922,828 barrels during June, accord- ing to reports received by the Amer. ican Petroleum institute, covering approximately 65 per cent of the op- erating capacity of the United Btates, Pipe lines and tank farm e¢rude oil stocks east of the Rockies increased 5,240,000 in June, The Gally average crude off pro- Guction of the United States in- efeused 24,400 barréls for the week ended July 12, totalling 1,992,850, The daily Average production east of the Rocky Mountains was 1,373,- “850 barrels, an increase of 23,600, production of 478,800 barrels, an tn- crease of 1,850 barrels; Kansas 77,700, inerease 1,200; North Texas increase 200; central Texas 168,650, decrease 700; north Loulsi- ana 65,950, increase 1,850; Arkansas 148,650 decrease 1,800; gulf coast Commodity Lumber 7 NEW ORLBANS—New business took @ jump of 30.2 per cent at mills of the Southern Pine association last week, while shipments decreased 1.6 per vent and production Increased 9.6 per cent. New orders totalled 84,000,000 feet, shipments 64,100,000 and 67,000,000 produced. Chemicals, EL PASO, Tex.—Potash develop- ments in west Texas, especially in Hotor, Midland and Crane counties, indicate a heavy expenditure of money in prospecting operations in the next few months. The state railroad commission, ith the aid of oil operators, is fa ing steps to protect potash beds from the water from nearby oll wells. Paints PHILADELPHIA. — The point paint business in this section is not up. to normal for this time of year, But building now under way is ex- ed to account for heavier or- ders this fall, Cotton SHREVEPORT,. La.—The cotton growers’ —co« uve associations ate preparing to handle approximate- ly 1,600,000 bales of the 1923 cotton crop. This’ compares with the sale of about 1,000,000 bales handled last year. a Steel PITTSBURGH—The steel buying situation {8 unchan in a great measure, There are heavy aWards for construction material running well over 30,000 tons and inquiry for the heavy steel material is fairly good. Fruit ¢ ATLANTA. — Watermelon prices have slumped to $75 a carload to growers, the lowest point since 1915, Growers attribute ‘this to over-sup- ply by replanting in Florida after the winter freezes, 126,800, Increase 10,850; eastern 108,- 000, increase 500; California 620,200, increase 700; Wyoming and Montana 129,850, increase 9,650. Daily average imports of petro- leum at principal ports for the week ended July 12 were 171,148 barrels, compared with 237,571 for the pre- vious week, average receipts of California oll at Atlantic and Gulf coast ports for the week soiier July 12, wes 28,571 barrels, ° pared with 78,143 the wek before. Gulf coast crude oll was reduced 26 cents @ barrel, grade A quoted at $1.75 @ barrel, and grade “B” $1.45. There were no other changes re- ported for the major districts — Pennsylvania crude for Bradford district being quoted at $3.25 a bar- rel; mid-continent quoted from $1.25 to $2.25, according to the gravity bf the oil, and California crude ranged from $1 to $1.40 a barrel depending on the gravity. Trade’ News the Florida melons to maturity at the same time as the Georgia crop. Prices are expected, to stiffen by the end of the week. AUSTIN, Tex.—-Texas tomatoes will yield an average of 90 bushels to the acre this year, according to the bureau of agriculture econom- {ate, This is four bushels less than last year, but the acreage is much incréased. BAKERSIIBLD, Calif.—The first shipment eastward of California grapes started this week, two weeks earlier than usual. Growers re- celved unusually good prices for the eatly lots. Shipments of table grapes this year are expected to exceed 2,000 carloads, compared with 836 last year. ¥ ‘Wheat SEATTLE.—Latest estimat of the carry:over of the 1923 wheat crop’ of Washington and Oregon places it at 10,000,000 bushels. Fancy milling blue stem is quoted at 1.80 bushel coast. FOR WORTH.—Texas experienced record wheat yields from her fields this year. A ten acre tract In Harde- man county produced 466 bushels. Automobiles CLEVELAND.—There has been a pickup in automobile manufacture recently, due to demand for 1925 models. Inventories now are reported in excellent shapo at iooal factories and a good business is forecast for the remainder of the year, DETROIT.—The state of Michi- Ban has received $3,506,000 in license te for the first quarter, about $300,000 more than for the corres- ponding period of last year. i Potatoes SPRINGFIELD, Mo.—The potato section in Ray county is expected to produce 1,000 carloads of tubers meee brought! this Lerner Textile Manufacturers Like Old Trade Methods ‘By J. 0. ROYLE. (Copyright, 1934, Casper Tribune.) NEW YORK, July 17.—A good many textile manufactures are -yearning for return of the time when manufactured goods went from manufacturer to jobber, jobber to wholesaler and wholesaler to re- tafler. There has been some alight strengthening in the position of the goods but the situation of the maru- facturers still is not satisfactory to- day. Boston reported today that wor- stod is moving better in that dis- trict, with Improved inquiry for dressed 6 ‘While additional cotton machinery is starting up, they are running only about 50 per cent capacity. Plans of mill owners in the south contemplate operations on only part time basis in most instances, In spite of the disrupted condition of the industry, however, southern mills paid out more thar? $3,000,000 semi-annual dividends this month. Moat of the mills which distributed profits were in sections Where hydro- electric power and native American labor were available. The southern mills are basing, their policies on the assumption that the present raw cotton prices will be maintained through the fall, Controversies over the govern. ment cotton report still continue and in consequence the recent im- provement reported in cotton con- ditions has not had the stimulating effect on the goods trade that might have been expected. It seems un: likely that agreement as to accu: racy of the reports can be reached until the methods of compiling them by government exports and individ: ual statisticians are stabilized. The iatest dispute, involving od government report, is in connection with acreage under cultivation. Growers assert that the government estimate was based on fig: ~ acreage utes which included 1,700,000 acres ot abandoned land and that, there- fore, the total claimed to be. in cultivation is too high. It is tur- ther asserted that the government experts estimate the increased agre- Sge from One year to another from the gross amount of land planted t Previous spring instead of from the net amount harvested, allowing no way to tell the net amount of land abandoned, which has averaged 3.8 por cent in late years, Those who dispute the govern: ment figures say that the govern- ment estimate of 12,124,000 bales as of July 15 will be reduced to 11,- 160,000 bales if acreage increase fig- ures had been based on the acreage produced. Realizing that the prospects for cheap raw cotton to supply world needs in the future are far from bright has turned attention of many manufacturers’ attention to adapta- tiona of rayon, or artificial allk. Artificial slik plants in this country are turning .out that product as fast as they can market it and additions to plants are being made continually. One firm is so pressed by buyers that they are shipping in the afternoon the product made in the morning of the same day, It is known that British mills aro preparing to venture into artificial silk weaving. Whether they will “get the jump” on the American manufacturers remains to be seen but at least they have glimpsed thelr opportunity. Now that the 1924 silk crop of Japan is coming on the market, price levels for raw silk have settled down to a fairly stable basis with no immediate in- dications of advances. This is giv- ing a feeling of added security to the silk goods manufacturers. ‘Wool and woolen goods are look- ing up but the improvement seems rather based on prospective demand than on present movement of goods into consumption. SILVER NEW YORK, July 17.—Bar silver 68 2-8; Mexican dollars 61 6 Bonds New York Stocks Las Bale Stocks : OIL SECURITIES Allied Chemtcal & Dye .... 75% | Bessemer -.-------s-- 26 28 American Can ~--..-----.. 116% | Big Indian —--..----- .03% .05 American Car & Foundry ... 167%"] Boston Wyoming ---. .80 .85 American International -... 28%] Buck Creek AZ 6 American Locomotive ... 78% | Burke — 25 (AT American ‘Smelting & Retg. eT Blackstone 28 30 American Sugar -----------. 42% | Chappell 16 0.18 American Tel and Tel. — % | Columbine --..-------- 08% 09% American Tobaceo --..... Central ripe sasec----' 1.00 2.00 American Woolen -...... Consolidated Royalty. 1.21 1.23 American Zinc, Lead and Sm. 8%|Cow Gulch sue. 03 05 Anaconda Copper ~-....-.--. 31. | Domino - «-.. 10 a Atchison ~--~...-..... 104% | Elihorn ---..----.... .04 06 Atlantic Coast Line --....... 123%] E. T. Williamg «..-.. .80 32 Baldwin Locomotive .....-.. 115% | Farge ~~... 05 07 Baltimore and Ohio -....-. 61% | Frants -..--.-.--.---. 6.60 Bethlehem Steel. -----------. 42% | Gates --.. - 08 California Petroleum -------. 2034 aera Sai id Canadian Pacific -. 1ak y_ Coast waoe= Central Leather ......1..... 14% | Lance Creek Royalty . .00% Cerro de Pasoo ex div. ..... 46% | Marine 8.00 8.1! Chandiér Motors «......--... 45% |Mike Henry 00% Chesapeake and Ohio ...... 86% | Mountain & Guilt .. 143 Chicag* and Northwestern .. 58% | Mountain & Gulf .... 1.88 Chicago, MU & St. Paul pfa,. 26 |New York Oll --...... 9.00 10.00 Chicago, R. T. and Pao. ..... 38% | Picardy -..----. 04 Chile Copper -...... Preston Oh GOOK COM: Sensincees Red Bank ~.2....-..29.50 80.00 Colorado Fuel and Iron Royalty & Producers . .04 05 Cengoleum - Synset .......-._---. == 03% Consotidated Gas Corn Products new Cosden Oil Crucible Steel =: Cuba Cane Sugar pfd. -~.- Davison Chemical Du Pont de Nemours Erie Famous Playerm Lasky ~~... General Asphalt General Flectrie General Motors .... Great Northern pfa. 6oN Gulf States Steel ~.. 68% Houston Oil ..2.-2.. roe Ulnois Centra} ....--... International \Harvester Int. Mer. Marine pfd. - Int. Tel. and Tel. Invinolble O11 . Kelly Springfield Tire Kennecttt Copper Louiaville and Nashville Mack Truck 20% Marland Oil 30% Maxwell Motors A ~ 49% Middle States O11 ....-.. 1% Missouri, Kan, and Tex. 15% Missauri Pacific ptd. .. 48h National Lead -... 144 New Or'eans, Tex and Mex, 9B New York Centra? ~..... N. Y., N. BM. and Hartford... Norfolk and Western Northern Pacific Pacific ON -. ==: Pan American Petroleum Pennsylvania Producers and Refiners -.... 24% Pure Oil ~ 20% - 8% - 4 Reynolds Tobacco B - - 71M Seaboard Air Line - 18% Sears Roebuek wee 948% Sinclair Con, ~ pannsnes 15s Sloss-Sheffield Steel and Iron 68 Southern Pacific ~ 94% Southern Rallway 68% Southern Railway pfd. ...... 75 Standard Oll of Cal ...-... 56% Standard Oil of N. J. --..- 34\% Studebaker Corporation Texas Co. Texas and Pacific .. Tobacco Products 61 Transcontinental Oil -. 4% Union Pacific 186% Unitea Drug - 79B 8. Cast Iron 99% . Ind. Aleohol . 7% United States Rubber «. 27% United States Stee) -.. 99% Utah Copper -.-.. 71 Westinghouse Filectric ..... Wiliys Overland Woolworth Cat Creek ---e nee $1.95, Lance Creek 1.90 Osage -------~~---~----2- 1.90 Grass Creek light .. 1.95 Grass Creek, heavy ~—....... .00 Greybull 1.95 ‘forcblight 1.96 Mk Basm ~-.----------.---. 1.96 Rock Creek Salt Creek ~~... = 1.60 Big Muddy -—. a.6o Mule Creek . 1.20 Sunburst ~~. 1.05 Hamilton Dome = 1.40 Ferris -----+--o-eenaa-n-eenes 1.65 Byron 1.95 Notches eeweea-n- o-e---— 1.70 Pilot Butte -....-....--sseeee 1.10 8 Lander =o Standard Oil Stocks Anglo - 14%" 15% Buckey: 63 64 Continental .... 38 42 Cumberland ~ 127 129 Galena oA 57 Tilinois .- 130 132 Indiana ~= 92 93 Nat. Tran, N. ¥. Tran ... Nor, Pipe Ohio Oil -....--.... Prairie Oll ....-.. Prairie Pipe —.-.....-. 102% Solar Ret. emecceserees $1 8. O. Ind. POTATOES CHICAGO, July 17.—Potatoes trading fair; slightly firmer feeling on best sacked stock; the barrel mar- ket continues weak; Missouri an Kansas sacked Irish cobblers $1.40 @1.70, with sales of poor stock $1.10 and up; sacked éarly Ohios $1.35@ 1.56; Illinois sacked early Ohios $1.40 @ Virginia barrel cobbiers 82. @@3.15; according to condition: North Carolina barre! cobbiers,. poor condition $2.06@2.50, Western Exploration - 3.00 Western Oil Fields -.. Western States ---. 14.15 Wyo-Kans .---.-.-... 20 1.00 ¥ Of os, NEW YORK CURB CLOSING 5 Ask Mountain jucers . 17.87 18.00 Glenrook caren ~~ 88.86 Salt Creek Prds. -... 24.00 24.12 Salt Creek Cops, 1. 8.00 8.75 Prairie Ot! 205.00 206.00 Ohio Oil 60.00 6. 3Tutual a 0 9. S. 0. Indiana - 86.25 65.60 Chicago Prices. CHICAGO, July 17—(0. 6. De- Partment of Agriculture.}—Hogs — Receipts 23,000; active; 10@20c high- er; medium heavy weight butchers Show full advance; Nght receipts; top $8.10; bulk desirable 170 to 325 pound averages $7.75@9.05; godd and choloe 140 to 160 pounds weig' $7.25@7.70; packing sows $8.05@7.30; better strohg weight slaughter pigs $6.25@6.60; heavy weight hogs 87.86 @8.10; medium — $7.80@8.05; light lights ; packing sows smooth $7,00@7.45; packing sows rough §6.70@7.00; slaughter pigs $5.50@6.60. Catule—Receipts 15,000; few early sales; better-grades fed steers, year. lings and grain fed cows and heit- ers about steady; trade very slow: bidding weak to unevenly lower} killing quality geherally pinin; gras. sy and short fed steers 10@150 off; Spots more; grakay cows moatly 25e lower; large recelpts; few loade weighty long fed steers held at $11; early bide ranging from $10.50 to around $10.75; bulls 18e lower; best heavy bolognas around $4.86; bulk $4.50@4.75; vealers about steady; bulk $8.50@9.50; few choloe calves to packers at $10.00; stockers and feed. ers nominal. Sheep—Receipts 12,000; early gales fat lamba around 260 lower; culls and sheep steady; early bulk fat native lambs $14.00@14.25; sorting light; culls mostly 0010.00; good to cholee westerns $14.00; best rangers unsold; fed yearlings §12.00; few fat ewes $5.50@6.00; prospects on feeding lambs steady. Omaha Quotations » July 17.—(U. 8. Depart. t of Agriculture). Hogse—Re- ipts 17,600; moderately active, 10 ic higher; good and choice 220 to 826 pound butchers §7.4 ark 60; average cost yesterday $718; weight 259. Cattle receipts 4,200; rather slow on all killing classes; Nght weight steers and yearlings steady to weak; othera 10@16 cents lower; killing quality rather plain; top steers av- eraging 767 pounds, $9.76; best yearl- ings $9.76; bulk dry lot steers dna yearlings $7.25@9.50; shipping cows and heifers scarce steady; others dull, mostly 15@25 cents lower, Sheep—Receipts 7,600; fat range 4nd native lambs full 26 cents lower; early sales western §: @14.18; clipped lambs steady; several 85; sheep strong 25 cents higher; desir- able fat ewes §5.25@6.25; feeders steady to weak; early sales cholce range feeding lambs $11.75@12.00. Denver Prices DENVER, Colo, July 17.—(U. 8. Department of Agrioulture)—Hogs —Receipts 2,700; buying freely in all Classes; 15@25 cents higher; top $7.75; Gesirable 180 to 250 pound ‘ages $7.50@7, packing sows steady; few pigs a4 Ught lights 120 to 160 pound averages $5.15@ 6.00, Cattlo—Receipts 500; calves none; dull; very little sold; few sales she- stock 10&200 lower: mixed cows and heifers $6.75. Sheep receipts 1,200; no early sales; bide on fat lamba generally 25 cents lower. Foreign Exchange NEW YORK, July 17.—Foreign exchanges irregular, Quotations in Great Britain demand 487%; ca- 487%; 60 day bills on banks 434%. France demand 5. cables 5.09. Italy demand 4.30%; cables 430%. Belgium demand 4.514; cables 4.62 Germany demand (per trillion} «23%; Holland 7.84; Norway 13.43; Sweden 26.58; Denmark 16.16; Swit erland 18. Spain 18,27; Gree 71s Poland .19%; Czecho SBlovalda 2.96; Jugo-Slavia 1.18%; Austria .0014 1-8; Rumania 45; Argentina 32.50; Bra ail 9.76; Tokio 414; Montréal 99 1-16. —>———— Flour. MINNEAPOLIS, July 17—Flour, unchanged to 10¢ higher; family patents, $7,75@7.55. Bran, $23.00@ 24.00. « “xt eg reclamation service, ‘formation. RAILS LEAD IN STOCK RALLY Large Absorption of Low Priced Issues Bring Up- turn On Exchange NEW YORK, July 17.—Contract- ing price movements marked today's stock market, which proved unusu- ally sensitive to pressure in spots where stop loss orders were unoov- ered. Persistent buying of traction and low priced railroad issues, how- ever, caused extensive short cov- ering and counteracted early reac- tion, The close was irregular. Sales “aS ition 1,600,000 shares, NEW YORK, July 17.—Consider- able irregularity marked today’s Initial dealing in stocks, Stewart- .06 | Warner declined abruptly more than Ob% | *x poin| to the year's lowest price and later rallied ana Bethlehem Steel also touched a new 1924 low on un- 104% [easiness over coming dividend ac- tion. Local traction and several 15% .16% railroad issues touched the year's top price. Selling later became more géneral among industrials, chemical, steel and motor accessories shares recedi- ing sharply. Strength of the public utility and low priced rail issues, however, was well sustained. Stew- art Warner, after falling to 48%, rallied to 52% on hurried short cov. ering. Stromberg, Repubile Steel, U. & Cast Iron Pipe and Davison Chemical were hammered down to two points, while gains of one to 1% points were registered by Wheel- ing and Lake Erle preferred, Peoria and Eastern “Katy” preferred, Third Avenue Railway, Woolworth and Brooklyn Manhattan Transit, Foreign exchanges opened steady, Downward tendencies Iter be- came more pronounced. Several early gain were cancelled by profit taking. Thterborough fell back 2% points while National Lead, West Pennsylvania Power, DuPont; Amer iean Water Works and American Woolen decline to 4 points, Accumulation continued, however, in the low priced rail issues. Rook Island and New Maven mounted to the year's highest levels. Call money opened at 2 per cent. Early low Were converted Into Substantial gains in some Instances, Atlantic refining rising & pomta, When the market began to derive stimulation from the large absorp: tion of the low priced railroads and Public utilities, Rock Island moved up 244 pointe and St. Louis and Ban Fraheléeo, Texas and Pacific and ‘Western Maryland second preferred Were also quite strong. CASPER PINS. FAITH TOUS, (Continued from Page One) Frying out of their original plans was necessary to the future welfare of the state. It was also emphasized that when the Pathfinder project Was mapped out it was done so with the original idea of using the water for Wyoming land, but afterward this intention was put aside with the information that there was a Vast body of Nel Ka land that could be irrigated a lower cost. “And you have never ceased to have faith in the government that you would have these promi reclamation fulfilled,” Hopkins. “‘We know that the government is going to keop ity promise,” replied Mr. Winter. At the opening of the session Mark Danford of the Midwest Refining company presented a plea for use of water of the Pathfinder Gam for the elty of Casper. Mr. Danford ex- Plained that Casper is supported by the Salt Creek oil fields and that these fields each year turn in an enormous government royalty to the For that rea- son Casper, he claimed, has a right to an equity in the waters. YALE CARRIES OFF BIE RAGE (Continued from Page One) springboard fancy diving and first and third in the 200 motre breast Stroke swim, thus adding 3% points to the American score and placing the United States far ahead of Aus- tralia, its nearest competitor, in the Water sports. The United States galned 19 points in the diving competition in which Albert ©. White, Leland Stanford university, Peto. Des Jerdens, Miaml, Fia.,-and Clarence Pinkston, San Franolsco, finished first, second and third, while the Americans gained 14 points in the breast stroke event, Robert D. Skelton, Wilnols A. C., taking first place and W. ’, Kirach- baum, Hawaii, taking third. 100 metre back stroke. firet semi- tinal—awo to qualify for finals to- morrow: Warren Kealoha, Hawail, first; Paul Wyatt, Uniontown, Pa., second. ‘Time 1 minute, 18 3-5 sec. onds, Butter and Eggs CHICAGO, July 17.—Butter mar- ket steady, unchanged; ‘receipts, 15,873 tub asked Mr. ady, unchanged; receipts Call the Tribune for highway In- Of) Biba, $10. ‘Grain :: Livestock :: All Markets AND QUOTATIONS BY LEASED.! GRAIN PRICES STILL SOARING Both Corn and Wheat for Future Delivery Reach New Records CHICAGO, July 17—with Winnl- peg wheat market up and with rain in Canada apparently recéiving scant attention, wheat averaged higher in price here today during the early dealings. Chicago experts in Canada continued to report severe crop damage. In_ particularly, one authority telegraphed from Saska- fon, Sask., that wheat in a large surrounding territory was practical. ly @ failure, and that rains would be of little benefit. Farmers, he sald, were turning their cattle into the fields. Opening prices here, which varied*from unchanged fig- ures to one cent higher, September $1.27@1.27%, and December §1.29% @1.30, were followed by a moderate setback for most deliveries and then by rapid fluctuations and ac- tive trading within the range of about two cents. Subsequently, all deliveries here rose to a new high price record for the season. The impulse came from further sensationally bullish Cana- dian reports and estimate that the thee prairie provinces would yield 200,000,000 to 250,000,000 bushels le’s than last year, The close was nervous but despite heavy profit- tak:ing was 2@4%0 net higher, Septembet $1.29@1.29% and Decem- ber $1.31% @1.32. Scarcity of supplies, together with unfavorable temperatures had a bulligh effect in corn market. After opening at %c off to 1%e up, Sep- tember $1.06 to $1.06%4, prices scored decided gains all around. . Urgent bidding lifted the price of cash corn to $1.16% for No. 2 yellow. All futuré deliveries except Septem: ber reached a new high price rec- ord for the season. ‘The close whs strong, 1% to 4%c net higher, September $1.06% to $1.07. Oats, like wheat, were affected by OCaradian ctop damage reports. Starting at %e lower to %c up, September 48% to 48%o, the market s00n showed & good general advance. ‘Wheat— Open High Low Close TUly -.2. 1.26% 1.80% 1.26% 1.30% Bept. 02. 1.27 1.20% 1.25% 1.29 Deo, ..-- 1.29% 1.82 1.28% 1.31% Corn— July s20- 112% 1.18 1.10% 1.12% 1.06 1.07% 1.04% 1.06% 1% 04% «BOM 94 6% «55% 56S % ATS 48H 51% 49% 50% 12.50 12.45 12.70 12.80 12.85 12.46 -10.60 10.60 10.60 10.60 «10.80 10.86 10.75 10.85 a 10.00 10.95 11:90 FOLLOW GRAIN— MART Gash Grains and Provisions CHICAGO, July 17.—Wheat—No. 8 red $1.29%; No. 2 hard $1.3T%@ 1.80%. Corn—No, 2 mixed $1.19% @1.14%; No. 2 yellow $1.15@1.15%. Oats—No. 2 white 60% @61%o; No, 3 white 584 @60%. Rye—No. 2, 87%c. Lard, . Bellies, $11.50. fibrillar no icecich $12.45. Flax. DULUTH, July 17—Close flax: July, $2.67; September, $2.45; Octo: ber, $2.40. MONEY NEW YORK, July 17.—Call money steady; high 2; low 2; ruling rate 2; closing bid offered at 2%; Inst loan 2; call 10% wainst acceptances 1%: time loans easy; mixed collater. al 60-90 daya 2% @3; 46 months 3@ 8%; prime commercial papér 84% @ 3%. METALS NEW YORK, July 17.—Copper steady; electrolytic spot and futures 12 8-8@12%. ; Tin easy; spot and futures 46.12, Tron steady; prices unchanged. Lead steady spot 7,00. Zine steady; Bast St. Louls spot ; futures, 6.87 @ 5,90 Antimony spot 8.25, LIBERTY BONDS NEW YORK, July 17.—Liberty bonds 1p. m: Bye $101.12; first 4%8 $102; seo- ond 44a $101.13; third 4%s $102.5; fourth 446 $102.2; U. 8. Government 4% $104.21. NEW YORK, July 1 spot, steady; middlings, $42 ee SUGAR NEW YORK, July 17—Refinea sugar Was neglected today, with the range on fine granulated $6.60 to $6.70. Refined futures nominal. Sugae futures cloned steady, ap» proximato sales, 15,000 tons, July, 3 Beptember, $3 December, March, $3.13, —Cotton $3.33; ST. PAUL.—Business interests that center in the Twin Citles al- ready are bullish for heavy trade during the next six months as a-re- sult of the estimates by experts that the northwest farmers will harvest crops which will bring in $175,000,- 000 more than those of last year, The increase to growers based on recent market advances and pros- pective yields from {ncreased acre- age is placed by Prof. Andrew Boss, agronomist of the University of Minnesota, at $185,000,000. Wholesale trade already has taken ® spurt and retail sales are satisfac- tory in the seasonal lines. Federal, ate and private employment agen. report a surplus of skilled labor but increased demand for farm and road laborers. SAN FRANCISCO.—tTwelve of California’s 17 largest olties showed decreases ranging from 10 to 30 per cent in building: construction in the first six months of this year com- BUSINESS BRIEFS: pared with the corresponding period of 1923. The most severe drop was in Los Angeles, where the amount expended fell from $15,000,000 to $10,- 000,000, The decrease in San Fran- cisco was approximately $1,000,000, but San Diego's activities increased 100 per cent. The total expended in the 17 cities for six months was slightly above $25,000,000. CLEVELAND.—There is a decid- ed improvement in building activ-. ity in evidence here. The volume of building for the first six months of the year totaled $32,241,490 or $4,- 000.000 more than for the corre- sponding part of last year. The Cleveland Electric Tiluminating company will bulld a $3,500,000 steam plant on the river front. ST. PAUL.—An thcrease in mu- nicipal water rates ts in prospect here as a result of recent expansion in the system and further prospec tive expansion. Pro-Rating of Crude In Midcontinent Nearing End NEW YORK, July 17.—Reports from Kansas City that Prairie O11 and Gas company had reduced crude oll 60 cents a barrel In the mid-on- tinent field, brought a statement from Standard Oil officials that pro- rating in the mid-continental field would ,end about August 15, ‘This was said to mean that Prarie Oli and other iatge companies in that terri- tory would take all the of! their fa- ellities would permit. BARTLESVILLE, Okla., July 17. —The Prarfe Of and Gas company announced a reduction in price of mid-continent crude oil, of 250 to 50c a barrel, for the high grade olls, eliminating two grades, 36 and 39 degrees. FINDLAY, 0., July 17.—The Ohto Oll company today reduced the quo- tations of seven grades of central west crude of 10 cents & barrel. The new prices are Lima $2.08; Indian: $1.88; Miinois $1.87; Princeton §$1,8 Plymouth $1.26; Waterloo $1.36 and Wooster $1.90. WOOLGROWERS CONVENTION CLOSES TODAY WITH ELECTIONS (Continued from Page One) In their consignments of wool to that warehousé and send it during goot years as well a8 bad. Vigorously resuming his address which had beén begun before noon with an attack against attempts be- ing made to raise grazing fees on forest reserve lhndk, Frank J. Hag: enbarth, president of the National Woolgrowers association, opened yesterday afternoon's session of the convention, His was the only sched uled speech made before evening ad- journment. Practically no phase of the wool growing industry was neglected by Mr, Hagenbarth in his talk. He showed in a masterly way the little influence that wool tariffs and the prices of raw wools have on the prices of clothing. To illustrate this vividly, he told of a plege of wool sulting which he took to an ordinary taflor to be fitted to him. The cloth had cost him nothing, but the price charged by the taflor to convert it into a sult was $70. The tailor as cribed the high charge to labor costs which, of course, have increased tre- mendously in the past decade, “We are in an age of economic heresy,” declared =the speaker, “Manufacturers wish tarriffs which will protect their finished products, but on the other hand they seek, or have in the past, to have the raw products they use practically duty free.” Continuing along these lines, Mr. Hagenbarth showed where other pro- ducts which have been duty free, such as carpet wools, and leather and shoes, have gone higher in price in the same period of years than clothing wool. Therefore, he sald, protective wool tariffs are not to be blamed for arly increase in price of clothing. Labor costs of clothing manufacturers have continued up- ward until now in an effort to meet the public demand for lower prices, they are using cheaper materials, ae- cording to the president of the na- tional association It ig“not at all unusual, he stated, to see a well made suit of poor or even defective material, This method of trying to lower prices is entirely wrong, sald the speaker, and Is injurious to wook grower4 Who realize that the prices they recelve for their wool are but a very small part of the final cost of the finished article, “We sheepmen should be proud of our calting. There is nono like it in the world and airice the time of Christ the shepherd has been re. spected’ jn his occupation. What have we done? We have taker the waste lands of the west and have used them. Our flocks have con- verted the waste growths of this great section into wealth a wealth that yearly brings into Wyoming nearly $25,000,000. So we should be proud. “I don't want to preach sectional. ism, but we must stand together and protect every western industry. If we do not protect ourselves we shall be ten down by the hand of the east The greater part of Mr. Hagen- barth's efternoon address was di rected toward welding the growers into a more solid unit. He hammered on organization and condemned f bleness in attacking the grea lems confronting sheepmen we or or we lose,” deci the national sociation president “We mt funds with which to carry on t work. We officers of your associations have giveh our time and our own money in ‘order that the battle might be fought.” When Mr. Hagenbarth had con- cluded his address the convention bacame immediately active In pro. posing measures to cover a deficit and provide funds for the coming year. An assessment of one tent @ head on the lambs to be sold this fall by the members was voted by the asso- ciation to be turned into the Na- tional Woolgrowers association. For its own general fund for 1924, the association yoted an assessment of one cent a head h sheep in the basic Tlocks of its members. This marked an increase in assessment of one- half cent a head over that which has previously prevailed. Mention was made of an atticle re- cently appearing tn the Daily News Record which told of action that is being taken by the national retail clothlors organization to test and at- tempt to prove unconstitutional Wy- oming’s truth-in-fabric Jaw. Some discussion centered about this mat- ter which had its origin If the ar—_ rest some timé ago of several Chey- enne clothiers charged with Violating the law's labelling provisions. Tne ease will be carried through the low- er courts and sent on for final test to the supreme court. To defend the law, the association yesterday Went on record as favoring the ex- penditure of halt of its 1924 funds in employing counsel to back the statute. B B. With former Governor Brooks presiding as toastmaster, vis- iting members of the fon Were last night wonderfully enter- tained at @ banquet and dance ine the Elks auditorium. The attend- &noe at the function was large. During the dinner a dozen de musical numbers were given, att! appearing being Mrs. dell, Mrs. Madelyn Treber, Miss Betty Grissinger, Jack Leary and Miss Genevieve Fitzgerald. from beginning to end tho banquet and entertainment . was a remarkable success. That the occasion was #6 splendidly cared for, may be at- tributed to Jack Leary who all thru the convention has been chief mogul among Wyoming flockma&sters as far as amusements have been concerned. Immediately following the dinner several speakers addressed the gath- ering, reciting stories of past days on the ranges and recounting humor. ous tales of pioneer experiences in tho sheep business. Among those who spoke Were Congressman Chas. Winter, I. J. Hagonbarth, Dr. J. M. Wilson, R. C. Cather and Tam Cooper, . The evening reached its igh point in thé dance which lasted from 10:15 o'clock to 1 o'clock. GUSHER WELL IS UNCORKED GREAT FALLS, Mont., July 17. ~The Shoshone No. 4 well of the Shoshone Ol} company, Kevin-Sun- burat fleld, whieh came in Tuesday night as a heavy gusher, continued ht. to flow strong, under control head. J. F. Bock, Great Northern general agent, returned home 1 twelve hours spent at the well states e.| that during tho n® Was there the well lowed ) bar or at the rate of 2,40 ls a day through a two-inch pipe and under | contrel head, so that the open initial |produetion should be in ‘the nelgh- borhood of three thousand barrel which {s the largest well to come in for the north field, ment of Mr, Bock is corroborated by oil operators In the field. oe Yor results try a Tribune Clas! sified Ad. ; Bylvia Lop | The state,>

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