Casper Daily Tribune Newspaper, August 3, 1924, Page 17

SUNDAY, AUGUST 3, 1924. Finance :: Bonds :: Stocks :: Wyoming Business and Industrial Survey From Special Tribune Reports Business reports covering cur- rent conditions in various parts of the state, as submitted by the banks to the Casper Tribune, are given as follows: Livestock, EVANSTON (Uinta County).— Some steers sold for 6 cents; cows for 4 cents. From parts of «Utah and Nevada, where all feed has been burned up by continued drouth and scorching winds, 5,000 head of cattle have been shipped here for razing. ARVADA (Sheridan County).— Cattle all doing well and beginning to show good fat. First cattle from here cn Omaha market, in only fair condition, brought $5.20 for young cows and heifers, and $6 to $7.50 for light weight steers. Straight earload to Sheridan butcher brought $5,50 for cows and $7.50 for steers. SHAWNEE (Converse County’ Cattle are in good condition, sev- eral carloads having been put on the market. There are a great number of hogs in this section. If farmers get a good corn crop there will be several carloads of hogs shipped. Allled Soria & “Dye = American American American American American American American American Anaconda Atchison oo e-- At, Gulf and W, Indies -.-- Baldwin Locomotive .. ltimore and Ohio thiehem Steel ...... California Petroleum -... Canadian Pacific rnternatceal Sorp Locomotive Smeiting and Retg Sugar T. and ‘Tobacco Woolen - Trend at New York; work showing some improvement. ARVADA.—Business in general showing gain over last year and Prospects yery good for this fall. THERMOPOLIS.—Work _ at the Crosby coal mine which has been shut down since eurly this summer, will start August 6. Orders are coming in at hoth the Crosby and Gebo mines, It is bélioved the Crosby mine will operate several days a week for the time being. Gebo mine has been running three days a week. Employment will na turally pick up. Locally, the Whit- ing theater which has been operat- ing at a loss for some months has been closed and is now in the hands of the sheriff. NEW YORK, Aug. 2.—Closing of the elghth successive week in which stock prices have pointed upward found trading still strong in today’ brief session of the exchange al- thorgh some irregularity developed by reason of week-end profit-taking. A new high record was made by General Electric at 268% while sev- eral of the railroads and Schulte Stores also sold at new tops for the year. Willys Overland preferred and Otis Steel preferred fell off. Sales for the day involved half a million shares and the closing was strong. Bullish sentiment during the week just ended found its greatest in- spiration in the declaration of an extra dividend of 50 cents a share on United States Steel common for the third successive quarter, Indus- trial and railroad shares in general reflected the advance in this issue and the announcement of Chairman Chandler Motors Chesapeake and Ohio -. Chicago, R. I, and Pac, Chile Copper -. Chino Copper Consolidated Gas Corn Products Cosden Oil .... Cuba Cane Sugar pid. ¥amous Players Lasky ----- General Asphalt General Electric General Motors Great Northe! pid Gu'f States Steel - Inspiration Copper International Harvester Int. Mer. Marine pfd. International Paper Kennecatt Copper Mack Truck -. Marland Ot! Maxwell Motors - Middle States Oil ~~... New York Central -. Northern Pacific Pacific Ol -. Pan America) eum Producers & Producers Pure Oil Reading Republic Iron and Steel Sinc'air Con Oil -. Southern Pacific --. Southern Railway ---... PINEDALE.—Sublette county placer gold deposits are to be given a thorough prospecting this season as now planned by the home com- pany now operating in the Hobacit canyon. Last season the company attempted to reach bedrock by sinking a shaft, but at the depth of only 11 feet the water ran them out and they were obliged to cease work. This season they have pro- cured a drill and will attempt to reach bedrock with a 12-inch casing. Their progress will be watched with great interest. In sinking the shaft last season, at the depth of two feet the dirt assayed $6.80 per ton, at the depth of 11 feet where they were obliged to cease work on account of water, the dirt assayed $19.60 in flour gold. The depth of bed rock is unknown, but with Agriculture, EVANSTON.—Hay will make about two-thirds of crop but with surplus from last year it will be sufficient for the coming winter's feeding demands. ARVADA.—Hay crop will be above normal and of exceptional quality. Winter wheat nearly all cut and showing better than aver- Livestock ATLANTA—This city is expected to become the largest mule market in the world as a result of the merg- ng of the firms of Smythe Brothers, 4 of Richmond, and Maxwell Brothers, age yield. Spring wheat nearly| values increasing at the rate of] standard Oil of N. J... of Memphis. Each firm will move ready to cut. Oats are short but} $1.42 per foot, they feel reasonably | Studebaker Corporation its entire holdings here, Smythe well headed. Corn doing nicely and| sure that millions of dollars worth| Texas Co. Brothers have norma! yearly sales Tobacco Products A ~. Transcontinental Oil - Union Pacific -. U. 8. Ind Aleoho!l United States Rubber - United States Steel ~ beginning to show slik, but should have another good rain, SHAWNEE.—Corn looks fair but late. Rye and wheat are poor crops this year due to long dry spéll. Dairying has been good all summer and farmers in much bet- ter condition to” stand small grain crop. of gold are awaiting’ development in the Hoback canyon which is 12 miles in length and by testing the depth out with a drill they can reach satisfactory and safe conclu- sions, as. to what machinery is re- quired to handle the work. Their holdings are about equally divided in Sublette and Teton counties. Among those sending in the above reports were the Arvada State bank, the Bank of Shawnee and the Evanston National bank. of 70,000 mules and Maxwell Bro- thers of 60,000 head. ST. PAUL—Young cattle have reached’ $10.50 a hundred pounds in the stock yards here, the best grade of the season and hogs are selling at the highest figures in 24 months, Tents SEATTLE — Manufacturers and dealers in tents and awnings and campers supplies predict the active demand will continue until Septem- ber, ‘Sales are up to the best records of recent years. Willys Overland Colorado Fuel and Iron --.- National Lead Standard Oil Stocks Anglo. .------ Miscellaneous. EVANSTON.—Railroad shops put- ting some men to work with road Wheatland Region Sees S AND QUOTATIONS BY LEASED STOCKS SCORE FRESH | kye GAINS DURING WEEK Profit-Taking Only Disturbing Factor in Upward Gary corporation that the demand for steel had improved materially since July 1 some Buckeye =~. Continental -. Oil iz ‘ 4 4 Cumber.and MINNEAPOLIS—The cut of one Galena cent a gallon’on gasoline made by 1 uture in hailroa Ulinots the Standard Ol company of. In- Indiana ~~) --------5--- dana already. been “met by its Perey a competitors. While 16.9 cents is the and Sugar Factory Plans): ve:"== sf [sea ok wagon price exornn Ohio OF now selling in some parts of this’sec- . Prairie Ol -. ton for 12 cents. Prairie Pipe Frait WHEATLAND, Wyo., Aug. 2.—|at Lingle were signed by the mayor] Solar Ref, ~~-------. San FRANGISCO — Citrus fruit There has beeh a great deal of var-|and the members of the council re-| Sou. Pipe. - growsrsthiruotiGikie state report the fous kinds of activity here and in|cently. The contracts will, become] 3° 6) yry. datnand tor: eastern ahipments’ brisk effective upon the singing of similar contracts at Guernsey through which place the transmission line is intended to pass. ‘The reclamation department is ready to start con- struction work on the line as soon .s Guernsey has stepped into place. Its coming here will mean that Wheatland will be provided lights and electric power at a lower rate than heretofore. Just completed at the Diamond ranch near Chugwater is the largest livestock dinning vat yet construct- ed in Platte county. It is 90 feet long and equ'pped with three heat- ers. Though the property of the Dia- mond outfit, the vat was built with the aid of a number of other farmers and under the direction of the county agent, and will therefore be genera! ly used. the vicinity during the past week. Harvesting of what has started. Already the winter wheat crop stands in shock while the spring wheat is rapidly falling before tle reapper. Several days ago the Wheat- land Roller Mills was quoting a price of $1.67 here. Durlpg the sea- son there was no sign of rust in this district and where water was applied to the land the crop has been excellent. Growing conditions have been ideal for corn in this county. This is true because of a constant supply of watez for irrigation. Other regions have been greatly injured because of ccntinued drouth, but not so around here. Offers of the local mill for corn and oats are at this time $1.55 per hundred. Fully a month ahead of the regu- lar white clover seed season, the white clover seed crop at the Harter ranch is now under the attack of the with prices of oranges from 50c to $1 a box less than last year. Lemons are now selling for the lowest price in seven years, due to the large crop, frst grade boxes being $4.50 as com. CRUDE MARKET Cat Creek - Lance Creek Osage Grass Creek, lig! Grass Creek, Greybull Torchlight Elk Basin Rock Creek -. Salt Creek -. Big Muddy Mule Creek Sunbursth J Se Hamilton Dome Prospect of Short Crop In Com With May POWELL, Wyo.. Aug. 2.—Early potatoes raised in this region will not be able to compete in the Casper CHICAGO, Aug. 2.—Wheat and Wi important event of the past|market with those shipped in from| Ferris -. corn prices were both higher as a week was a meeting here of promin-| Scottsbluff and the state of Kansas, poce = result of today’s short session of ent Platte county rarmers with rep-|fcoording to W. B. Thomson who ON ed ob te aca the ‘grain exchange but the wheat resentatives of the Great Western| has just returned from making a Aer closing was unsettled with Septem- market survey. He regards the mar- ket not nearly so good as a year ago, and feels that Powell farmers have not the same opportunity in Casper as farmers out of the state to the east. Sugar company. An address was made by W. D. Lippitt, first vice president and general manager of the company, in which he declared. “The’ situation is largely in the hands of the Wheatland community and the farmers on these flats. -We have demonstrated our faith in the future of the territory by doing verything in our power to bring bout the building of the-south spur. nd we shall work with you, tooth d nail, to induce the railroad to iid the north spur. “But preceding the construction of ‘sugar factory there must be a und development in the district, a jowledge of beet growing and sub- ntial evidence that the district grow a sufficient beet tonnage to a factory profitably. "Phe building of a sugar factory ’t like drilling an oll well. There uldn’t be a lot of ‘hip, hip, hur- ’ and wild rumors connected with jugar factory. Unlike ol wells, factorjgs are not built on ex- tions but on assured and pro- jon. ‘his territory looks exceptional- omising. We are anxious to co- te with you in its development the hope that eventually it will possible the congtruction here We are ready to we have the re- and the organization to do it ly; and having been with you ‘the beginning of sugar beet ing in this locality we will be ‘st to come in here with a sugar when conditions warrant uuction.”” Hier in the week President Hale in of the Burlington railroad ice President Robert Rice of plorado and Southern, were In town for cnference with r of commerce officials in re- p the construction of the north ber at $1.32% and December at $1.35%. Corn continued firm with September marked up to $1.14% and December to $1.03 The greatest gains of the week in the grain and provision market were scored by corn and hogs, based on prospects of a short crop. May corn sold early in the week above the dollar mark, the highest price ever known for this season of the year except under war-time con- ditions. The value of all farm prod- ucts soared in consequence of this development. Heavy receipts of wheat at Kan- sas City and other termigals and rains in the cought etviaber nec: tions of Canada acted as a drag on wheat trading, which was further depressed by profit-taking sales of those who had taken advantage of the advance. Hog values were pushed up as much as $3.50 a hundred but later Bessemer Big Indian Boston Wyoming Buck Creek --. Burke Blackstone Salt Creek DEAVER, Wyo., Aug. 2.—Vaccina- tion is being used by several farmers near here to prevent their cattle from contracting a form of influenza which has caused some loss recent- ly. Central © 1pe --------— Consolidated Royalty — Cow Guicn ----—---- 1. 20 oo - 10 04 05 12 06 30 OT 7.00 09 01 -10 Market Gossip 3, 60 eee e-nene--ee= (08 09% Frantz -----—--------- Gates Jupiter os Kinney Coastal -..... .09 Lance Creek Royalty - .00% 01 Marine -~----~--2---~ 3.00 3.15 Mike Henry ---.---- .00% .01 Mountain and Gulf .. 145 1.60 New York Oil --...-.- 9.00 11.00 Picardy 02 / .04. Preston Red Bank Royalty and Producers Sunset Western Westeru Ol Tove — Western States --.--. Wyo-Kane -..----... EW a Mountain Producers CHEYENNE, Wyo., Aug. Judge T. B. Kennedy of the Federal court for Wyoming has given the Kinney-Coastal Oil company and Micheal Keiffer et al until Aug. 11 to file briefs jn the Kinney-Coastal’s ‘suit to prevent Kelffer from using patented land in the Salt Creek oil field for townsite pruposes. Keiffer holds a patent to the land that does not convey mineral rights. ‘The, Kinney-Coastal company holds a Fed- eral Jease on the mineral rights and asserts that use of the surface for townsite purposes is interfering with its, drilling operations. It therefore seeks an injunction forbidding Keif- fer to use the land for townsite pur- poses or any other purpose that may interfere with development of the mineral lease rights. ~=o~ KANSAS CITY, Mo., Aug. 2.— This city 1s beginning to reap its share of the golden harvests of Mis- souri and Kansas. With wheat money pouring into the farmers und the stock market mounting sky- ward, ‘prosperity {s not only just around the corner, it {s thrusting its head into the portals of local mer- cartile establishments. Wholesalers, retail merchants and mail order establishments already are feeling the bulge and are preparing for substantial increases this fall, 24.00 8.25 11.00 62.00 213.00 215.00 11.00 11.12 58.’ 59.25 Se c. Miss Virginia Gildersleeve, dean of Barnard college and one of the most brilliant of American women educators, has been nominated for the presidency of the Internation! Federation of University women, Pra Mutuj 0. CHICAGO, Aug. 2.—Department store trade and wholesale trade in drugs, dry goods, groceries and Indiana [ BUSINESS BRIEFS Cal! the Tribuae for highway in-|ehoes in this territory declined formation, which is about to open its third bier nial convention at Christiania. ts for municipal light and the federal power plant Che Casper Sunday Cridune Grain Oils Continue Firm Despite Unfavorable News. of the United States Steel Consolidation rumors gave rise to avy speculation in the raflroad issues while speculative activity in the motor shares was revived in expectation of increased sales with the issuance of new model making their appearance on now the market. In the face of another increase in daily crude production shown by the American Petroleum Institute and reductions in Midcontinent crude. prices, olls held firm and scored some improvement. Fresh buying of the copper shares followed increases in the prices of copper and silver metal. The gencral eutlook was brighter by reason of progress made toward @ reparations settlement by the allled conference at London, pared with $6.50 to $7.00 last year. Grapefruit prices are about 25c a box under last year: NEW ORLEANS—Importations of bananas are running 14 per cent ahead of last year, owing to the large crop in Central America. Prices aver- age $3.50 a hundred pounds. Automobiles DETROIT—Wiills Saint Claire have announced a new 4-passenger sport model which will sell at an advance of $100 over the present sport model. Eggs ST. PAUL—Headquarters of the Minnesota co-operative Poultry and Egg Exchange, which does a $4,000,- 000 a year business, have been locat- ed here, Farmers are receiving from 20 to 28 cents a dozen for their eggs, officials .sald today. Tobacco Philadelphia — The Pennsylvania tobacco crop is in excellent condition and the estimated yield is placed at 52,800,000 pounds. This is far below 1928 production but well above the 10-year average. Iron and Steel ST. LOUIS—There is a larger vol- ume of business being done in iron and steel in this section, with’ in- quiries numerous and sales satistac- tory but production has not been allowed to exceed consumption. Silk SEATTLE—Silk imports thru this port for July totaled 18,593 bales, or slightly under the June figure: CORN AND HOGS ARE FEATURED IN TRADING Leads to Sharp Uptum Selling Above the Chicago Mart. suffered a severe slump under heavy marketing of porkers at the leading markets, Sharp fluctuations in sympathy with values of other farm products developed in the provision market but marked gains were recorded. Today's range of grain and pro- vision prices follows: Dollar Mark in Wheat— Open High Low Close Sept. - 1.30% 1.33% 1.30% Dec. --.- 1.84% 1.36% 1.34% May Comn— Sept. Dec. May Oats— 1.39% 141% 1.39% = 1.11% 99% 1.00 1.04% By GEORGE T. HUGHES (Copyright, 1924, by Consolidated press Association) Should the Investor Watch Market Fluctuations? There is a great difference of opin- jon among investment advisres on just how much attention the average make inquiry at once as troublé ts. fs an advance in the q’ should take thought as to not he ought to sell and some other security ac profits. market flutuations in the price of! jn question, As a rule market fluctua his bonds and stocks. On the one) tions in gilt edge investments whe hand there are some who say he} ther bonds or preferred stocks hav should pay no attention whatever to} a relation to value, They move in such fluctuations provided he has! sympathy with the current charge selected in the first place a sound investment. They say that these Price changes are brought about by traders who make their profits and take their losses by the ups and downs of securities and that these cheap and going down dear. the funded obligations of est corporations such a: ups and downs have no relation! Telephone & Telegraph or United whatever to real value. States Steel need not concern him: From the standpoint of those who| self about market changes. in the hold this view the most desirable in-| price of his security. vestment is one which jd not traded] But when his interest Hes in a in to any great extent and so does not fluctuate in price. On the other hand it ts claimed that every inves tor ought to keep himself more or less informed about the market for his securities. | These authorities say be roughly measured by ed return it is essential vestor have someone do it for that a sharp drop in market price is} who are Ne or unwilling to take @ warning to the investor that some-| this trouble ought to confine their thing Is wrong and that he shouldinvestments to the gilt edge c! ryman’s Investment In the same way if there Both these appearently for money going up when money is A man who is the owner of United, States government bonds or bond or stock in any deg tive and the degree of speculation can should watch the Livestock :: All Markets to what the juotation he whether or reinvest in cepting his conflicting when it is the str Amer! ng 3 ree specula- the prornis- that the in- market or him. Tho Grain Marketing Progress Of Corporation Watched By J. C. ROYLE, according to reliable (Copyright, 1924, Casper Tribune.)| the middie west. NEW YORK, Aug. 2.—Farmers| ‘The company has bee under th keting a $26,000,000. ‘This capita’ into oné million shares stock at $1 a share, shares of class “A” pre and grain men are watching cle the progress of the new grain m: keting company of Chicago which has been formed around the proper- ties of the Armour Grain company, the Rosenbaum Grain corporation, Tilinois co-operati t, with a capitalization of , tprobably reports from nm organized mar- 1 is divided of vommon one million ferred stock Rosenbaum Brothers and J. C. 5 a share and 500,000 shares of Schaffer at Chicago, and the Davis “B" preferred stock at $50 a Nott and Merrill Grain company of Kansas City, the price to be paid The company has started with a for which will be determined later. | paid in working capital of $4,000,000 As might be expected, farmers| supplied through the companies are divided as to the advisability of | whose properties are to form the purchasing stock in tho concern,| nucleus of the concern: BUSINESS CONDITIONS AND FALL ELECTION Roger W. Babson, Noted Statistician and Analyst, Discusses Immediate and Future Outlook in Nation. 2 BABSON PARK, Mass., Aug. 2.— ; there must be a straigh pt and clean Several times, during the last few/cut fight between Coolidge a weeks Roger W. Babson has be Davis. Neither will give y questioned regarding the pos thought to Lafollette and LaFol effect of the,election on general bus-|lette will not bother to spend any iness conditions. Mr. Babson has|/time in New York In the great continually stated that when all|Central W rn states, however, in three parties had made up thelr |stead of directing their fight against one another Coolidge an in a way combine ag lette. Therefore two di paign policles will be v neously the tickets he would make a statement. His analysis of the situation was made public today. “During the past week talked with’ leading men po the two great partie statistician. “I ask question of both the Republi T not ob. wet dow ans ‘may id Davis will Jnst LaFol {ferent cam- aged simul ctions of ngland and states the ject to hav Democratic leaders, namel « n between are your chances for election? tion Moreover, they They both replied, ‘We are sure of must us the argument that victory in November provided La | Democratic election means a lower- Follette does not secure enough|ing of the tariff and the) closing states to throw the election into|@own of many of our — industrial Congress. Furthermore, LaFollette's| Plants in order to raise funds, In votes are dependent upon the price|the Central West, however, nelther of wheat on election day.’ This may|the Republican or Democratic ties can talk gloom beca enough gloom there alre “Heretofore,” says Mr. has been thought ac rats to have bad when tho be an exaggerated statement but for the first time in American his- tory it is to the advantage of both great parties to have good business between now and the election, “In certain states like Ne Sept. --.. 48% .50% 48% Dee. - 51% 53) 9.61% 2% May ~. 54% 55% 54% 55% Sept. 13.87 13.60 13.82 Oct. 13.92 13.62 13.90 13.87 18.72 13.87 measure, to the annual summer let-up in buying, Stores have reduced thelr stocks approximately 6 per cent and have on hand about a three months’ supply. Cumulative sales for the year so far in ¢: hardware and dry goods for 1 Wisconsin, Michigan and Ir showed declines of 4, 6 and 12 per cent respectively, compared with the sales for the corresponding period of 1923. CHICAGO, Aug. 2.—Piant output of electrical energy in this district was 496,131,370 kilowatt hours in July, or over 6 per cent below June, iudustrial, sales were 211,654,849 kilowatt hours, a decrcuse of three markedly last month due, in large | and one half per cent, use th ead: Babson, able by “gt the business on Repfiblicans PAGE SEVEN. are in power, and it has been thought advisable by the Republi. cans to have bad business on elec tion day when the Democrats have been in power. This year bread lines would hurt the Democrats as much as the Republica: When a bank is closed in the Central West votes are made for LaFollette. Every cent that the price of wheat drops between now and election day may easily give LaFollette 100,000 votes, and every cent that the price of wheat goes up between now and election may result in giving the Republicans and Democrats 50,000 more votes each, “Altho the leaders of both parties tend to belittle LaFollette and refer to his age and physical infirmities, yet it must be remembered that he is a very astute politician. This is shown by the fact that his ticket Is being made up equally by Demo- crats and Republicans. Moreover, LaFollette is shrewd in belng radi- cal without getting tled up with the socialists and ultra radicals whom he knows swing very few votes when business is good. He also knows thet when the farmers are property owners they must naturally be con- servative and are radicals only when the business conditions are temporarily against them. If wheat were $2.00 a bushel today, we would have no third party in the (eld, and yet if LaFollette were president today the price of wheat would not be one cent more than It is now. Such is the futility and hypocrisy of politics. — Presi- dents do not make business condi- but business conditions make presidents. Therefore, I. repeat that heretofore it has been to the advantage of one of the two great parties to have poor business con- ditions on election day but this year condtfons are entiely diffeent. Whether or not the Republican and Democratic managers will be able to make better business between now and election I don’t know, but certainly are going to try to Jo so throughout the Central west at least. The best barometer of LaFollete’s strength will be the ac- fons of the Babsonchart which re- Cects general business activity. It now stands at 12 per cent below normal compared with 10 per cent tions, below normal a year ago. — BOS Y. Aug. 2.—The state utilities commission now is consider- ing the petition of the Springfeld Street railway for permission to in- rease fares from 7 to 10 cents. Miss Margaret Naylor, the first woman to take up deep-sea diving as 1 profession and who has been suc- ressful in recovering treasure from Scottish coast, hus had several nar- cow escapes in the course of her vork. Once her feet, encased in weavy diving boots, got caught in the lower rungs of a ladder she waa ising, The more the men above ried to pull her up, the worke be- ame her plilght, for her head was rulled right out of her helmet into the body of her dress. Only her presence of mind saved SALT CREEK BUSSES 3 Busses a Day Each Way LEAVE CASPER Townsend Hotel 8a. m., 10 a.ym., 2:30 p. m. LEAVE SALT CREEK my Pp. m., 5:30 p. m. BAGGAGE AND EXPRESS Bus Leaves 9:30 Daily Salt Creek Transportation Company TELEPHONE 144 8 You Can Make Your Goal With a Savings Account! 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