Casper Daily Tribune Newspaper, August 25, 1924, Page 7

Oil Finance Seeresccd Output Piles Up Petroleum Stocks on Hand| BY J. ©. ROYLE right 1924, Casper Tribune) YORK, Aug. °5—‘Conduc- tet, atop the ship, I want to get 00f and walk.” Thad time worn Jape, ‘still repre- Qente the situation of the oll indus- try {n the United States For the industry cannot walk. while oi} Ww running at its present rate and efforts at curtal]ment in one section re nullified, in most’ part, by in- creased activities in others. The present rate of production is around tivo million barrels & day, the highont level of the year. Con- umption {s higher than ever before, but_not so high as output. Stocks Of oil ahd gasoline in storage, there- fore, continue to pile up undeterred by recent cuts in prices of crude and occasional reductions in the quotations for gasoline. More automobiles aro running on the streets and roads of the United States than ever before. More ves- sels are’ belng changed from coal to of] burners, but there is little indt- cation that consumption will be suf- ficient, even in the height of the touring season, close at hand, to make serious inroads into these re- rerves. Clines and anticlines, deep- er oils and shales are being pursued relentlessly by the prospectors of the. oil industry and new producing wells aro being opened up despite the fact that the large companies have> reduced new drilling opera- tions to a minimum. : Prices still are averaging some- what higher than at this time last summer and profits of some com- paniea undoubtedly are greater. Short tenure of leases is the diffi- eulty the Industry has to contend with at present. When holders of leases have only a limited time in whieh to draw the black gold from beneath the surface, they are unwil lung to halt whether the market for oR is flooded or not. A@joining property owners are therefore compelled to continue pro duction in self defense, in order te keep the of! lakes beneath their ground from being drained throug «nother hole. Extensions of the Torrance and Dominiguez fields in California and of the Budna Vista field in Kern county have served to check the steady decline in California produc- tion which has been in progress since last. October when the tlow > Fish ‘ | PORTLAND, Ore., Aug, 25.—The Alaska canned salmon industry is showing improvement. One packer has advanced’ reds 25 cents com- pared with o year ago, It is be- Yeved the Alaska pack, which will end the season next Monday. will show a shortage of.25 per cent as compared with a year ago. Dry Goods ST. LOUIS, Aug. 25.—Outside merchants here in greater Numbers than any previous season, are buy- Ing fearlessly for fall neéds, being gonvinced that fair prices, fine crops and broader distribution of goods wll offset the early season elackness of trade. — ‘Textiles BOSTON, Aug. 25.—The Argentine ambassador, who conferred with tex- tile mep here recently, declared that New England cotton manufacturing interests have entered negotialons with Argentine bankers to establish factories in| that country. .__ Steed PITTSBURGH, Aug. 25.—The out- #tanding factor in the local fron and steel situation is the better demand for foundry pig iron and this has resulted in some sellers increasing Everyman’s Facts About Foreign Bonds ‘The attention of American invest- ors has been turned toward foreign Uonde in greater degree recently than In any time in two years, The question ariees then as to how far the securities of othar governments than ovr own are desirable invest- ments. Now a forelgn government bend cannot be judged by the same standards that we apply to a do- mestio rafiroad or {industrial issue. Two factors havs to be considered, one political and the other financial, in judging the soundness of a for- eign government security. To anyone who has followed the market for foreign dollar bonds dealt fn here duting the past few years this ts aelf evident. That the case of French bonds, for instance. Quo- tations lave fluctuated over a wide range as the outlook varied for an agreement on the reparations prob- lem. When the French first invaded the Ruhr'the bonds made their low fecord and political news has gov- @med the price movement more or tess ever since. Or consider the bonds of Brazil. A month or so-ago when the cable @jspatches announced a revolution: ery cutbreak, the {mportance of which it was Impossible to estimate tm tia country, there wag a sharp Yreok in the market price of the bends. Doubtiess in both instances @ geod many Investors. sacrificed their holdings at a loss and vowed tiever to invest in,# foreign secur- {ty again, It follows then that in- vertors likely to be: disturbed hy there sort of fluctuations ought not ta consider foreign bonds except those of such politically stable coun thes for cxample, Canada and Great Britain. The predlém involved {ts not pri- marily ope « banker or an investor from the West was affecting every market in the country. July production figures’ for Cal- Bonds : fhe Casver Daily Cribune ‘Stocks Grain MONDAY. AUGUST 25, 19: Livestock :: All Markets NEWS AND QUOTATIONS BY LEASED WIRE OIL SECURITIES By Wileen Cranmer & On Allied Chemical & Dye ——.-- American Can - American Car & Foundry —-~ American International ---.- ifornia just available showed an}: output of 19,274,755 berrels, a gaiz of nearly half a million barrels over June. Estimates so far this month indicate that the tncrease over the June figures has grown rather than diminished. A; the larger com- panies are engaged in vigorous wild- cat operations, the most active of which are centered in the Kettleman hills district where deep, test wells are being sunk. . Consumption of the California pro- duct has fallen far below produc- tion which oll men in othér sections regard as 4 dragging weight on the oll price kite, _ Stocks of crude olf on hand in California at-the begin- ning of this month totaled 101,462,- 225 barrels, or about 10,000,000 above the surplus available the first ofthis year, This is attributed in the West to less use of fuel oil by railroads and the smaller number of tourists which visited California early this’ summer, Additional cuts in the prices of crude oil have been anticipated in the mid-continent field. But strange as it may seem, this prediction has served to strengthen the tone of gasoline and kerosene markets in Oklahoma, Kansas and Texas. In fact material increases fn prices are anticipated by those who say that jobbers have held off in hope of a further cut in erude and+have been forced by increased demand to pur- chase hurriedly for tempo: re quirements. Refiners, however, are most conservative in their ideas over the long distance situation cov- ering the remalnder of the year. Kenneth R. Kingsbury, president of the Standard Qil of California, says cuts !n mid-continent and Gulf crudes will have little effect on the California situation, since prices of California crude and finished pro- ducts are so low that they are not competitive with the middie west oils and still afford sufficient mar- gin to allow California to ship to the Atlantic seaboard. Such sMip- ments are running above 100,000 barrels a day. Improved methods have resulted in a greater yield of gasoline to re- finers from the same amount of crude oil and active methods now are being taken through consolida- tions and intensive marketing’ meth~ ods to increase consumption both of gasoline and fuel oils. Trade News their rates 50 cents a ton for deliv- ‘ery over the remainder of the year. Automobiles DETROIT, Aug. 25.—The *Contl- nental Motors plant here has in- creased its production schedule to a marked degree this month and Aug- ust shipments are “expected to be within 10 per cent of maximum. 4 Lumber SEATTLE, Aug. 25.—Pacific coast sawmills are keeping sales above production. Sales run eleven million feet a week. Tobacco LANCASTER, Pa., Aug. 25.—To- bacco growing in this section now is so far advanced that damage from pests, including the Japanese beetle now seems to have passed. Harvest- ing has commenced in the southern part of the county and the yield is spotty, some fields being excellent in quality, while others are inferior. Grain e JEFFERSON CITY, Mo., Aug. 25. The Missouri! Public Service com- mission has issued a warning of a probable shortage of freight cars ow- ing to the heavy movement of grain from the northwest. = Investment | adviser can solve. It is something upon which everyone will haye to make up his own mind. The other factor which governs the investment rating of foreign government bonds is more susceptible of analysis. That is the financial people who bought German mark securities when it was very plain that if Germany kept on printing paper marks without Umit that there could be only disaster ahead ean readily understand this now. Finally there ts the question of character. A country has a reputa- tion for keeping its pledged word just as individuals have and this too should be taken into consideration. As a mater of fact it is the exception for any government permanently to default payment either of principal or interest on its exterior debt. Any such default makes it almost impos- sible for that country to borrow again until the default has been rem- edied. I do not intend to discourage foreign Investment. For some peo- ple foreign bonds are doubtless high- ly desirable and certainly the return is very atractive. No one. however, ought to buy them without fully un- derstanding the nature of the invest- ment. (fr, Hughes’ sixty-second article will appear in the Casper Tribune next Wednesday. LIBERTY BONDS NEW bonds. « YORK, sed 3448 Aug! 100 Liberty ; second 4s 3. Second 4Ks 4448 102.4; fourth 8. government “4\s 10: Lehi dio Tribute wantads bring results. Avantic Coast Line -. Baldwin Locomotive ~_.-___. Baltimowy and- Obie»... Bethleh&a steel California Petroleurn —______ Pacific Chicago end Northwestern __ Chicago, Mil and St. Paul, pf Chicago, R. I. and Pac. Chile C Consolidated Gas .....--__..- Corn Products new —..-,—--- Ce cy ap aa! | a Crucible Steel Cuba Cane Sugar pfd. Davison Chemical ~ Du Pont de Nemours --.. Brie —_ Famous Players Lasky -. General Arphalt -. General Electric -..-.... General Motors ex div. Great Northern pfd. -. Gulf States Steel Houston Oil -.,-----.-.__. T'linois Central International Harvester -. Int. Mer, Marine pfd. ~ Int. Tel. and Tel. —-.. Louisville and Nash Mack Truck ~ Marland Ot Maxwell Motors A ~. Middle States Oil — Missouri Kan and Tex. Missour! Pacific pfd. National Lead New Orleans, Tex. and Mex. New York Central --._... Norfolk and Western — Northern Pacific ---.._.__. Pacific Oil ---.-.-~... % Pan American P eeormultB_-%~_.__ Pan American Petroleum B _ 55% Pennsylvania ----.-_ W% Producers and Refiners Pure Oil Reading -----. Republic Iron and Steel -.. Reynolds Tobacco B --- Seaboard Alr Line ~.----_- Sears Roebuck --. Sinclair Con -...-~.. Slows-Sheffield Steel and Iron Southern Pacific -..-. Southern Railway --........ Southern Railway pfd Standard Oil of Cal. -.. Studebaker Corporation Standard Ofl of N. J. ex div — Texas Co. _ Texas and. Pacific ~~ _. Tobacco Products -----: Transcontinental Oil ~-___.. Union Pacific -. United Drug -— U. 8S. Cast Iron Pipe -. U. 8, Ind. Alcohot ~ ;}United States Rubber United States Steel Utah Copper Westinghouse Willys Overland Woolworth 14% 60 43 15% 60% 47 Tlisdlay 2 Indiana -_..... Nat, Tran. -. N. Y. ‘Tran. Nor. Pipe ------- Ohio Ott Prairie Oil Prairie Pipe Solar Ref. Grass Creek, heavy Greybu!l ~ Torchlight Elk Basin Rock Creek Salt Creek Big Muddy Mule Creek Sunburst Pilot Butte Lander NEW YORK,-Aug. 25.—Bar silver 68%} Mexican dollars 52% LONDON, Aug. 3440 per ounce. cent. —Bar silver, Money, 3% per aio nchaesistithamalliel dh: .| clepts 50,000; uneve: Bid Ask Bessemer Big. Indian Boston Wyoming —- Buck Cttek —------ Burke’. .2:-----.- Black Stone-Salt Crk. Charpell Columbine Centra: cipe —-. Consolidated Cow Gulcn Domino _ Elkhorn B. T. Wii Pergo - Frantz Gates Jupiter Kinney Coastal 7s, Lance Creek Royalty .0 Marina Mika Henry Mountain Pioardy Preston Sunset _ Tom Bell Royaity Western Expforatién Western Oli wPietas Western States < Gelnroc Ss S. O. Indiana . New York Oi Ohio Oit Prairie .Ol . Mutual _ 8.0. Indiana <_ —— CHICAGO, | Aug ay lower than Saturday's best” t desirable grades show minimum. 4 and slaughter pig big packers doin bu govd. .and 325. pound better 140 $9.00@ $9.50; $8.7! ing pigs $8. lutte; top cheice averages — $9 to 150 pound packing sows “desirable strong w 0@ $8.75; « héays light lights $5.00@$9.80 hogs smooth $8.45 @$8. hogs rough $7.90@$8.4 $980; ton "$20.00. Cattle—R done; few" carly: sales; steady to 25c lower; early top xome. light and handy, we held above $11.00; biddin on matured steer quality largely médium ~ to mcderate eprinkling cholce long fed offering both light and aweighty; re- 7.000 killed unas to stoek ceipts include western grassers flesh; five londs averaging around feeder dealers $7.00 same outlet $6.70¢ comparatively scarce bulls - firm 1c. I more numerous; cholc to small killers ubout large interests; selecte approximately Jarg in string 00. poun four sheep and f sales feeding OMAHA, ment of better grade lower; others « packing siow; 10¢"to 15 bulk 800 pound butchers $9.16 to top $9.40; desitable 160 to 210 weights $6.90 to $9.15; packin, mostly $8.15 to $8.85;. rough down $8; bulk of sales. $ 9 rage most! lower top lond bulk 3 low; helt weak to 1¢ Be off; vou to bulls we and feed mand fair), mostly 105 she , and grading to 05 04% 9 15° 57.00 11.00 59.00 210,00 11,12 —Hogs—Re to 10¢ ime off $10.06 weights $9.50@$10.00; medium -weights $9.70 @$10.00; Night’ weigths $8:804%$10.00; packing packing ; ‘slaughter pigs $7.756@$8.75; bulk sales $8.30@ ipts 30,000; very little yearlings $19. Tt.stee Se lower ; these predominat- ing in fed steers, contingent; killing good > lower offerings paying ~ $9.35; poun ¢ sows stook stock ead, most a. 150 and heifers: ockers few] > $7.65. Revetpts ne t and lambs $11.50 $4.50 to “$5.25; ‘tull ewes $5.75 to $7 mouth br KANSAS CITY, “Mo. Aug nd> yea other bullet and y 8,00 "to $9 bid on long *yearlinizyy ‘better ¥ whe stock to ‘order, kinds p higher;" bi lig welght mostly steady cAlve mit to lio higher; aind feeders, $4 bulk 75@7.83;, stock $ feede nds fleshy eling ev eding rlings, beef buyers slow; cows 31 OGK MARKET DROPS SHARPLY Various Shares React With Industials Beaing Brunt of Attack NEW YORK, Aug. 25.—Stock prices experienced: another sharp reaction dn today’s market. Cessa- tion of pool activities encouraged a on of bear selling which, turn, forced the closing out of many weakly margined accounts. fals were the hardest hit, liquidation of these issues being ted by the receivership pre * against Wilson and Com- in Sales approximated 900,000 shares. With buying and selling orders about evenly balanced, stock mar- ket prices failed to reveal a clearly defined trend when trading was re- sumed today The upward move- showed considerable vitality . U.S. steel, Allis Chalmers <well Motors “A” advane a point, but was counter- acted by some selling of the copper nd of] shares. Prices turned abruptly downward after the execution of initial order: of active industrials un- Pp loss orders and bring- yarp recessions. Losses % % points were recorded by American Can, Goneral Electric, Chandler and Colorado Fuel. De- clines ranging from 1 to 1% points, included Bethlehem Steel, Davison al, U. §. Cast Iron Pipe and » Oll preferred. Good buying support was forthcoming for Max- well Motors “A" which rose almost 2 points to a new high for the year at 58%. Nash Motors, Chile Cop- per and International Cement also Were strong, the latter reaching a new top price at 47%. Foreign ex- changes opened steady, Readjustment of speculative ac- counts continued with selling ac- rated by a bad break in cotton | prices. Olls were adversely affect- Jed by soline price cuts in New |F land although Houston rose 2% | points. <A farther break of 7 points in Colorado fuel, which touched 36, also had an unsettling effect. Heavy pots in the Industrial list included General Blectric, Atlantic Refining, Famous Players, American Can, United Railways, Investment Pre- ferred, Davison Chemical and Adams ress, off 2 to 2% points, Call money opened at 2 per cent. Short covering was evident in some of the recognized industrial ders in the early afternoon but there was an increase of selling pressure in various other stocks, many rauiroads and industrials los ing 2 to 3 points, The Wilson and Company stock’ broke two to four points and the bonds three to seven on the announcement of the re- evivership. The closing was. weak. Low priced rails and industrials were in free supply during the afternoon, International paper, Barnsdalk A, Worthington Pump, Wabash A, St. Louis Southwestern and New Haven dropping 2 to 4 points. | METALS NEW YORK, Aug. 25.—Copper, y; electrolytic spot and nearby, @13%; futures, 13%13% Tin—Easy; spot and futures, $52.00. ady; number 1 northern, number 2 northern, number 2 southern, 2 0. $18.00@18.50. Steady; spot, $8.00@8.37. S East St. Louis, spot, ; futures, $6.26, imony+-Spot, $10.25. POTATOES CHICAGO, Aug. 25.—Potatoes trading moderate, market about steady; receipts 147 cars; total U. 8. 8 27; Sunday Irish Cobblers 5; Missouri sack- Cobblers $1.00@1.25; Ken. Irish Cobblers $1.65@ Jersey sacked Cobblers ¢ bulk $1.65; Minnesota bulk early Ohios $1.05@1.15; sacked $1.10@1.20; few $1.25; Nebraska sacked early Ohios $1.30@1.35; few $1.40. Irish sacked " Forei gn Exchange NEW YORK, Aug. 25.—Forelgn exchanges firm. Quotations in Great Britain demand 448\%; 44846; 60 day bills on banks France demand 5.3914 5.40; Italy demand 4.41 Belgium demand 49914; rmany demand per Holland 38.66; Nor- Sweden 26 Denmark Switzerland 18.72; 181; Poland kia 2.9939; Jugo Slavia Austria .0014%; Rumania 47 sentina 33:87; Brazil 10.12; 41%; Montreal 99 21-32. Tokio and heifers, $2.50@5.25; calves, 13,000; shipper t, mostly Se to 10¢ lower than Saturday's best time; top, $9.65; bulls of sales, $9.00@9.60; desirable 180 to 270-pound avXerages, $9.55@9.65; big packers going slow, biddimg 15@25c lower; packing sows, $8.25@8.50; Pigs, steady, $7.50@7.75. —-} pts, 11,000; range fully 60c lower; top Color. ; other westerns, $1 ; lower; practical top lambs | natives, ; common to good lots, b$9.50@15 steady to weak; Colorado ewes, $5,856.00. WHEAT MARKET PROVES STRONG Firmness In Liverpool Is Reflected On This Side Of Ocean CHICAGO, Aug. 25.—Firmness in the Liverpool market was reflected on this side of the Atlantic today, the wheat market here showing a strong undertone at the start. Ad- vices that a large export business had developed overnight also tends to give strength to the market here. fhe early advance was easily attain- ed because of a good class of com- mission house buying and some short covering. Initial quotations, which varied from unchanged figures to 1%c higher, with September, $1.23% to $1.24% and December $1.28 to 31.29, were followed by @ drop in all deliveries to below Saturday's finish. Lack of aggressive buying affected corn and oats, both markets dropping sharply after the opening, with stop loss orders uncovered on the way down, At the start the market w: -nfluenced more or less on reports of generally more favorable weathor over the week ond, . After starting at to advance t6 %ec decline, with December 105 to 195%, the corn market underwent a reaction which in some mMmstances showed « loss of more than two cents from the initial figures. Oats were %o higher to %c lower at the beginning with December 50% to 60% cents, and soon followed the trend of corn. Lower quotations of hogs affected provisions, the market declining sharply with lard in the lead. Later the market “rallied with wheat and closed unsettled, which values 1%c down to 1%c up, with December $1.05% to $1.06. Wheat prices rallied toward the finish, offerings becoming scarce, when improved buying was brought out on the early break in prices. The close was firm at a net gain of % to 1%c with September, $1.24 to 31.24% and December $1.29 to.$1.29% No, 2 red, $1.28@1.29; No. 2 hard, $1.23@1.24%; corn, No. 2, mixed, $1.13%4@1.14%4; No. 2 yellow, $1.14% @1.17; oats, No. 2, white, 46@48%; No. 3, white, 44% @46%c; rye, No. 1, 85440; barley, 75@80c; timothy seed, $6.00@7.75; clover seed, $11.50 @21.50; lard, $13.20; ribs, $12.00; bel- Mes, $13.12, Open High Low Close 1.24% 1.21% 129% 1.26% 1.85% 1.82% Wheat— Sept. — 1.23% Dec, -. 1.28 May -- 1.34% Corn— Sept. . 1.12% Dec. ~ 1.04% May .- 1.06 Oats — Sept. - 47% Dec, ~- 50% May bis Lard— Sept. -12.97 Oct. ~13.00 Nov. -13.00 Ribs— Sept. -11.70 Oct. 11.65 Bellies— Sept. Oct. 1.24 1.29 1.34% 1.18% 107% 1.08% 1.41% 1.05% 1.06% ABBY 51% 52% 46 AB% 52% 12.65 12.60 12.75 AT% 50% 54% 13.02 1310 13.15 13.02 13.12 19.15 11.80 11.90 11.50 11.65 11,65 11.80 aN 13.00 13.15 13.16 MINNEAPOLIS, Aug. Number 1 northern ,$ number 1 hard 1.46%; number choice —Wheat. 26% @1.31%; spring, $1.31%@ 1 dark h to fancy, %; good to choice, $1.31 * ordinafy to good, $1,28% @1.31%; old September, $1.26% 31.26% old December, $1. old May, $1.35% Corn—Number 1.12%. Oats—Number 3 white 44% @44%e. Barley—65@80c; rye, number 2, 79% @80c; flax, number 1, $2.55@ 2.60. A new, $1.3 5% yellow, $1.11%@ MINNEAPOLIS, Aug. 25.—Four unchanged to 16c lower! family pat- ents $7.45@$7.55; bran 00, Visible Grain Supply NEW YORK, Aug. 25.—The vis ible supply of American grain shows the following changes in bushels, Wheat increased 7,560,000 Corn increased Oats increased 2,560,000. Rye increased 361,000. Barley increased 177,000. ae — Butter and Eggs CHICAGO, Ayg. 25—Butter lower creamery extras J6% standards 36%; extra firsts 3539@360; firsts 34@ 34%; seconds 32@33%c. Eges higher; receipts 16,496 cases; firsts 34@36c; ordinary firsts 31@ 83c. pi Pei ene eae COTTON PRICE TAKES TUMBLE NEW YORK, Aug., 25.—Cotton prices fell 107 points, or over $5 @ bale, on the opening call today fol- lowing a big break in Liverpool as the result of Saturday's bearish gov- ernment report. October on the call here sold ay low as 24.45 NEW YORK, Aug. 25.—Refined sugar was firmer and unchanged to, 5 points higher ,list quotations now ranging from 6.85 to 7.00 for fine granulated Refined futures were NEW YORK, Aug. Sugar tu- tures, closed easy; approximate sales, 43,000 tons; September, 353;.Decem: ber, 3.63; January, 3.61; March, 3.31. nominal Demand ‘Continues Strong In Wool Market at Fi Prices; Last By J. A. HILL The wool market continues to ad- vance and show gréat strength, both in American and foreign markets The eastern papers have estimated that foreign wools have advanced tem per ‘cent as compared with the close of the London sales about two months ago. South American wools have’shown an advance of about five cents a pound within the last week The tale of several Wygming clips at forty cents, with a top price of forty-four cents in Boston, reported from Thermopolis, for a clip of wool that cbyld not have been sold for more than thirty-four or thirty-five cents during the depression, indi- cates that some of the courageous growers have re: dd some reward at least for not forcing. thelr wool on the market when no one wanted it Whatever benefit there is to come from the advance in wool prices tn she future will not do the growers \ great deal of good on this yeas clip. It is estimated that fot more than ten per cent of the wool in the United Statest4s in the hands of tiie growers. Moreover, the dealers sre not in a position to benefit as mucn »y the strong foreign markets as hey would have had they had more zonfidence in the future. It is esti- mated that between fifty and sixty per cent of this year's domestic clip is already in the hands of the manu- tacturers. Undoubtedly the dealors made spme profit on what they turn- ed over this ear!y:in the season, but they hope to make more on what they still hold, The American Woolen company at its opening of goods that are to be used in the clothing to be so!d 1 summer, has evidently taken advan sage of its large purchases of cheap wool during the depression of the ast. two months. Prices of general are estimated to b cent lower than, they were close of the previous heavyweight season last winter. In.one way this may be depressing influence on the market because the manufacturers will evidently not have a great deal Clips Sold ulate consumption end when th present small supply of woo} in t hands of the manufacturers is ¢: hausted, they must replace it 4 some manner even if they hare t raise the ce of goods and-thu Paxs the increased price of wool o} to the consumer, The attitude that the dealers beginning to take is Interesting t those who witnessed the pariick| manner in which the growers an their financial backers forced onto the market between the mi of May and the middle of Jply. dealers are now saying chron the! inspired market writers thal the d& cline in wool values during. t spring and summer was entirely called for, One factor that is havin & stimulating effect upon prices the rise of foreign exchange, appa ently due to the Dawes sett\men The pound sterling has advNnce from 430 to 455 within a very shoy period. This is equivaient to a # per cent rise in the price of wo impe~s¢ from Greag Britain. The -ssociated Press report pul Ushed in this paper yesterday ind cates that wool has advanced sti further, a ugh the manufactur are not heavy buyers. The doa) are so confident of the future t they are spevulating by buying fro each other. Fine staple wool is quo ed by the Comméfeial Bulletin $1.40 a pound cléan basis, the hig! est quotation that has -appe since sometime in April. Althoael half blood staple is quoted at, $1.2: sales are reported for extra chdic wool of this grade at $1:30 or eve: higher. The following ranch prices fo average Wyoming wool are compu od frera the latest quotations for te: ritory woo! in the Commercial letin of Bostom Fine staplo Hatf blood combing 7@3: Three-eighths blood combing 37@ 40) Quarter blood combing Low quarter -.. Common and braid 80@33 Fine and fine medium French of margin to take up any further rise in price of wool. On the other hand, the low prices made will stim- U.9, SENATOR QGURES RATES (Continued from Page One) tor in transportation problems there has been a bitter struggle between er and rail carriers” he said. “The struggle has not been even or fair, for with the Interstate Com- merce commission on the side of the railroads, transportation on our rivers has not had a fighting chance for existence, “Our government, through tlie commerce commission, has practical- ly destroyed water transportation on our ipland water ways, for with few txceptions the commission has per- mitted railroads to charge less for a longer haul than for a shorter haul in order to meet water competition. This has made {t impossible to in terest capita] in building up water transportation on rivers and at the ame timo it has Impaired the growth and development of cur ‘coastwise shipping. “The railroads have succeeded in getting « monopoly of transporta- tion from the commerce - commis- sion,” ho suld, asserting ‘ino river boat or other Water transportation has been permitted to ‘exist which the railroads could destroy.” “Discriminations in freight rates, against commumities are un-Amert can," the Idaho senator declared. “All we ask here jn the intermoun- tain states is a square deal, the same rights and privileges that peo. ple of the east enjoy, so tha Ly develop our own resources, Under the ernmental policy of permitting riminations in freight rates nst the. interior states of the nd south, we are building up Sreat centers of population on the coast at the expense of the interior, a most dangerous policy for best in- terests of the government lies in a proper distribution of its people over the entire country. “We of the mountajn states of the west are making @ Cikht against the discriminatory rates that have been forced upon us for many years, and unless wo can eliminite tifis dis- crimination, our. state@must always remain agricultural and pastoral, for capital never will invest in ary in dustry or In any part of the country wh there is discrinfination in freight rates 2 oat Market Gossip EW YORK, Aug. 26.—Prices of Wyoming olls ut 2 p. m. today were ¥.sted on the New York Curb as fol lows: Standard of Indiana, 56 Wyoming, 86; Glénrock, Moun- tain Producers, 18; Mutual, 10%, al rash san MONEY NEW YORK, Aug. steady: high, 2; 1 : 2; slowing bid ‘ last loan, 2} call loans a ancés, 115; time collate 90 2%@3; 4-6 ainst ac loans, firm; mixed days, Boston | 1 money | combing ~-~.--_-__.......384@36 Fine and fine medium comb- ing . 29@32 OFA CAREW {5 ASKING DIVORCE (Continued from bones. The fr: septal cartilag Other instances of physical +io! ence are Usted in the alleged join| statement In which the actrees agree} to continue as Howard's wife, “upo: his promise to not in any manne repeat any of the matters referre to.’ Page One) ure included also Some of the “matters referred to include admission that Howard ha. accused her of too friendly relation with other men and that these ace sations were untrue and witHoul foundation. Also his promise not t associate with other women. Pathet ates tic reflecting to have bees after two,.at de were also brough reproachful Ora whd disinterred letters written: b: Howard to his parents One of these stated that Howar: had signed his wife's name to thousand dollar note and that! hi loved her but abused here, Another of the notes ts sald tq have been written after he is, al leged to have taken vernol Hollywood a couple of months ago} following a quarrel. This episod caused considerable comment $1 Low Angeles *newspapers, as a mat id to be Howard was given radic remedies for veronal potsoning at-th recetying hospital and the entird story was denied by Howard nea da “TC went through not again,” said t “Ora, my Uttl Now your desires, forget me| t remember that in my way loved you. There is no mistake: this time. I am going through with what was foiled last night.” When the family of John F. Hi ard, the salad king of Haverhpl, Mass., v summering in Hooly Wood fn 1922, Ora Qurew met tho kon and they Were married at Miss Ca rew's Hoolswood home tn December. Their honeymoon took them. te Haverhiil, where Howard, Sr., gay his son twe thousand dolars te stakt in bu with. Bride an Broom sige promissory note, But How * the star showed dav for work and,-in , took her to New York wher lis the Claridge. Ther she alleges, Howard embarked 6n al heetic of sprees and often! hars] dome also this once but «. an girl.” addressec to career her ura. sc she went | following, and signed a movie con tragt. Her husband opposed her re umed movie career unless she m a contract with the same com Di Sto ways that when she wa unable to. do #0, ho locked her in-w room and gave her a terriffic thresh the which was her'| climax of no one! on the At an months, Prime commercial paper, 343%. ¥ temp’ date t another