Casper Daily Tribune Newspaper, September 23, 1924, Page 7

Oil : > as ght 1934, by Consolidated and Loan Associations So many of my readers have in- wired about building and lean as- lations and their method of opery ion that a few words of explana, ion on this subject seem highly de- ble. First then, the objects of - bujding and loan associgtion or sayings and joan P under the supervision of the tate banking department. The joney that the members save fs to make TUESDAY, SEPTEMBER 23, 1924 re the loans on ara are in the late ne: Hood of thejr offices and the value of which the responsible officials of the yssocia- tion are in apo sition accurately to appraise. Tho comparatively high earnings usually aecruing to the share: due to the low overhead and to the fact that all the fits belong to the members. In other words the building and loan agsocia- tio mis @ mutual co-operative Insti- tution surrounded by the safe-guards tiaw | ‘This 's not to say that tles for exist nor that all associations are. equally successful. One should use the same precausions in a building and loan association to join as one uses in loans on improved | Tho Berrowers b to pay off their mortgages, u a8 well’as interest, accord: ing t0 @ regulap schedule. At the i time a borrowing member par: D in the profits of the asso: lon. “Tho strength of these associations, ide from the strict supervision hnder which they operate, Hes in idea, howeve! in its essential soundness. The first on Macon an ae 1 and in. Phii A 1831 and now there are more than 10,000 associa- tions in the United States with over 7,000,000 members and $3,500,000,000 total assets, (Mr. Hugres’ gaventy-fourth ar tiele will appear in the Wednesday Tribune.) -» BUSINESS BRIEFS USINESS BRIELFS -pere en ATLANTA, Sept, 23,—-The Geor- Cotton Growers’ Co-operative oriation is reelving heavy shi nents of cotton from sduth G here early sinning was brought but by hot, dry weather. Receipts re five times as largo as at this ime last year and on one day ip he lavt week receipts by the associa- i totaled 2,770 bales, the largest Hey's receipte-in the history of the tion, Officials of the con-_ n say it will handle 25,000 bales than last year, Rains recently we ini boll weevil damage 9 cottor!, but have aided sweet po- Commodity, SPOKANE, Sept. 23.—Except in est ni e of Tot boxes to the car and spected to bring an average of $2 ‘box. . ; SACRAMENTO, Sept. —~ Cali lornia, will produce 1,571,000 carte les this year, according to (Bye by_ wre stute agricultural uthorities. Weather which was tar orable up to the middle of August how is so dry that the result may a crop of small sized fruit, ‘ ——e ; |) Texas, Sept, 23. he growers of the lower Kio nde with begin shipping grape- fruit next month. The season's ment is expected to reach one carlo nt of pipe Ine rung and in- ativity due to low prices resulted n drop of 1,703 barrels in the average oll production in and Arkansas fields last Bight mew wells added 1,216 Ig tp initial production, Textiles, BOSTON, Sept. 23.—The Gleason le Woolen Mill weavers have truck against s reduction of wages ind the requirement that one weaver jperate two Iooms, Grain and Stock Opinions From Brokerage Wire i RD WARREN: We would Balad on any break. <A further cline is expected in corn. , BARTLET? VRAZIOR: uying wheat on setback corn is nat eR ‘Srewsiv' STEIN ALSTRIN; Wheat needs pnstant foreign buying to hold ad nees. Corn acts heavy, LOWJTZ: Favor selling wheat on wd spots and buying corn for a rn on any further di JACKSON BROTHERS: All reces- ion met liberal export buying; corn pokes lower, MONSON McKINNON: Look for trading market for the time betng tures. ey Avoid the bulges When buying wheat. Corn should be sold but on bulges only as we have & good deoline. WHITE: Believe wheat should be ought on dips, Corn acts heavy, kyo might-eowily have a sharp dlp export business should slacken. CHICAGO TRIBUNE; The belief hat ynlees there is a natural In so {ri heds'ng pressure, wheat AM advance, especially if the for- demand continues Lies fraps mition is to slew in buying - While enme traders believe - Advise Buying meet increasing competition in cot- ton goods manufacture. The use of unionized foretgn-bern labor is be- ing strongly opponed. —— ATLANTA, Sept. 28,—Rea] estate men here fein rare are soya nary apartments and residences at pres ent than for severg] years, Rents of such dwellings have suffered a re- duction of approximately 10 per cent, but this does not. seem to have stim ulated demand. SPRINGFIELD, is., Sept. Uunols department of Iabor reports a slight falling off in employment in Peoria and East St. Louis, but in other citties of the state labor con: ditions have shown jmprovement, American Tel and Tel, ,----- American sreeeetee American Zinc, Lead and Sm da, POP eceerreene= @ 2 Atchison —--.-e-re-ererepeen= 10d ; Coust Line --yreeee- 399 cago and Chicago, Mil & St, Paul pfd Chicago, R. 1. and Pac, ------ © Chile Copper ----ererrnyeer-- COCG CO!8 ----rer-ar--7r---== Colarod Fuel and Iron -—---- Corn Products new .----—---~ Cosden Ol] ---+9------------- Cruelble Steel . Cuba Cane Sugar pfd. ------- Pavison Chemical -.,,----- Du Pont de Nemours .------- Great Northern pfd, Gut States Steel +--..-r--: International Harvester ,- Int, Mer, Marine pid eyerery- Int, Tol and Tel, ~ Invincible Ol -----~-<r9e. Kelly Springfield Tire .-.--. Kennecott Copper --..-..-+-~ Louisvilie and Nashville ----~ Mack Truck ..--« Now Orleans, Tex and Mex, .. New York Central ---..-.-.~ Hartford. Trade News|| zie Groceries, PITTSBURGH, Sept. 23. Sales of groceries in the coal and coke re sions Js light, owing to the fact that few miners are on full time. They are buying only staple articics a — ; Nuts. Z FORT WORTH, Sept. 23.--Tho po; can crop in Brown county will be only half that of last year and a fourth of normal. Dry weather sap- ped the vitality of the trees, normal yield is one million pounds of pecans, Railroad Equipment. NEW ORLEANS, Sept. 23.—— Tho Texag and Pacific and Missouri Pa. cific railroads ere floating issue of $7,500,000 of which $4,000, 000 will be used to improve termina] facilities here, a bond Millinery KANSAS CITY, Sept. 23. Some millinery manufacturers are sending out hurry calls for larger sized hats for women who have net bobbed their hald.. Retailers haye lage Ae: 98 inches, but now are asking 25 inch frames, —_—— Automobiles, TOPEKA, Kan. Sept: 23. -—- The prosperity of Seacaee ip evidenced 571, as compared with 367,837 at this time last year, .Pan American Petroleum B -- ONNSYIVANIA ~-~~-~-ryeereene Producers and Iefinera ----- PUPO OM erergeereneervececee ee ed Stopublic Iron and Steet ,..-~ Reyn Tobucco B ~-5e...- ae alr Al weereernre Roebuck ane weverrerereree Southern aRilway ex div, ~~ Southern Nailway pfd ex diy. Standard Ol] of Cal, Standard Ol! of 'N. J. --co-ve. Studebaker Corporation -.-. TERAG CO, ~sreenve-rvecmrenen Texas Ad PAChlic -r-ereeeren Tabacco Products -.---e-0--- ne United Drug -~--s- U, 8, Cast Iron Pipe .---e--- U. B, Ind, AlOONO] pereneper~ United States Rubber -..,..- United States Steel ~~ Coal, HAZLUTON, Pa., Gept, 23.-—The | Gal, contra] Pennsylvania Quarry Strip: | Gi ping and Construction company which has warded the contract for stripping anthracite vein for the Lehigh Valley Con} company, is expected to start work immedi: ately. . more lquidation fs Ukely to develop in corn, the market is in @ position to rally sharply en any material change in the news. Pynchon & Co.: Should the pro- posed reduction in savings banks interest be placed Into effect it con he construed as an execedingly bullish argument on bonds and high grade dividend paying stocks, Livingston & Co.: Leading stocks are at high level but barring some unexpected development, we believe the market Is going higher and that good stocks can be Lough: on recessius. Can directors moet this month and since only the eguler dividend ig expected, there probab! will not be much in the stocis at this the. Hornblower and Weeks: We an: ticipate that a market of slowly ih- creasing volume and moderate strength this week will sive way to inereased activity and etrong ad vance the week following continue to held stocks, Miller & Co,: The favorable com ditions at hand and those stocks helped by easy credit may gain strength in the Met, S. Bache & Co: We expect the begining of a sueceesion of group movements and the first to go und¢érway could be the low priced rails and the moters pithough the coppers and the tobgeegs are in a position io follow closely, A. Switzer; The stock market hag caught its sécond wind and is headed for higher levela, J. New ptd, --«. 103 WUNOls PIUPe weverrereee 12: NGANR FIPC s-ewereen ational Transit ++... Now York Transit on. Northern TAP cereroen 9 srerserereseree pe ‘ oe DR, MOK, wepeeereren PRUrie Oll ~erpereeeeen 207 Prairie PIPC weesereree 105 Bolan, vosedhsenteseansed 7 S dnd ahead So. Penn Oll veerewers 183 W. Penn O8 aseenee 10 QO. 8, ©. Ohlo Swan and Vacuum — wweweregenenre Washington --senr, 8. O. NeOb, -rereer-oe. Srv eerer ree BCR sercee Grass Creek, light . Greybull Salt Creek . Big Muddy . Mule Creek Sunburat Hamilton Ferris Byron Notches -..--.. Pilet Butte Londer Cait Dome the Lribnae tor highwa: One 2s ee nm le ll 76 O. ING, wveceeereeeee FON, 565% 7 i Che Casper Daily Cribune 78 AND QUOTATIONS B¥ LEASED SECURITIES Consolidated Hoysity - Cow Gulon Cea ing poteececr ess peeeeneenen--= DYAnts nen T. Willams. -----* Gales. -s-ensearseearen Jupiter © ----. Kinney Coastal -—~--- Lance Crusk Royalty, v1 meereceennres 500 Musing Mike HEOry en—amennm O96 fountain @& Gulf ~--- 1,25 1.90 New York Oil were---~ 9,00 10,00 PHArdY peeeeewnrnene- 108 05 Preston yeeewererenese 01% 02 Red Bank ----------44,00 45.00 Royalty & Producers... 04 05 Sunret ---.----. = 07 08 Tom Belt Royalty --. .04 6 Western Exploration — 3.00 Western States Western States ... be 08 03 ols 02 08 3.15 oy 05.08 CURB OLOSING. Mountain Producers. 19,25 19. Glenrock Oll -------.. 15 Balt Creek Pras, --. 25.25 Balt Creek Cons, -. 7. New York il -..----- OHIO OM ewews--e--nse Prairie OU ---.------0 Mutual .-.--» 10,75 8, O, Indiana,.------- 66.25 Cities Sepyice Com. --- 143.50 ns — LIVESTOCK CHICAGO, Sept. 23-—~U. S, De- partment of Agvriculture.)—Hogs-— Receipts, 16,000;. desirable grades largely 10 to 15e bigher; few sel 10 to’ 20e¢ up; underweight mo: unchanged; lower grades, slow ceipts very light; top, $10.50 and choice 160 to 240 pound $10.00@10.40; majority better 260 te $50 pound butchers, $9.85@10.00; de- sirable 140 to 1650 pound weight, $9.50@9.90; packing sow mostly $83.60@8.95; good and choice strong weight killing pigs, $8:75@09.25 heavyweight hogs, $! @10.20; m dium, §9.80@10.50; light, $8.90@10.60; light Mght, . $8.00@10.26; packing hogs, smooth, $8.75@9.05; packing hogs, rough, $8.15@8.75; slaughter pigs} $5.25 @9.26. ttle—Receipts, 7,000; most kill- Ing classes unevenly higher; lower grades ted weighty steers, slow, very uneven; others eng western gra erg, 10 to 15c up; desirable fed yeur- -ings and handy weight, 24¢ up in instances; fat she steck sharing ad- vance; bujla, strong to 10¢ higher; 50¢ higher; best yearli several loads, $10.60 to $11,00; eevera) hundred head western grasp steers to Killers, $6.50@6.35; one wad, $7.25; appyeximately one half receipts comprise western grass offerings; bulk range run steers in willer flesh; bulk veal calyes to packers, $14,00@12,00; outsidets pay- ing upward to $12,$0; stockers and feeders, doarce, firm. Bheep— Receipts, 27,000; early gales fat lambs, about steady; sor img moderate; bulls desirable nat! $12.50@158.00; culls, mostly $9.50@ 10,00; choice range lumbs, $13.00; pest held at $15.50; sheep and feed- Ing lambs, steady; bulls fat ewes, #5.00@6.60; early sales choice feed: ing labs, $18,00@18.10. KANSAS CITY, Mo. Sept. 23.— = ves 5,001 stead, i. 56,50 143.00 10c higher; top yearlings $11.0 ols, Mier welghta $11.75; bull fed steers and yearlings 09@ $10.00; rs slow, id ot 3 early aroun lig to Killers §5,00@36,50; she stock, bulls and culyes steady in between grades cows slow; bull graan cows $3.40@$4.50; canners and cutters $2.06@$3.25; native bolognas $3.50@$4.00; top yeals $10.00; 1 lums and heavies $3.004)36.75; etec'! ors and feeders steers slow, stead; bulls $4.75@$7.00; stock cows and heifers duil, steady to $2,75@$5.60; choice heifers late yesterdgy $06.25; stock calves steady at $4.76@§0.75, Hogs—Reco:pts 9,000; shipper mare get mostly. 10c higher; spots up 1b¢; top 310,10; packers going slow; few sules steady tq strong; early top $9.70; bulls desirable 180 to 270 und averages $9.70@$10.00; pack- tis BOWS §$8.25@$8.75; stock pige weak to Zic lower; bulk $7-75@ 88. Bheep--Réceipts 15,000; very slow; lambs mostly 10 to 20c higher; best Colorados $13.00; others 812.75@ $12.86; sheep fully eteady; top ewes $6.09; others $6. OMAHA, Neb., Sept. 28,-Hoge —~ Recelpis 6,000; mostly }@15e higher; Ughts at mogt; bulk desirable 160 to 190 strong P age cost Monday $9.12; weight 273, Cattle—Roecelpts 8,250; best steers and yearlings active, mostly 10@1i¢ Kigher; bull $9@10,.50; medium weight eteers averaging over 1,200 pounds $10.85; top long yearlings $11; grass cows and helfers active, strong to mostlyl0@1ic hisher, can- ners and cutters 10@150 higher; bo- logna bulls and veals fully steady; ealves strong; stockers and feeders bulk grasa cows and anners and cute 256@3.16; bologna bylls $3.25 veal top $10; steckers and feeders $5.75@7.60. Sheep-—Receipts $4,000; Wing classey slow, weak to lower; early sales fat range lambs $12 @12.75; best he'd a, 412@ 12,66; early $5. 755 00d and cholee feederp strong; oth Grain WALL STREET'S ~ TONE SFM By Bulls In Specialty Shares NEW YORK, Sep. 23.—Steady ac- cumulation ef the public utility and the food shares, znost of which bet: ered thelr previous high prices, tm: parted strength to the general list after an exarly period of irregularity in today's market, Bullish demon- strations in certain speciolties re- sulted-in gains of ohe to seven points. Sales approximated 850,000 shares, Stock prices displayed a firm un dertone at the opening of today’s Stock market. Selling pressure was lifted from the stangard industrials with the result that all opened frac tlonaly higher, Frisco preferred and General Baking euch opened a point higher, while Nash Motors climbed % to a new 1924 top at 138%. Beth- iehm Steel was one pf the few heavy spots, Renewal of a demand for the pub- lie u@ity and food shares iesues fea, tured the early ‘ dealings. United Railways Investment preferred ad. yaneed two points, the common 15 and North American, National Bis- cult, California Packing, General Blectric, Standard Plate Glass, Unit- ed Bruit, Legse Wiles second preferr red, Central” Leather preferred and American Tobseco climbed one to Manila Electric Railwoay seoar- ur points toa new tep at 110% Famous Players, DyPent and Wese tern Pacific each sagged about ao point. Forelgn Exchanges opened easier, Merger possibilities began to play an important part in the accumula- tion of public utility shares, prices of which also have been enhanced by the progressive Increase in. earnings reported by many of the larger com- panies. More than a degen stoc wit of them. public utilities, es shed new peak prices, Mack T ed par for the first time in month, Market experts. dit- fer as to whether the recent hestl- tancy by professional traders and the investing public was due te un- easiness over the political situation or a desire fer further light on the trend of fall business. Specialties continued to receive the most atten- ton, Unitel Drug was pushed up points, All America Cables 3 and Worthington Pump, Union Tank Car, Ceneral Electric, Commercial Solyent B, American Tobacco A and National Biscuit and Genera! saking extended their early gains to, two points or more, Norfolk ond Western way hvavy but other coal- ers, ingluding Lackwanna, Delaware and Ifudson and Lehigh Valley showed moderate strength. Call money renewed gt 2 per cent, Moving up of a dozen of the lead: ing grain carriers and coalers one to two points had a tonie effect on the ufternoon trading. Such diver, sified shares 5 Colorado Fuel, Pace ifie ON, U. 8. Industrial Alcon Wostern Union, Pullman, Union Bag and Paper, Allis Chalmers, Kresge Department Stores, United States Rubber, American Chicle, Vivadou, and Manhattan Electrical supply rose 1 to 2%, United States Cast Iron Pipe climbed 2% to 110%. In- ternallonal Shoe 4% to 161, and Gen- eral Baking 6% to 1.66%, all new top: Van Raalte Silk preferred broke 11 points tg 63, a new low price, The closing was strong. Extensive short covering in Armer- ican Can, which was bid up to 190% Stiinulated the buying of other stendard industrials in the late deal- ings, \:orthinston Pump extended its gain to six point: | : Pecinn Biakoge ‘NEW YORK, Sept. 23.—Yoreign exchanges easy; quotations in cents: Great Hritain demand 445%; cables 446%; 60 day bills on banks 443%. Vrance demand 3 cables 7h Italy demand 4.38; cables 4.88R; B glumdemand 4.8644; cables 4.87, Gefmany demand per trillion 23%; Holland 38.51; Norway. 13.80; Bwe- den 58; Demark 17,14; Switaer- land 18.94; Spain 19.23; Greece de- mand 175; Poland 1944 Czecho Slo- Vakie 4.99%; Jugo Slavia 1404 Austria 00144); Mumania 50%; Ar- gentina + Brazil 10.80; Tokio 404%; Montreal @9 81-82. NEW YORK, Sept, 23.—Refined fughr was unchanged at $7.05 to $7.10 for fine granulated with only a slight inauify reported, Refined futures were normal, ere dull weak; early sgles range fecd- ing lambs $14.25@12.85; feeding orae yearlings excluded upward to Denver Prices. ds DENVER, Colo., Sept, 29.—{U, 5, Department of Agriculture.}--Hoge Receipts, $00; quailty uneven, mostly 10 to %5@ higher; top, $10.60; other goed to choice loads gen ly $10.10 to $10.40; plainer grade: down to $10.00; packing sows, dy, $7.76 to $8,00; few fat pigs, $8.00; stock pigs, $6.85, . Cattle--Recelpts, 1,50 cows, fully steady feedors, steady to ey steers, $9.2 te $7.50; gra good helfers, enlyes, 100; steckers and ong; Might feed- ose, $6.50 5 to $4.75; $6.15 to $6 using 1,025 pounds, $7.10; plainer grades, $4.50 to 0; (eeder cows, ¢ helfors, $3.25 to 500; bulk of (ceder lambs; slow; no early waiee; talking steady on classes, . WHEAT PRICES MOVE UPWARD Sharp Jump In Final Offer- ings Noted In Chicago Markets CHICAGO, Sept, 23.—Largely as #@ result of buring by houges with foreign connections, wheat averaged higher in price today during the early dealings. It was said that the purchasing fer Buropean account totalled fully 1,000,000 bushels, How- ever, better weather for the wheat crop moyement in Canada, together with weakness of the corn market here tended to ease down wheat yalues after an initial bulge, The epening, which ranged from % to jgc higher, with December $1.32% to $1,83%, and May $1.98 to $1.38%, was followed by a sug that in some cases went slightly below yester- day's finish, Favorable weather. had a pro nounced bearish effect in corn and oats. After opening unchanged to lta lower, December $1.03 to $1.03%, the corn market showed losses all areund. Oats started unchanged to %o off, December Sic, Later the whole market dropped to a material extent, Provisions were upheld by higher ations on hogs. . he fact that the United States visible supply ef wheat ts the larg: est since 1919 had some transient bearing influence, but was soon far more than offset by reports that rye sales to Europe in the last two. days amounted to 4,000,000 bushels. Wheat advanced sharply in the final dealings, and closed strong, 2% to 8%c net higher, December $1.35% to $1,35% and May $1,40% to $1.4}. Country offerings of corn to rive were considerably larger, and at one time today the September Gclivery was 6 cents lower than yesterday’s finish, but trading in that delivery was very small Towards the lest, the market ralli owing to sympathy with an advance in wheat prices. Corn closed u settled at 1J4c net lower. to lige guin, December $1.95 to $1.05%%. Wheat— Open High Low Close 29 «1.8L 1.28 138 141 1.87% 140% 1.10% 1,05% 1.10 1,05% 1.02 1.05 1.06% 1.03% 1.064% wore 1:10 1.03 1.04 16% 49% 53% ATH 51y 55 Ally 55% Bopt. ----15.90 Qt, were B27 NOV. enol 5.20. Ribs-—~ Sept. ---- -.-- 18.37 13.32 18.32 13.30 18.27 13.20 11.90 11.87 11.87 11,87 13, i $1,34%; No, 2 $1,901 @1.91%. 2 mixed, $1.06%@ yellow, $1.07% @1.09%%, Oats—No. 2 white, 481 @19¢; No, BS white, 46@47c. Rye-No. %, $1.05%4, Barley-=80@90c, Timothy seed—-$5.25@6. Clover seed—$14.00@ Lard—$13. Vibs—-$12.2 Bellics—$13.' MINNEAPOLIS, Minn., Sept, 25. h wheat: No, 1. northern, $1,314 @1.-85%; No, 1 dark northern sprin, choice to fancy,. $1.42%@ geod to choice, 41145 ordinary to good, § 1.56%; No. 1 hard spring, $1.26@ 1.5046; No, 1 dark hard Montana, on track, $1.261%@186%; to arrive, $1,265@1,30'%; September, $1.2 old Deveyabey, $1,3244; new Decem- ber, $1.22%; old May, new May, $1,881. Corn—No, 8 yellow, $1.05@1.05%- Oats~No. 3 white, 444 Barley—71 M82e, o—No. ¢, $1.04@1.04%. No. 1, $ 2.23% Visible Grain Supply. NEW YORI, Sept. 2 The vie ible supply of American grain shows the following ehances in bushels; Wheat, increased 9,880,000, Corn, increased 149,000, Oats, increased 8,829,000, Thye, decreased 1,431,000, \ Barley, increased 1,260,000. San eneeeaee | METALS NEW YORK, Sept, 23.— Copper, quiet; electrolytic gopt and nearby 18; futures 13@18%. Tin firm, spot and futures $46.50, Tron steady and unchanged, Lead quiet, spot $8; zine steady, east St. Louls spot and fur tures $6.10@6,.2, antimoney spot at $11.05, MONEY NEW FORK, Sept. 23.—Call money. steady; high 2 % low. 2; ruling rate 3) closing bid 2; offered. at 2}; last loan 2 call.loans against accopt- aness 114, Time loans easy, Mixed cojlateral 60:90 days 24%4@2%; 46 monthy"$@3%. Prime commercia} paper 3%. POTATOES CHICAGO weak, receipts , total U, &, ehipments 687; nnesote. gackod wand Jand Ohjos 00¢@ $1; sacked red rivet Obiow $1,101.20; sucked round whites 90¢%31; Wisconsin. bull and sucked round whites 90¢@$1; Lowa sacked round whitey 95¢9$1; Idaho sacked rurale $1.2091.9 ~~Potatacs | cop the bureay of in Crescent Eagle Discovery. Test of the production of the Crescent Eagle discovery well, Grand county, Utah, near Thomp- son. is being held up by the in- ty of drillers to recover a string of tools wedged in the bettom of the hole. Oil continues to fill the hole and attempts made to lower it in order to facilitate Ashing opera- tons have been unsuccessful. A new and heavier type of clutch is being installed at the rig in the be- ef that it will make posaible speedy extraction of the tools. Present depth of the well is 3,205 feet. ou of good grade fills tho hole and in- termittently flows over tho casing head, Lstimates of production are from 600 te 1,200 barrels dafly when obstructions ere cleared away. Re- ports indicate that the Midwest Re- Qning end Texas Production com- panies have geologists scouting the new feld, Shale Development Seen. Exelusiye use in Utah of tho new Trumble carbonizing process for which §2,500,000 has been paid out- right to M. J. Trumble and. asso- clates of California, goes to the Hydrocerbon Process company, ac- ording to word from Salt Lake City; ‘The Utah concern ts to be capitalized at $5,000,000, declares the repert. Purpose of the Hydrocarbon Process company will be to secure and control coal and oil shale lands in Uteh, and to erect gusoline man- ufacturing plants in that state. That gasoline can be made from Utah coal and oil shale for as low as one cent a gallon, is the claim being made. “Inventor of the Trumble retorting process is M, J. Trumble, California millionaire ol] chemist and geologist. Another Utah Test. A standard rig is being erected by the Metropole Oil company (H. L. Willams) on SE of section 1 11, in the Balt Lake valley, 18 miles north ef Moab and southeast of the Crescent Kagle well, Officials of American Woolen quoted as saying there will be no wage reduction at this time. Delaware and Hudson probably will earn more than last year when net was $11.08 a share, Vacuum Oil company denies re- port that they are buying stock of Davis Chemical. Regular quarterly dividend $1.50, on Sears Roebuck, payable Noyem- ber 1, of stock October 15, Gvodyear directors expected to mee. in next few days to consider plan to pay off accumulations on preferred stock and resume cash div- idends. Payment of back dividends may be made in preferred stock or in commen steck or both, Over-Supply Call Money. NEW YORK, Sept, 22.-—-(Wall Street Journal)—Call money renewed at 2 per cente-Phere is a large over: supply and the outside market con tinues to offer at one and half per cont. Time money ageinst stock collat- ral ls in supply at reduced ra quoted toward last week. Up to six monthy 944 with loany at beth prices by outsiders. mimercial paper ta Prime names of turity, immediately ava! for dis count at Wederai Meser bank are sometimes quoted 3 per cent, ar fre quently occurred around the middle of August. Four to six months prime names? 844 per cent, good smaller names 3% to 3% bulk of paper moves at Ut. definitely short ma- bv! Viddler Creels Resumption. .-.- Drilling of the Fiddler Creek test well in Westen county is expo to be resumed this week, according to a repert coming from Osage. The hole is to be carried to a depth of depth of the well is around 3,300 4000 feet, If necessury, P t depth of the wel} Js around feet. ed Mines Officials Here, %. P. Campbel!, bureau of minos supervisor for tho Rocky Mountain California districts, urrived here ' morning from Denver and in company with J, W. Steel, depu supervisor, will visit Salt Creel to, morrow, L. A. Litchfield, Junior enginovr In the coal leasing division of the mines bureau at Denyer, came into the city this morning. He je making an inspection of Wyoming coal fields, New Bureat Appointment. Kenneth Crandall, junior engineer 6 from Tu Cal, has been appointed eng Gager at Teapot Dame. Ne arr teday. He succeeds Edward J, Do wees Who will be transferred to the experimental station at Laraipie. OU News Summary, NEW YORK, Sept. 25.--Two com: pletions of oj] wells in deep sand at Tonkawa indicate that output is de cHaing, ae, still producing about 84,000vbar- rele daily, aceording to Tulsa d patch, Average daily output of crude o in Gulf Const dijetrict in Septernber 20 was against 68. 5 in Powell produced 6a0 Her oll m was p! in Se Smiacke other gradet ” nesa In” petroleum potitor of other 1 oils, Vralrio Qi-and Gas mergoc Fro 76,700 @ Id Tribune well nh PAGE SEVEN a Livestock :; All Markets ducers and Refiners properties Amarillo field with Amarillo company, Mission Ol! company, Handle Pipe Line company and és inte the Amarillo Oll comp & new corporation, —— Guernsey Test Progress. Present ith of the test b drilled in Platte county near Gu sey is more than 1,200 feet, A st of 12tnch casing has been rur shut off cayey formation, Plans to underream and earry the st to a lower depth. It is said considerable off is showing in sump, Work is belng pusher order to get a eompletion by winter weather retards drilling. a Rex Dome Production. The Muddy sand ip Rex } Dome, Albany county, is Alling hole of the QOh{o OU comp: Coughlin well No, 2 with oll, ae ing to reports from Laramie. appears that this well will equa company's Union Pacifig Ne Both the Coughlin and U. P, are to be drilled into the Le sand, b Operating Five Days. Mines of the Union Pacific company near Rock Springs now operating five days a + Orders have been steadily inc ing and it {¢ expected that present work will be kept up least several months to come, Railroad Surveyors Worktv Surveyors for the Colorado Southern railroad arrived yest: in Fert Collins and started the lininary werk of directing the of the spur line =vhieh will h oll from the Whitaker well int: | for the Standard refineries at per. Pipe Line Contracts Contract for the two-mile pip from the Whitasser well: near Collins to the rafiroad, was 1! Tort Collins yesterday by the | Oil company of California, chi erator fn the new district, ‘T! Inch line Is expected to be tn ground and connected within | Mext several weeks. A. complete test of the Wh well's production will be mad soon as the Iine is completed. producer was brought in some | ago from a depth of 4,473. fee started with @ flow then est! at 2,000 barrels. Since, the of tho well has increased a ~| now believed to be good for to 10,000 barrels daily, The _ of 38.6 degrees gravity Baume th: ime the well is making be* 600 and 800 barrels daily fror interstice between six and eigh strings of casing. . This off lowed to flow into the sump then pumped into tankage t' being erected ag rapidly as px on the company’s 80-acre tani Wellington Rotary Test. Contract has been glened fi drilling of a rotary test in the, Sec. 1-8-69, Wort Colling-Well , field, depth of the hole to be c: to 5,000 feet if necessary, ‘Tt which ts to be put down on acres of leases held by the Co Oil and Company will be ' as John ‘orrall No. 1, Collins Spudding Party The spudding in Sunday « lorade Producers’ Kitterma. No. 1 on Wellington dome, w tended by a great crowd, near the derrick nur 00 fest, the Johuso No. 1 of the A. A. Rollestone +] ests drilling near Loveland, s rapidly approaching the t of anticipated production. giene sands are oxpested » below 8,000 feet. The Muddy should be reached at erounc feet. Twenty to 30 days are 'n which to effect a complete No trouble has been experienc the drilling operations have be ducted surcessful with the v electric motors, NEW YORK, Wyoming o! isted on th lows: Standard Ol) Mountain Producers 10%; New York 9 ducers 25% pt. 23.—Kr 2p. m. toda w York Curb (Indiana) 1945; Salt Cree)! seconds 30@ 30% unchanged, receipts higher reamery extras ( firsts (88 to #1 Irregular hennery extras, 67@7lc; n western hennery fe extras, receipts, browns, = coast whitess O@Gie; refri 4@iic; ditto™ firsts, 36 receipts . who! twin age run unquoted - —_——— - —--———- SILVER ° NDON —Bar ounce Sept per LIBERTY BON —~ ~«