Casper Daily Tribune Newspaper, September 26, 1924, Page 9

FRIDAY, SEPTEMBER 26, 1924. «Oil: F inance WOOL PRICES. SHOW STEADY INCREASE All Grades and Qualities. in Demand. This Week at Slight Advance; Quotations Given by Commercial Bulletin BOSTON, Sept. 26.—The Commer- cial Bulletin will say tomorrow: “Steadily the price of wool rises nh here andsabroad. Business has been fairly general in the local mar- cket owtth all qualities in demand at slight ‘advances, both manufacturers and dealers “buying. 4 opening of light weight wo; men’s lines by the American Woolen company has been about on a parity with the prices for mens’ wear fast month, A better response, however, pppears to have been made than a month a0; in fact the goods market seems to be in a healthier situation, all’ around, “The forelgn markets are all ap- proximately five per cent for the ‘week, London belng at the top point of the current series, while the for- eign primary markets are tending} dearer, d “Mohair is steady with limited demand, The primary markets are hardly changed.” ‘The Commercial Bulletin will pub- lish wool. quotations as follows: Everyman’s By GEORGE T. HUGHES. (Copgright, «1924, by Consolidated Press Association.) Building and Loan Associations. In the preeeding article in this series some of the "general facts pertaining to building and loan arsotations were stated. Because of the varying laws under which these associations operate in the different states, {lt is nof possible to give details which apply to all of them. It will help, however, toward understanding the methods if the case of One association, operating in New York state, is takon for illustration. There are two classes of members, those who borrow and those who simply save. It is the funds of the latter which make possible the loans to the former, There are two kinds of shares, ane those re- quirthg a specified sum to be paid each month and the other ono. on which any amount may be deposited at any time. The dividends paid on the first class are 6 per cent and th yn tho second class. wer cate oa W surprising ho’ hapidly rneney accumulates when dividends are compounded every tix months eyen at only 5 per cent. If $1.00 per month is saved the total in 147 months will amount to $201.68. If the rate is 6 per cent the gain, of course, is more rapid, Loans are made to members only end the mortgages are paid off by monthly installments of 1 per cent covering both ifterest and reduc- Domestic, Ohio and Pennsylvania pieces—Delaine unwashed 60@61c; \-bleod combing 59@60c; %-blood combing 58@5%. Michigan and New York fleeces—= Delaine unwashed 57c; haif-blood % -blogd unwash- \4-blood unwashed 54@ Wisconsin, Missour! and average w Eng'and; half-blood 54@55c; shlood §5@56e; %-blood 524)53c, Seoured hasis—Oregon eastern number 1 staple $1.42@1.47; fine and F, M. combing $1.35@1.40; eastern clothing $1.20@1.25; valley number 1, $1.28@1.32, ‘Territory—Montana and similar; fine staple choice $1,45@1.50; halt- hloed combing $1.30@1.35; %-blood combing $1.15@1.18 ood comb- ing 98¢@$1.02, Pulled—Delaine $1.48@1.52; A A. $1.45@1.50; fine A supers $1.30@ 1.35; A $1.20@ mohair beat combing 75@80c; best carding 656@ 70e, Investment tion of principal and requiring elev- en years and seven months to pay off the entire indebtedness. In tho case of free shares, that is the shares of members who are not borrowers, withdrawals may be made rt any time although if the withdrawals’ are made before the shares are five years old a portion of the credited dividends is for- felted. This loss may be saved, however, if the member wants tem: porary accommodation only by bor+ rowing from the association putting up his pass-book as security. In this way he may secure up to 90 per cent of the value of lis account. Later when he pays off the loan his interest In the association is un- impaired. When a member borrows to build a house the association examines and approves the plans and pays the contracter in installments as the building progresses, This par- Uculay association helps its mem- bers by supplying plans and speci- ical for pi tive om buildings at a nominal cost. This ls very advantageous to those lack: ing experience or confidence in their own ability to select an architect. The fact that the association is willing to make a loan on the pro- posed building is also an endorse- ment of the reasonableness of the cost of the proposed building. As has been stated different assocla- tions have varying provisions, both as to'savings and as to loans, Commodity Trade News (Copyright, 1924, Casper Tribune) Leather. ST, LOUIS—There is no particur lar demand for sole leather at pre- vailing high prices, Sales of scoured backs are reported at 50 to 520 for No. 1 and 43c to 46c for tannery runs. Fruits. ST. LOUIS—Searctiy of Missourl apples hag caused an advance of $1 a barre] in the last month. Hops. SEATTLE—Western Oregon and Washington hop crops will be larger than previous official estimates and of betver quality than was expected because of recent rains, Picking soon will be finished. Prime hops are quoted at 13c to 14e a pound. The Oregon crop is estimated at 70,000 bates or 10 per cent greater than last year. Poultry. FORT WORTH—The Texas tury key crop for Thanksgiving prom- ises to be unusually heavy and of better than average quality, Tur keys on sandy land are tho best in the state, ~ Dry Goods. PITTSBURGH —Who'esale dry goods lines in the Pittsburgh dis- urfét have shown marked improve- ment within the past week, thanks to the stimulus of cooler weather, ‘The hand-to-mouth buying policy of retailers had kept stocks at a low level and the improved demand was quickly felt by wholesale houses. Timber, SEATTLE-—Tota! toss to privately owned timber and logging equip: ment in Washington from forest fires will. not bes more than $750,000 this year, according to Chief For- ester Joy, as recent rains have ex: inguished. most of the fires, Log: ging operations are expected to be resumed in full within the next few weeks, Textiles. GROSVERNORDALE, Mass,—The North Grosvenor mi!], which has been on half time, has resumed ful ¢ operation but at 2 15 per cent ver wage scale, e 1,100 hands de little protest when told this the only basis on which the mill could run, MANCHESTER, N. H.—Employes was the Amoskeag company, appar: ently eonyineed that wage reduction plans are being made, have asked the company to join with them in bringing living costs down in pro- portion. NEW ORLEANS—The _ shipping season for oysters and shrimp is in full swing, with oysters of unusually fine quality. Shrimp packing has commenced and indications point to one of the largest packs on record. oil. SHREVEPORT, La.—The cut of 1Bo in all grades of Louisiana and Arkansas crude ojl is expected further to curtail operations, which now are at the lowest ebb in five years in the Smackover field, The daily ayerage run is about 80,000 barrels, HOUSTON—Total average produc- tion in the south Texas-Gulf coast oll fields in the past week wag 910 barrels; an increase of 12, The Gulf coast fisld gained 7,910 and south Texas 4,640, Eleyen pro- ducers were completed in the coastal field. wo eaieernieliebrosivans Batter and Eggs CHICAGO, Sept. 26. — Butter, higher; creamery extras 35 4c; stand- ards 34c; extra firsts 33% @34%0; firsts 31% @32%c; seconds 3030 %c. Eges higher, receipts 5.425 cases; firsts 36@40c; ordinary firsts a2@ Sic, POTATOES CHICAGO, Sept. 26.—Potatoes, trading fair, market steady; receipts 62 cars; total U. 8. shipments 901; Minnesota and North Dakota sacked Red River Ohios 96c@$1.10; sacked | round whites 90¢@$1.00; sacked sand lan@ Ohlos 80@90c; Wisconsin sacked round ‘whites 90c@$1.05; Colorado sacked people's russets $1.70; South Dakota sacked’ Karly Ohlos 95c$1.05. —— Flour MINNEAPOLIS, Minn., Sept, 26. —Fiour unchanged to 10c higher. Family patents $7.55@§7.70. ‘Bran $24.00 @ $24.50. phe SE as Se li Flax DULUTH, Minn., Sept. flax: September 2.32 2.29%; November 2.2 2.26%; Muy 2.33. American Locomotive ---.--~ American Smelting & Refg. American Sugar --~------ American Tel, and Tel - American Tobacto American Woolen American Zine, Lead and Sm. Anaconda Copper ~---------- Laltimore and Ohio ~-..----- Bet| Steel ------.----- California Petroleum Cerro ile Pasco -. Chandler Motors ~ Chesapeake and Ohio ~-~~, Chicaga and Northwestern ~~ Chicago, Mil. & St, Paul pfd Chicago, R. TNyand Pac. .----~ Chile Copper .---------- Coco Cola os Colorsdo Fuel and Iron --.-- Congoleum --------~---- Consolidated Gas Corn Products new Cosden Oll Crucible Steel -~~--------~ Ciba Cane Sugar pfd. ----.- Davison Chemical -~--~-. Du Pont de Erle | ...------. Famous Players Lasky .----- General Asphalt ex rites ---. 4 General Blectric 2 General Motors ----+.+-<---~ Great Northern pfd. ~ Gulf States Steel Houston Oil Ulinois Central *. (International Harvester, --~~ Int. Invineible Of Kelly Springfield Tire ~-~-.~ Kennecott Copper -. os Loulaville and Nashville -,--~ Mack Truck ~ Marland Oil Maxwel! Motors A Middle St OM wen weeeeeeee Missouri, Kan, and Tex. - Missourt Pacific pfd. ------~ National Lead . oo New Orleans Tex and Mex. New York Central ex div, N. ¥., N, H., and Hartford Norfolk and Western ... Northern Pacific --.----. Pacific Oll -,.+--enees--eee Pan. American Petroleum B-- Pennsylvania ..---------- Sinolair Con’ .--------. Sloss-Sheffield Steel & Iron. Southern Pacific Southern Rattway Southern Railway pfd, ----. /Standard Ol of Cal. Standard Oll of N. J. Transcontinental Oll ~---.--- Union Pacific ~~. United Drug ----- U. 8, Cast Iron Pipe U. 8, Ind Alcohol United States Rubber ~-~~--- United States Steel - Utah Copper -. Westinghouse Anglo Am, Ol, --.----- 14% 15 Borne 210 220 ese 48% 49 42 46 11% 12% 136% 139 91% 94 2% 54 116 106 Chesebrough Mfg. ----- Continental Crescent --+--- Cumberland ----------- Eureka -. Gal. Sig. Com, --. Gal, Sig. Old Pfd. Gal. Sig. New pfd. ---- Tilinojs Pipe ~-------~: Indiana Pipe National Transit Prairie Pipe Solar Refg So. Pipe --nncsoveeeene So. v Torehlight . Hik Basin . Rock Creek ..~ Balt Croek Big Muddy Mule Creek Sunburst Hamilton Dome Ferris Byron Notches Cai! the Tribmne for highway In formation. < Me Che ‘Bonds :: Stocks :: Grain Casper Daily Cribune EWS AND QUOTATIONS BY LEASED WIRE GL SECURITIES Bestemer Big Indian ~. Boston Wyoming Buck Creek Burke . -.-.. Black Stone Salt Cr Chappell! ~ Columbine Central Pipe Congolidated Roy Cow Gulch Domino Elkhorn Fargo zg. T. Gates Jupiter Kinney Coastal — Wiliams Marina Mike Henry Mountain & Gulf — New York Oil Picardy Preston — Red Bank Royalty & Producers Sunset Tom Bell Royalty Western Exploration Yestern Statos AEE NEW YORK CURB CLOSIN Mountain Producers Glenrock /Ol 2. Salt Creek Prds. Salt Creek Cons. New York Ob ..... Ohio O11 Prairie Oil -.. Mutual’ ..--... Mutual 8. O. 11.00 Chicago Prices CHICAGO, Sept. 26—4U. 8. De partment of Agriculture}—Hogs Receipts 15,000; strong to 10¢ higher; receipts very Ught; top, $10.40; bulk better 160 to 225 pound weight $10@ 10.30; grassy kind down $9.00; majority goed and choice pound butchers $9.90@10.10; able 140 to 150 pound averages packing sows, rough. throughout and down to $7.00; better ight slaughter pigs mostly light Neht $8.00@1 hogs smooth packing hogs re slaughter pigs $ Cattle—Reccipts no outlet for weighty fed steers or in-between grades fat cows and heifers; liberal. supply these offer: ings state Kind; shipping demand exceedingly narrow; local buyers indifferent; some demand for desir- able yearlings; no choice kind here; pest carly 102; tically no heavy steers sold; canners strong; some strong weight $3.00 and slightly above; bulls ten s lowed; vealers uneven; most stead; spots lower on mediun: to good trade offerings: packers taking cholce offerings up ward to $12.00; small killers up to $12.60; country demand. stockers and feeders fairly broad; fresh re- ceipts thin steers fully steady. Sheep—Receipts sales fat lambs fully ste moderate; bulk desirabl natives $13.00; culls mostly $9.5 choice vange lambs §13,00; sheep and feed- ng lambs steady; fat ewes $4,750 46.25; early sales cholce feeding vambs $13.0. to desi: stripped strong w 38.90 10.3: packing early ; sorting ‘STOCK TRADING Weak Spots Develop But Other Issues Are Forced Upward NEW YORK, Sept, 26.—Easy money rates and favorable tradé news were important contributing factors to the strength of today's stock market. ‘Thirty issues, many of them. southern and southwestern ils, attained new high prices. Sales approximated $25,000 shares, NEW YORK, prices . at or Sept. 26.—Steck firm undertone today’s market with buying orders well distributed over the general list. Pulman, In- ternational Telephone and American Chicle preferred each opened a ‘point higher, the last named and Public Service of New Jersey established W 1924 high prices. Most of the standard ladustrials and rails im: ed fractionally Railroad shares moved up briskly reflection of the record breaking loadings and the sharp. curtail. nt of expenses shown in the cust earnings biished. I to 59%, while Southern Peoria and and Chicago, Great Western prefer: red, sold at their highest prices of the year. General Baking, Nationa! ead and International Combustion ineering advanced 1 to 2 points, but National and Loose Wiles Bis: cuit fell back on profit taking. For: exchanges opened, stead sy money rates and th funds available for stock et and commercial purposes 1ued to faver operations on tre which were successfully nducted in a mumber of the rails, publi ities and specialties dur? the morning. An expanding In v mand Was suggested by the rise of one to four points In At lantte Coast Line, Lackawanna, Brooklyn Edison, National Lead Pullman, Associated Dry Goods and Union Tank Car. Stewart Warner moved up more than two points and ether motor accessories improved in sympathy. Texas Gulf — Su'phur, foundation “company and Worthing: ton 7 Iso were under accumu- rd Plate Glass dropped 2% to 19%, or within a small trae tion’ of the year's low, and American Express, General Electric, National Enameling and American Sumatra Tobaced sagged one to ‘two points. money renewed ‘at two per cent. The search for stocks which had not participated in the recent ride Pordught into view during the after- noon National railways of Mexico Cirst and second preferred and other equally obscure issues, Leathers, motor accessories and medium priced railroad shares were taken on an ascending scale. Republic Steel common and preferred, “Soo” pre- ferred, Cushman and United Rail. ways and Investment’ preferred yielded 2 to 3% points. The closing was strong. Active short covering in some of the yola- tile issues took place in the late trading, United States Cast Iron Pipe being marked up more than four points to above 142, Nash Mo- tors rising 5% and General Baking 814. Cosden, Mack Truck and Amer: ican Can were heavy. the co common, side u 1 tment ee Grain and Stock Omaha Quotations. OMAHA, Neb., Sept. 2 — (U. S. Department of Agriculture.)— Hogs Receipts 4,500; fairly active; Steady to 10¢ higher; mostly 100 higher; » ter grad 0 to 240 pound buteh- ers $9.65@9,75; top $9.90; desirable 160 to 190 pound weights $9.35@9. strong weight butchers $9.25@9.65 bulk packing rows $9.50@ + bulk vf all sales $8.60@9.75; average cost Thursday $8.99; welght 273. Cattle—Receipts 6,100; fed and yearlings slow, steady lower; bulk $9,25@10,50; gr and heifers slow, about ste: ners and cutters dull; veals s bolognas strong; stockers and f ers nomina'ly steady; bulk Tass cows and heifers $3 5 hers and cutters $2.25@3.20; bo- logna bu’ $3.25 @3. few beefy na- tives $3.85@4; veal tops $10. Sheop—Receipts 5,500; all classes generally steady; carly les fat western range lambs $12.65@12.80; top held higher; natives $12,25@12.60 handy weight fat owes $5,50@6; heavies at $4 feeding ewes $4.50 feeding lambs mostly .$11.50@ steers to 15¢ can- Denyer Prices. DENVER, Colo,,Sept. (U. Department of Agriculture.)}— Hogs —Receipts 50; head desirable medium weights $10; nothing else ‘on sale. Cattle—Receipts $00; calves dull; Mttle doing, f grass $4.50; few grass heifers $4.60 $5. ‘ound steady: Sheep—Receipts $5,700; run feeder lambs slow nd market around steady Nevada feeder lambs $11 i 26. Ss. 50: cows to bulk . of few two loads sales YORK, money dy; high Ing rate 2; closing bid 2%; last loan 2; call Ic tances 1%. Time loans # mixed collateral 60-90 days 2%. 4-6 months 3@3%. commercial paper 3%. Sept Prime NEW YORK, Sept. 26. Bar, silver 69%c; Mexican dcllars 53%c Opinions From Brokerage Wire Grain Opinions. STELN ALSTRIN—Sentiment in wheat appears too bullish, Corn oks heavy. HARRIS VINTHROP—Conditions surrounding Wheat are encouraging to bu BARLETT FRAZIER—Favor pur chases of all grains on recessions, THOMSON AND. McKINNON — Wheat has the foundation for a slow: ly advancing tendency. We think the tendency in coarse grains will be downward. LOWITZ—Wheat shows inherent trength. Sales of coarse grains on hard spots will likely prove profit ab‘e. JACKSON BROTHERS — The world’y situation justifies higher prices ‘for wheat. There is nothing to suggest a permanent upturn in corn, PRINCE AND 1*VHITELEY— A new advance in the leading coppers is looked for in the next week or two, as a higher market for copper metal is indicated. BLOCK MALONEY— We believe we are fn a rising market and that all sound’ stocks m: be rafely bought for higher prices in near fur ture. HORNBLOWER AND WEEKS— Continued advance in industrials and ra{is shows the result of import- ant accumulation. American Loco: motive is behind Baldwin and should be bought. Rails look particularly promising, LIVINGSTON AND COMPANY-— We expect still higher prices and would buy good stocks on slight re- actions. NCHON ldwin gi COMPANY — indication of being on the substantial upward move. In passing through 1 on volume we would not hes: ate to follow it up TOBEY AND KIRK-~The rket. promises to show trong features. J. 8 BACHE AND COMPANY — The old pools which were very active during June, July and early August are only just beginning to regain confidence, Gradually the entire market should again assume broad proportions. AND genéral further PAGE NINE Livestock :: All Markets AMPLE CAPITAL FOR BUSINESS ASSURED | GRAIN TAKE Corn Leads Upturn In Price Today on Chicago Exchange CHICAGO, Sept. 26.—Corn made @ spectacular advance of as much as eix cents a bushel in price today, with something of a stampede to buy by previous sellers. The biggest Jump in values was $1.10 for July delivery, in which however, dealings were comparatively scarce. CHICAGO, Sept. 26.—Sharply higher prices for corn resulted today from the government semi-monthly corn report indicating that the corn crop as a whole !s even more back: ward relatively than was the case a month ago, In some quarters, the report was construed to ‘mean that definite estimates of production would be lowered from any total heretofore suggested. Active gen: eral commission house buying of corn took placé eariy, and the mar: ket made #@ quick response. Opening prices, which ranged from %@le higher, with December $1.03@1.034, were followed by that on some transactions reached 3%c above yesterday's finy urther gains were achioved later, owing more or less to a forecast of unsettled and colder weather, The close was strong, 2% to 5% net higher, December $1.06% to $1,06%. Wet weather in the northwest save strength to wheat values. For- gners were buyers of future deliv: jen here, and offerings were rela- tively absorbed. After opening un: changed to half cent higher, Decem- ber $1.36@1.36% and May $1.41%@ 1.42, wheat scored a material up- turn all around, ish . Subsequent with cash wheat in Winnipeg commanding $1.00 a bushel, the market here showed no tendency toward a setback, and just before the finish the December de- Uvery rose to $1.3044, a new high price record fer the season, ‘The close wag tirm, 1% to 3% net high: er, December $1.88% ta $1.08% and May $1.44% to $1.44% Oats reflected the advance of corn and wheat, starting unchanged to half cent up, December $14 @51\e, and later continuing to ‘ascend, In line with hogs and grain, the provision market was firm, Open High Low Close Wheat— Sept Dee. May Corn— Sept. - Dee. May 4 1.35% 1.32% 1.94% 1,89% 1.36 © 1.389% Mild 141% 14a 32, - 36 fl -1 ~1 1 Sept Oct, Nov. Tbs— Sept. Oc! Nov. Bellic Sept. Oct. Nov. 13.50 ~13.50 13,70 13.70 11.90 11.90 11.05 - 13.50 13.35 18.35 13.40 CHICAGO, Sept. 26.—Wheat num- ber 2. hard 1.85% @$1,87%; Corn number 2 mixed $1,09% @$1.10%; number 2 yellow $1,094 @1.11. Oats number 2 white 50% @51%; ber 3 white 48@48%. Rye number 2, $1.10. Barley 78@0c. Timothy seed $4.75@$6.50. Clover * seed $15.00@§25.00. Lard $13.90. Ribs $15.00, Bellies $13.62, Market Gossip Abandoning Moneta Well. Test of Dutton anticline near Mo- neta, Wyo., is being abandoned by the Texas Production company as the result of finding the first Wall Creek sand dry. The sand extended in depth from 1,695 to 1,720- feet, The hole is now being plugged. Work on this teet has gone on for more than o year and numerous dif- ficultics have been encountered. Drilling a straight hole was found to be almost impossible, the necessi- ty of filling back and double drilling arising frequently. OU Summary, Tonkawa pool produced 111,950 barrels a day last week against 107,- 150 week before. Cromwell pool produced barrels a day against 46,950 week before. Receipts of crude oil from California aggregated 665,000 barrels against 682,000 barrels week before and imports of foreign crude oll amounted to 1,784,000 barrels against 1,171,000 previous week. Texas corifpany announces that it will purchase at present posted prices aj! oll which it holds in stor: age for producers in North and Cen: tral Texas and will absorb storage charges where offer is accepted by October. 10, Since early summer Texas company had been purchasing 50 per cent of production along pipe lines and storing remaining 60 per cent but on August 8, this .prorat ing offer was lifted’and since that day company hag been paying for 100 per cent production. 42,550 Changes in Kasoming. CHEYENNE, Wyo., Bept. 26, — Announcement was mate here to day of the resignation of J. L. Ha vioe from the positions of secretary- treasurer and director of the Kn dy Investors Find Increasing Means and Advice; Benefits From Bankers’ Capital Is Moving Into New Channels. By J. C, ROYLE. Copyright, 1924, Casper Tribune. CLEVELAND, 0©.. Sept. 26-—- There is going to be ample capital available in the next year to meet the requirements of commerce, trade and industry of the United States, according to Thomas N, Dysart, of St, Louls, who will be the next presi: dent of the Investment Bankers’ as- sociation of America, now in session here. Two things, Mr. Dysart said today, are going to bring this need: ed capital {nto channels of distribu: tion—confidence and advertising. “The investors of the country, both small and great, are getting to know their bankers better and use them more.” Mr. Dyeart said. “They have found that reliable in vestment bankers can give them the sar xpert advice in making their dollars work efficiently and safely for them that a consulting mechan: ical, industrial, electrical or mining engineer gives his clienta, “They know that no reputable banker willingly sees his patrons put thelr funds into uncertain invest- ments. If they lose money, he loses a client and without clients, he soon would cease to be an invest: ment banker, Members of the In: vestment Bankers’ association hold firm to the policy not only that those with {dle dollars should invest them but that they should Investl- gate both the securities they buy secretary-treasurer of the Bair Qi! company. ©. B, Garretson suecee Bavice as secretary-treasurer of the Kasoming company and H, ©, Har gen succeeds to the postition of as aistant secretary-treasurer of the Bair company. The changes make Garretson” secretary-treasurer and Hagen assistant secretary-treasurer of both companies. H. O, Fitzpatrick succeeds Havice as a director of the two companies, The reason” any nounced for Havice’s retirement ia i} health. To Test Lakota. A test of the Lakota sand in Salt Creek. will be made by well No, § Knepper of the Texas Production company-on SH% Bec. 19-39,78, Pres: ent depth of the hole is 3265 feet. Expectations are that the Lakota will be picked up around 3,850 feet, Financial Summary Western Maryland August 8) plus after taxes and charges $4,590 against $145,229 in August 1023. Wilson and company will pay Qc- tober 1, interest on its $22,956,000 first sinking fund gold ser! ". Arbuckle Brother advanges refiny sugar 15 points to 7.40 cents, New York Central, including Ohio Central, August net operating in- come $5,548,777 against $7,262,000 in August 1923, Bankers purchase $15,750,000 Pen- nsyvania railroad general equipment first 4% per cent certificates. Grosvenor Dale operating cotton mills employing 1,100 persons, an- nounced wage reduction, American Thread company in- creased operating schedule from four to five days week basis, Fraudulent bonds purporting to havo been issued by Steel and Tube gompany of North America, have been sold to- brokers. Syndicate headed by J. P. Morgan and company {s offering $15,000,000 Florida Bast Coast railway company first and refunding morgage 5 per cent gold bonds at-96 and accrued interest to yield 5.22 per cent. German bonds slump sharply in London on antiouncement by Ger- man government that revealation ts not in aight, Pipeline Hearing Is Set. DENVER, Colo,, Sept. 2 The ap- plication of the Prairie Ol! and Gas company for a permit to bluld a pipe line from Craig, Colorado, to Parco, Wyoming, wil be heard by the state public utilities commission on Oc- tober 22, Hearing on the application was set for today and no pfotest had been filed until this morning, when F, E. Gregg appeared beofore the commission and made verbal pro- test against the granting of the per- mit and asked until Oct. 22 to make written protest. Attorneys for the Parirle company made no objection to the continu- ance.» The Colorado commission Will not have authority to grant per mission to construct the pipe line further than the state line. Working Full Time. The small refining plant of the Wyoming Gas and Ol! company at Upton, Wyo., In Weston county {s now operating full time, Disposal of the entire gasoline output of the re- finery is made in Upton and immedi- ate vicinity. The company owns pro- duction in the Osage field and buys enough on contract to fill its needs. The plant operates one st{ll but has two other s0-barrel still¢ on the ground ready to be installed as soon as local gasoline demand warrants. Osage Well Expected. Zitterell well No. 1 on Sec. 18-46 Osage field in Weston county, | pected to strike production within the next several days. The Zitterel! interests control 820 acres of leasos in the district. Oil Field Revived A company made up of Spokane capital is now. drilling a we: in the old Butte field, 14 miles north of Moorcroft, Wyo. The field ha d eral wells producing from the Mud- rand. The oll {* eald to have soming Of] company ond assistapta high degree of lubricant content. and the house through which they buy them. “This has developed a confidence on the part of those whose money will serve in the future to keep the wheels of American industry at o faster pace. Confidence will un- doubtedly be strengthened by the campaign of advertising and educa- tion which the association and its members have in view." An {dea of what widespread ef- fect this campaign is to have on American business can be gathered from the fact that the investment houses belonging to the association have sold a total of more than §90,- 000,000,000 of investment securities, “he money which has put new life blood {n the velna of industry, In the first eight months of 1924, the new financing in the form of bends and investment stocks placed has totaled more than $3,644,000,000, Of this sum, over $1,250,000,000 was in municipal securities. Public utility stocks and bonds accounted for over $1,000,000,000, There is every rea- son to believe that the new capital. which will go into the business of the United Stutes by next Janyary 1 will exceed $6,000,000,000. The mon responsible for the in- vestment of the larger part of this great sum of the public's money are placing increasing streas on the ne- gessities that investment securities shall be secured so far as the Inves- tor ig concerned. Taking Pedro OW. Ot! from the shallow Pedro field in Weston county is now being taken by the United States Ol and Re- fining company plant which was bullt to refine eryde from the Osage field, The pant uses merely a skims ming process, extracting only a amall proportion of gasoline and leaving fue} oil as a residue. Sell Osage Interests John P, James and associates, of Denver, now. control the Osage lqases and properties of the Western Ol Inc., a Denver company. Lying dormant for more than a year, pro- duction has been stirred up so that now about 40 barrels q day is the output of the lease in the Osage field. --——— ‘The Goso test well near Upton is now drilling below 3,400 feet. Oper- ators are confident of striking pro- duction. _ Onace Field Notes Early in the week the Shaw well near the United States Experiment farm south of Osage, waa spuded in. Fair production has been struck In the Knapp well on section 1 near Clay Spur, A derrick is rigged up and ready to spud in on Sec, 31-47-63, leage be- longing to Harry Briggs who expects to put down several other holes this fall, Equipment has been moved from the West Ray lease by A. C. Grand: bouche to his land in Seo, 16-46-63 where he wil etart, drilling ,opera- tions immediately, Depth of 100 feet has been raeched by the Wilker lease well on a prop- erty formerly owned*by the West Ray Oil company. Sankey and Stahle are now down 400 feet with their No. 4 well. This and several other wells are on tho Quinn lage in Sec. 20-46-63, Se METALS NEW YORK, dull; Sept. 26.—-Copper electrolytic spot and futures 13, Tin easy; spot and futures 47.25. Iron steady and unchanged. Lead steady; spot $8.00. Zinc wteady Wast St. Louis spot and futures $6.17%4. Antimony spot $1 SUGAR NEW YORK, Sept. 26. Refined sugar was firm and unchanged to five pointe higher, ist quotations ranging from $7.10 to. $7.60 for fine granulated. fined futures were nomina!, Sugar futures closed steady; proximate sales 16,000 tons. cember 4,08; January 3.64; May 3 July 8.62 ap- De- March Foreign Exchange NEW YORK, Sept. 26.—¥oreign exchanges steady, Greet Britain demand 446%; cables 447%; 60 day bills en banks 44444, Wrance de- mand 626%; cables 627, Italy de- mand 4,38%; cables 4.30%, Belgium demand 485%; cables 4,86 Ger- many demand per trillion 28%; Hol- lgnd 98.58; Norway 14.02; Sweden 26.60; Denmark 17.24; Switeerland 19.04; Spain 13.49; Greece 1.75; Po- land 19%} Czecho Slovakian 3.99%; Jugo Blavia 1.40; Austria .00014|; Rumania .$2; Argentina 85.75; Bra- ail 10.60; Tokio 40%; Montreal 100. NEW YORK spot stewly: 26,-Cotton Eskimo parents never punish thelr children. Aina Be NSS Tribune wantads bring results. 4 t