Casper Daily Tribune Newspaper, October 19, 1924, Page 23

“AT HIGHER LEVELS| uying Which Followed . Reaction of Early mak a Carried Through Short Session; Oil Shares Marked Up in Week. NEW YORK, Oct. 18.—With sales approximating a half million shares, stocks closed strong in today’s short wf session of the exchange here after being largely under the contro! of speculators for the-advance. Active covering by short interests in issues of which theré ts not a large float- ing supply also lent strength to trad- _ ing after a brisk openin: Several Advancedtwo points: jullish activity was pronounc- ed also in the public utilit! motor, food,. pipe and tobacco issues. Outstanding in financial and mar- ket developments of the week was the successful flotation of the new loan to Germany both here, and broad, oversubscription’ of Amert- ca’s and Great Britain's share in the ‘negotiations tending to create an , optinifsm that was Increased by oth+ er bullish factors, A premium was ‘paid above offering prices after the books were closed. Irregular recotery from Tuesday's harp reattion-featured the closing days of-the week in the stock; mar: ket, culminating in today’s strong .}demand. Professional bear traders who took advantage of uneasiness existing over the political situation were held in large part responsible for the slump early in the week but confidence returned to. bring another reaction. Oil shares came into strong de- mand with announcement. of the Pratrig Pipeline company that pro- rating in the Oklahoma fields was at an end and that all crude offered be bought. Other bulliah ‘fac. tl In’ ofl Were declines in “pipelin: runs for the second time’ in’ two weeks and a falling off in stocks at refineries. Declarntion of the Sinclair preferred dividend aided the movement along with annotunce- ment,o {the Texas company that div- idends for the {ull ct ca had been earned. Independent. steel shares suffered from the publication by the Repub- Mc Steel company of a relatively Poon quarterly statement. Copper ghares also fell off (3 ' reports of lower earnings. Railroad’ shares responded to re- ports of increased car loadings and reports of progress in consolidation plans. “Quack” Geologists and Best Way to Avoid Them ' Told by Casper Expert _ A geologist who Is really’a geol- ,.ogist and who is responsible and ‘has the proper qualifications, is in ‘nearly every instance a member of «the American Association of Petrol- eum Geoligists, declares E. L. Esta- ‘brook, petroleum production engi- eer of the Midwest Refining com- pany. : There are men: themselves as ployment with e) 'The wbest way. to-avold employing | Any ich quack geologists, according to r. Estabrook, is to engage a prac- icing member of the American asso- tion. Recently this group of ockhounds” issued a code of ethics indicates well the standing of its. m . The code, quin ich was obtained from. ‘Mr. Esta-| boK fol'ows: z General Principles. _ The practice of petroleum geology a profession, it is the duty of those engaged in it to be guided by the highest standards of profession: al conduct and to subordinate re- ward and financial gain thereto. The confidence of the public and of the oll industry can be won and cotcethical principio’ oot est ethical principles. member of, this association. Relation to: Public. A geoldgist should avoid and dis- courage sensdtiona!, exaggerated and unwarranted statements, espe- clally those that might induce toasted ticipation in unsound enterprises. A geologist should not knowingly: permit the publication of his report. of maps for the purpose of raising funds without legitimate and sound development in view. A geologist may accept for his services in the making of a report an interest in the property repdrted on, but it is desirable that the re- Port state the fact of the existence of the interest. A geologist should .not’ give an opinion or make a report without being as fully informed as might reasonably be- expected, considering the purpose for which the informa- tion is desired. The opinion or re- port should make clear the condi: tions under which it is made. A geologist may publish simple and dignified business, professional, or announcement cards, but should not solicit business by other adver- tsements, or through agents, or by furnishing or inspiring exaggerated newspaper or magazine’ comment. The most worthy, advertisement is well-merited reputation for pro- essional ability and fidelity. This Pannot be forced, but must be the butcome of chagacter and conduct. Relation to Employer. A geologist should protect to the est extent possible: the interests # his employer so far as consistent ith the public welfare and his pro- onal obligations. A geologist who finds that his ob- Ugations to his employer: conflict with his professional cbligations should notify his employer of that fact. If the objectionable condition persists the geologist should sever his connection’ with the employer. A geologist should not allow him- Belt tobecome or remain tems ak jogist not sirecly or indirectly acquire any present or prospective ofl or gas interest without the express consent of his employer. A geologist retained by one client should, before accepting engage- ment by others, notify them of this affiliation, if in his opinion the in- terests might conflict. A geologist who has ‘made an 1 -vestigation for a client’ should no} without the clignt’s consent, seek to profit from the economic information thus gained, or report on the same subject’ for another cliefit until the original client has had full oppor- tunity to Act on the report. A geologist should not accept di-- rect or indirect compensation from both. buyer and seller without the consent of both-parties;-or from par- dealing with his employer with- it the employer's consent. - _A geologist. should aegis scrup- of or giving 4 acquisition of interests, both while mployed and thereafter, and except | @s permitted by such rules, customs and traditions, or by consent of the employer, he should not seek to profit..directly or indirectly fram the ‘economic, information gained while so. employed. A. geologist employed by a state gedlogical survey should not permit private professional work» or ,the holding -of private. mineral interests in the state :to‘interfer with his duty to the, public _or to lessen the confi- dence of-the public in the survey. The “preferable course is to, avoid such private Work and interests. A geologist. should not divulge in- formation-given -him in confidence. Relation to Profession. __A geologist should not falsely or maliciously attempt to injure the rep- utation or business of a fellow geol- ogist. ‘A geologist should not knowingly competewith a fellow geologist for employment by reducing his custom- ary charges. A geologist should give credit for work done to those, including his assistants, to whom credit is due. Duty of, By Wilson, Cramner and Company. ria Chemical & Dye -.---. 71% American 130% American ‘American moth Smelting & Refx. - Sugar T. and T. ------.- Atl, Gulf and. .W. Indies -.... Baldwin Locomotive -.-----. Baltimore. and Ohio ----.-..- (Bethlehem Steel -----..-.--- California Petroleum Canadian Pacific -----.---.-. General Leather -----.-.. Cerro de he hgtead Chandler Mo! w---2--; Rory and Ohio --2-> - Chicago and Northwestern .- % | Buropean buyers into the American |- Guit States ae ate Inspiration Copper .. International Harveste: Int. Mer. Marine pfd. ---. International Paper ---...--- Kelly Springfield Tire ..---.. Maxwe'l Motors - New York Central . ¥., N. H. and Hartford. Pacific : >: Pan American Petroleum BL Producers and Refiners -. Pure Oll --------------- Republic Iron and Steel - Seurs Roebuck -. Sinclair Con Oil Bouthern Pacific ~---0------5- 98 Southern Raflway wonnn= 65 Standard Oil of N. J. --------. Studebaker Corporation ~~... TOES! CO, coeww ee ee neroeenn en, Transcontinental Oil Union Pacific -.-..-. U. 8. Ind. Alcohol 39% 41 4 Elkhorn -.------------ FYORts —s-caeennece 6.30 E,-T. Williams -. Fargo 04 . 108 chwwencotoasvonesa 08 "05 10, (ot Royalty & Producers -. Sunset | ed Tob Béll Royalty -..- Exploration NEW YORK CURB CLOSING | Bid> 20.00 20, 15" 138 Mountain, Produders . Glenrock Of] ------.-. ~-= 209.00 210,00, + 11.00 1125 56,25 56.69 Every member -of- the Sraociation i to membership) of those who lack moral character or the sere edu: cation and experience. A member of this association who has definite evidence of the violation of the established principles of /pro- fessional ‘ethics by another member to the exec- sO nly Small Per Cent of Wool Still Being Held hth not more than a few 0 odds nds. of the 1924 wool clip still in the hands of the grow- is estimated that 75 per cent Wyoming wool this year has disposed of at prices ranging to 41 cents a pound. general, growers have felt ery well paid for their ‘wool went at high prices with a slump in the middle of the summer. There was evidence of the custom- ary holding on rising prices and dumping on declining prices. That the clean wool tariff has served well to.bolster up wool prices, is widely appreciated by flock- masters. They declare themselves, Pilot Butte emp nenen se = F014 Lander Autom: DETROIT.—The Packard . Motor Car company this week distributed approximately $350,000 to employes as bonyses in recognition of service over the last five years. More than one third of all the employes partt- cipated, present administration continue in power. The combined woo] clip of small gtowers in the Lovell district has brought 40 its 2 pound and theré is an capression of of satisfaction in that district. ¢ Ten thousand: head of sheep are be Casper @unvap Cribune : Grain : ‘AND a ell BY¥ LEASED | NEW TOP-RECORD IS TOUCHED BY WHEAT Week Just Ended Marked by Sharp Upturn on Reports of Argentine Damage and Heavy Foreign CHICAGO,. Oct, 18.—Although ‘a falling off in demand near the clore of today’s brief trading session caused a decline in wheat prices and & fractional loss was suffered, wheat Prices closed the week higher today after setting new top’ records for the season. December wheat closed today at $1.60 and May at $1.53, while December corn moved up to $1.09% and May to $1:11%- Wheat derived its chief strength carrying it to new top* price rec- ords of the season from heavy buy- ing for foreign accounts and anx- fety over crop conditions in Argen- Teasonabje cold were reported. The Argentine crop, it was estimated, would be 25 per cent smaller than lagt year, a situation which brought market in increasing numbers. Foreign buying also brought con- firmation, {t was accepted, of en- larged bread requirements for breadstuffs in Italy and France, of which disquieting rumors have been heard for some time. Selljrig “based on opinions that fa- vorable, weather during the last six weeks had aided greatly in matur- ing the corn crop brought a sharp uying. fownturn in this trading, An {n- crease in the official estimate of the corn yield in the United States is expected in the next crop report. 4 Provisions moved up on reports of a decrease in stocks of lard. Today's range of process in the grain and provision markets fol- lows: Open High Low Close L49y 1.52% 1.34% 1.50% 1.81% 1.54 1.54% 1.35% 1.35% 1.50 1.53 1.34% 1.09% LU 1.11% % M % 53% 57% Bory iu 1, lL 01 10 10 54% 58tg 55% 53% 58 55% 1.35% 1.84% 1.35 1.34% 1.338% 1.34% 15.72 15.52 14,50 14.32 15,70 Petroleum and Products Second in U.S. Exports a WABHINGTON, Oct. 18,—Petro, Jeum and petroleum products make the second largest group in Amer: ica's sxport.trade, coming after the textiles, which. for statistical pur- poues “include Taw cotton. This’ is brought out in a bulletin on the eee ‘world rane Just, published iy” th reign mmeérce deépart- "rath “chamber ‘of ‘commerce ot the United” Btates. for the first half ofthis year,’” says te bulletin, “shipments” P broad of he leading, products totaling 8,398, $0: tons ‘of 2,000 pou ee ‘an ine a value of over $229. 000,000, as com) Er pared. with’ 6,825,000 tons, valued. at} $192,000,000° for the same° half of 1923. The largest buyers included] Great Britain, France, “Canada, China,’ ‘India, Italy, Belgium, Ger- many," Japan, “Panama,” Chile’ and Mexico. “The principal petroleum export gasoline, napthas, and other light prodiicts, which was our third lead- tiinyvalue, being 4.3 ‘per cent of’ the total exports. During the first:six"months of 1924 our ex- Ports ‘amounted to 1,892,000 tons, valued at $87,843,000, against 1,296,- 000 tons, value $74,856,000 for the corresponding half of 1923, anin- create of 46 per cent in quantity and 17 per cent in value. The lead- Be cate ee Een) erebes ‘| and Canada. : MORTGAGE ARE TOLD: “Exports. of ‘lubricating oil, our eighth export, amounted to 789,600 tons, valued at $48,518,000, for the first-six months of this year, a 10 per cent gain in volume and a 17 per cent increase in value over the exports of the first half of 1923— 716,200 tons, with ‘a value of .$41,- 314,000. European, countries were the chief purchase; ' “We exported during the first half Of 1924, ..1,48%,000,, tons..pts.kerosent | yalued, at $44,049,000. as com; with 1,370,000 tons, value $40,086 000, during January-June, 1923—a 9.per. cent gain in yolume and a 10 ber cent increase in value. China, and and India were our best omers. "Gas and fuel’oll exports, shipped largely to England, Panama, Canada, Chile, Mexico'and Japan, increased 24 yer cert in’ volume and 36 per cent in value, the exports for. the January-June, 1924, period totaling 2,700,000 tons. at $22,999,000, ag com- pared with 2,184,000 tons, at $17,- 094,000 the yéar before. We -also- exported. this year 1,599,000 tons of crude petroleum, with a value of $14,383,000. A 21 bet cent increase in quantity and a 29 per cent gain in value over the exports of January-June, 1923, which totaled 1,157,000 tons, valued at anes 000. Crude petroleum ex- were shipped chiefly to Cuba and Mexico. ta VALUES BY BABSON Noted Statistician Discusses Ethical Factor in Mortgages With Opportunity for Real Service BABSON PARK, Mass,, Oct, 18.— Roger W. Babson today pointed out @n opportunity for investors -that is-|. not only safe and br faibea but Bian a@ distinct 1 Séryicé “as Bank acounts are the safest of | all investments. Most bonds are good and many stocks are fair’ in- vestments,” says Mr. Babson. ‘‘Peo- ple should remember, however, that there are other forms of investment that are also good and in some cases preferable. The local real. estate mortgage should not be forgotten. This is especially true in these days when, ‘the field furthest away looks the greenest’ to most people. The) real estate mortgage under certain circumstances also has additional ad- vantages in the matter of return, margin of safety, and theeffect of the investment on local business condition: “Just now when call loans are being made in New York at from 2 to, 3_per cent and commercial paper {s selling in all our large cities at around 3% per cent, good mortgages are still yielding 6 per cent or bet- ter, I say ‘or better’ because in ce: tain sections of the south and west absolutely fe mortgages can be se- cured to yield 7 per centsand even 8 per cent. The Ferm Loan and Joint Stock banks have changed the farm’ mortgage” situation‘ somewhat bit good loans at 6 per cent are-stil! available on small houses in the cities and in the country. These houses when occupled by the owner are usually first class security. “In loaning money on mortgages a very important factor enters Into the transaction which is often over- looked. For the want of a better name we call it the ‘ethical’ factor. The value of any mortgage depends not only upon the real property be- hind {t but also to a large extent pon the character of the borrower. by Investors & better, security for your. money that that offered by a young man of Christian character who is borrow- ing to build his own home provided that sucha loan is protected by a life insurance policy on the borrow- e “A private investor has a distinct advantage over the bank in. this matter.. The bank must loan more or less” mechanically—say 60 per cent of the valuation—irrespective of the character of the borrower. Sometimes a, bank will loan too much to @ man who lacks integrity and as often the bank loses a chance of loaning to an honest individual because of this arbitrary 60 per cent limit. "The banks often fool them- selves by thinking that ‘a house is a house’ whoever the owner. They forgot it is not the number of peo- Die in a city which makes value but the character of the people in that eity which makes value. An unde. sirable citizen moving into @ locality actually lowers the value of the aq- Jacent real estate. Generally a man of good character coming into a neighborhood tends to increase that value. When the combination of a de- sirable property and borrower ot g00d character Is found a good in- vestment opportunity existe. Under such circumstances I recommend @ loan of money for the building of & home or for a store that Js to be used’ by the borrower. I never ad- vise loaning a young man, an old man, or any other kind of a man money with which to speculate, or maney to invest in a business which he does not control. “In buying local mortgages," con- cluded Mr, Babson, “you also per- form an additional service to your community. The money stays in your dwn city instead of going to New York or some other financial nt ed. Moveover, every new house that is Built in your community by a man of. character adds value to every other house, In helping such a man you are helping yourself and all the rest of your neighbors. I know of no other way of improving business for the long swing than by encour- ing and helping the young men of vision and character to get started, Although the business of the coun- try as shown on the Babsonchart is now 6& per cent below normal, this does not apply to every city. Som localities are maintaining high stan- dards in their commercial commun- ity. “T believe that as a matter of good business and of public service every investor should invest a part of his money at home where it will en- courage the right tyne of citizens in his community,.” Grain and Stock Opinions From | Brokerage Wire Grain Opinins, Uhiman Grain Co.—The European demand for our wheat will continue until Canadian grain comes on the market. Thomson McKinnon—An upward trend is probable. Harris Winthrop—As long as Eu- rope continues to buy on easy spots there is no reason to expect sharp price depression: Stein Alstrin—Wheat and rye al pear to be in a very strong position. Liquidation in coarse grains has been pretty thorough. Hulburd Warren—Favor buying wheat on weak spots. Corn is the highest grain on the market. Stock Opinions. Prince and Whitely—American Smelting appears to be due for an important advance before very lon: Biock Maloney—We think the ral- Mes will not go far. Before we see another favorable movement started it Is altogether likely we will see new lows. Hornblower and Weeks—The im- Portant thing to conelder when a de- cline such as was witnessed on Tues- day halts the intervening period of the time where in the market se- cures its efforts before further sell- ing takes place, serves the purpose of rebuilding the cqnfidence of trad. ers who are long of stocks as well as to lessen the number who have taken a short position. Pynchon and Co.—We advocate only a minor trading until the ho- rizon clears. Livingston and Co,—The market is not by any means-safe yet and are not willing to advise the pur- chase of stocks at the present time except for trading turns. Miller and Co.—Although the mar- ket is strongly entrenched, the pres- ent trading opportunities are in “catching its song’ and being satis- fied with moderate profits. ——————__ Tower Talk H. T. Morian, superintendent for the Utah Oil Refining company at Salt Creek, is now in Bradford, Pa., his old home, where he will visit with Mr. and Mrs. Stanley C. Mo- rian for a month, Mark O. Denford, Midwest Refin- ing company tax commissioner, is to address the Cody club Monday evening in opposition to the pro- Posed severence tax OREN eyenal amendment. Here and theré along highways in Wyoming are to be seen lone der- ricks which have withstood wind and weather for years, Once they were in the Hmelight of high hope, but now they are merely dbandoned markers of holes drilled and much money spent. They are a part of Rionéering and exploration history. Harry, Ward, assistant to the gen- eral field superintendent of the Utah Oll Refining company and in charge of the Wyoming office, left last night for Rawlins where he will gather up equipment in Lost Soldier to be shipped to the company's promising field at Cisco, Utah, Very soon the Wyoming Petroleum club will enter its second year of meetings. With a fairly large mem- bership whose chief business con- cern is off and which delights in gathering to talk over business do- ings, especially in an informal way, the club's great need is a perma- nent headquarters, where oll men may meet at all hours of the day. Ray Phebus is one of the many oil men of the o!d boom days, who still lives in Thermopolis and con- tinugs active in the game. Leslic Welch, another one of the Thermop- olis boys who rolled in the hundreds of thousands back fn 1917, is out in Los Angeles in the real estate busi- ness, When Thermopolis lost the Black Mountain field office of the Utah Ol! Refining company, it sat up and took notice. The company made a franster to Worland. All this hap- pened because the road from Ther. mop to Black Mountain was such a dreadful one. Now the Hot Springs town is after the county commis- sioners to spend a little money In helping oil companies to keep the highways to nearby fields in good condition. pe SS ee Dairy Products. CHICAGO.—Butter production {Is declining with the set-back estimat- ed at 6.9 per cent compared to two weeks ago. The decline left re- ceipts still 19 per cent above the same week in, 1923. Storage hold- ings of butter have decreased two and one quarter million pounds dur. Rialto. Sunday, Monday, Tuesday—Gloria Swanson in “Manhandled.” Kino. ps Fables, Thursday, ye Mermaid Friday— anging Hus- Comedy, “Air America. Today Only—Babby Peggy will appear four times daily in connec- tion with the showing of her latest ‘Captain January,” also jeeing Nellie Home” and News. Monday Afternoon Only—Baby Peggy's latest picture “Capmin Jan- uary” will be shown, but Baby Peg- gy will not appear in person. Monday Night—Gay MacLaren Operatic concert, under auspices of Woman's Departmental Club of Cas- per. Tuesday, Wednesday, Thursday— “Being Respectable” a true to lite drama with Marie Prevost, Monte Blue, Louise Fazenda, and Irene Rich, There will also be a comedy “Why Men Work,” and Pathe News and Toples of the Day. Four Days Starting Friday—Rin. Tin-Tin, the famous police dog in “Find Your Man’ also Our Gang Comedy "It's A Bear” and Fox News. Tris. Sunday Only—Buck Jones in “Western Luck” also Jimmy Aubrey Comedy “A Perfect Pest.” | Commodity PAGE SEVE Monday and © Tuesday with Monte Blue, Evely d fine supporting cast, als ‘Oh Captain.” ay and Thursday—"Th Last White Man" with Matty Matt son. A story of Soldiers, Indian Travelers, Miners, Trappers and th West. Also Stan Laurel Comed: “Detained.” Friday and Saturday—“Man’ Law and God's" a story of th Northwest Mounted Police with Jac! Livingsfon and Ethel Shannon, als4 Constance Talmadge in “Sauce fo the Goose.” Columbia. e Sunday — Vogel and Miller’ Happy Go Lucky company present: “What's Your Husband Doing?’ Feature picture—"Strangers of thi Night.” Monday, —Musicat Salesman.” French Dol Twenty-cent Thursday, New ture, Tuesday omedy and Wednesda ‘The Travelin, picture, “The Mae Murray. matinee Wednesday. Friday and Saturday. musical comedy. Feature pic “Desire” with all-star cast. Wyoming Theater. Monday, Tuesday—Jacld Hoxie in his latest production Phantom Horseman. Alse reel comedy and News. Harry Car. Harry Carey's Today, two. in “Roarin’ Rails’ greatest picture. Trade News (Copyright, 1924, Casper Tribune) Lumber PORTLAND, Ore.—The Long Bell Lumber company, at Longview, Wash., has put on a night shift at the mamoth west fir mill, the larg. st fir lumber plant in the world. Five hundred additional men have gone to work. SEATTLE.—The North Pacific coast saw mills are speeding up pro- duction in spite of the softness of the market. Production according to the West Coast Lumbermen's as- sociation, is above sales but this is a temporary condition, due to hesl- tation on the part of tine yards and distributors in the middle west to place firm orders prior to election, Clothing. PHILADELPHIA.—Demand for clothing is better by far than it was in the fall of 1923 and output of local factories is high, with manufactur- ers reporting a decided preference on the part of retailers for the bet- ter grades, CLEVELAND, 0. Janufacturers of men's and boys’ clothing* report orders better than fair, while makers of knitted goods are ryshing produe- tion at top speed. Sugar. DENVER.—The Great Western Sugar company this week mailed checks for approximately $3,500,000 to beet growers in Nebras! Color- ado and Montana in final payment for the 1923 crop and the remainder of the initial payment for 1924 beet: The total disbursement of this com- pany for beeta in 1923 was $20,278, 180. Furniture. ST. LOUIS.—Thero is an extreme- ly brisk movement in office furni ture and equipment in St. Louts trade territory and this is interpret- ed as an extremely healthy sign of general conditions. Grain, DULUTH.—Grain dealers and commission men here have sent more than $75,000,000 to northwest- ern farmers in payment of thelr pro- ducts since the grain movement be- gan on September 1. Grain still is arriving at the rate of 1.400 cars a day, all the clevators here can han- die, Dry Goods, KANSAS CITY.—The spring open- ings this week of wash goods lines incl@ded the largest variety of pat- peed ee sages 2d sale dalede Tt cam Standard Oil Steeks Anglo Am, Oil -... Borne Buckeye Chesebrought Mfg. Chesebrough, pfd. Continental Crescent ‘umberland - vureka |. Gal. Sig. Com. - Gal. Sig. Old pfd. ~ Gal. Sig. Old Pfd. Gal, Sig. new pfd. Iilinola Pipe Indiana Pipe National Transit ~ New York Transit . Northern Pipe Ohio ON ... International Pete Penn. Mex. --- Prairie Oil Prairie Pipe - Solar Refg. - So. Pipe . So. Penn Oll - W. Penn Oll - oO. Ind. . O. Kan, . O. Ken } ON. ®. « . O. Ohig - |. O, Ohio pia. Swan and Finch Vacuum terns and number of cloth The showings included a large variety of silk and cotton mixtures, silk and! cotton crepes and imported and domestic broadcloths, Steel. PITTSBURGH. usiness is faire| ly brisk In most finished steel lnes, particularly in merchant pipe sheets, wire products and bars. O{1 cém- pany goods are in slack demand, be- ing affected by the seasonal slack ness and conditions in the oil indus- try. Potatoes. SAN. FRANCISCO.—The Call. fornia potato crop this year will fall almost two million bushels’ below that of last year, the latest estimates placing the total ‘at 6,790,600 bushels 8 compared with 7,800,000 bush: a year Ago. Market Gossip General Business Summary. Dun’s reports 346 failures last week against 349 in preceeding week and 366 in corresponding week last year. Duns notes new signs of expan- sion in botl foreign and domestic commerce, Main trend of busine: is toward revival and fall season has brought definite improvement in conditions. Bradstreets reports distributi trade is somewhat quieter but man¢ ufacturing has held recent gain Orders for railroad equipment for third week of October estimated at 22 locomotives, 1900 fretght cars, 75 passeng¢r cars and three gasoline rail motor cars, according to Raile way, Age. Marshall Fields weekly review says current wholesale distribution of dry goods exceeded last week's volume and also same week year ago; collections were not equal to same period last year. Oil Summary. Although six new wells were con pleted in the Burbank field, Okla- homa, last week, production there fel! about 2,000 barre's daily to a toe tal of 73,000 barrels. Petroleum imports into the United Kingdom week of October 13, were 13,250,000 imperial gallons against 25,000,000 in preceeding week. Northwestern Pennsylvania refin- ers reduced gasoline half cent gal- lon. Wall Street J. Is offered for crude tricts. Crude premium n some dis- oil production last we ele was being shut sted storage, f October 4, and 109,000 bar, tember in on account on co Production for week was 135,000 barrels rels in wee Another Sheldon Well. A third test of Sheldon Dome not from Riverton in Fremont eoun- y is to be made by the Preston Ol company. Twice before wells were put down on Sheldon by the Marine Oll compa: and the Superior syn- dicate, but the results were not prom- ising. Location for the new well Is ut 3,000 fe east of well No. 1. Adan: nd rds of Are the test, Bank Expe tate Re-openir Bank of Greybull whic na closed for some time, will soon pened. Preparations toward that end are now being made. be Second Cisco Test. Through the great gasser of the Utah Of] Refining company at Cisco is still burning, the company-{s go- ing ahead with plans for a second well. Saturday the Lake City