Casper Daily Tribune Newspaper, November 12, 1924, Page 7

ie tae) “ty *2 - a a a DNESDAY, NOVEMBER 12. 1924. Oil :: Finance :: Bonds :: Stocks N o Immediate Prospect Of Increase in Price Of Bread, Bakers Say By J. C. ROYLE. (Copyright, 1924, Casper Tribune.) NEW RK, Nov. 12.—Is the | price of bread going up? That ts a question which affecta practically every American citizen, cially pertinent at present when a ,3500,000,000 merger of great baking ‘companies is In process of formation and when the rise in the price of wheat in the markets of America and the world-has been reflected in the advance of approximately $2 a barrel in the cost of flour. ‘William B. Ward, president of | the Ward Baking company, which maintains 18 plants in 13 cities with an,output of more than a million lonves a day, doubts that the ad- vance in wheat will be passed on to the bread consumer, Mr. Ward, whose family has been identified with the industry for more than 75 years, takes the responsibilities of the baking business to the public thoroyghly to heart and regards it, to mome extent, in the light of a public utility. He outlined to the writer today the factors which enter into the of bread, on which he {s, per: the greatest authority in "he | country today, “The rise in wheat,” he said, “has been reflected in the rise in the cost portionately to the rise in the Ses | of flour, but the public will be glad to know that the representative bakers of the country, who feel their public responsibility, will not pass on this increased cost until they are absolutely forced to by future cir- cumstances, “The increase in the price of flour does not play so important a part ‘in the price of bread as It did some years ago, The first reason is mod- ern efficiency and quantity produc: tion. This enables the baker to cut | down his overhead and be content “Low" Not Always “Obeap" It is curious how many people confuse low priced stocks with cheap wtocks, I find examples of this every day in my correspondence. 21,00 a ehare Of course, as a matter of fact. one stock may be very dear at $1.60 a share and another very cheap at with only @ very small margin of profit. The ether reason {s that, in the modern process of manufacture, flour represents less than 25 per cent of the whole cost of a loaf of It 1s espe-| bread “I will give you five main costs which constitute the main expen: @) The modern equipment and hygiené necessary to insure bread being 100 per cent nutrative and sanitary, and which establish a standard, of uniformity by which the consumer is assured the same Perfection tomorrow as today; (2) the Paper wra) » Waxed and airtight into which the bread is automatic: ally sealed, affording protection from dust and contagion; (3) modern de- lvery systems necessary to trans- Port the bread while it is fresh from the oven; (4) the salesmen who main- tain contact between the baker and the retall dealer, who feels out the public taste in bread and checks up on bread service; (5) trained research workers and a scientific laboratory essential to maintain quality and improve it. “An important ingredient in mod- ern bread-making is milk. This is a comparatively new element in bread Production, It is a costly ingredient. but has a very definite value in in- creasing nutrive content. “The profit in each loaf is so small, only a fraction of a cent. that the bakers’ profit lies in volume. Any increased cost in production, therefore, is met when possible, not by increasing the price of bread, but by striving to increase the volume of production.” Mr. Ward added that the bakery business was the only one which sold only to competitors, in other words, the housewives. Dissatisfaction with quality or price, he made clear, would -be-followed by home baking, which automatically would redu bakery consumption and increase the cost to the baker. sented to pick up bargains. Such occasions are not frequent. When they do come they should be used to acquire only share in corporations ter from rushing in to take up som , | Speculative stock now selling at $5,00 Ps “tides along” with them. He likes te go with the current. He leaves to the Da ayee outeider to buy the quotation is low. er than it was a week or a month ago. The other day I had a letter from a reader who wanted to bu? railroad whose golng down. Now it is true that every so often there comes times of market depres. sion when quotations for standard shares are forced down below their at $10.00, because at wee once soe There lways a reasoi for a line, a reason that should be-carefully examined before mak- ing a commitment. The trouble is the people who can afford to take chances of this are the ones most eager to as: It {s the function of to carry such risks and Ing he performs an economic ir this service he ts en: to reward in the way of profit, from In the long run the ever it may look tot! newspaper stories of the fortunes made by this or that notorious real merit and opportunities are pre- plunger. Nine Wells Completed Last Week by Midwest Refining Wine Salt Creek completions are deer intitus eeake Teer ty the efter Midwest Refining company, These new producers have a total ae tion of 1,434 barrels. List of the ‘wells follows: Midwest Oll—No. 13-A, NE Gee. 20-40-79, depth 1,471 feet; 110 bar rels after shot. No. 26-4, NW Sec. 2-39-79, depth 1,690 feet; 5 bar rels after shot. No 8-A, BE% Sec. 26-40-79, depth 1,470 feet; 180 bar- rele after shot. “No. 6-A, BW% Sec. wer Talk ¥. B. Tough, chief petroleum en- gineer of the United Statés bureau of mines, and BE. P. Campbell, dis- trict supervisor, will arrive in Cas- Per tomorrow on a regular ineppor tion tour. Mr. Tough is making trip to all important oll Held” in the country. B. W. Musser, field superintend- ent for the Utah Of! Refining com- Pany was in the city last night on his way to the Black Mountain field in Hot Springs county. He is ex, pected"to return here the latter part of the week. ed oO. W. Ewing, Utah ofl promoter, has been in Casper this week on « deal that concerns the development of Gebo Dome in Hot Springs coun- ty. Herbert Dailey, head of the Mid- called there recently by the death of his father. SILVER NEW YORK, Nov. 13.—Bar silver, 69%+ Mexican dojlars, 53%. LONDON, Nov. 12.—Bar silver, 34 pence per ounce, Money, 3% per cents 95-40-79, depth 1,475 feet; 100 barrels shot. No. 21, NE Sec, $5-40- 19, depth 1,095 fet: 200 barrels, first eand i, ‘A, SW% Sec, 11- 40-79, Bagg 2,850 feet; 202 barrels Wyoming. Associated—No. 29-A, NB, Sec. 2.89.79, depth 1,776 feet: 841 barrels after shot. No. 16-A SE %, Sec. 34-40-79, depth 1,775 ee 203 barrels after shot. N BBY Sec. 34-40,79, depth 1,659 at 146 barrels after shot. WOMAN DRIVER BEING SOUGHT) = (Continued from Page One.) m, according to. detectives. Preparations for the gangsters’ funeral set for Saturday from an undertaker's chape} indicated {t will be one of the most pretentious fun- erals ever accorded an underworld character, surpassing even that of Frank Capone, gunman slain in a Pistol duel with policemen. A cortege a mile and a half long and $650,000 worth of flowers paid tribute to Capone’ since Capone was O'Bannon 60 also will "his funeral be outdone, Flowers worth tens of thousands of dollars already have been order. ‘| Southern Railway pfd. Locomotive American Smelting & Refs. --- 85% American Sugar -...-.--.--.- 4% American Tel. Anaconda Copper s.--+ec-asoe Atchison ~.----s.-se-seer—-oeel10% Atlantic Coast Line ~.~.-----14115 Baldwin Locomotive Se ahiaacaaiy +} Fargo Balttmore & Ohio ~.---~... central Leather --....~.---- 15 Jerra de Pasod -.-------.---~ 48% ea eto as wececeweernee 28 Chesapeake chicago & Northwestern Thicago, Mil. & St. Paul, pfd. — Chicago R. I, & Pac. - 39% Jongoleum Jonsolidated Jorn Products, new ~~~. osden Oil Crucible Steel esi Cuba Cane Sugar Sugar, pfd. .. Davison Chemical --~--+--..+- Du Pont de Nemours Marine pfd. -..-..- 29% (at. Tel. & Tel. ~.-----ewe~-- 8246 Invincible Oil eranesnne 164 Kelly-Springfield Tire .----.--. 15% Kennegott Copper ----eweers 48% Louisville & Nashville .. Mack Truck Marland Oil Missouri Pacific, tonal Lead % New Orleans, Tex. & Mex. pace New York Central svesvesewedl 4% N.Y. N. H. and Hartford 22. 37% Norfolk .& Western enccwereonld4 iy Northern Pacific +eweee-eeee 6814 Pacific Oil -eesve-reersee ag 55% Pan American Petroleum wat 1] Lenneyivania =. Producers & Re! oe Pri PUre . Of} -nensereereerereneee 874 1B a an~ sve ne 65 Republic Teron & Nteel ------- 47% Reynolds Tubacco ‘B" ~-.---. 77 Seaboard .\W Line venveeweever 31% Southern Railway ~-.-------- 724 71% Standard Oil of Cal. ~. Standard Oil of N. J. Sasaeeey 38% Studebaker Corporation ~-..0- 35% Texas C0, -~--0reqec-enewevee 42% Texas .& Pacific -rerncowerseee 40! United States Rubber ~----ese~ 35 United States Stecl .....-. Utah Copper .. Westinghouse Biecirio Willys-Overland Continental -cerrenennoce 68 Crescent -er-ewrenrere= 146% 16 Cumberland ..2-.00~-000134 Bureka -----—-----e---- 88 Gal, Big, Com. <.--0--e~ 58 Old Pid, .----L1T New Pid. --+---108 BO, PIpe ~--nwee-nerreve 03 So, Penn. Of] seecen--+-135 8. W. Penn. Ol] ~--ene~ 17 B. O. Ind cnccpersseves 61% 62 B. 0, Kan. wcepewereene 39 89% 1 oO. N, 0. Ohio O, Ohio Pfd. .. Swan & Finch new VACUUM weeense. Washington ...-. ed by leaders of gangs, open allies | Otes' or secret enemies of the dead. peta Sana Batter and Eggs CHICAGO, Nov, 12.—Butter, higher; creamery extras 39c; stand- ards 87%o; extra ‘first 36@87%o, firsts 82% @34%c; seconds 29@31. Wgee, higher; receipts 2,342 cases; firsts 43@50c; ordinary first 37@41¢. ph dah nchomncin dh For results try a Tribune Classi: fed-Ade Mule Creek ~------~--nccescce Sunburst 8B | 900; Pilot Butte -@he Casner Dally ECridun Grain 3 AND QUOTATIONS B¥ LEASED ¥ Columbine ~..--------- Central Pipe --.-.---- Consolidated Royalty . Cow Gulch -~.--.---- Domino ~-2s-0-------= Elkhorn \~----..--..-- |. T. Wi eeeneee Frantz Gates ~--------------- Jupiter ---------..---- Kinney Lance New York Oll -.~..~--10.00 Picardy ..---ee-ce0--- «02 PROBLON weceeene--ee=- 01 Red Bank ~~-----~.--29.00 Royalty & Producers - °.03 Sunset -.--.-4- 08 Tom Bell Royalty --.. .02 Westorn Exploration — 3.10 Western States .. 12 FOO eect wipes: 05 NEW YORK CURB CLOSING Bid Asked 19.25 10.50 15 25 25.25 25.50 7.50 11.00 210,00 11.50 58.62 Mountain -Producer: Salt Creek Cons, -... New York Cnt «cnn Chicago Prices. CHICAGO, Nov. 12.—4U. 8. De- partment of Agriculture.—Hogs— Receipts, 33,000; steady with Tues day's best prices; big packers doing ttle; fairly broad demand; top, $9.35; bulk desirable 200 to 325 pound butchers, $9,45@9.76; 140 to 180 pound averagem, largely $8.25 @9.25; bulk packing sows, $8.80@9.10; ma- jority strong weights slaughter pigs, $7.50 8.00; heavy weight hogs, $9.30 medium, $9.25@9.85; light, 60; light lights, $7,00@8.75; hogs, smooth, Packing hogs,.rough, $i slaughter pige, $7.00@8.00. Cattle—Reoeipts, 18,000; practical ly nothing done; lower grades. fat ateera and she roel predominating in.run; some inquiry for speciaities on. yearlings and handy. weight or», ders; some. common and mediunt grade offerings neglected;..bids un- evenly Jower. on both grassy and short fed natives and western.grass- era; approximately 3,500 western Graseera included in receipts; some me finished handy weight steers above $12,50; heavies averaging @round 1,500 pounds, $10.00; bulls, steady to weak; supply weighty sausage bulls, small; veal calves, very slow; choice kind tending lower. Sheep—Receipts, 16,001 ‘Strong: sorting very ligh natives and comeback, few to city butchers, Most cylls. $10.50@11. BRS 2 feeding lambs, unchanged; fat top, $7.50; feeding Jams, Sat 75@14.00; early top, $14.25. Omaha Quotations, OMAHA, Neb., Nov, 12.--U. 8. Department of Agriculture.)—Hogs Receipts, 10,500; slow, steady to weak; packers buying sparingly: bulk 20 Oto 800 -pound butchers, $9.00@9.25; top, ; desirable 160) 5 smooth, sa78; bulk of all sales, $8.40@9.25: Cattle—Receipts, 6,000; fed steers and yearlings, slow, weak to 10@15c |) lower; bulk, $3.25@11.40; long year- ings, $12.00; grass cows and heifers, slow, weak to 25c lower, mostly 10@16e lower; bologna bulls, steady to strong; veals, 25@50c lower; stock- ers and fedeers, dull, practically no early salee; bulk grass cows and helfers, $3.50@5.60; canners and cut. ters, $2,60@39.00; bologna bulls, $3.15 beefy natives, upward to $3.90; practical vael top, $9.50. ” Sheep—Receipts, 8,000; ali classes active, fully steady; best western lambs, $18.25@1: @13.4' fed clippers, f 75; some held higher; ewe top, feeding lambs, upward to Ht feeding ewes, $6.25. — Denver Prices. DENVER, Golo., Nov. Department ~-Receipta, higher; top, 7 for 210 pound averages; medium to choice 190 to 20 pound weights, $9.10@9.60; other i steady; 120 to 140 pound avorages, $7,50@8.00; packing ‘sows, $7,75@8.00; atock pigs, scarce. Cattle—Receints, 2,700; calv ,050. pound 12.—(U, 8. 3 early sales feeders, $7.00@7.25. ci Receipts, 4,100; mostly choice 80 pound averages, $13.50; sheep, wcarce; quotably steady; feeder lambs held about steady; two loads choice kind held above $14.00. POTATOES CHICAGO, Nov. 12.— Potatoes, trading slow for ordinary stoc g00d for good stock; market steady; receipts, 65 cars; total U, 8. ship- ments, 726; Minnesota sacked Hed Ri Ohfos, mostly around $1.05; Minnesota, and Wisconsin sacked round whites, 75@9ic, mostly 80@ South Dakota bulk found whites, .85¢; sacked Early | Ohios, 11.05, = Bere is ASE CHECKED INWALL STREET Bear Selling. La Late in Day Responsible For End of Bull Movement NEW YORK, Nov. 12—Extensive profit taking and bear selling check+ ed the upward rise in prices In many stocks in today’s, market, but falled to have much effect on the volume of business. More than 40 stocks broke through thetr previous 1924 high -levels,. although many of the popular industrials sold off 1 to 4 points from their early high levels in the late trading. Sales approxi. mated 2,000,000 shares. NEW YORK, Nov... 12-—-Another burst 0: bullish enthusiasm charac- terized the opening of today’s mar. ket, which was featured by the enormous demand for. low priced railroad shares. Frisco common scored four points t oa new 1924 top at 61, aty"’ preferred advanced 1% to 68c, also a new top. Other stocks to break through thelr prev- ious year's highs were Missour! Pa- cific corhnmon, American Locomotive, Foundation Company, Pullman, Eastman Kodak and General As: phalt. Prices surged forward throughout the early trading. the only heavy spots being American Can, Baldwin and Chandler, which fell back 1 to 1% points, Buying orders were spread over a broad list, with sugars siving one of the best demonstra. tions of group strength. Frisco common broke from its high of 51 to 471%, but Southe: Pacific, Wa- bash preferred =“ American Smelting, Corn products and United States Cast Iron’ Pipe all eclipsed their previous high records, the last | Dec. named jumping 3 points to 130. Heavy profit taking sales were again In evidence, but they were well ab- sorbed in most issues. Foreign ex- chances opened easier. Trading ‘continued at a furious pace throughout the morning with the main trénd distinctly upward. A tremendous volume of profit-tak- ing took place, particularly in the rails and some of the recently strong industrial spectaities, but the pro- ceeds*apparently were re-invested in other stocks ‘In which the advance had not reached such large propor: tions, speculative interest constant- ly shifting: from-one group to an: other. Davison Ghemical broke 31% points and American Can 2%, but General » Blectrio, Continental Can, Allied Chemical;and U. Iron Pipe: developed marked oa ‘Thesnumber of new. Sa) ‘o'clock. Call money renew: Od. at3.per-cent, + A precipitate drop of six points in Davison. Chemical -to- 28%, ‘the low price of the .year, caused hast; unloading by traders. who had profits in other stocks, under which a number of shares yielded from one to three points under yesterday's final figures. Subsequent buying of Sears Roebuck, Mack Truck, Mar- land Oil,,Central Leather preferred, Texas Gulf Sulphur, Schulte, North ern Pacific and Gr Northern pre- ferred thpcked the general decline. The;cloring was irregular, con- Nilcting price movements took place in the final déalings with many of the standard rails and industrials continuing to lose ground on realis ing sales, ~ Bullisti operations con- tinued, however, in other sections of the lst, United States Cast Iron Pipe soaring over 10 points to A87%, ‘ Grain and Stock Opinions From Brokerage Wire block Upimions. BLOCK MALONEY-—On technical grounds we will sem setbacks. from time to time but with public interest so greatly.aroused We do not think the declines will go far. We would use dips.to buy. but take some brofits when ‘you have them, HORNBLOWER AND WEDKS. —Bwitch fromthe rail and industrial group to olls as @ precautionary measure against what is tikely to take the form, of a sudden reaction when public buying has been satis: ives even though the reaction {n groups is a technica) develop: Not ail yails have ended their immediate rally poss{hilities, but enough of them have done so to make a set back worth waiting for. LIVINGSTON AND CO,.—¥Follow- ing the lead of United States Steel, the independent steels should do better but Sloss Sheffield is about the only one we would want. Thoir st€ck sHould “sell higher. MILLER AND CO,—Although re- detions’ at intervals are expected, this broad, forward movement ap- pears to be so sound:y based that it's continuence seems to be assur: ed for some time to come. J. 8 BACHE AND CO.—Coppers and olls are being boomed and we think they can be purchased for higher prices. Genuine improv ment should manifest itself in the steel industry soon. Grain Stein Alstrin—We expect higher prices. Hulburd, Warren and Chandler — The situation ts loping more strength daily, Bartlett Prazier—We have every eason to believe in higher prices. Thomson MeKinnon.—Small re: cessions will offer opportunities to enter the market, Riordan = Martin.-Purchases ips look: reasonab'y #af Jackson. Brothers.-—Belleve grains -will-werk conuhterably- higher, still on “AGE SEVEN, Livestock :: All Markets ‘RALLY TRALS GRAIN SLUMP Wide Fluctuations Mark Trading on the’ Chicago Exchange CHICAGO, Nov, 19.—With re ports at hand telling of general rain in Argentina, wheat underwent a decided setback in price today dur- ing the early dealings here. The fact that Liverpool quotations had undergone a sharp decline yesterday while American exchanges were closed gave further emphasis to the initial weakness.of values here. Im- Portant new buying largely the re- sult of standing orders, eloped. here on the downturn, however, and the market became a broad rapidly swinging affair in which individual Sperations counted for little. The opening which ranged from 2 cents to 3%o lower, December $1.50@1.51 and M1 @1, by rallies of 1% cents or more. Corn and cata were chiefly gov- erned by sympathy with wheat. Af- ter opening % to 2%c down, May $1.13% @1.14%, the corn market recovered most of the loss, Oats started at half to 1%o lower, May S6@b7%c. and steadied at about %e under Monday's finish. Provisions were responsive to grain weakness, notwithstanding that hogs values showed compara- tive strength. Pronounced weakni became tem: Porarily manifest again near the end of day, influenced more or less by apparent dearth of new export busi- ne A quick rally, though, ensued, the market closing unsettled at 4 to lige net decline, December $1.52% to $1.52% and May $1.59% to $1.59%4. Wheat— See High Low Close 1.53% 1.50 1.62% - 157% 1.59% 1.57% 1.59% July ---- 1.37 1.89% 1.36% 1.39% Corn— Dec. ---- 1,09 1.12% 1.09 1.12% May ~--- 1.138% 1.17% 1.13% 1.17% July 1.14% 1.16% 1.14% 1.18% 51 BSH BG BT4h 56 54% 56 54% 1.35 1.87% a 35 4: 36% 1.39 + 1 52% BT 66 1.37% 38% 35 July .--- Rye— Dec. --.- May ~.-. TUly sone 14.83 14.25 14.70 14,71 12.60 12.60 13.77 NOV, enew wee neve Yan, S845 WAS A 12-46 ERO, Nov, 12.<-Wheat--No. $1. OLSSH: No. 2 hard, 2 mined, $1.1101.12%; No, 2 ‘yellow, $1.11% @1.13. it whit 2@53%c; No. 3 white, 49% @50 ec. Rye—No. 2, $1.34@1.35. Barley—78@88c. Timothy seed-—$4.856@6.50. Clover seéd—$18,00@ 20.00 Lard—$14.82. Ribs—$13.50, Bellies—$14.25. | Foreign Exchange NEW YORK, Nov. 12.—Foreign exchanges, easy. Quotations in eonts: Great Britain, demand, 450%; cables, 459%; 60-day bills.on banks, ‘45654; Franco, demand, 6.27%; cables, Italy, demand, 4.33%; cables, 4.34; Belgium, demand, 4.8344; cables, p4,84; Germany, demand, 23.81; -Hol- \Jand, 89.83; Norway, 14.67; Bweden, 26.80; Denmark, 17.58;°Switzerland, 19.24; Spain, 18.85; Greece, 1.80; ‘Poland, :19%;- Csecho -Slovakia, 8%} Jugo Slavia, 1.44%; Austria, 14%4; Rumanig, 55>, Argentine, 37.50; Brazil}, 11.80; Toklo, 38%; Man- treal, 99 31-22, Yeast Eon ve son NEW YORK, Nov. 12--Call mon- ey easier; high 2; low 2; ruling rate 2; closing bid 2; offered at 2%; last Joan 2; call loans against accept- ances 1%. Time losns firm: mixed collateral 60-90 days 34% @314; 4.6 months 3%. Prime commericial paper 3%. > | METALS NEW YORK, Nov. 12.—Copper, firm;-electrolytic spot and futures, 18%@14. Tin, steddy; spot and fu: tures, 54.50. Iron, steady; prices; unchanged. Lead, steady; spot, $.65@9,00. Zinc, firm; Hast St. Louls spot, 6.77@6.80; futures, 6.80 @6.85. Autimony, spot, 14.75. a eenann COTTON NEW YORK, Nov, 12.—Cottoi— Spot, steady; middling, $24.60. a SUG NEW YORK, Nov. 12.-—-Refined sugar was unchangéd to 25 points lower with list prices ranging from $7.46 to $7.25 for fine granulated, and a better business reported. Refinea nominal. MINNEAPOLIS, Minn., Nov, 12.—~ Flour, unchanged to 10c lower; family Patente, $8.05@8.40; bran, $24,00@ 25.50. —— For results try a Tribune Classt- Sed Ada. Market General Summary. Purchase of Stamford Cotton mills in Fall River by Firestone Tire and Rubber announced. Baldwin Locomotive company. $2,500,000 from Rou- is closing its Bucharest of Minister of finance, accord- oO newspapers, has iss in- is that Baldwin representa- tive shall not again be received at ministry and that any further dis- cussion of Baldwin must be discuss- ed through foreign offices. Canadian Pacific 1s expected to ar- range $30,000,000° financing shortly. NEW YORK, Nov. 12.—Prices of Wyoming oils at 2 p. m. today were Usted on the New York Curb as follows: Standard Oi! (Indi ), 6144; Mou! tain Producers, 18%; Mutual, 12 New York, 9; Salt Creek Producers, 28. OU Summary. Romano-Americano company, a Standard Oi! subsidiary, has brought in a well at Runou Rumania, which is flowing over 15,000 barrels a day. Midwest Refining company's test well on Berthoud dome, northern Colorado, 20 miles south of Fort Collins, entered’ the Dakota and at 3,925 feet and found it contained hot su’phur water. The well had been making gas for sometime and gave every indication of opening a new Colorado field. « Results are dis- appointin, The hole will bo deep- ened to lower sands before being abandoned, Standard Oll of New Jersey has completed well number 92, Cacall- lao, at 2,035 feet with 2,500 barrels initial production. Well number 176, CacalLao, which showed 9 per cent salt water, has been pinched from 32,000 barrels to 25,000 compared with 16,000 dally for week ending November 1, Red Bank Ol! company brought. in well on its 320° acre Hulne lease, Osage county, Okla- homa, with initial production of 1,000 barrels per day. Motor gasoline advanced one half cent by Pennsylvania refiners, Daily. average crude oj] produo- tion is United States last week ta- tiled 1,045,122. barrels, a decrease of 2,253 barrels, according to ON City Derrick, London Morning Post declarod there is no truth in statement ‘that Premier Baldwin is committed to sale of British government's Anglo- Persian oil shares. On the con- trary the paper states Baldwin, on expert advice, turned down sale Proposition, , Oil. City Derrick says. Abinto ‘Gally production decreased 7,000 barrels and California 2,000 barrels last week. Tendon financial Times says Royal- Dutch. She'l interests took. advantage of American-oll gint to buy oll'in the United States which was financed by issuance of bonus shares. Cosden has brought in a new 1,000-barre!l well in the west exten- sion of Cromwell pool, the second 1,000 barrel well in this location «in past ten days. Seventeen new wells started in Call. fornia last week against 28 in pre- has ceed! week. ae 1. Street < Journal—Sinclair earnings are showing a notable -im- provement. ¥y _ TRADING ON MART BOILS “NEW YORK, Nov. t3.—An enor: Movs amount of profit taking inthe leading railroad and industrial issues failed today to check the excited trading in stocks, total sales run- ning over 2,000,000 shares for the ry fourth consecutive full session. More than two score issues attained new peak prices for the year, cam ste So ea TAX PROGRAM TO BE DELAYED (Continued from Page One.) still lower than those for this year which were cut $390,983,878 under| the previous year. Total appropria-| tions last year wero $3,784,123,324 of which $1,399,051, was for the sinking fund, public debt and other] permanent charges, Two appropriation bills. failed o! Passage at the last session, the sec ond deficiency bill carrying $175. 000,000 and the field service classt. fication appropriating §26,357,767. Appropriations for the postoffi department for the present fiscal year was $613,645,195 which was increase of $16,633,401 over th previous year while the total inter-| for department appropriation was! $290,498,724, or a reduction of $37, 104,216, Mondel Returns To Washington’ CHEYENNE, Wyo., Nov. 12,—| Hon. Frank W,. Mondell, director of the War Finance Corporation, in Cheyenne Monday, en route from| his home at Newcastle, Wyo., to Washington city. While here he declines to discuss the proposal that! he fs to become secretary of the in terior in President Coolfdge’s new! cabinet. WYOMING GRAD PLAN MEETING An informal gathering of Untiver, sity of Wyoming alumni and forme: students will be held this afternoo at 5 o'clock in the offices of Lay. man and Layman, 203 Cottn Building, to conaider steps the large and active Casper representation can take to further the interest o! their alma mater. The meeting was called by-Monte Warner of Laramie. The Casper alumni are planning to make strong efforts when ane a 1925) Wyoming football schedule is drawn] up to have one game played here preferably a contest with a Mon. tana, team. Dr. Kocher To Lead Meeting Dr. William Kocher will be th leader of tonight's meeting in the feries of evangelistic services whic! are being held by the Epworth League at the First Methodist) church. His subject will be “What! Lack I Yet?" Misa Eda Holland willl sing, “Give Me Thine Heart.” Tomorrow's theme will be “The Downward Pull,” and H. B. Durhant will be the speaker. The services are open to the public. ; —_—. Steel. | PITTSBURGH.—The Carnegie Steel company plants here are oper ating at about 60. per cent off capacity, PEAS ——_____ Shoes, BROCKTON, Mass.—Stockholder: of the Emerson Shoe company and the Emerson Shoe Stores have vot to actept the cash ‘offer of $300,000 by Edward Freeman, Inc., Ne York, for the assets of the two com] panies. It is planned to re-open tha shoe factory here which h cape —— Every Thursday pecials Set of 6 STAR CUT WATER GLASSES THURSDAY SPECIAL 60c The CAMPBELL HARDWARE CO. 147 South Center Street Phone 425