Casper Daily Tribune Newspaper, November 30, 1924, Page 11

AY, NOVEMBER , 1924 SUND. 30, Che. Casyet Sunday Cridune EAT SCORES NEW ADVANCE IN MARKETL. op Damage in Algentina and-Folling-Of ; Visible Supply Here Brings Sharp Upturn y In Trading at Chicago. CHICAGO, Nov. 29.—Frost dam- bge in Argentina during the harvest- ing season and a sharp falling off in stimates of the visible supply in Huntry forced wheat prices to her level week, the advance ontinuing until today’s short ses- on when month-end adjustments used a setback. Fractional de- ines only ‘were marked up, how- wer, December closing at $1.53% Allied Chemical & Dye -----. 79 Americun Can -----~._----_ 147% American Car and 174 American International Corp = American Locomotive -.----- American Smelting and Refs. Hy American Sugar. ----------.- American T. and T. American( Tobacco ---.------- American Woolen ~--~------- Anaconda Copper: ------.---- Atchison: '-_.2— a. Atl, Gulf and W. Indies -..- Baldwin Locomotive Baltimore and Ohio slump on Friday in sympathy with a decline at Liverpool, Prices of corn and oats remain- ed easy under the influence of fa- vorable weather for promoting the movement of the new corn crop, while the demand for provisions in- creased on forecasts of a scarcity of hogs before spring. Today's range of grain and pro- vision prices follow: Open High Low Close NEW YORK, Nov. ‘Stock prices under the impetus of a buy. ing movement which -has developed only slight interruptions continued to mount during the week just end- ed. Suspension of trading over the holiday failed to exert the usual de- terrent effect as did also a rise in call money rates. The advance was steady after slow trading during the early days of the week and the whole ist was marked up, some to Canadian Pacific ------------ Central Leather <--------. Cerro de Pasco Copper ------ Chandler Motors ------------ Chesapeake and Ohio ~..---. Chicago and Northwestern ~~ chicago, Mil. & St. Paul ‘pfd. nd May at $1.62%, while December Wheat: = new top. prices. About 1,100,0 orn was steady at $1.13% and May| Dec. .... 1.54 1.55% 1.68% 1.53% | Chile comes ne eae shares changed hands during ‘te. 1.21%. May 11.1 1.69% 1.68% 1.61% 1.62% | Chino Comper ose day's short session and the closing Decrease in the domestic visible | July + 142% 143% 1.42% 1.42% | Consolidated Gas was strong. upply was responsible for a atif- Corn Products Public favor turned to the indus- ning of prices early in the week, + 118% 115 112% 1.21% | Ge, trial sden Oil rial stocks as a result of steady im- jacing the market in a favorable « 1.20% 11.22% 1.20% 1.21% | Crucible Steel provement in industry but while ondition to respond to builish re. + 121% 1.23% 1.21% 1.224% rails suffered lack of attention di- rts. May and July wheat ascend: rected toward them for the previous to new peak prices for the year, + B2% 58 -52% .53% | General Blectric two weeks, they moved forward with rength developing from the an- - -58% .59 58% .58% | General Motors _~ other issues. Heavy buying from jouncement that the United States + 57 .B7% .56% 57 | Great Northern pfd. all sources tended to bear out the an unsold wheat surplus of only Gulf States Steel prediction of B. H. Gary, head of the 46,000,000 bushels and that + 1.34% 1.34%. 1.33% oe sie United States Steel spobgee: 4 ‘ Inspiration Copper bi at? ed States Steel corporation, that ves on the farm are unusually +189 1.39% 1.87% Titetidtiowhl, “Harrestac the steel industry would soon be ght for this season of the year. + 1.28'° 1.28 1.26% operating at capacity. Pig iron and Int. Mer. Marine pfd. International Paper .. Kelly Springfield Tire Kennecott Copper Mack Truck Marland Oil Maxwell Motors -. New York Central Northern Pacific — Pacific Oil Pan American ePtro‘eum B- Producers and Refiners Pure Oil Reading - Repu! Iron and Bteel_ - Sears Roebuck -~-----. Sinclair Con Oil ~------.----< Southern Pacific --------.-. Southern Railway —- Standard Oil of N. J. ~-.-. Studebaker Corporation -.-. Texas company Tobacco Products y CES = Transcontinental Oil Union Pacific -.-.. 8. Ind. Alcohol United States RuSber -. United States Steel — Utah Copper Westinghouse Electric ---- Willys Overland Butte and Superior ~--.-.. Colorado Fuel and Iron National Lead -. Reports from Argentina, on which e market advance late in the week based, state that no less than wif of the wheat crop there is ir. parably injured. Falling off in ex- ort demands on more than one oc: nsion during the week threatened a ne ih price but rallies ensued ter each downturn, including the finished steel both were advanced in price and operations by many mills increased. 14.85 14,85 14.85 14.85 15.15. 14.85 sere eeee seve 18,63 SOUTH TO PROSPER DURING COMING YEAR eser W. Babson, Noted Statistician, Sees Improvement Spreading Northward and Westward in Country. BABSON PARK, Mass., Nov acing the path of business recov- 'y, Roger W. Babson, the statis- jan, today called attention to cer- in developments already apparent five states. YA business survey of the entire juntry shows a golden path of pros- rity. stretching from Florida di. onally northwest through Ala- a, Mississippi, Arkansas, and in- the wheat wealth of Kensas," Mr, Babson. This bright strip improvement is believed by many foretell a period of good times, only for the particular states mtioned above where activity ms to be appearing first—but 0 for practically the entire th, The other southern states | yadoubtedly have their turn MEntiy; it simply happens that ese four states are in some ways ¢ first to feel a radical revival. We ght fancifully call them the Four orsemen of Prosperity. “Florida has held up through this fhole era of national dullness with tonishing vigor, due of course, in By J. C. ROYLE. (Copyright, 1924, Casper Tribune.) NEW YORK, ‘Nov. 29.—The farmer's dollar undoubtedly is get ting bigger and, in consequenci those who sell to the agriculturists anticipate that it will be easier to ret. After a somewhat jerky move- ment throughout the fall months, October and November have seen a definite rise in the ratio of farm prices to wholesale prices of non- agricultural commodities. This is indicated by a survey just completed by the Sears-Roebuck Agricultural Foundation, based”on figures of tho department of agriculture, and it means that the farmer has made a long step toward reinstating himself as a buyer in the industrial and busi ness world, What happened to the farmer is Plainly seen from the figures com- piled. ‘These were based on com- parison with the average prices of farm products and noh-agricultural products from August, 1909, to July, 1914, which, in each case, were given an index figure of 100 per cent. In 1918, the buying power of farm products, as compared with those the farmer did not raise was 106 percent, the farm price index hav- ing reached 200, as compared with 100 before the war, while the index for manufactured goods advanced only to 188. At the end of 1921 the buying value of the farmer dollar as com: entire section as a great industrial site where there will be paralleled the manufacturing development al- ready witnessed in the Atlantic states of the south. In other words, there is the prospect of a mighty industrial center toward the west- ern parts of the South as well as the further expansion of the eastern zone “Economists point to the demon- strable fact that the south has four fundamentals of» industrial sucess: abundant and flexible power, ample and varied materials, favorable labor conditions, and access to gréat and growing markets. Certainly there is a combination of conditions here which seems to assure the south of an industrial future rivaling or sur- passing many of the records achiev- ed in other localities. sates “Other economists attach consid. | Consolidated Royalty- erable importance to what is call- oor Wulch :< swan ed the ‘natural trend of trade.' rt] Domino has been advanced as an economic principle that the most powerful and permanent movement of trade is ultimately from north to south Bessemer Boston Wyoming ---- Buck Creek --- Burke ed Blackstone Salt Creek Chappell - Columbine -. Central Pipe rt to the influx of people and poc-| and from south to north, since each pared with what he had to pay oaks, Incidentally, Florida’s| region has a natural pre-eminence| 00°" Goastal ne for non-agricultural products, had tton crop this year is valued at/ in the production of certain products Tanioe: Cresbenarale “00% shrunk to 69 per cent. This was the jore than 50 per cent in excess of | and likewise has a natural need for | hance Cree! dated lowest point in the depression Marine 1.00 t year's crop. Alabama not only | the specialties provided by its neigh- period. During this time the farm. 8 a cotton crop valued at more| bor. Hence, the economists argue, | Mike Henry --—- mpd er’s dollar would buy cnly 69 cents an 20 per,cent above last year,| trade reaches its full and final de-| 0 York Ol 850 worth of non-agricultural goods. In t also appears to be on the eve of | velopment in an inter-change of | DY 4 eis Bee 1922, the ratio rase to 74 per cent revival in the {ron and steel indus-| products from south to north and] ),0u0y ~~~ etek and in 1923-it climbed to 78, with Moreover, the development of | from north to south, Hoa ank ST3"y aig the index umber of the cost of ctric power js an unquestioned urce of strength for this state. “In this connection it is of pass- ing interest to note that even the living 71 points and crop prices 34 Royalty & Producers... points above pre-war levels. In the 03 ississippi is another state where | long range weather forecasts—which Se Royalty rt ae present month; the ratio has risen e cotton crop Should show a pro-| have been the subject of so much Western. Exploration 7 2.90 to 87 per cent’of equality. punced gain in value over last| popular discussion recently—can be Western States et 10 This gradual climb of prices ‘ar, the increase probably exceed- lg 30 per cent. There are also re- Pris of approaching improvement interpreted as | favorable to the south. Whether or not the next few years will witness abnormal cold, which the farmer is paid toward the level at which he must buy, indicates as clearly as anything can, the im- BS, 06 NEW YORK CURB CLOSING Stocks :: Grain :: S AND QUOTATIONS BY LEASED | UPWARDIN NEW YORK Movement Which Lagged at Start of Week Und ~ Full Head Agam at Close and Many =a New Tops Are Reached. Scores of industrial stocks were led to higher levels under the lead- ership of United: States Steel com- mon, which reached its highest mark in several weeks. Broad de- mand developed in the motor, chem- ical, copper, rubber, textile, food, equipment and merchandising groups, Failure of railroad reports -to show any marked seasonal decline contributed to strength of these is- sues. Car loadings for the second week in the month totalled more. than one million, Speculative .favor was shared’ in the week's market by specialties and miscellaneous shares, Famous Players, Pressed Steel Car and Sav- ane Arms being among the favor- tes. Flotation of the $100,000,000 French loan, four times over-sub- scribed, featured the financial mar- ket. The new bonds immediately commanded a substantial premtum. Another development was the exten- sion of a $15,000,000 credit by Amer- {can and British bankers to the German railways, as re-organized under the Dawes plan, Farmer's Dollar Getting Bigger; Improved Trade Conditions in Prospect This country ts facing one serious shortage which may mean higher prices for butter, milk and other dairy products. Clover seed crop this year was the smallest ever known, totaling only 817,000 bushels, as compared with 1,100,000 last year and a five-year average of 1,610,000. Last year it was necessary to import 24 million pounds of clover seed from Europe to seed pastures but Europe also is short this year and probably! will be Able to export little seed. Prices for sced alroady are high and dairy men predict they will go higher. Farmers are being advised to grow alfalfa rather than compete for high priced clover seed, and avoid thin seeding. ‘The alfalfa crop of the country was nearly a third larger than normal this year. American Prosperity Stiffens Canadian Prices, The fact that the farmers of the United States are prosperous and will have money to spend is likely to bring added expense to those who buy Canadian products. This has become especially apparent in the newsprint paper situation. In Octo- ber there was considerable discus- sion as to the probable price of contract news print for the first half of 1925. The trade and finan- clal papers suggested a further softening of prices and $65 to $68 a ton were suggested, declaration be- ing made that many Canadian mills could pay dividends at the former pric he Canadian mills, however, profess to see additional demand from American consumers as a re- sult of larg vertising by pro- ducers and retailers. Many mills are demanding $10 @ ton for next year and some contracts are being placed at that figure. Production at American newsprint mills so far this year is well under that of 1923, but the Canadian out- put has increased sufficiently to bring total ouput of the two coun- tries to record figures. Book, fine paper and wrapping paper are very firm and the box board market Is the science of meteorology is not yet sufficiently advanced to foretell with assurance. Suffice it to say that many sttdents of this sitbject are inclined to look for a general lowering of temperature during the immediate years ahead, as an even- the lumber industry. “The cotton crop in Arkansas Pould bring a third more money an a year ago. Economic statis- $s show that Arkansas is display- 6 great strength. There is evidence %. the business indications for proyed condition of the agriculturist Bid = Ask 19.1 44 Mountain Producers -. Glenrock Oil Salt Creek Prod. Salt Creek Cons. - New York Of] - Mutual Everyman’s showing increased activity. Investment tual result of observed declines in the sun's hi Should there be a tendency in this direction, it is not impossible that during the next few years the whole country will depend upon southern agriculture and af- filiated activities to an extent even greater than in the past. “Prosperity is already evident. in the south,” said Mr. Babson in con- clusion. Improvement is spreading rapidly and general business as re- flected by the Babsonchart is but 1 per cent below normal as compar- ed with 7 per cent below normal a year ago.” pis"Mete make it one of the most | wored localities in the country for * months ahead. Moreover, con- bitations with leading business men the state show that local sent!- nt is exceedingly favorable for provement. It is a locality where siness men are facing the future pt only. with confidence and cour- » but with intelligent foresight d upon accurate appraisal of nditions, Looking further into the future id including a larger region than Hs one state of Arkansas alone, me observers have pictured this BUSINESS BRIEFS 8. O. Indiana A Hard Lesson. One experience is comimon to all investment advisers. An _ inquirer presents a lst of securities includ. ing one or more speculative stocks or bonds. The rating of these spec- ulations ‘s eo uncertain as to make it evident they should be disposed of at once if a sound investment postiion is to be maintained. When, however, the banker suggests to his client the sale of.these obviously un- sultab’e securities, he is met with the objection that they were orig- nally purchased at a much higher price than the present market, “IT shall-have to walt until the price comes back ‘to what I paid be- fore I can sell,” the investor pleads, This, of course, is a fallacy. The Anglo Am. Oll ----. Borne Scry: Buckeye ---------. Chesebrough Mfg. Crescent -. Cumberland Eureka .. Gal. Sig, Com. Gal. Sig. Old pfd. Gal. Sig. New pfd..-.. Illinois Pipe ~.. Indiana Pipe National Transit -. New York Transit price originally paid has nothing Northern Pipe whatever to do with the matter. This T. LOUIS.—There has been] SAN FRANCISCO.—A steady in-| Ohio Oil --------- is @ very hard lesson to learn but a crease in Sea travel on the Pacific B here since election and this has| is indicated by the fact that 14,000 bed optimism among business | passengers arrived by sea at San Who are looking forward’ con-| Francisco in July, August and Sep- much needed one. If by any chance the price should recover to approx! mately the purchare figure the ar- gument for selling wou'd not be as edy increase in all lines of bust International Pete Penn. Mex. Prairie Oil Prairie Pipe to a broader distribution of | tember, an increase of 20 per cent| solar Refg. strong as otherwise. Such price ap- The pre-enventory|over the previous three month#./ 55. Pipe -— preciation would indicate material d Ags of dry goods firms are | Trans-Pacific lines reported the win-| go, Penn. Oil, improvement in the status of the r Sing in increased orders and re-|ter bookings to Hawali the heaviest) s, ww, Penn. on” security: It would denote a raising trom in investment grade. It might in that case even be advisable td hold the stock’ or bond, indefinitely but the point is there is no assurance that any particular speculation will ever recorded. Travel to, Japan,|g 0, Ind: . however, is expected to be 30 per|s ©, Kan. o-- cent under that of previous years./§ ©. Kerr. 8. O. N. shoe manufacturing con- substantial gains. There td trend in all lines of he advanée heretofore nfined to yellow pine PHILADELPHIA. — Edward T. : Present improvement has been|Stotesbury, of J. PB. Morgan and! @, Ohio pfd. tecover to the original price within \ which permitted un-| company and Drexel Athletic club, i ana Widol vs any‘reasonable time. It may go the building operations. | has resigned, as trustee of the es other way and the lors become great j ores exceeds prés-|tate of A. J. Drexel. This is point er Instead of smaller. Both these pos action and surplus|ed to here as indicating a general sibilities must be taken into consid sines e) shift) —_————-.-—_ eration. f nding. ‘There ts a| disposition of business men to shi : ? mae ' Novement of winter olothing |the duties of trusteeship, even in ; F If the particular investor pres c 9 y a T : ase ied g 7 fr y, a ae \ buying has become | behalf of intlnate friends, to trust} ‘Try a Tribune classified ad for| list 4s under scrutiny: is unable @ompanies and banks, results, assume the risk involved in any spe cific holding the only thing to do Is to ell out and reinvest in something about which there can be no ques- tlon. Nor will a conservative invest- ment banker recommend in such cases any other speculation. Possibly the new speculation would turn out more favorably than the first, to make up the loss sustained by- such a sale. Possibly not. In any cate that is not investment. The wise and courageous thing to do when you find yourself in this unfortunate pre- dicament is to accept the loss the speculation has brought and get back on a firm basis instead of floundering around from one uncer- tainty to another. on. SHREVEPORT—Standard Oil has resumed shipments of Smackover crude by rail and is moving 15 cars daily by rafl;to Louisiana refiners alone. TULSA—¥or five or six weéeks Kansas has maintained its record ot -starting approximately — two- thirds as many. wells as Oklahoma. Last week 36 were started. ‘ Paint. ‘ CLEVELAND. — The Sherwin. Willams company reports Septem ber and October sales were larger than those of last year, while the Glidden company states its October business’ was the heaviest for that month in the history of the com- pany. - Coal. PITTSBURGH — Production of mines in the Pittsburgh district ts now slightly below 50 per cent of normal capacity. The Westmore- land district, howeyer, is working at 66 per cent. The Pittsburgh com- mercial markets are soft. Dry Goods. KANSAS CITY. ‘old and rainy weather in some sections of this state have resulted in increased sales of clothing and rubbe: Stocks in retailers’ hands are small An unusual number of pre-holiday sales are being held by tetaile here with good response. Dairy Products. CHICAGO.—Colder weather” and higher feed costs have cut Wiscon- sin's cheese production 354,514 pounds in the last week, with cur- rent trading stock reduced 2,147,029 pounds. The trade output, however, was 6,111,000 pounds, or’an increase of 2,784,100 over the previous week. Yarns, PHILADELPHIA. — Buying of worsted yarns Is proceeding steadily and is at a higher rate than in Oc- tober, when sales were universally good. Hosfery and underwear yarns show increased demand, despite the strong resistance to advancing prices, Wool. LAMPASAS, TEX.—Five hundred thousand pounds of wool of 1925 spring production has been contract- ed for here by Walter Y. Stokes, buyer for a Boston firm, at 50c a pound. The contract will involve flocks in Lampasas, Burnet, Coryell, Mills and probably San Saba and Llano counties. Textiles. SOMERSWORTH, N. H.—The Great Falls Manufacturing company Which_has been operating on_short Livestock time for months, has proposed a 10 per cent wage cut to its employcs as a@ preliriinary to expanding opera- tons. Lumber. * NEW ORLEANS. — Unusually heavy demands for lumber have in- duce many mills in this section to increase ;their working schedules. Orders are running 8 per cent above normal production and nearly 26 per cent above actual production Steel. PITTSBURGH.—Pittsburgh steel and iron companies operating in the Youngstown district are on a high- er schedule this week than at any time since last March. Several new. plate and bar mills were started .af- ter long idleness. * Fruit. DETROIT.—The Michigan apple crop this year was only 44 per cent of normal and the quality was 10 per cent under the 10-year average. A good crop of fair quality pears is reported. Floor Coverings. BLOOMSBURG, PA—The outlook for the Magee Carpet company plant here for the next six months is very bright, according to President Law, who said enough orders had been booked the recent openings to assure full time production until rfext April. pea SS RE NEW ORLEANS.—Work $5,000,000 sea w on 1 which the Seey board of New Orleans {s to build along Lake Ponchertrain for the protection of the city and the ree- famation of lake shore land suitable for residential purposes has been started. All Markets PAGE ELEVEN, Market Gossin ‘General Summary. C. B. & Q. October net operating Income was $3,993,400 against $2,995,+ 228 in October, 1923. Trans-Atlantic conference — calls for: increase on all classes of .pas- senger rates effective January 1, excepting third class, which will be reduced December 15. Beth‘ehem Steel company operat- at average of 70 per cent against 5 per cent two weeks ago. Canadian Pacific Oc' r net after expenses was $ against $8,- 160,988 in October, 1! ‘ Swift and company declared regu: lar quarterly dividend 0; Surplus freight cars in good repair November 14, were 145,589 against 116,448 in’ preceeding week. Attorney plans complaint before Federal Trade Commission against formation of Continental Baking cor- poration merger. Oil Summary, tional Transit company plac embargoes on oil runs for immediate delivery. Motor gasoline has been advanced Ye by northwestern Pennsylvanta refiners. Petroleum. imports into United Kingdom in week ended November 24, were 35,000,000 imperial against 30,000,000 in prec week. * Trans-Continental eding: Ot company completed Number 7 well in Cro well flowing 40 barrels an hour, This is the eighth, successful com- pletion on this lease. ghee nr RE Shoes, ST. LOU. ‘The report of the Brown Shoe company shows that sales of finished products for the year ending October 31 totaled $28, 926, (23 Notice To the Public Attention has been called to this Board of the illegal advertising of one A. D. Lewis of Casper as a CERTIFIED PUBLIC ACCOUNTANT. Notice is herewith served upon him and anyone else using the titlke CERTIFIED PUBLIC AC- COUNTANT or the initials C. P. A. further, un- lawfully, that criminal action will be instituted against him or them promptly. WYOMING STATE BOARD OF ACCOUNTANCY By C. H. Reimerth, President Nov. 30, 1924. SUT Join oun Our Christmas Club is a plan for depositing a specified amount each week for 50 weeks. Then you have money for Christmas gifts, or any other purpose. Select the Club you wish to join and bring in your first deposit now. What the Different Clubs Will Pay You EVEN AMOUNT CLUBS In 50 Weeks (for Christmas . INCREASING CLUBS In 50 Weeks (for Christmas 1925) 1c Club pays_-_-_- 2c Club pays-_--- CRUDE MARKET Cat Creek . $1.20 Lance Créek 1.16 Osage Grass Creek, light. tees Greybull Torchlight Elk Basin Rock Creek « 25 Salt Creek « - 85 Big Muddy . + 76 Mule Creek ,--. - .60 Sunburst ------. 0 Hamilton Dome - 50 Ferris - 1.05 Byron ~ 1.30 Notches - - Pilot Butte ~. ~5014 Lander 70 Try a. Tribune « ad for results, You can begin with deposit and decrease your de- posits each week. 5c Club pays_---$63, 10c Club pays -- $127.50 DECREASING CLUBS 12-25 the largest 25c Club pays_--_$42,, 50c Club Cec buamae | $1 Club pays___ $2 Club pays $ $5 Club pays -- $950, gio Club pays. S804 $20 Club pays $4 020. 00° Come in, get a Pass Book and join the cut & day. Bring along ALL THE FAMILY. and have them join. see National Bank. 35 Years of Service, May We 1925) a0 10 500.00.