Casper Daily Tribune Newspaper, March 22, 1925, Page 9

SUNDAY, MARCH 22, 1925 Oil : Finance FLUCTUATIONS WILD IN WHEAT MARKET Variations Range From 8 to 14 Cents Daily In Continuation of ments at Sensational Move- Chicago. CHICAGO, March 21.—Varlations of 8 to 14 cents a bushel in wheat trading on almost every day of last week at the close of today’s brief session of the exchange found prices from one to five cents lower than last Saturday and corn marked "n in proportion. May wheat eG at $1-68% and July at $1.44% whiie May corn sold at $1.16% and Jnly at $1.19%. Wheat prices ruled strong at the opening today in defiance of lower uotations at Liverpool and Winne- yes, but the rally failed to hold und gains were wiped out. Collapse of prices early in the week to a new low, level $1.51 for May wheat delivery brought out ex- tensive buying in which ‘foreign tn- terests participated. Wild rumors regarding the available supply and foreign demand ‘vorked the market up and down, reswfting in wild trad- ing scenes, Provisions moved upward during tho week in line with increases in the hog market. Today's range of grain and pro- vision prites follows: High Cow Wheat— Close L71% 1.66% 1.68% 146% 142% 1.44% 1.36 1.83) 1.341% 1.18% 1.16% 1.16% 1.21% 119% 1.19% 21% 1.19% 1.1914 = 45% 45% 45 48% July -. ATM% ATH 46% .4T7HG Sept - ATM ATH 46% 47% Rye— 118 1.19% 1.10% 1.114% 1.02 1.03 16.67 16.75 17,00 17.03 Ribs— May . 10.00 19.00 July 2. 18.90 18.90 Bellies— 21.50 21.40 21.40 21.40 21.40 New York Oil to Drill Test Well on Structure In State of Washington ‘ew York Ol! company, large in- pendent operator of Casper and the Wyoming oil fields, has made ar- rangements for sinking a test well on the Gray's ha structure in thé state of Washington following the leasing of some 12,000 acres in that territéry, The land has been passed upon favorable by 8. Russel! Lloyd of Denver, company geologist, and other experts who hold that previous tests in the same district e drilled several miles off struc- Location for the first test has been made about three mites from tidewater transportation ‘facilities. Emil Steiger of Milwaukee, dent of the compan Young general man: » have visit: ed the structure with geglogists. Gas Well Under Control. Ohio Oil company ed un de® control its ne on the Hidden dome structGre In central Wyoming, an explosion at which recently resulted in severe burns to several emplo} Gas has been turned into the Greybull pipeline at the rate of 12,000,600 feet daily. Efforts are being made by the Ohio company to shu. in a 50-mil- llon-foot_ gasser recently uncorked in the Oregon Basin field of north- ern Wyoming. The test was start- 1 to drill through the big gas sand explore lower formations: Conservation Work Ended. The Salt Creek Producers conser- vation committee, organized at the time of overproduction in the Salt Creek oll field, has passed out of existence with the elimination ‘of conditions which it was forméd to regulate and the books have been closed upon {ts operitions. Forty. one companies which supported the movement contributed a total of $22,494.50 during its period of ex- istence, and some $2,068 on hand at time of dissolving has been pro-rat- ed to members, Committee members were M. J. Foley, L. L. Aitken, 8. H. Keoughan, W.'T. Funk, EB, T. Williams, George L. Ferguson and James P. Kem. Wyoming Production Up. Oll pipeline runs from Wyoming fields for the week ended March 14 amounted to 82,660 barrele dally as compared with 79.630 for the previ- ous.week. Salt Creek daily produc tion with 61,200 barrels showed an increase of about 1,200 barrels for the week. A majority of the Tead- ing fields of the state showed an in- crease in. production. as Lakota Sand Tests Slow. field, In section 19-39-78 in south end of the field the Kinney- Coastal Oil company {s drilling with 2-inch tools at 3,886 feet; the Mutua Ol] company ‘has a fishing fob al 2,707 feet in section 2-89-79 after cut- ting an oll sand just above this level: Kasoming Ol] company subsidfary of the Prairie Ol &«, in section 15-40-79, and Midwest Re- fining company's two wells—one in section 35 and the other in 23-40-79 are both standing and being allowed to produce, Salt Creek Specialists For years we have specialized in the ‘better grade of Salt Creek stocks. We are members of the New York Curb Market Association, and have a direct private wire to New York, Chicago, and other principal markets. Because Denver is the principal market for many Salt Creek stocks, and the nearest point of j contact to the markets for the | others, a telegram or a tele- phone call to our office would bring you in closest possible touch with these markets. Our experience and facilities enable us to efficiently execute orders in unlisted stocks and bonds to your best advantage. On executed orders we will gladly pay telephone or tele- graph expenses. , °. : Antonides & Company INVESTMENT SECURITIES Bonds New York Stocks By Blas Viecurevich Allis Chemical & Dye American y wana vis American Car and Foundry -. 210 American Locomotive - 129 American Sm. and Ref, .-.-. 96 American Sugar --- 63 American Tel and T 133% American Tobacco - 88% American Water Works 48 American Woolen 38 Anaconda Copper -. BB% Atchison --. jo Atl. Coast Line ---. 35% Baldwin Locomotive .<.. ite Baltimore and Ohio -.. 18% Bethlehem Steei -.----.------ 40% California Pet. a-- 29% Canadian Pacific 146% B (Central Leather pfd. ----.. 53% Cerr de Pasco ------------. 4734 Chandler Motor 3244 Chesapeake and Ohio 4 Chicago and Northwestern -. 64% Chicago, Mil., and St. Paul, pfd 10 Chicago, R. I. and Pac. ------ 49 Chile Copper -.-------------- 32% Coca, Cola 88% Colorado Fuel ...---. 7 Congoleum Corn Products Cosden Of Crucible Steel General yeneral Houston Oil Kelly Lehigh Valley Mack Mriland Oil M Nat. Biscuit Pacific Phillips Pure Oi -.-. Reading -. Sears Roebuck Sinclair Con. Consolidated Gas -. Cuba Cane Suar pfd. Davison Chemical -~-. Du Pont de Nemours ~~~~.. Famous Players -----. Asphalt Blectric General Motors ~. Great Northern pfd. -. Guit States Steel ---.. Hudson Motors -. Illinois Central -----------. Int. Harverter ~------.-.. Int. Mer, Marine pfd. Springfield Kennecott Copper ---+-----. National Lead New York Central ----. N. Y.,.N, H. and Hartford Norfolk and Western --.. North American Northern Pacific On ..--. Pan American Pet. B . Pennsylvania --- Phila and Rdg. C. Rep. Iron and Steel - Reynolds Tobacco B -.----. St. Loule and San. Fran. Seaboard Air Line ---------. Slow progress 18 being made on | giogs Sheff Steel —----. Lakota sand tests in the Salt Creek Southern Pacific ---...-. the] southern Railway ---.------+ Standard Oil, Cal. Standard Oil, N. J. Louisville and Nashville ---. Truck - Max, Motors A .----------.-+ Mex. Seaboard Oil -.......-. Kan. and Tex. ses--ee-+- Missouri Pacific pfd. Montomery Ward ~ Pet. 2cncsemqweseoe Stewart Warner ------------- Studebaker --------. Transcont!, Oll ---- Union Pacific United Drug U. ®. Cast Iron Pipe J. 8. Ind. Alcoho} ~---.----. U. S. Rubber .. U. S, Steel ~. Utah Copper ---. Wabash pfd. A -.-... Westinghouse Electric ------~ Willys Overland ~----------. Woolworth «.-.-..--.------. WYOMING OILS CRUDE DENVER (Quotations by Blas VucureVich, Broker) 208 Consolidated Royalty Bldg, Bid Ask Western Exploration - 2.90 3.05 Consolidated Royalty - 1.10 111 Central Pipeline -.. 75.80 | @. T. Williams AS /18 } as 20 | a3 | 08 09 07 00 ie 06.08 | Elkhorn 02 03 Domino 06 08 Royalty Producers 05% Sunset ----------- 02% Picardy --.-------- 018, | Atlantic Petroleum --. 01.02 Great Northern .. 00% .01 Quaker Oil % 02 Preston Oll -. 00% Curb Stocks Mountain Producers --... 20% Salt Creek Producers -.-. 26% 25.60 New York Oil -.. 10.00 Salt Creek Consol! 1.15 S. O. Indiana ~.-----...---. 63.25 MARKET Big Muddy” -.--e---eeennne--= 3,00 Mule Creek 1.35 Sunburst -----eeewe-eceseeneee 1.40 Hamilton Dome 1.06 erris . 1,06 Byron .. ecccnee 1.30 NOtCh€S = -nneenennmnennnannne 8 PHOt Butte ocanesere-emeencnee 1,35 \ander . 10 Cat Creek weowem—e 2.15 Lance Creek 2.15 OSAZO ono ron - n-ne newensenenene 2,15 Grass Creek, light .. 2.15 Jreybull ~ -----... 2.00 Torchlight . 3.00 Elk Basin .. 2.15 Rock Creek --ne-pe-e. 2.00 Salt Creek 2 1.60 The 2 for 1, store, 12-gauge Rem- ington emokel: shotgun = shells, $1.15 the box, ¢ ~ SAL ABA Che Casper Sunday Tribune Stocks Grain NEWS AND QUOTATIONS BY LEASED WIRE STOCKS COLLAPSE IN EXCHANGE TRADING Low Marks for Year Ch alked Up Against Many Leaders During Week and Prices Con- tinue Heavy NEW YORK, March 21.—Strength manifested in early trading of to: day's short ses#ién of the stock ex- change was broken down by a flood of selling orders later in the day and the closing was heavy at the conclusion of a week marked by col- lapsing prices. Several issues were marked down to the lowest point of the year, Sales for the day amounted to more than 800,000 shares. Receivership reecntly authorized for the Chicago, Milwaukee and St. Paul railroad and the sharp break in wheat prices were undermining factors in stocks. Operators on the long side were unable to attract a Public following with a result that rallies were short lived and with the exception of one.or two days’ prices witnessed a steady decline. Seventy per cent depreciation in quoted values from high levels of the year was recorded in St. Paul se- curities, although the receivership was characterized a8 a friendly ac: tion instituted to bring about a set- tlement of financial problems which Until Close. are expected to be corrected. Sharp reaction of the oil issues to repor f increased crude produc- tion and a decline in gasoline prices was ohly temporary, reports of a po by giant gusher opened in Mex the Pan American company and progress toward the transfer of the company's properties to the Stand- ard Oil company of Indiana proving bolstering factors. Other good trade news of the week included reassur- ing statements by Secretaries Mel- lon and Hoover regarding business conditions and the announcement that fr ht ear loadings were being maintained at recent high levels. Easing of red metal prices found Its reaction in copper shares, which fell off to new low values for the yea tocks which felt the full force of the market decline included United el, common, Baldwin, Mar- nnecott. Northern Pacific, preferred, An Woolen and Lac! conda awanna an MOUNTAIN STATES IN GOOD CONDITION NOW Oil Discoveries, Improv ement in Livestock and Agncultural Conditions, and Other Factors Due to Bring Good Times. BABSON PARK, Fla., March 20. 1925.—Roger W. Babson today is- sued another section of his: survey commenting on conditions in the elght Mountain States and their re- lation to the ofl industry, “Crude oil, gasoline and other petro'eum products are subject first of all to the law of supply and do- mand,” says the statistician. -ae. we had a constant supply, prices 0 up or down as the demand i{n- creases or decreases. But the sup- ply meantime is increased py new Wells coming in and improvéd meth- ods of refining and distribution. Owilfig to the increasing number of automobiles and the widening use for crude oil, the demand must also continue to increase for some years to come. Therefore, unless some much cheaper or more effictent method of refining is developed, the price can be checked primarily only by new oll fields being developed This is precisely what happens. The price goes up until it pays to devel op a new field, When such a new field ts opened up the price falls until the temporary surplus, which this new field produces, is needed and consumption again catches up with production, “Oil exists nearly everywhere, the only uncertain point being as to how far one must drill to get it out. In some nections—like Oklahoma which is producing an average of 500,000 fields are all busy. Surely Montana should have much better business this spring than has been the case for several years. “Wyoming—Recovery rather» un- even. While employment conditions are normal in Wyoming, the state has had sé many unjust difficulties in the past, its recovery must of necessity be rather slow. With a continued improvement in the live- stock situation, coal mining and oil, Wyoming should come back in good shape. The beet sugar industry continues to grow; the railroad 4 shops are bu fer feeling ex out the state, “Colorado—Trend fairly firm. The value of, Colorado's recent» wheat y; and @ distinctly bet- sts everywhere thru- Livestock BOSTON—Applications for build- MEXIC , Mo.—The Missout! Jow- | « ‘ PAGE NINE : All Markets [ BusmNess BRIEFS | BLET GROWERS RECEIVE BONUS er and Light company {s planning ing permits in Massachusetts cities | ‘0 spend aby ep Beers 5 100,000 connecting up all ‘its proper In February totaled $11,919,91 an ties in north Missourl. increase of 42.2 per cent over Jan- Retentions \ uary and 20.5 per cent over Febru- PORTLAND, Ore—Tentative plar 1324. fty-nine per nt of the | for a $2,000,000 hotel have been an- | total is for residential bulldings. nounced by the Portland Busin: 92 ree Associates The site has been ed for $450,000 Commodity (Copyright, 125, Casper Tribune) The plant ts expected to be finished by July 1 successive week have sold more lum: iness throughout Colorado. *** $75,000 Will Be Paid Out to Growers of Lovell District. Trade News March 21.—A one| proach o} cent reduction to 17% cents a gal-| improver " jon in the price of gasoline by the! shoes, particularly nen. Pra agin iF Richfield company, one of the larg-| tically all the Lynn pla ure | compa 1 on bonus that est independent producing refiners | operating at or near capacity, \’ mailed t growers of the in California, is expected to be fol: ehhh will to 000. The lowed by similar reductions by the Leather Goods. x t 1924 croy Standard, Shell and other large com-| tpica, N. ¥., March 21.— The | "25 $8 per t the s¢ National Association of Leather | °°4 4 1 ne one ai Po ea Glove and Mitten M rs has| ‘2r mac he profit sharing SHREVEPORT, March 21.— The} pegun placing of general consumer ntract which brings Skelly Oll company announced plans | advertising with metropolitan news ADEA ct, to $8 to build a $500,000 16-unit casing | papers and business papers throug po, the AOvRCae Head kasoling plane at Conenn, out the country as part of un elabo! Pr in the heart of the Smakover field additional pay ate sales stimu ed out for this year. tion program we week 207 more pic { beet land had been contract ; Rice. n was ed up at a corres Wool. oe oe 1 wa uF 5 corre PORTLAND, Orel, Mirch 91, —|, LAKE CHARLE = dal ch make Wool growers and’ buyers are gétting | —Charter att Acredg 5 crop al closer together at Pacific-Northwest | "5 ve . than at a time in prima points. Although no actual i me industry in this eastern Oregon sheep men are offers} for by the ox a a PT aM ing to sell thelr better clips as low | the ee rn as 40 cents. ation here E r $ te ere Sea oily be: MG UHAA Cee | Wanted to Buy ‘ | E Williams | 1 t >, ty eee See: Feneen Automobiles. | Consolidated Royalty 5 March 21.— Pacific! sew yori $1 te 5 NEW YORK, March 21.— 1} Jupiter coast lumber mills for the second |... = : | ales of the General Motors Elkhorn the first three.months of this Royalty Producers ber by three per cent than they pro-| year are estimated at 53 per cont of | Preston Oil duced. The cut the past week was]i)0 total enle A 48) Western States 104 million feet. Prices generally! i994 was 43: 1 Fy have held, though: some Atlantic] s99>, de. | Blas Vucurevich shippers have been offering parcel S | 208 Consolidated Royalty Actesunder the market. Farm Products. Telephone 166 EW ORLEANS, Marc See anand crop was 64 per cent over the pre-|erous rains this week hav iz “TE vious year. Although _ potatoes | ence Louisiana. fariners, en showed a decline, tuis was offset by | abling them to go 4 with plant $5 O78) R WwW d an increased income, from barley |ing which had been held. up. Rice, bed € ar and other prodvsts, 1 am getting; Sugar corn, vegetables and str Five dollars reward will be paid favorable reports on metal mining,| berries received the greatest benefit | ro the party Curnishing the Casper meat packing and the sugar and| from the Daily Tribune information teading flour industries from Colorado, Min- bo. the cabiure: of; bie Derepa ya bb, 16, ing 1s expecially Active at Cripple] | LAWRENCT March Be Perera ates eer peer Creek and Leadville and in the Tell-| (United Press) nsas relays, of the paper é¢hould nct pay any- uride, Idaho Springs and Boulder | first major outdo k event in| 5n5 thelr subscription except the Aistricts, Nemerous prospective oll| the middle west will be held here,|-arrler who delivers the paper or wells are being drilled in the Fort] April 18, according to track offictals}an authorized collector trom the Collins, Loveland, Longmont, Craig | at the University of Kansas. office If rou are not sure you are Pueb'd and Florence districts, The| This Is the third year for the Kan- ee ee gh Vr ae ge Fo hued completion of the Moffat ‘Tunnel,| ras 5 8 and they will be held in| {0 *how his oredentia iH > the building of new highways and|the new Memorial stadium. Last | t 4° 8 blease call the Tribune, the development of additional water | year more than a thousand athletes - power Is making for a good 1925 bus-|from a hundred widely scattered Telephone 1 5 schools attended WHITAKER WELL SPOUTS OIL OVER DERRICK The Paid Circulation o —_—— ' . DENVER iT SUBSCRIPTION RATES ISca Week Month NVER POS IN THE U. S.A, TEST NEAR FORT COLLINS TURNS Popvlatio fu 1925, Over a Millio barrela per day—the oll is compar: atively near the surface; in other 7p BY DEEPER DRILLING DENVER. WEDNESDAY. MARCH 18, 1925 | INTO GIANT GUSHER WEDNESDAY sections—like New England—the oil Is so deep that tt may never pay to q@rill it; while in the Mountain States of] 1s deep but drilling is now paying. Yor instance, these eight Mountain States are now producing about 100,000 barrels per day with oll prices very low . As oil prices advance, {ft will become more prof. {table to develop new fields {n Colo. rado, New Mexico, Arizona, and other states, and then a new big area will be producing. This will again force prices down until con sumption catches up again with pro. duction, “This means that it is Incorrect } to say that Oklahoma has more ol! | than New Mexico. Both may have identical cmounts, the difference les in the fact that the ofl is near the surface in Oklahoma and it | unnecessary to drill 60 deeply the case of New Mexico. I well r Member when only wells 1000 feet deep existed. Then the price of oll gradually increased, until it paid to drill 2000 fect. Drilling 2000 feet brought in an entirely new group of of! fields and production for awhile exceeded consumption, ac- companied by falling oll prices. As the demand increased, the price again rose until It paid to drill 3000 feet. “Drilling 3000 feet brought in other new fields and again, owin to the iucreased production, price fell. But the demand continued to Increase and again consumption caught up with production. Then oil prices again began to climb until {t pald to bore still deeper which brought tn a new field with another pertod of declining prices Such & period we have just been through But once again consumption has caught up and again prices are go ing upward. Moreover this upward movement will continue until it pays to drill still deeper—ray 5000 to 6000 feet. Such a time will soon come and then tho states of Montana, Wyoming, Colorado, Idaho, Utah, Nevada, Arizona and New Mexico will reap a harvest.” Commenting on general business conditions in these eight states, Mr. Babson gave the following details: “Montana—Trend fairly favorable. The metal, mining and general in- dustrial conditions report some im- provement; the wheat srop showed an increase in value of 64 per cent; and stock ralsers are feeling a little better. The copper districts are de- eidedly improved owing to the high- er price of the metal; while the lum- bering camps, sugar mills and oll ATL MORE — when the well rea drilling below 2,000 feet. age investor. is for a short time only. A. A. 711 17th St. ATLANTIC PETROLEUM CORPORATION'S COUNTRY CLUB NO. 1 DEEPEST DRILLING INDEPENDENT TO FAMOL WHITAKER AND VER STRATEN GUSHERS = ATLANTIC is right in the Big Money Play for QUICK PROFITS. ly announced that ATLANTIC stock will be advanced to 8 cents a share—or | The VER STRATEN and WHITAKER GUSHERS are estimated to be capable of producing 15,000 barrels of oil per day ATLANTIC PETROLEUM, owner of COUNTRY CLUB NO. 1, i strategic position and WONDERFUL PROFIT) now—PERHAPS MUCH MORE. Greatness of Colorado as Oil State Is Confirmed by Finding Great Pool When Deeper Sands Are Penetrated. Fort Collins, Col, March 16—The Whitaker well tore loon Wednesday, As tho tons of dyzatite far beneath the earth's surface wera suddenly touched off, w gigantic geyser of oll spouted from the b over the top of the derrie! A BARGA BECAUSE AT l’4e PER HARE | It is definite- {2 ches 3,000 feet. COUNTRY CLUB NO. 1 is now 10,000 to aver- from ch —stock in the company owning these wells is at a high price and out of drilling night and day and / POSSIBILITIES should be worth FIVE CENTS with its SHARB right We are authorized financial agents for Atlantic Petroleum. In buying from us YOUR money can be used by YOUR company as it is needed for development. WIRE, TELEPHONE or MAIL your order IMMEDIATELY. We will do our best to fill it, The 114 cent price ACT NOW—IMMEDIATELY, HALL & COMPA Members. Denver Stock Exchange, Denver Chamber of Commerce Telephone Main 4570 Private Branch Exchange to All Departments Pros. Dated 9-6-24, filed with Secrtary of State Denver, Colo. Copy on Reques ee