Casper Daily Tribune Newspaper, April 2, 1925, Page 10

PAGE TEN Oil : Finance INDIANA STANDARD ONE OF BUYERS OF DOHENY INTERESTS Pan-American Petroleum and Transport Con- trol Passes to Newly Organized Company; Stock to Be Exchanged. W YORK, April 2.—Control of the Pan-American Petroleum and rt company passed yeaterday from Edward L. Doheny, chairman the board, and members of his family to a syndicate composed of the banking firm of Blair and com pany interests, {dentified with the Chase banking group, together with British int Inverforth and the S pany of Indiana While th consideration ndard Oil com: was ented by Lord not stated, the new group acquires 501, 000 shares out of the 1,001,536 of the voting stock outstanding, the market value of which, based at a price of 76% is $38,326,500. members of his Mr. family held Securities company The new Interests have organized the Pan-American Eastern Petroleum corporation, which was incorporated in Delaware last Thursday, to hold the shares of troleum and Transport company, Doheny and this stock in the name of the Petroleum thus acquired. The authorized cap!- talization of the new corporation is 0,000 shares of preferred stock at $100 par value and 1,000,000 shares of common stock of no par valuer The new company also has ac- quired the stock of the British: Mexican Petroleum company, Ltd., which was for several years tmpor- tant as the European fuel marketing connection of the Pan-American Pe- troleum and Transport company. Half of this stock already was owned by the Mexican Petroleum company, a subsidiary, but under the reorganization plan the new Pan-American Eastern Petroleum corporation obtains the other half, which has been closely held by British interests. Mr. Doheny retires as chairman of the board of directors of the Pan. American Petroleum and Transport company but remains chairman of the board of directors of its Cali- Pan-American Pe-! fornia subsidiary, the Pan-American Petroleum company. New Corporation Formed To Take Over Wilson Co. 2 CHICAGO, April 2.—A new $119,- 000,000 corporation to take over Wil- son and company, packers, now in receivership, by sale under a federal court order, within four months is contemplated in reorganization plans, announced night and unanimously approved by repre- sentatives of all, groups of creditors and security holders. Under the plan the exchange of securities betwee and old companies will The ortgage six l remain ts of subsidiary companies aggregating $40,971,833, Holders of $13,671,190 of six per cent bonds and the $9,307,080 of 7% per cent bonds will receive six shares of seven per cent preferred stock, seven and one half shares of class A stock and four and three tenths shares of common stock, all for each $1,000 of bonds, Holders of the old $10,000,000 pre- ferred stock will receive one and one half shares of new common stock for each old share. Holders of old common stock will receive ir tenths of a new share of com mon for each old one. New Hotel Company At Sheridan Gets Charter CHEYENNE, Sheridan Hotel $50,000 of the Wyo., A company ded value apital 000 h rporation in ming seer ate H.} of 1 in the b nto of $10 € s of inc of the he Wy incorpo: Masses O'Marr 1, It is state 1corporat will a meetitng Other concer ters ide Camp cultural and capital ital stock », he Basi Fryberger apers elected at ril 6th tate cha —The Sheridan stoc Inn Club, no k, headquarters at’ Sh capital idan. c ital Casper ce Investment company, cap- stock $50,000, headquarters at shers Pharmacy, Inc., capital stock $5,000, dquarters at Cas- Denton company, capital headquarters at Wor- Converse County Fair association, capital stock $50,000, headuarters at Douglas. Home Finance company, capital stock $50,000, headquarters at Sh dan Public Properties corporation (Del- uware), headquarters at Fossil. (Copyright 1925 The Casper vil SAN FRANCISCO,- operations show 36 wells d, as with 24 the week before, | ing activities for the y date are considerably behi 8 The total star ‘ } TULSA, ¢ wells were 1 t SHREVEPOF welve operative im Assoc mpos the r ed compared two ye Farm Implements KANSAS CITY—Demana ricultural implements and continues extrem hea firm has exceede eason's nll ment of tractors by 200. Horse. drawn !mplements are In greater de Grain Al Tex t ar oats cror Tex Automobiles i DETROIT—The stor industry enters t r with an ‘ rn k fron ] Chevrolet and Over cnr 1 Export as well 1¢ ring in, Meats, CHICAGO t during Tribune) | age supply is elght or nine per cent Pork pite the ces con- ne in Livestock FORT WORTH.—J. E. Boogscott former head of the Texas Liveste ani comm n, commissioned ecently by the Republic of Haiti to mental \ has sailed for the h eattl eep and horses Jowelr sPHIA PHILAD Jewelers | report ary was 11.1 pe January but § for February tious and cc mediate — Wholesale business for Febru- cent above that for per cent less than 1924. Buyers are cau nfine purchases to im need —> [MONEY _— NEW YORK high, 4%; cle April 2.—Call money, 4%; low, 814; ruling sing bid, 314; offered 3%; call loans against time easier 60-90 46 prime tal ptances loans, days, 4; comme Materal, 4M; SUGAR NEW YORK, April 2.—Refined ugar continued quiet and un hanged at 6.80 to 6.00 for fine ranulated. Refined futures, were minal, Se LIBERT\ BONDS NEW YORK, April 2.--Liberty bonds closed. 8%8, $101.11; second $100.27; first 444s, $101.25; second 4 $100,381; third 4%s, $101.18 |fourth 44s, $101.31; U. 8. govern tae, $104.29 — Allis C! New York Stocks Last Gale ii Bonds DUMB DORA---MORNING, emical & Dye American American Car and Foundry American Amer American n Can Locomotive Sm. and Ref. Sugar Water Works American American Tobacco American American Woolen Anaconda Copper Atchison ~___-- Atl, Coast Line Baldwin Baltimore and Ohio Bethlehem Colorado Fuel i go Locomotive eel lifornia Pet. . Pacific Leather pfd. de P ndler Congoleum Consolide Corn Products n Crucible P Davison Du Erie Famous Playe: Pont Oil Steel ba Cane Sug: hen de Motor ake and Ohio and Northwestern_-. g0, Mil., & St. Paul pfd ‘Tel. and Tel. .. YES SIR, CON), 1 KNOW JOST THE CAR YOU WANT— IF THE OWNER WILL SELL. I. and Pac. ~ d eneral Asphalt Blectric Moto orther Gulf States Steel mn Ol . Hudson Motors — Illinois Central — Int, Harve - Int. Mer. Marin Kennecott Copper Leh Louisville and Nashville — Truck - Marland Oil! Mac 3 Maxwell Mex Mo., Montgomery Nat. Va Mot Seaboard Oil 2 Kan Missouri National New N,°Y., Y Norfolk Pan American I Pennsylvania ~ Phila and Rdg Phillips Pure R Re: st. I nolds ou ding - Rep. Iron and Steel — Tobacco leaboard Biscuit - Lead . le n pid. and Texas . Pacific ptd. War Cent 1 d and Western ~. rth American nF >it Air Pacific Sears Roebuck ~ lo inclair « Sheff. Southern F Southern Standard Oil, Cal, a. Standard Of), Stewart Warner — Studebaker ~ Aacebes Tobacco Tra Uni ns Union nm Steel citi Rallwa: xas and Pacific Line Products nt Pacific ted Drug -. t ol B suis and San Fran. and Hartford. 118% 150 113% ved 4045 140% oA a4 34% 20% 54% \3% 4h 31s 91% 19 say 100% 84 60% Che Casper Daily Cribune THANKS, WALT. LETS LooK 1T OVER. Utah Copper Wabash pfd, A Westinghouse Electric Willys Overland ~~ Woolworth WYOMING OILS (Quotations by Bi Broker) 208 Consolidated Royalty Bid Western Exploration ~ 2.85 Consolidated Royalty - 1.06 Ceneral Pipeline E, T. Williams Bessemer —_-.. Western States Kinney Coastal Columbine Jupiter ~ Elkhorn Domino ~ Royalty Salt Creek Producers Continental ~~ New York Oil Salt Creek Cor 8. O. Indiana — Big Muddy ............... Mule Creek Sunburst - Hamilton Dome @erris Byron ~ Notches . Pilot Butte Lander . Cat Creek. .. Lance Creek Osage Grass Creek, light -.... Torchilg ht Elk Basin Rock Creek Salt Creek POTATOES 48c; firsts, 4015 @4114; 38e. Eggs, unsettled: cases: firsts, 2844 @28\%c; firsts, 2 storage pack ext Gave; ti ———_.-——__ Poultry, CHICAGO, April 2.—Pou higher: fowls Sle; springs 19; turk ube je lic, Stocks NEWS AND QUOTATIONS BY LEASED NOON AND NIGHT. Vucurevich, Sunset — Picardy ~ 01 02 Atlantic Petroleum -.. .01 .0114 | Great rthern — 001 00% Quaker Oil ~ 01 Preston Oil — 0013 Curb Stocks. Mountain Producers - 1% CRUDE MARKET, Greybull . --.---.---------.. 4.00 teen nee 2.00 CHICAGO, April 2—Potatoes trad ing light; market dull and unsettled with few sales, receipts 54 cars: to- tal U. S. Shipments 802; Wisconsin sacked round whites @%0c; most ly around 85c; fancy 95@$1; Minne sota sacked round whites 80@S5e Minnesota and North Dakota sacked red river Ohios mostly $1@1.05. CHICAGO, April 2.—Butter, high er; creamery ext 43% @43%. Standards, 48c; extra firsts, 4244 @ seconds, receipts, AVERY, MR, VIVIAL 1S LOOKING bal FOR A CAR. SHOW HIM YOORS Bldg. ‘Ask 3.00 1.08 et Grain TIMMIE DEAR, UAT, DATE SHOULD © WE SET FOR OvR _ . WEDDING? GASOLINE ALLEY — EVERYBODY IS WELL, 'M NoT ANXIOUS TO SELL BUT ILL STOCKS FALL OFF IN PRICE Irregular Opening Is Fol- lowed by Downturn at New York NEW YORK, April. 2.—Stock| prices moved irregularly lower in to- day's remarkably quiet market. Re- newal of selling was inspired by the breaking in grain prices, a cut in the Great Northern Ore dividend, additional crude oil price cuts and speculative disappointment over the Wilson and company reorganization plan. ‘Total — sales 1,050,000 shares, approximated NEW YORK, prices displayed considerable irregu- larity at the opening of today’s mar- ket with most of the standard in- dustrials showing small fractional recessions on initial sales. Wilson and company preferred broke four points on the announcement of the reorganization plan, The Pan- American issues also lost ground on the announcement that control - 10 ‘had passed from the Doheny family, 33@ 14,372 ordinary ras, 30% le the A stock dropping 1% and the B 1 Mack Trucks opened a point higher. The market turned heavy soon after the opening with sharp reces- sions taking place in some of the high priced shares. United States Cast Iron Pipe dropped four points and General Electric 2% while American Can, Baldwin, United States Steel and Brown Shoe fell back point or so. American Woolen dropped one point toa new w for the year at 36% and Great Northern Ore touched a new bottom price at 4 off 2%. Wilson pre: ferred extended Its lo: and the to six points preferred certificates dropped S. Kresge soared 22 points Commercial Solvents B ad- vanced 2'% and Pittsburgh and West Virginia and Loulsville and Nash: vil h sold a point higher. For- eign exchanges opened easy, demand sterling selling around $4.77% and French frances at 5.17% cents. Prices crumbled away rapidly as selling pressure was renewed gainst speculative leaders. ‘The t decline took place in stocks had lately scored brisk re- which coveries, indicating that recent short covering ed wo not being supplement- by fresh buying. *Call money rates were lowered but this influ ence was offset by a drop of six cents a bushel in May wheat. Specu- lative disappointment over the terms of the Wilson and company reorganization resulted in a break of 7% points in the preferred stock while Great Northern Ore declined 5 points on declaration of a $1 divi a Call money renewed at 4% per cent and then dropped back to four. Buying of Mack Truck and the oils caused prices to harden for a while after midday. Mack ‘Truck rallied from 133% to 1384, on rumors of larger dividends on a re Pitalization plan. Pacific Oi and idard Oil of New Jersey moved one. Goodyear preferred 3% Nash Motors 9%, to 309%, a figure, Later heavy selling American Can which went to ed sympathetic heaviness up and record other leaders, S. 8. Kresge, which | 1 ut 397 eurller, dropped to 380. I ‘4 stead Short i et ubout a sharp re Livestock THURSDAY, APRIL 2, 1925 :: All Markets WEDDING!! WHO SAID ANYTHING ABOUT GETTING MARRIED? WANT THE FONNIEST, OF A LIZZIE 1 CANY the late trading, Baldwin wiping out its early loss of nearly three points and United States Steel common and American Can rallying a point trom their low prices of the de GRAIN PRICES CRASH AGAIN Widespread Rains Bring Re- lief from Drought and Bear Market * CHICAGO, April 2.—All grain un- derwent severe setbacks in price to- , as the result of widespread rains that relieved drought over large areas southwest and west. Wheat values were especially af- fected, and the May delivery of wheat dropped at one time to 64 a bushel lower than yesterday close. Heavy selling of wheat here was further accelerated by an un- expected downturn in what quota- tions at Liverpool. Chicago opening prices, which ranged from 1% to 4%c lower, with May, $145% to $1.47 and July $1.34 to $1.35, were followed by an irregular descent to $1.43%, for May and $1.324¢ for July, Subsequently additional breaks In prices carried the market down to for May, extreme drop of cents compared with yesterd 8 finish. Reports of financial trouble in Italy were current, and export de- mand was poor. Lowest prices were i near the end of the 4 s nervous, 4\c to 64 4 to $1.43 and The net low July $1 1 oats gave way owing to with whe After open ing at Me to 2%¢ May, $1.021 to $1.0 the corn market fell to $1.01%, May. Oats starte % to Je lower, Me to dic, and con tinued downgrade, Later the pressure to sell in creased, and for the first time in months, the market went under $1 a bushel, May deliy The bottom ces of the day came just at the Corn’ closed heayy, to be net lower, May Provisions at 98% first 2 to id anced as a t market result of higher prices on hogs, 1 Provision grain, W the i, influenced open 14 wever, react Wheat— May .... July Sept. - 128 1,29 by High 1 8% 98% | 1.03 “TOUCHY ABOUT SOMETHING So eee THINIG! THE ELKS ARE HAVING A BORLESQUE -—{ PARADE NEXT WEEK AND | DILAPIDATED OLD RATTLETRAP 4 WOW DARE Vo | MY HAND IF YOU'RE iu NOT SERIOUS ?! Crc8 Hz WHY, simi? "\ Sa © 1925 Premier Syndicate. Ine Great Britain rights reserved BELIEVE ME,1 TOLD THAT )\ BIRO WHERE TO GET OFF: | ES) THEY CAN INSOLT ME IF ES THEY WANT TO BOT THEY EA CANIT INSULT MY CAR! MosT BUSINESS BRIEFS PHILADELPHIA — Classifying trade into 39 divisions, the Federal|iness men and rallroud heads have Reserve bank reports conditions|agreed on a plan for constructing fair in twenty-six, good in ten and|two more central viaducts over the poor in three. The poor are bitum- | downtown railway tracks as part of {nous coal, woolen and worsted | a $20,000,000 traffic relief plan. goods and yarns. LIVESTOCK ATLANTA Ga.—City officials, bus- beef steers, steady to strong; two loads 1,402 pound weights, $10. freight paid; most other classes, $9.25 to $10.00; fat she stock, strong to 1bc higher; several loads cows, $6.35 to $7.00; several loads heifers, Chicago Prices. 39.10; calves, strong; best vealers, CHICAGO, April 2—(U. £. De-| $12.00; other classe partment of Agriculture).—Hogs—|- Sheep — Receipts, holding 15,000; 20 to 30c higher; packing|fat lambs, steady to few sows show less advance; slaughter | opening sales, steady; two loads > pigs, 25@50c higher; top, $13.55;| pound ay 0 to shippers. bulk desirable 170 to 230-pound av- erages, $13.30@13.50; bulk packing sows, $11.85@12.1 Packing hogs, smooth, $12.10@12.35; packing METALS hogs, rough, $11.65@12.10; slaughter $11.25@12.75. Cattle. — Receipts, 8,000; fed steers and yearlings, steady to 15c higher; weighty kind, scarce, show- ing most advance; trade slow; buy- ers resisting; sharply higher, ask- ing prices; killing quality consider- ably plainer than Wednesd: top Weighty steers, $11. verage Weight 1,536 pounds; few loads scal- April 2,—Copper, spot and futures, NEW YORK, steady; electrolytic 13% @13%c, Tin, easy; spot and nearby, $ futures, $52.1 Iron, easy; No. 1 northern, 0; No. 2 northern, $21.50@ southern, $20.50@21.00. 09; oo mn) easy; spot, easy; Bast Ing, 1,600 to 1,600 pounds, $11.50 to| Louis spot and futures, $7.05 $11.75; best yearlings early at $12.00;| Lead, ste: spot, $8.50, she stock, strong; spots higher on better grades fat cows and. heifers: Practically no change on bulls; few heavy bolognas, $5.00; vealers, Antimony, 0G 14 un- even; light kinds at standstill; bid-} ° ding, $9.50 downward; od to $12.00 to $13.00. | Sheep—F eipts, 14,000; fat lambs | mostly steady; ;ood handy weights, | $15.50 to $1 choice —86-pound | EW YORK, April Vour di Weight, $16.00; best hela tors of the Ho 2 Oil company of welghtier kinds, $14.25 to $15.00;] Texas have re igned g protest choice 111-pound clippers, $10.2 ainst the company’s policy for. er ging in the natural gas bus H, B, Lake and Don 1 Geddes New York members of the bourd ar mong those who haye withdrawn. Omaha Quotatio: OMAHA partment celpt active higher; good and chotce . 8. De- fogs— mostly : f 5,000, pound butchers, $12. top, | F E h $12.80: desirable 160 to 200-pound weights, 312 60; bulk oe all oreign xchange ales, $12.3; —_— Cattle—Receipts, 4,200; fed ate 2 YORK, April ?.—Foreiz and rlings, actiy rong to exchanges, ste: Quotations in higher; mos’ up; bulk, | cents t Britain, demand 4775, @ 10.75; ds upward to | cables, 477%; 60 day bills $11.00; weigh averaging France, demand 1,508 pounds, $11.15; canners and | 519%. Italy, demand 1.40%; cables, cutters ki Veal, steady;| 4-114. beef bulls high bologna aS bulls, slow; steady; stockers and} f rs, scarce, steady; bulk but cher ex heifers, ¢ COT TON canners and cutters, bologna bulls, $4.00@4.5 3 z beef bulls, $ 6.50; practical veal NEW YORK, April 2.—Cotton top, $8.50; cholce kinds to indepen. | SP aulet; middling, $24.90. dents, $9.00. — heep—Recelpts, 4,500; lambs, 25 | Cash Grains and Provisions. @50c higher; fed wool lambs, $1 CHICAGO, April 2.—Wheat—No @16.00; fed clipped, $11.00@12 4 hard, $1.44. native springers, upward to $18.00: |. ‘ -No. 3 mixed, 9814 @99er > sheep, 26c higher; ewe top, $y.50: | 7) Yellow, $1,034 @1.04. feeding and shearing lambs, strong: | /Oats—No. 2 white, 44@44%jc; No. shearing lambs, upward to $15.00, ie white, 41% @42%c, — | Denver Pric | DENVER, Colo.. April (C. 8] Department of Agriculture,)—Hos | —Receipts, 2,400; market the to higher; top, $13.00 paid for cholce| re vy butchers; bulk: other offerings 12.75 to $12.90. ate $10.4 ight lights, $11.09 to sy, #1260! ry the 1 Store If you have Ing Ro wteady, $11 fat pi Ys ae 17.07 17.07 WAG 17.17 a ---- 20.00 July 22. 19.50 19.85 DULUTH ae 2.—Clore flax: April, $2.07; May, $2 July $2,08% in 03; September, 9.23; De und in the pivotal industrials in $11.00 to $11.60 . result ‘ ep Clussl Cattle—Recelpte; 11100;, caly or results try 4 Tribune C 100; ted Ad,