Casper Daily Tribune Newspaper, April 5, 1925, Page 9

SUNDAY, APRIL 5, 1925 Oil : | Finance : COLONEL STEWART. IS MAN BEHIND GUN IN STANDARD Purchase of Doheny Corporation Engineered by Chairman of The Board of Directors, ROBERT T. SMALL, Casper Tribune) YORK, April 4.—The big figure in the blg oll deal fs a big man—almost big enough to rank with the giants of the Coolidge cab- inet. There are conflicting reports down as in Wall street as to the meaning of the vast transaction in which Edward L. Doheny, storm center_of the oll scandals in Wash- ingion a year ago, sold out all his Mexican and South American hold ings to a syndicate headed by Col- onel Robert W. Stewart, chairman of the board of the Standard Oi! of Indiana, But there is general agree- ment as to who engineered the deal It was Bob Stewart, of the Standard of Indiana, already rated as the greatest producer and seller of gaso- line in the world. Colonel Stewart is a man of mas- sive physique. He is big enough to play center rush against Attorney General “Garry” Sargent, who stands either six feet six or six feet three—there is a discrepancy of three inches in the reports of the sur- veyors. And Colonel Stewart was a football player in his college days, tog, though it 1s not recorded that he’ever fell on a football and ex- ploded it. Colonel “Bob” Stewart is an in- teresting figure because he repre- sent# among other things, a new trend: He is the lawyer in industry. One hears much from time to time of the ofl driller or rigger or pros- pector who comes to head a great petroleum combine. But Bob Stewart, up to the time he became head of the colossal Standard Oi! of Indiana, had never had a day of practical oll ‘experience. Modern industry is becoming more and more compli- ted. It 1s coming to have more and more dealings with courts and governments and the lawyer who can steér the craft clear of all legal reefs and rocks has the chance at last to become more than a mere adviser. The highest of the executive posl- tions are open to him. Colonel Bob went with the Stand- ard of Indiatia as general counsel. He was imported from South Dakota to Chicago for the job. That was as recent as 1915. Several years later the lawyer from the plains was made chairman of the board. Now ordinar- ily the chairman of the board of a big corporation ts a man grown old in the se@ice and promoted from the 1925 OIL DEAL Interests by Indiana presidency out of active work. In the Standard of Indiana the chatr- man is the whole works. And as for activity, well Colonel Bob is given : Bonds New York Stocks Last Bale By Blas Viecurevich Allis Chemical and Dye ~. American Can American Car and Foundry American Locomotive American American American American American American Woolen -. Aanaconda Copper -. Atchison Atl. Coast Line —. Baldwin Locomotive Baltimore and Ohio Bethlehem Steel . California Pet. Canadian Pacific — Central Leather pfd. -. credit for starting and finishing this entire Doheny deal. Born in Iowa, Colonel Bob went to South Dakota to fight for success in the new country, He went to law school of Yale university. He was struggling along at the law out in Dakota when the Spanish war hap- pened along. It also happened that Leonard Wood and Theodore Roose- velt were organizing a regiment of “rough riders." That suited Bob Stewart down to the ground. He en- listed as a private. His success in the regiment was instantaneous. He could ride and he could shoot; he could fight and he knew nothing of the hesitation which, in the soldier, is fatal. He was another Fighting Bob, ready for a fight or a frolic. Needless to say, he made a great hit with “T. R." and when the war was over, Bob Stewart was wearing the insignia of a major. Returning to South Dakota he was asked by the governor to reorganize and preside over the national guard of the state. That is when he got his title of col onel, which has stuck to him eyer since, While out in Dakota, Colonel Stew- art served as state's attorney, as su- preme court reporter and as member of the state senate. His law business prospered. Many corporations sought Cerro de Pasco ... Chandler Motor Chesapeake and Ohio Chicago and Northwestern _- 544 Chicago Mil. and St. Paul pid 8% Chicago, R. I. and Pacific — 42% Chile Copper ~ 3235 Coca Cola 92% Colorado Fuel ~. 33% Congoleum -. 36% Consolidated Gas 78% Corno Products - 38% Crucible Steel - 67% Cuba Cane Sugar pi 57% Dayison Chemical ---.-. 34% Du Pont de Nemours General Electric .. General Motors Great Northern p Gulf States Steel Houston Oil Hudson Motors Ulinois Central Int. Harvester .. Int. Mer. Marine pfd. Kelly Springfield ~. Kennecott Copper Lehigh Valley oS Lonisville and Nashville Mack Truck ~. Marland Oi! .. 111% his services. Among them was the Standard of Indiana, The Internat- fonal Harvester was another. The end was inevitable. Colonel Bob was gobbled up by the awful oll cyclops. And today he sits In one of the seats of the mighty. Reared away from Wall and State streets, Colonel Bob imbibed some progressive ideas out there in the purple west. He took these {de: with him into the Standard. He be- lieved in popular ownership and that is why under his chairmanship the number of stockholders in his company has increased from 4,500 to 60,000, He also has put into ef- fect an industrial plan whereby the employes of the company haye a voice in the matter of wages, work- ing hours, conditions and everything affecting their welfare. More than 15,000 employes of the compey are stockholders. Colonel Bob {s not an oil man ef the old school—he is the approved model. STOCKS IN STRONGER DEMAND IN WEEKEND Grain Market Unsettlement Ignored in Come- back Staged During. Closing Days of Week; Oils Gain Ground. NEW YORK, April 4.—Ignoring further unsettlement in the grain market, stock trading was strong at the close of the week with motors, * olls, public utilities, steels and equip- ments on the upgrade in today's short session, sales for the day amounted to about 450,000 shares, the exchange of which reflected new optimism over business and in- dustrial conditions. Reaction which set in during the early days of week carried many stocks to extremely low levels, the total loss in values being estimated at a billion and a half dollars, but irregular recovery brought some {s- sues back !n improved demand, Forced liquidation of holdings con- tributed to tho decline but was com- pleted with the upturn in values. Reports of decreased mill opera- tions and declining metal prices ught about dey ons in. the steel shares while during the first half of the week oils were in easy supply as a result of further re- duction in crude prices. This situ- ation was offset later by reports of decreased production and sale of the Doheney interests to the Stan- dard Oil company of Indiana, Bullish activity in the motor shares, reflecting Wall street's con- fidence in the motor industry, marked announcement of the sale of Dodge Brothers, Inc., to a banking syndicate at a reported consideration amounting to $175,000,000. Improved earnings statements were reflected In prices for the copper shares. American Woolen reached a new low for the year as a result of unfavor- able conditions In the textile indus- try. Reésation falling off in car load- Ings was interpreted as a bearish factor in rails SAVING is the sure way to get money. It always brings results. Accounts paying com- pound interest can be opened with this bank for deposits of $1 or more. The Stockmens National Bank AND First Trust & Savings Bank Combined Capital and Surplus $225,000.00 Max. Motors A --.. Mex. Seaboard Oi Mo., Kan. and Tex. --. Missourt Pacific pfd. Montgomery Ward .. National Biscuit ~--.. National Lead -.. New York Central N. ¥., N. H. and Hartford -. Norfolk and Western — Mid-Continent Pet. Pan American Pet. B -.----. Pennsylvania .. Phila and Rdg. C, and I. Phillips Pet. . Pure Ot! Reading -----~. Rey. Iron and Steel .. Reynolds Tobacco B St. Louis and San Fran. Seaboard Air Line Sears Roebuck - Sinclair Con. Sloss Sheff Stee! Soyithern Pacific -. Southern Railway Standard Oil, Cal. Standard Oil N. J. -. 42 Btewart Warner -. 60% Studebaker Corporation --. 44% Texas Co. Texas and Tobacco Products ~----s-----5 73% ‘Transcont Oil 4 Union Pacific -. + 140 United Drug -- 17% U. S. Cast Iron Pipe -------- 167 U. &. Ind. Alcohol -----. U. 8, Rubber .-. U. 8. Steel -.. Utah Copper Wabash pfd. Westinghouse Electrio ~---.. Willys Overland Woolworth WYOMING OILS (Quotations by Blas Vucurevich, Broker) 208 Consolidated Royalty Bldg. ° Bid Ask Western Exploration - 2.85 3.00 Consolidated Royalty — 1.07% 1.08% Central Pipeline ----. .55 .60 B. T. Willams -—--- 1% 14 Bessemer ~..-«. a AS 18 Western States = 10% 11% Kinney Coastal = 07% 08 Columbine - OF 08 Jupiter - 96% - .07%5 Elkhorn 03% .04 Domino -05 06 Royalty Producers ~ 04% .05 Sunset ..... 1% 01% Picardy ~ ne Ol .08 Atlantic Petroleum -.- .01 01% Great Northern -. 00% 00% Quaker Oil - 00% 00% Preston Oil ---------- .00% .00% Curb Stocks. Mountain Producers .-.. 21% Salt Creek Producers ~.---.-- 27% Continental -nneu-eencnnneee 24% New York Ol] -..--------.--. 9% Salt Creek Consolidated .--. 8. O. Indiana CRUDE MARKET Big Muddy ~---------—-----0--= 3,00 Mule Creek 1.26 Sunburst --es-n---ee: 1.40 Hamilton Dome 1.06 ferris ~ LOB Byron .~.-. . 1.80 NOtChe® = -n-cnweenennemnncceee 66 Pilot Butte ~----------—----ee~ 1.35 LENDET + ennveenenmenecnmences -10 Cat Creek -coneeenwnennncnnoe 2.15 Lance Creek ------e-enene-oe 2,15 Osage ownenanneceeccwere 2.15 Grass Creek, ght --------0r-- 2.15 FreydUll ~ ---n-=+ enn 2.60 Torehitght . 2.00 Qik Basin ... woceee 2.15 Rock Creek ~-.--------------- 2.00 Salt Creek ne 1,60 The vocal chords cf the eat are more Ike those of man than dre tha yocal chords of «ny cther animal. Che Casper Sunday Cribune PAGE NINE Stocks Statistician . Believes L BABSON PARK, Fia., April 4.—| Roger’ W. Babson today completed his survey of national business con- ditions with a discussion of the Pa- cific coast, its present situation and its future. “A few days ago William G. Mc- Adoo visited me here at my winter offices," says Mr.-Babson. “With him he brought John Skelton Wil- ams, former comptroller of the cur- rency. Mr. McAdoo {s from Califor- nia and Mr. Willfams is from the South, They are both enthusiastic about the future of their own sec- | up the question as to which will develop the most rapidly, the fat West or the South? “As a boy shows a greater per- centage of growth than a mature man, it is only natural that certain new sections of the South will grow more rapidly during the next few years than will the Pacific, coast, since the latter has already had such & great growth during the past 20 years. The development which the Pacific coast has enjoyed during the past decade will bo witnessed in the Carolinas, Georgia, Florida and the Gulf states during the next decade. While the South will benefit from its climate, natural resources and trade with Latin America, the Pa cific coast will likewise benefit from these three and other factors. In addition the Pacific coast has the advantage of trade with China, India, Japan and the Far East. People who have not visited China and India fail to realize the hun- dreds of millions of people there who lie dormant only awaiting to be awakened. When these people finally arise from their slumbers, they will become tremendous con- sumers of American goods. We then will see the Pacific Ocean take the place of the Atlantic Ocean as the center of the world’s trade. The latent possibilities in the Orient are beyond the realm of statistics to portray, All three of these Pa- cifle coast states will benefit great- ly from thia Oriental awakening. The great financial and industrial undertakings in the Orient will be launched from the Pacific coast, an@ I belleve that ultimately the largest Amerjcan city will be in California, Washington or Oregon. Already Los Angeles has become the second port in America, considering both coastwise and foreign trade; San Francisco has the finest harbor in either North or South America; while Seattle is nearer China than either of these other two cities.” A summary of Mr. Babson's con- clusion on these three states is as follows: “California—Turn for the better after an interval of quietness, Business in California is as good as ever, and bullding ia more extensive than usual this season. Highway construction is also holding up and there is no more unemployment in California than in other states. Most sections of the state claim a good tourist business, notwithstand- ing the disappointment which many tourists had last winter owing to the snows and general cold snap. Statistics, however, do show that the increase in the tourist business from year to year has been slightly retarded during the present season. This may be due to the fact that the people of the country have not as'much money to spend as former- ly, and it may be due to other causes. It also should be remem- bered that the great financla} boom which California has had during the past few years has largely been due to the ofl eltuation. Owing to the recent low price of petroleum, new wells are not being driven as they have been in the past, and some wells have been shut down. There- fore, California {s not now receiving the huge sums for oil that it re- ceived during previous years, al- though even now about 500,000 bar- rels a day are being produced. Most of California’s business: barom eters average about the same as a year ago. For almost any other state, this would be very satisfac tory; but unless Californians are showing an increase every year and every month, they are not satisfied. Although fundamentally Los An- eles still shows a greater percent- tions, and their discussion brought | eo eo Grain NEWS AND QUOTATIONS BY LEASED WIRE BABSON IS BULLISH ON PACIFIC COAST: argest American City Of Future Will Be in Far West; Reasons Are Explained. age of growth than San Francisco yet compared With a year ago San Franelsco is showing up slightly bet ter than Los Angeles in amount of business. Of the smaller cities Bakersfield, Santa Barbara and San Jose make a falrly favorable show- ing. : “Oregon—Some recession still ap- parent. In common with some of the other Pacific localities, Oregon shows some let-up in the marked ac- tivity of the past few years. This, however, is only healthy and nor- mal, as the accelerated growth | which the « assed can not continue indefin Notwith | Standing this let-dc | still very active in tions of the state. only to highwe trial and residential building. Prob- ably Oregon and Washington show | the greatest per cent of the indus- trial building of any of the states in the country. All plants are be- ing operated and a large number of mills and factories are running on fairly active schedules. Of all the cities in Oregon from which figures a ailable, rs' up best Most of econ cities are not up to nor- building own, nearly all sec- This applies not y work, but to indus- is mal, The value of new building 1s running very much ahead of nor- mal, but postal receipts posits and retail holding their own, “Washington — Recent dullness gives way to moderate improvement. Washington, like Oregon, is still prospering from large building ac- tivity. Moreover, this includes in- dustrial and residential building, with not so much speculative build ing as has been true in other sec- tions. Unsettled weather condition sales however, have recently caused # shut-down in certain projects, and a slowing-up of work on others. There seems to be more employment in Washington at the moment than in either California or Oregon. The lumber districts, however, are still busy. Of the principal cities of Washington, Tacoma is showing up best statistically compared with a year ago, although Seattle shows al- most as great a gain, All of the citles of the state from which nave reports show an aver about 7 per cent below normal. This means that Washington ts run- ning just about the same as Call- fornia with Oregon somewhat less. In compiling these statistics I take the following factors into consider tion; building, postal receipts, bank deposits, newspaper advertising, gasoline consumption, new car sales, retail sales, wholesale sales, electric power consumption and help want- ed. I also consider the general in- crease in population. This is excep- tionally good in the case of these three Pacific states, which show an Increase in population of 26 per cent over ten years ago compared with an average increase for the entire United States during the same pe riod of only 15 per cent. Roughly, 1 estimate that today California has a Uttle over three million; Washing- ton one million four hundred thou- sand, and Oregon eight hundred thousand people, In addition to the agricultural and other products, Cal- {fornia’s industrial annual output equals about $2,000,000,000; Wash ington'’s about $800,600,000, and Oregon's $370,000,000, In concluding this section of his report, Mr. Babson made the follow- ing comment as to American condil- tions as a whole: “Considering all lines of industry, and all sections of the country, con- ditions certainly average up better today than they did a year ago. This is shown statistically by the Babsonchart, which today stands at 6 per cent above normal, compared with 1 per cent above on January 1, and 6 per cent below normal a year ago. It, however, ts true that the stock market is one of the fac tors making up this chart, and is doubtless responsible for its recent high point. Were {t not for the high stock market prices, the Bab- sonehart would probably be just about normal at the yr sent ti | | and possibly it might be a little be- | low normal although only a little. Thus without the stock market, the other factors making the Babson chart would average up better than at any time during 1924," Atlantic Petroleum Is Making Time on Test In Fort Collins Field Atlantic Petroleum corporations Country Club No, 1 in the Fort Col- Mins off field ts now drilling night and day below 2,250 feet. The log of the well checks closely with the two gusherse—he Ver Straten and Whitaker wells of the Union Oil company of Callfornia, which are now on dally production at 4,502'% feet and 4,497 feet respectively. The two big producers, capable of doing from 10,000 to 15,000 barrels of of] per day, it is reported, are on the same structure that Atlantic is drilling. Both wells are attracting the attention of the oil world. Their Pressure production proves so oll men claim, the sureness of a great field at Fort Collins, second only to the famous Salt Creek field in Wyoming. “The extent of the Fort Collins structure ts not known yet" says V. E, Stanley, field engineer for At lant{c Petroleum, “but the two Union wells prove the field conclu. sively. “Its boundaries will be defi- nitely determined by the independent companies now making field tests {n all directions from Atlantic Petrol eum's acreage. “We are in the big money play on top of the structure and the log of the well thus far shows that the established field markers are encoun- tered by Atlantic higher on structure than in the known wells in the field thus for. Atlantic is right ontop of the dome, according to my pec- sonal opinion, and Country Club 1 is going to be a big well.” ph ted acts Experiments have shown that a firsteelass violinist can make any thing up to 600 separate movements with his fingers during one minutes playing: Livestock |Grain Decline Halted In aturday Short Session, As Prices Turn Upward |, CHICAGO, April 4 covery in pri from 10 to 17 featured te of the grain exch tial gains recorde of wheat, corn an closed the wee at $1 from fe for th while M at 95 cents and July Havoc in values « major portion of week, t cipal factor in the decline t ending of drought conditions \ had threatened ‘the wheat crop in|; large areas, Urgent selling was in evidence the market cont | {ts decline but the break | were considered & any t natural reaction to soarin In order that those who drive cars to work may be spared the dan- ger and inconvenience of parking | cars against the curb for a atime without downtown: par Ind the L be kno’ und c who was f been opened in the Henning Hotel. It w “Pete's Auto Park” @d by “Peto Himselt” merly connected with the Van Sant | Motor Co. Here the cars will have complete | protection from collision or theft | and will be serviced and repaired | while the owner ts at work if desired. Peto” is an expert mechanic and Is well able to care for the mechanical i's of any make of car, The park. ing station has two entrances and two exits and should trae- | tive to a number of local men, USTIGE COURT. BUCKETS FULL That Casper who are now wo: month, are busy glance at the prove ¢ busines were granted when requested, and one of the civil cases, which took up most of the morning time, was de cided and judgment rendered. Six cases a set fe Monday morning, usually the smallest day of the week. Tho justiée found for tiff in the case of Saran the plain- and I M. Babb vs. Louise Ha suit for | posseasion of the Berry Rooming | house, The plaintiffs claimed that the defendant, to whom they had | sub-let the rooms, had failed to pay | th» rent and had refused to vacate The judgment authorizes the plain tiffs to re-enter and take po: sion. | Start Your Chickens Right SEE US FOR Chick Mash Chick Food Growing Mash Laying Mash Henscratch Poultry Fattener Noland Brothers HAY—GRAIN—FE Bast ¢ ne WE DELIVER 728 Salt Creek Busses Leave Casper, Townsend Hotel 8a. m. and 2:30 p. m. Leave Sali Creek 3a. m. and 2 p, m. Bus Leaves 2:30 Dally Salt Creek Transportation Co, jet AND EXPRESS TELEPHONE 1i4 — $5.00 Reward Five dollare reward wil be paio | to the party furnishing the Casper Daily Tribune information teading | to the capture of the person who Is | fraudulently collecting subscriptions from ‘Tribune subscribers Patrons of the pa should oot pay any on? thelr gubserty ept the carrier who deliv aper oF An authorized collector from the office. If rou are not sure you are paying the right collector, ask him to show his credentials. if he can @ call the Tribune. not do so ple Telephone 15 NEWPARKING © GROUND OPEN the Peace H trennan for yesterday mor n civil cases | i and ono bearing were set for the | forenoon, Continuances, of course, | :: All Markets idl foe ob Watson Radio | Shop to Give a2 Angler Prizes} | ‘The Watson Radio shop anounces apcunintas | that It will give prizes to the de , cotipled with lv ak Walton who exnibte ican tcthe: United Bt u t specimens of fish in the eae woe display windows of the | Watson nd the trend | *tore a4 A runing board auto service kit A the | will be given to the fisherman wh¢ pea : nturn,| catches the biggest trout for thes, SROPON EOF MALO Ete ) to the first of May and ex. ope valuea anc 7 display windows of apathy with the gra This contest wil he 30-day period Inclusive ot | the first month of the fishing season | which opened on April 2. ¢ prize contest will be the period up to the firs€ ¢ The fisherman catching ¢ trout during the mont exhibiting {tin the win Watson store will be. tiflcate or § Another grand announced late ss n Radio shop has just and complete stock hermar complete has Ine of electrical appliances. and also installed a 1.08 1.06% ai : 16.12 , 16.45 + _ : See the new Moon at 17.40 Van Sant’s OIL FIELD SHIPMENTS Now Being Received by The Casper-Salt Creek Parcel Delivery PHONE 1283 INVESTORS FIRE PREVENTION Will you fnvest if IT can show you how easily each plece of lumber used in buriding can be fireproofed before {it goes to the carpenter or after while natural. Think of (he hundreds of buildings In oll field camps; also roofs inflammable that can’t catch fire from sparks or any blaze after a treatment of this ful Mquid from my formula, No machinery required, quick, 515 SOUTH BEECH ST. Phone 1876-W—Ask for Rumsey own A | Er MER PRICE ADVANCE Atlantic Petroleum | Corporation Stock When Country Club No. 1 Now Drilling in the Fort Collins GUSHER OIL FIELD Reaches 3,000 Feet in Depth Atlantic 50 feet —less than 750 feet to go—then up goes the price from the present sale price of Y; Why Wait and Pay 3c When You Can Buy Atlantic Today at the Low Price of 1!4c? When Atlantic troleum 25c or 50c a share will you be one who can “T bought mine at 144 cent gain.” Atlantic is the deepest drilling independent to the 3 famous WHITAKER and VER STRATEN GUSHER GROUP, By reason of its strategic position this rapidly drill- ing well may soon reach 3,000 feet and the advance price take EFFECT QUICKLY. Our advice is to BUY ATLANTIC NOW—IMMEDIATELY! * Shares are selling rapidly at 114 cents and we look for early over-subscription. We are authorized financial agents for Atlantic Petroleum Corporation. In buying from us YOUR money n be used by YOUR company as it is needed for development. All Stocks—Bought, Sold and Quoted ACCOUNTS opened for CASH, on MARGIN or on 10 equal monthly payments Visit our customers’ rooms. Free telephone service. OUR LEASE DEPARTMENT has some SPLENDID close-in acreage at Fort Collins. Right near the big ones. See Mr. Stanley. A.A. Hall & Company Members. s drilling night and day below 2,2 CENTS PER SHARE re and it surely was a Courteous attention, i Denver ek Exchange, Denver Chamibe: Telephone Main 4570 of Commerce. Denver, Colo. request 711 17th St. Pr lea y of State. on