Casper Daily Tribune Newspaper, May 12, 1925, Page 6

PAGE EIGHT — | Oil «= i Finance WOOL SITUATION IS HELD MORE SERIOUS: Mills in East Suffer Blow from Late Slump in Prices with Little Improvement Likely Until End is Reached By J. C. ROYLE. manufac sof woolen cloth. New I ustained drop in raw wool lous grades st: ear, Last fo wool which the: complained of t tions at a e Ligh prices of r: ‘ofit {mpos: There {8 no doubt of the substan- tial dec raw wools have suttered, Fine and. medium staple Gomestic wool, which last December sold at $1.70 a, pound scoured, now wools W a potfnd y be had at $1.25. Ohio fleece len to 48 to quarter bloods ch were $1.30 clean in December e offered at 85 to 90c. Some of Australian auctions have been called off because of the trend indicated and other world Fruit. FRANCISCO—Lemons now ne feature of the citrus fruit et around $6.75 a box at ship- ping points. some care. TOPEKA, Kan. Orct garden crops have been injured to some extent throughout Kansas by frosts, but the damage is not hea CHICAGO—The extraordinary de- mand for telephone equipment bh 4 d to-more norma] le , ac cording to officials of the Western 1c company. ‘To this they at- t 2 sales for quarter, of $71,253,000 as with $80,591,000 in 1924. & Farm Equipment. KANSAS CITY— One large farm implement dealer here annoynced today that the tractor allotment for his territory has been entirely sold up until August 1. Harvest supplles | will commence to move in a week or two and bookings in adyance peen heavier than for three years. Rice. NEW IBERIA, La.—The new Car as been bought an, of Abbeville, The miij!, which will be overhauled and mission at 0 com business men's and thing ts fair and whole ere Kas been !mprove nd for dry goods, shoes Nuts, FORT WORTH—The pecan out: look in Texas {s the best in years, owing to the faflure of inéect pests | to appear, according to H. G. Lutas | of the Texas Pecan Grow Automobiles. DETROIT—The Reo Motor com- Naval Stores. BRUNSWICK ville © a corporatio of pine lands in Glynn and Wa counties and w velop « big tract Much of the land ts covered with un: | tapped trees, Gas. SHREVEPORT—Mor eld and strange loca] gue producers having extensive iding in the Waskom, cast Texas, gaa field, have been awarded @ fr ige to furnish gas tro to town of ongview, Texas, 70 y away. Non-Ferrous Metals, JOPLIN—Zine and ! for the moment are stat ction of sine, ore has fal .pprozimately 16,000 tons @ en mills have close JETROIT—Michigan (e planting re d acrc.ge of early pota due to the ea n weather, Cotton Cloth. \OSTON—Actual sales of the Pa- Mills in the first quarter were urgest in tha compar awevem. wns extremely t H zing \ of r present at cor ond ure necessary Word was e mi felt they have ig to the ich have fallen from 13 to 20 per cent on | at over w vhile the aay a 1 upsets the and the retail josses and growers N the o ast hc not known. wo of normal ca | pacity and some are | There has 1 00% this cessful could try. As reports of concessions. r gome years ing but satisfactory eads in the industr, rectly to the high ing which hi exist- rage of cloth 136 per the middle of 1914. a much higher Jevel The ma- tribute prices for ed. The opinion $s were much too hig ng their purchases, Few bel efore, that con: sumption: of jen and worst goods will. show radical {mprovement s been {die a year, | | who exp coroner's jury yesterday retu history | © exception, The margin of |autcide while temporar until prices have dropped sufficient- e demand, Hai NEW ORLEANS — Jobbers of men’s hats who cover this territory say their sales the last 45 days have Demand is strong and|been the largest they have had tn men are predicting $8 a] | | METALS | W YORK,» May 12.—Copper, y; , spot and futures, 13%; spot and. nearby $54.50; futures, ; Iron,, stead prices, unchanged. lead, steady; spot, ©7190; zine, firm; East Louls and futures, -36.96@7.00; anti; mony, ‘spot, $18.00. OMAHA TRADE TAIPPEAS DUE (Continued From Page One) Omaha party will be on the program. The excursion will be accompanied by one of tite best bands in Omaha and according to present arrange- mente will play at the hotel during the banquet Tickets for the banquet will be sold at $1.26 per plate. and those ct to attend are requested to get their t) The tlc committee 1s Walter Se stead, T. C. Ton lenk, F. J. 1, C, er, F. L. Hunt- E, Moore, Emmett Fuller, A. lace, W Kimbai O, C. Goss, Tom “Elkins Johnson and Chas. Neltham- \May Increase Mexican Border submitted Mexican gove next Frida nent ut El Pano, Assistant Secretary Andrews of} aded the party of the treasury, seven which hopes to work out at the conference 4 treaty smuggling and other b prob: > and alien emug sling has of the most difffoult problems on the southern boundary, with Mquor running reported as Increasing. NOTED BRITON KILLS HIMSELF SOUTHAMPTO) 13.—«B; England, May The Associated Press.)—The ed & that the Hon ances John * who was found dead at ls home Saturday, committed inwane, eased way » half hrotk The 4 of Harewood, who law of Princess Mus Bonds :: ‘he Casuet Dallv Cribune Stocks | TELL OO 1M GUT TIN’ SICK. AN’ TIRED OF MY.0OCTOR'S OROERE THIS THING OF WALKIN’ TEN + MILES ADAY AN’ ORIN ON A MILK DIET IS CUTRAGEOUD - I'M GONHA GIT ANOTHER DOC TOR - ve recorded similar price | s, The London auctions ‘ogress have been material- England milla ning clowe to the wind, ‘The spring sted mills are operating on 6 ew are working a vigorous attempt ces up and to some 1s per-| Allis Chemical and Dye - Car, and Found: Sm. and Ret. -. Water Works Atl, Coast Line Baltimore and Ohlo Bethlehem. Stee! California Pet. Canadian Paclt: Leather pfd, Cerro de Pasco - Chandler Motor Chesapeake and Ohio. Chicago and Northwestern . Chicago MU, & St.Paul pfd. . and Pacific. Chile Copper -. Coca Cola ---. Colorado Fuel closing w tire gains of a point or more being re- Consolidated Gas ex div. ~ Corn Products Crucible Steel Cuba Cane Sugar pfd. - MidContinent. Pet. Dodge Brothers p fd Davison Chemical - Du Pont de Nemours, - General Motors Great Northern pfd. Gulf States Steel Houston Oil Hudson’ Motors Ailinots Central Int. Harvester Int. Mer. Marine pfd., . I Springfield .. Kennecott. Copper Lehigh Valley - Loulsvitle and Nashville ~ Mack Truck Marland Oll Max. Motors A | Mex. Seaboard O} Mo., Kan. and Texas - Misyourt Pacific pfd. Montgomery Ward - H., and Hartford ‘ortolk and Western . North American Northern Pacific Pennsylvania - Phila and Rdg. Phillips Pet. ysed of the Jones, W. F. Wilkerson, | Reynolds. Tobacco B Louls and San Fran. Seaboard Air Line Sears Roebuck -. Sinclair Gon Sloss Sheff Stcel Southern Pacific - Southern Ratlway -. Standard Oll, Standard Oil, N. J. Stewart Warner - Studebekare A Ed Texas and Pacific 0 Products Wabash pid, A Westinghouse E! to repregentatives of] W Woolworth -- MARKET | CRUDE covering s almilar to those negotiated with | ted out as two 322 ---- +--+ Hamilton Dome ~.——---+-+—--~ ———-———- BITOD a Notch@s . ee Plot Butte =e Lance Creek Osage ~---~-—- Grease Creek, Ugbt ~ GreyOUl ~ a eee eee ——— Rock Creek MINNEAPOLIS, Mir 6 to. 100 lower; family patents quole nd cotton sacks, in carloud lota, Resistance Encountered To- day in Bull Operations On Exchange. NEW YORK, May 12.—Construc- tive forces were at work in today's stock market more than 30 issues, including several motors, motor ac- cessories and rubbers being lifted to new peak prices for the ygar. Re- ports of high earnings and rumors of favorable merger and dividend payments excellerated the demand for these stocks.- Total sales ap- proximated 1,750,000 shares, The strong. NEW YORK, May 12.—Poo! mian- agers encountered stiffer resistance in their campaign for higher price at the opening of today’s market, buying demonstrations ‘continued unabated, however, in the motor, nd accessory stocks, corded by Willys Overland common and preferred, Mack Trucks, Unit- ed States Rubber and Stromberg Carburetor. Heavy accumulation “of the. St. Paul Issues apparently based on ex- Pectations that the interstate com- merce commission would look with favor on the application of the Northwestern carriers for an in- crease in freight rates was one of the early features, the preferred stock showing an overnight gain of one point for the first time since the recelvership was , anriounced. Other rails also began to show. signs of Increased activity, Frisco common St. Louls Southwestetn, Atlantic Coast Line and Southern Raflway being among the first to sell 1 to 2 points above Inst night's closing quotations. Buying of the. indus- triala and specialties centered large. ly in the shares of which the best potential earnings prospects, Kel- sey Wheel, U. S. Rubber Common and Nash Motors quickly mounting to new high levels for the year. Thi foreign exchange market showed no uneasiness over the monarchistic display at Von Hindenburg's recep- tion In Berlin, the French and other European currencies displaying a firm tone, The morning . market gathered strength as trading progressed and showed broadening tendencies. Com- mission houses reported: marked in- creases in public participation from western points and this was made manifest by the increased demand for farm implements, fertilizer and mail order - stocks. Continued strength of crude rubber market stimulated activity in the tire stocks, the three Kelly-Springtield issues, Ajax and Fisk common and Fisk preferred. being added, to the Ust of new 1926 high the 3% per cent-rate for call money with funds available below that fi- gure, in the outside market aided the new pools being formed in some of the pipulor stocks. Better buying was noted in some of the standard industrials, American Can being run Up over four points to above 189, a ) record: for all tin make {ts third annua 000 on accor om es {t pure! er the deferred payment plan in Ing 113 a8 against Mon 1% loped, a nudden burat/ of strength and activity tn the early afternoon cn buying influenced by reports that Smackover production was nearing tts peak and that the increase in gasoline consumption was unusually heavy. Speculative attention was again drawn to American Su a Tobacco prefer- red which jumped 10 points to 62 and to Frisco common which crossed 81 to the highest price since the reor- ganization of the road in 1916. LIBERTY BONDS ~ NEW YORK, May 12.—Liberty bonda closed: Sts, 100.31; first 44s, stcond 4%s, 101.9; third 4s, 4%s, 102.10; U.S. i POTATOES | CHICAGO, May 12.—Potatoes.— Recelpte new 48: old 66 cars; total U. 8. shipments 627; market stead, trading falr; Wisconsin sacked round whites $1.10@1.25; Minnesota sacked round white $1.10@1.16 North Dakota sacked {ed River Ohlos $1.25; Newmarket firm on number 1 harrele, weak on aij othor | stook Renewal of Polish government has JOST A MINOTE: IMOST STUDY YOUR CASE: {MOST FIRST FIND OUT WHAT AILS |: TOT: TOT: 11S JUST WHAT 1) THOUGHT! YOU SHOULD WALK TEM MILES 4 DAY AND GO ON AML CIET- io, a oe by Inre Pestune Scwsite. Inc Gwar Britain nite served. ee a Grain :: Livestock :: All NEWS AND QUOTATIONS BY LEASED BRINGING UP FATHER TUESDAY, MAY 12, 1825 I SLOWED UP ‘Quotations by Blas Vucurevich, Broker) 203 Consolidated Royalty Bidg. Bid Ask Western: Exploration . 2.40 2.60 Consolidated Royalty - 1.01 1.03 Central Pipeline --. 45 50 gE, T. Willams As% «13 Bessemer - oll Western States ------ 124 Kinney Coastal .. +08 Columbine -. 06 08 Jupiter -. 06 08 Elkhorn .«. 04 05 Domino 04 05 Royalty Producers 04 05 Sunset .. - OL 01% Picardy Sse aeeeee uCLt | me Atlantic Petroleum -.. .0! 02 - 00% 00% - 00% 01 00% 00% Riverton Petroleum -. 2.40 4.60 Az 4 wow 21% Salt Creek Producers -.-.. Continental ------------------ 25% New York Oil 10 Salt Creek Consolidated -. 7 8. O. Ind. ---. 64 ———_—— Chicago Prices. CHICAGO, May 12--(U. 8. De- partment of Agriculture)— Hogs, 17,000; slow; opening 25c to 35c higher; later sales show 25c advance; packers doing little, other bulk and choice 140 to 225 pound averages $13@13.30; top $13.35 early; bulk 250 to’ 325 pound butchers $13.10@13.: packing sows largely $11,75 @12.75; slaughter pigs $12@13. Cattle 8,000; beet steers and year- lings steady to 25c higher; mostly 10c to 15c up; in between grades ight and medium weight offerings showing most advance, better grades heavies scarce, in narrow demand; best welghty steers early $10.60; baby beef yearlings heifers $11 bulk fed steers and yearlings $9@10.25; she ‘stock slight to strong; bulls 25¢ higher; vealers improved quality considered about 15c up; weighty |J bologna Ddiills $5.50; bulk 35.25@5.40; good to choice handyweight veal calves’ $10.50@11 to outsider; Nght vealers around $8.75; stockers are scarce, firm. Sheep recx>is_ 16,000; fat lambs opening around 25c lower; good to choice 79 to 86 pound clippers $13.60 @13.75; best held higher; weighty throwouts $11.50@11.75; no wooled lambs sold, fat sheep unchanged; good clipped ewes $8. Omaha Quotations. OMAHA, Neb, May 12 Hogs.— Receipts, 10,800; early sales to yard traders and shippers, 25@30c high- er; closing dull to packers with most ;' bulk’ of sales, early advance lo: $12.50@12.75; top, $12.85. Cattle.—Receipts, 5,000; fed year- lings and light steers, 10@15c high- low, steady; 0@10.40; few $10.60; lights steers, $10.50; nd veal active; strong; bulls, er; weighty steers, bulk early sales, loads stock steady; stockers and feeders steady; bulk butcher cows heifers, $6.25@9.25; bologna bulls, $4,865 @5.25; practical veal top, $9,00. Sheep.—Receipts 00; few clip. ped and whol lambs, steady; spring ewes, upward to $8.00. Denver Prices. DENVER, Colo., May 12.—Hogs- —Receipts, 3,000; moderately active; early top; $13.15 for 215-pound welght; bulk 190 to 225-pound av- packing sows, mostly 5c higher, $10.50 to $11.25; butcher sows, $11.60; pigs, . $10.00 to erages, $12.00 to $13.0 unevenly higher; stock: fat kind up to $11.00; $9.36; calves, weak; bulk choice veal ers around $11.6¢; odd lots higher other slasses stead: $4.75 to $5.00; canne and cutters $2.00 to $4.00; stockers and feeders, scarce. Sheep.— ‘Receipts, 2,100; opening fat lambs, around steady; one load of %4-pound $14.50 flat; two loads me dium, 7&pound, $14.00 flat; three loads 97-pound, $13. Poultry CHICAGO, May 12.—Poultry alive | unsettled: fowls 26'4c; | curs 20c; duc ‘broilers 463 65c roosters 16¢: TA@26c; geese 18e l dull, steady to lower; bulk fed clipped, $12.60@12 90; no choice light clippers. included; heavies down- ward to $11.26; best Nght ted wool lambs, $15.50; sheep, steady; shorn .—Recelpts, 3,200; > calves, 160; steers and yearlings and fat she stock, steady to 10e higher; choice light yearling steers and heifers, $10.09 / to. $10.30; numerous loads, 33.85 to $9.85; dest cows, $7.90 to $8.10; mixed cows and helfers, $5.25 to $8.50; desirable heifers, $9.00 to few fat pulls, Strong Demand Develops Today in Trading on Chicago Market. CHICAGO, May 12.—Wheat scored material gains in price today after @ wavering start. There were indl- cations that exporters were actively seeking northern spring wheat and that bids for No. 1 northern were on a full workable basis. Price up turns were also more or less influ- enced by suggestions of possible drought in spring wheat territory and by adverse winter crop reports, notably from Ohio. The opening, which ranged from 1% decline to halt cent advance, with May $1.59% to 1.60 and July $1.47%4 to 1.48 was followed by an irregular ascent to $1.62 for May and $1.49% for July. Notwithstanding sharp temporary reactions, the market later rose higher than before. Strength of corn values had a stimulating effect on wheat. Closing guctations for wheat were firm, 2% to 8c net high- er, May $1.62% to 1.62%, and July $1.50 to 1.51, Corn showed. independent strength ‘The chief factor was scarcity of of- ferings. After opening at half cent off to \%c up, July $1-15 to $1.55%, corn rose to $1.16% July. Predictions were current that the visible supply of corn will shrink to under 10,000,000 bushels before the middie of June. Prices made add!- tional upturns in the last part of the day, and closed strong, 1 to 3¥}c¢ net higher, July $1.18 to 1.18%. Oats were firm, sympathizing with other grain. Starting unchanged to quarter cent higher, July 44% to 44%4c, the market continued to tilt upward. Provisions lackcd support, despite higher quotations on hogs. ‘Wheat— Open High Low Close y 1.59% 1.63 1.56% 1.6214 1. 1.51% 1.46% 1.50% 1 1.43% 1.39 142% 41.15% 112% 115% 1.18% 115 1.18 1.15% 1.12% 1.15% 45% 45% Ao 45 A, 44% 1.23 1.22 1.14 1.13% 1.07 1.06% 15,55 Sept. ..... Bellles— May - July . 19.15 19.75 19.50 19.50 19.59 CHICAGO, May 12.—Wheat No. 2 hard $1.63%. No. 3 mixed $1.47, Corn No. 4 mixed $1.10; No. 2 yellow $1.19@1.20 Oats No, 2 white 47% @49e; No. 3 white 45 @46c Rye No. 2, $1.18@1.18%. Barley 89. 8T Timothy seed $5.75@6.75. Clover seed $18,00@2 1 $15.57 Ribs $17.25. Bellies Business Briefs NEW ORLEANS—Work will start shortly on the construction here of & + $375,000 tuberculosis hospital which will be erected by the char- {ty hospital from money donated by Mrs. John Dibert. Building permits for April ran above $1,440,000. i Butter and Eggs CHICAGO, May 12.—Butter high- er; creamery extras 41%gc; standards 41c; extra firgts. 39%4c@d0c; firsts 38@739e; eeconds 32@37c Egge unchanged. Receipts 34,258 cases. ———$——>>—_—_ Foreign Exchange NEW YORK, May 12.—Foreign ex- changes steady; quotations tn cents: cables Great Britain demand 484% 485, 60 day bills on banks 4801¢. | France demand 520%; cables 621 Jitaly demand 410%; cablew 410% ; Belgium demand 60814; G many de | mand 29.80. j when thi Former Governor of Kansas ‘Arraigned On Charges of Davis Tri AOQUGHT TALK Jury Secured. BOOSTSGRANS| ina seo te Having Sought Bribe for State Pardons. Hii L } i iad COURTHOUSE, TOPEKA, Kans., May 12.—-(By Thé Associated Press.)--The jury that will try Jonathan M. Davis, former governor of Kansas on charges of seeking @ bribe, was completed and sworn in today. A controversy as to the ad: missibility of evidence involv~ ing the actions of alleged “agents” of the former governor followed the swearing of the juy, Judge James A. McClure ruled that evidence relating to acts and declarations of Russell Davis, son of the former governor, was compe- tent only throwing Nght on the defendant's intent. is charged in the trial with seeking a brite through Carl J.|third parties, Peterson, former state bank commis sioner. Another charge against Davis scheduled to be tried later, in- volves the alleged sale of a pardon through his son, Testimony bringing out collateral facts must “go definitely to Gover asi EAA ST eee eel ORDER ABOLISHING ALL HIGHWAY WORK IN THIS COUNTY TO STAND (Continued From Page One) lute necessity in order to protect work done in the past, ‘Now therefore, be it resolved, that the action of the county commis. sloners taken at the meeting on May 7, 1925, abandoning the highway de- partment operations, be rescinded and the work be continued as pre- viously planned. Dated this-1ith day of May.’* INTEREST RATES.CUT ON COUNTY DEPOSITS In accordance with state law re- quiring that.on the first commits- sloners meeting In May, bankers shall be called into conference to arrange for security for county de- posits. representatives of eix Cas- per banks met with the board yester- day and at the bankers’ request a resolution was passed reducing in- terest rates on county deposits from 2% to 2 per cent. In making the request the bank- ers pointed out that similar action was taken relative to state funds by the State Board of Deposits and that city and county governments all over the state are following the precedent. R. C. Cather, president of the 1s house association and vice president of the Wyoming Trust company, explained that twenty-per cent of money on deposit must be k*pt on hand tn cash, according to law. County deposits are secured by lberty bonds purchased at a premium which reduces the net re- turn to approximately 3.7 per cent. This fact together with the neces- sity of keeping 20 per cent of county deposits on hard in cash constitutes a condition whereby the banks do not have an even break when 2% per cent interest in paid, Cather ex plained Certificates of indebtedness are ac cepted at the Casper banks only are presented by regular customers, the commissioners were told, and jn all cass they cre dis- counted. two per cent because pres- ent interest rates are elght per cent, wher the certificates draw only six per cent. Thus the discount {s only a business proposition with the banks, {t was stated. The bankers unanimously request- ed that In the case of temporary do- posits of county funds, they be per. mitted by the commissioners to give ¢ security Instead of purchas. ing Liberty bonds, as {s done to we cure the more permanent cou posits, Tt was di arrangement can be made th may refuse to accept the temporar: county depesits, since th be no profit in purchasing bonds as |‘ collateral for such deposits. The legality of the proposition was | referred to County Attorney George Weedell who will give av opinion at the Thurséay meeting. Cather ex pressed opinion that the arrange ment will undoubtedly be found to be legal Agnes Clare, county treasurer sald she would not accept thee leates of indebtedness as nocurit deposits without a wri Jactton would be legn! owing bankers were pres: | from Weede'l to the effect that én Cather: Leigh Townsend cuehier of the Stockmen’s National bank and representing also the First Trust and Savings bank; Carl Shu maker, vice-president and cashier of the Wyoming national bank; C. McFarland, cashier, and H, J. Clare, assistant cashier of the Casper Na- tonal bank; and C. H. Horstmann, vice-president of the Citizens Nation- al bank, the conference with the the commissioners discussed ways and means of reducing county expenses but no action was taken other than decision to request the heads of all departments to prepare statements relative to the amount of work in their offices and tit#tr personnel. This action was taken after Bur- well pointed out that {n case of the clerk. of court, assistants have been made deputies, that one {s receiving $150 a month and three are paid $125. When she presented her pay- roll Mrs. Maybelle Fiedler, the clerk sald Judge Cromer, of the district court, had given her permission te make deputies of her assistants, Burwell declared that a large amount of the heavy work in county offices is: seasonal, especially in the case of the county assessor and treasurer, and thag during pertode of little work expense can be saved by temporarily laying off one or more employe: In this matter Chairman Scott de- clared, “I am in favor of cutting the personnel of every county depart- ment !n half, if-tt is possible to do so and yet maintain efficiency. The county clerk promised to cut one employe from her payroll. NEW YORK, May 12—No changes were reported today In refined sugar prices which ranged from $5.65 to $5.70 for fine granulated. Domestic Jusiness continued on a routine basis but a better export inquiry was re- Ported. Refined futures were nominal. Sugar futures closed firm; ap Proximate sales. 43,000 tons; May, $2.66; July, $2.80; September, $2.91; December, $2 MONEY, NEW YORK, firmer; high, rate, 3%; a st loan acceptanc May 12.—Call money low, 3%; ruling bid, 3%: offered at e commercial re SILVER NEW YORK, Ma 18—Bar eilver 87 NEW YORK mpot, quiet; mid