Casper Daily Tribune Newspaper, May 24, 1925, Page 9

SUNDAY, MAY 24, 1925 UPTURN IN Finance OILS IS FEATURE OF STOCKS Substantial Gains Scored in Prices as Result Of Crude Advance and Increased Demand For Refined Products. NEW YORK, May 23.—Stock prices closed the week at higher levels maintaining an upward trend in today’s brief session in the face of a large volume: of ‘profit-taking, United States Steel came in - for y sales but recessions in many were more than offset by the gaing In motor and oll issues. Prices closed firm and sales for the day amounted to about 800,000 shares. Railroad and industria shares averaged to within a few points of the year's high marks during the week just ended. Bonds changed hands at the highest prices {n years and sterling exchange continued strong, Upturn in the oil shares featyred the trading with favorable reports ecting many branches of the {n- dustry, Increased crude prices and increased demand for gasoline were noted, Stock trading was in large volume with close to two million shares changing hands every day.* GAS CONSUMPTION OF NATION SPEEDED UP Rapid Rate of Increase Resulting From Gain In Motor Car Registration, Oil & Gas Journal Shows. (From thé Oil and Gas Journal, of Tulsa, Okla.) Registration of automobiles in the United first months of this year showed States in the four an in- crease of 13.6 per cent over the reg: istration for the first four months of 1824, according to official reports made te he Oll and Journal by the aries of state and- motor vehicle registrars of the different ‘tates and the Disirict of Columbia. The number of passenger automo- biles regjsiered from January 1 to May 1, totaled 13,301,80: while the number of motor tri was 1,872,- 446, a total of 15,174,248 motor ve- Hicles, 2 gain of 1,839,56% over the first three months of 1924 and within 2,557,238 of the total registration for the entire year 1924. The effect of this increase in the Everyman’s Why French Bonds Are Low. One of the most interesting prc lems in the whole investment field welates to French bonds. 1 am Te Terring to the dollar bonds and not to thore payable in francs where the foreign exchange quotation is a fac- tor in the market price. ‘The dollar bonds which have been so widely distributed in this country, ‘present difficulties of their own. sell to bring anywhere from 7% to 8 per cent, an extraordinar- ily high yield for the obligation of a with so long & record for its obligations. Let us see what are some of the rearons for thir situation. In the first place until very recently the French budget has not been balanced, that is to say ex- penditures—have exceeded receipts, Tf this were the case with a corpor- ation the outlook would be unfavor- able in the extreme. For the coming year the French budget is balanced on paper, but ft remains to be seen whether the estl- mates will prove correct. At the Dest, howover, something Mke 60 Yer cent of French income fs taken up with charges on its already enor- mous outstanding debt. Thi number of motor vehicles In daily use in the whole country has already been shown in the greatly increased demand for gasoline, Gasoline con- sumption throughout the country during the first three months of'this year Njowed an increase of 28.5 per cent over the first three months of 1924. The greater gain in consump- tion of gasoline Is due to several causes, chiefly, better weather condl- tions early this year than last, a larger percentage of closed cars which permit constant use regard less of weather condition: better roads which result in greater travel; & more unlyersal use of automobiles; greater cotigestion in the larger élt- {es which results in more consump: Uon of gasoline, and the steadily growing use of motor buses as sup» plementary means of transportation in the cities and between towns. Investment not take Into account the sums owed to the United States and to Great Britain for war borrowings. No one kitlows just how these obligations are going to be cared for and this uncer- tainty also operates to the disadvan: tage of French securities, Finally there is the political factor, What the French want above all is security in the event of a new war and no one knows how this prob- lem fs golng to be solved. Again un- certainty deters investors, The tre- sult is that it takes falth to buy French bonds even when principal and interest is payable In dollars and even when it ie a moral certainty that France will not default on her pledged word. One more point. The market price for French bonds is responsive to changes for the better or worse in all these matters we have been dis- cursing and that makes for neryoun- ness on the part of the Molders. This is not written to discourage Invest- ment Jn French securities but simply to explain why they sell ‘at their present price. (Ir, Hughes’ next article will ap- pear in the Casper Tribune next Sun- does day.) Wheat Prices Climb On Reports of Curtailed Estimate CHICAGO. Ma Contistent price gains were scored this woek in Wheat trading on the strength of an Unofficial estimate that the domestic crop this year would fall 8,000,009 | Business Briefs CHICAGO—lIt is understood in fi- nancial circles here that sufficient express busineta has been promised the newly an, National Air Transport ny to Assure Bic ces of the operation ef the airplane Unes between New York and Chicago which will start next autumn. The fact that men repesenting the technical end of engine development like Howard FE. Coffin, of Hudson Motors and C. I’. Kettering, head of the engineering staff of General Mo- tors, are tr ‘ested in the new ‘con- cern, gives assuranee that the new company is not likely to make me- chanical mistakes. The remainder of the list of those interested also makes it certain that financial weak- ness or errors are little to be feared. NEW ORLEANS—A survey of la bor conditions throughout Louisiana shows workers well employed in all rections, owing to the large amount of road building and other public work now in progress. ‘There ts $7,- 000,000 worth of road work under way, requiring 2,500 men. Nearly all private industries are working full time and oll refiners are increasing produetion, ‘ pane ~<a Harned Furniture Co. will give one third off on every articte in our store on Monday, May 25th, y he on New Crop bushels short of the estimates made on May 1 by the department of ag ricultures The opening today wit- nexsed recessions, byt the market re- covered on reports of crop damage from recent abnormal changes tp the weather, May wheat touching $1.69%, and July $1,6614, while May corn moved to $1.14%, an July to $1.16%. Reports that the estimated wheat yleld in this country would be great- ly reduced by crop conditions were supplemented by rumors that the condition of the crop throughout the world had decreared 1.6 per cent. Today's range of grain and pro vision prices follow: Wheat— Open High Low Close May 1.6746 1.70% 1.67 iit July 1.55 1.56% 184K Ls Sept, ... 147% 1.49% 146% 149% Corn— May --2--1.18% 1.144% 1.18% 114% July 1.25 1.16% 1.14% 1.16% Bept. -.. 1.14% 1.15% 1.13%) 114% Oats May - 45 45% AAG July site 5% 46 Sept. 45% 40% 44% Ry May Lis LAT Lh July 112 14M Ld Sept. 1.96 1.07% 1.06% Lard— May 15.77 18.67 July 15.85 16.76 Sept, --.16.12 16,12 16.97 17.43 17:88 17 17.57 17.63 17,87 20.93 19.05 4.00 Bonds New York Stocks Blas Viecurevich Allis Chemical and Dye 91 Ameriean Can’ .-.--..-.... 19h American Car and Foundry ~. 108 American Locomotive °«. American Sm, and Ref, American Sugar -..--.- American Tel, and Tel. American Tobacco ---. American Water Works American Woolen Anaconda Copper - Atchison -.......<.. Atl, Coast Line -. Baldwin Laocomotiv Baltimore and Ohio Bethlehem Steel California Pet. Canadian Pacific -. Central Leather pfd. Cerro de Pasco . Chandler Motor -.. Chekapeake and Ohio -..--.-. 97% Chicago and Northwestern .. 5S Chicago, Mil. & St. Paul pid. 13% Chicago, R. I. and Pacific Chile Copper Cota Cola . Colorado Fuel .. Congoleum Consolidated Crucible Steel ...<. Cuba Cane Bugar pfd. -. Mid-Continental Pet. Dodge Brothers pfd. Davison Chemical ....... Du Pont de Nemours ---.... Brie Gulf States Steel ..... Housten Oil .-..... 70 Hudson Motors ... ot Tllinoly Central .. suasteos 114 Int. Hervester Int. Mer. Marine pfd. ¥ Kelly Springfield <... ~ 11% Kennecott Copper ~ Bits Lehigh Valley -. + 19% Loulsville and Nashville ..... 112 Mack Truck -.. Marland Ol . Maz. Motors A . Mex. M: Montgomery Ward -.. National Biscult . National Ladd ... New York Central -... N. ¥., N. 4, and Hartfor: Norfolk and Western North American -- Northern Pacific -..2:.. Pecifie O ... Pan. Am. Pet. Pennsylvania Phila and Md Phillips Pet. . Pure Ol! — Rep. Iton and Steel ... Reynolds Tobaceo B St. Louls and San Fran. - Seabogrd Air Line Sears Roébuck . Binclair Con. .... Sloss-Sheff. Steel -. 85 Southern Pacific -.--. 102% Southern way ----... 92 Standard Oil, Cal. Tv and Pacific Tobpeeo Products Trapscont, Ol1 Union Pacific U. S. Tubber U. 5. Stee! Utah Copper Wabash pfd., @S- Westinghouse Biect Willys Overland Woolworth (Quotations by Blas Vuourevich, Broker) : 208 Consolidated Royalty Bidg, a Western Exploration .2,30 2.60 Consolidated Royalty .1.00 1.03 Central Pipeline -..... 45 — .60 HB. T. Willams 52.2... 10% 11% Bessemer 09% 10H Western ty a Kinney Coastal . 08% .09 Columbine - 08,07 Jupiter +06 07 Bikhorn 4 05 Domino -. i 04 05 Royaity Producers 6 05 Sunset -.---.... 1 Pleardy wae AL 108 Atlantic Petroleum --.. .01 02 Great Northern .. Quaker Ol! Preston Ol! .-. Mountain Producers ~ Balt Creek Producers Continental --.. New York Oil _ Balt Creek Consolidated .. 8.0. 1 CRUDE MARKET | ———e Big Muddy .--...--. 2.00 Mule Oreek ---22- anne 195 Sunburst ~--..-.--. Hamiitoa Dome ps0 DETROIT—Enroliments in tho ord partlal payment plan are now felng mode at the rate of over 1,300 a das Che Casper Sunday Cribune BABSON PARK, Mass., M Roger W. Babson, statistician and student of business con litions today p mand for that the Stocks :: Grain :: Livestock :: All Markets NEWS AND QUOTATIONS BY LEASED WIR FARM CONDITIONS ON MEND, BABSON SAYS Improvement Reflected in Many Industries of Country, Statistician Shows in Late Survey of Situation. Packing House Products. CHICAGO—Despite the wide flue: tuations in hog prices, paekers re- port trade in pork product’ good, with a better feeling throughout the business. Fresh pork has moved with ease into consumptive channels, though the price has sagged some- what, Cured pork is meeting with broader distribution. Trade in beef is slow. will show that the foreign de: cereals is still large and same thing applies to the Automobiles. issues the following ‘official state-} foreign demand for cotton. Statis-] - CLEVELAND—Officlals of Mid- mént. relative to the farm situation. | t indicate that the world needs | land Steel, one of the largest manu- Cofsidering the complexity of vari-|an American cotton crop each year | facturers of auto frames, report the ous reports pro and con, Mr. Bab-| of from 13,000,000 to 14,000,000 bales any's business last month son's opinion on the subject is very|which requires an American acre-|teached record proportions and May opportune at this time. His com-|age of at least 40,000,000 acres de-| Will be nearly ag good. plete statement ts as follows: voted to cotton. It should, ho-vever, ae “ continues to! be the| be remembered that cotton is differ. ; venaat tenet of aecuaaien in|ent from wheat. When there is an| SHREVEPORT, La.—Rates tor the Pullman smokers: ‘There stili!e*tra crop of cotton an increased do-| natural gas for Industrial plants are those who ferl that he is a|™man can easi be stimylatéd by| here has been cut two cents to 8c pampered pet and shoblld be no longer. They believe t replenishing their cotton stocks, Ths only law worth while is the demand for wheat, however, cannot supply and demand and that alj| be easily stimulated, as people will other laws are useless and should | °"!y eat so much bre I Oo the be wiped off ‘the statute books Then there are. those who. believe that the farmer is the basis of al! prosperity and should be subsidized and maintained like the army or navy. Both of these positions are} !ast year, Statistics clearly show eireme, that the farmers of the country are PUBLIC “The simple fact is that farming |{) ® distinctly better condition than is @ business and, lke any other) Oty i) te bile business, is subject to fundamental 3 Achy - economic laws. Tt should be’ allowed | “*!es reflect improved condition The various insurance com- to work out its future through the |)" te farming situation. ‘Tho great |} panies represented in this city survival of the more efficient the| {'ctuation i > new car sales 18|! require prompt payment of fame As must the automobile, textile | GUS Primarily to farmers’ purehases. |! premiums on the part of their and steél businesses. ming is subject to the same temptations and opportunities as other lines, ‘and the farmers should be willing, to suffer or prosper according to their indus try, judgment and courage. On the other hand, it shouldbe recognized that the farming industry is the greatest of American industries and that the prosperity of all of us is vitally dependent upon the pros-|¢ perity of the-farmers. Nearly 50,-|1 000,000 people in the United States today are directly or Indirectly de- pendent on farming. Hence, when the spring comes arotind each year and the millions of acres are turned up and planted to wheat, corn, rye and a hundred other crops, it should * getting people to use the occasion of down rather than i capita wants However, stated, omnae ea" aties| INSURING wheat are thus far runing ahead of The previous high figures for were ers Southport mil finers of this ation capitalized at known as the Southern Cotton Oj} The concern and company of Louisiana will mills in every cotton producing st he a solemh occasion and one worthy | A. of the attention, The prosperity of the farmer is de- pendent upon three things (1) Satis- factory weather conditons yielding a B00d crop; (2) A fair price, not so high as to résult In “Over-production the following year, and-not so low as to make it impossible for him to Profoundest* respect and get a fair recompense, for his In bors; (3) A normal labor and com modity market in order that his: op erating expenses may not be out of CAPTAN COMING HERE per 1,000 feet where the month's ad and, as they more prosperol 1 , tend to ‘ease thelr per agents, and in order that we may comply with this. reason- able requirement and properly due to purchas the falling off in s by the fa ales last y pit tot armers dropping out || protect the interests of our fo market; and the increased |! customers, the undersigned sales at the moment are due to the || agencies and brokers request farmers coming ba my Rea: that all premiums be paid at : time of the issuance. of the Cotton Seed Oil policy, NEW ORLEANS—The Southern i on Oil company of New Jersey Where this is not done and been conrolidated with the || the premium remains unpaid on the first day of the second suc- ceeding month, notice of can- cellation will be served on the assured and all parties in in- terest. » cotton seed oil re- ty, in a new corpor- $19,500,000 and have iquarters here Names of assured whose poli- cies are cancelled for this rea- son are reported to the Credit Bureau for distribution to all members of this association and general credit information. n is president. rb a reat § Marion P. Wheeler Agency Pelton & Hemry Harry Free & Co. TO SECURE RECRUITS FOR CITIZENS CAMP line with his income. or the past NE, Wya., May 23—Cap-| few years the farmer hh had fai tain Oliver Porter of the 76th Field ly good crops, but the price of farm| Artillery, Fort D. A. Ttusell, lett tor|| Spears & Chapman products has been abnormally low] a tour of northern W yoming citles and the cost of labor and supplies| in the Interests ot the Citizens Mili- Robt. E. Brand &bnormally high. Last summer this Situation began to right itself, and wheat went to $1.88 per bushel, corn to $1.29%, and rye to $1.59% in the closing months of 1924. Since January and February most markets have declined, but there has been no such slump as many people are Prone to represent. tary Training his itinerary Cody, and Billings, Mont. arouse of the state to fill the eamp quota, There are now about 20 vaca.cles in mp. Included on are Casper, Shoshonl, Thermopolis, Sheridan, Geo. B. Nelson Finance Corp. of Wyoming nder, He will give talks on the camp to interest among the youths quota of 140, according to Col. “Tho farmers of the country are| Jos. §, Herron, commanding offi- See Ben Realty Co. today distinctly more pfosperous| cer of the 76th artillery and officer than they were a year ago. Wheat is still about Ste higher, corn, 380, and rye, S7c higher than a year ago at this time. The April —_— PSV Paes 3) LR pert in charge of the camp. —— ex- at the Fun Auction - You Risk Both Life and Property by Keeping Valuables in Your Home Surprising a Burglar at Work a more pleasant place than the ordinary. Before going on your vacation visit our vault and make arrangements for a Safe Deposit Box. WYOMING NATIONAL BANK CORNER SECOND AND WOLCOTT CASPER, WYOMING : Wampum will buy an automobile SSL RAST ATS o bli r TT? Even a modern office safe is little protec- tion against fire or burglary. ATE Important papers, bonds, certificates, valuables, etc., should be in a place of abso- lute safekeeping. We want you to see for yourself that our vaults are even safer, more convenient and HUNAN MRA mca PAGE NINE consumption is In excess of 49 mil olla Hon cuble feet. The cut retro a @hokens active to May 1. Grenatah eee te the aa 2 Tp price of crude oil. SACRAMENTO—Tho daily aver: | seaeshts age California crude ofl production | Pitateke has decreased 0 bar each | pernorr.—ship ES month this year, while the total] 1) votatoog tee ern es ha stock of crude and refined products | { nwte hace torn nhout tan has increased million barrels | (7 Gate 0 Soe helen monthly. Stocks now stand at ap- | 0000) period asad proximately 133,235,000 barrels Tobacco, ea ATLANTA—The first Georgia bright leat tobacco of the 1925 crop was cured this week at Dougla Sales will begin In several cities on July 21, Recent rains have benefited the crop and a yield of more than 50 million pounds for th Reducing Stock SALE The Harned Furniture Company will give * OFF of every article in our entir @ is in stock for one day on MONDAY, MAY 25 Everything marked in plain figures and there is not an article marked up or won't be for this sale. We are making this sale in order to make room and save rent. So if you need anything in the Furniture or Household Goods line do not miss it. You have time to come and look the stock over and see for yourselves. Harned Furniture Co. 234 SOUTH DAVID ST. NOTICE Monday, May 25th, is the last day for paying water bills without the penalty. Mail your check with the stub at- tached and avoid the penalty. CITY WATER DEPARTMENT NOT LOST | Woman has found a new | value in utility service— | that was never missing. FOUND, THOUGH i | First, she discovered her | hard tasks were made easy | with electricity, gas and the telephone. Then, to her pleasure, she found fewer tasks re- maining to be made easy. i i THE WORK OUR SER- VICE BANISHES (not alone that which it does better and easier) IS j WHAT GIVES IT ADD- ED VALUE. ? Natrona Power lal IN i | Company |