Casper Daily Tribune Newspaper, June 28, 1925, Page 7

SUNDAY, JUNE 28, 1925 Che Caster Sunoay wrivine PAGE SEVEN ee ee Bonds Finance CRUDE OIL OUTPUT IN NATION SLUMPS Decline Shown in Nation at Large While Gain Of 2,600 Barrels Is Revealed in Pro- duction of Salt Creek. American Petroleum Institute that the daily The timates aver crude oll in the smackover heavy ofl field was 259, 50 barrels, a decrease of 54,900 bar- during the week of June 20, The average production in the Unit- ates for the week ended June 197,450 barrels as compar‘ 0,000 barrels for the pre eek, a decrease of 62,550 els. The daily average production United States excluding over, heavy, decreased 7,650 The daily uverage produc east of California was 1,561,950 , as compared with 1,630,500 els a decrease of 68,550 barrels. rhe estimated dally average gross juction of the Rocky Mountain trict was 95,750 barrels as com- ed with 00 barrels for the an increase of 3.550 Salt Creek is reported at 55,- els against 53,200 barrels. lifornia production was 63 € ‘as compared with 629,500 els for the preceding week an in- e of 6,000 barrels. estimated dally average gross uction’ of the Mid-Continent 1 including Oklahoma, Kansas, th, east, central and west centrai production Texas, north Louisiana and Arkan- fas, for the week ended June 20, was 1,207,750 barrels, as compared with 1,266,750 barrels for the preceding week=a decrease of 59,000 barrels. The Mid-Continent production, ex- cluding Smackover, Araknsas, heavy oil, was 948,000 barrels, against 952,- 100 barrels, a decrease of 4,100 bar rels, The estimated daily average gross production of the Gulf Coast field was 104,350 barrels as compared with 114,000 barrels, a deceares of 9,650 barrels, and tn the southwest Texas fields was 43,600 barrels, as com- pared with 53,500 barrels for the pri ceding week, a decrease of 3,950 bar+ rels The combined daily average gross production of the southwest field was 1,361,700 barrels, as compared with 1,434,300 rels for the preceding week, a decrease of 72,600 ba Oglahoma-Kansas show average “gross production of 555 barrels, a decrease of 1,400 barrels; north Texas shows a de barrels; “east central Texas a crease. of 4,350 barrels, west centr: Texas an increase of 900 barrels; north Louisiana an increase of 550 barrels, and Arkansas a decrease of 950 barrels. GRAINS CLOSE WEEK AT PRICE REDUCTION Lack of Buying Support Brings Decline in Satur- day Session After Early Advance on Strength of Liverpool Demand. CHICAGO, June 27.—Wheat prices elved sudden setback near the ¢ of today’s trading, following elation that buying power was in- juate to sustain advances marked 1 sympathy with Liverpool narket opening. Corn and ¢ sharply with wheat, closing placing July and September ut at $1.48%% and July corn at Lower market trend featuyed the ling of the week, first reports of ick rust in /the northwest having 1) denied later from authoritative irces, All market factros were ordinated in large part to weath onditions in the spring crop belt, r arly the Dakotas and Minne- Weather was generally favorable he growth and future maturity of corn crop and proved a weak- ng factor jn this trading. Pro- ons fell off with the grain mar- day's range of grain n prices follows. and pro- Open Low Wheat— July Sept Dec High Close 148% 1.46% 1.48 1.48% 146% 1,48 Corn— July 1.0434 1.05% 90 1.04% no?" 88 1.00% 1.02 S815 ALA AGM ATS 6% bs] M AAT ' AB 49 ATM 1.04% 1.07% 1.10 1.01% 1.04 1,07 1.01% 1.04% 1.07% 17,10 17.35 18.50 18,65 Bellies— July 2... Sept. - Stock Issues Buoyant At Close of Week Featured By Mixed Price Movement 3W YORK, June 27.—Summer ey displayed by stock traders s the last week was shaken off brief session of the ex- American Can with a 10 points hen led motors, rub: icala and som De Itles ‘ound, Buying of many grgie issues was attrib J nial interests and the nt was Interpreted as fore- an improvement jn trade ns later {n the season, Ralls ied sluggish with the excep- f the advance of 3 points made itlond preferred, Closing prices strong and aggregate sales for the day's session amounted to about 600,000 shares Trading for the most part during the week confined to narrow und, irregular mits and price me monts were uncertain. Bonda o with demand, United falling In ps up to a new met irregular s treasury note being marked rd early in the wee Demand sterling was firm but French, Belgian and Italian exchange rates fell off to new low levels for the year. Motors, tobaccos and public util!- tles came in for considerable pool ac- tivity, but steel stocks and oils failed to make much headway, Heavy freight loadings fustained ral issues. tign rec! Everyman’s Opportunities for the Wise. ny ultra-conservative inventors restricting their holdings urities legal for savings banks trust funds. For this purpose ew York state law is generally a standard and probably so. The restrictions In the York state law are compara- evere and the record shows investments made under this have In the main been safe, if always as profitable as they ht have been, ' Is a mistake, however, for one ts not bound by any legn! obll- on to overlook possibilities out: » the class which savings banks y buy even though the alm is the hest degree of safety. The k state Iaw in some reapects is rigid. It was drawn up at a © when railroad bonds and state 1 municipal obligations were con Jered the only secure investments. does not accept as legal high ‘Je utility bonds nor does it ad- railroad equipment certificates. there are many utility: issues h aye just as safe as the rail- bonds iegal under the New Investment York state law and the result is that the legal railroad bond démands an artificlaiiy high price simply be cause the savings bank must have and cannot buy the utility. The individual investor, provided he has the right counsel, is able to take advantage of this price dis crepancy without in the slightest diminishing the average degree of security. As for the railroad equip. ment certificates it is doubtful if any other corporate security has as good a record. Defaults are almost enilrely unknown, To a less degree there are similar opportunities ainong. industrial bonds but here greater care must be used in mak- ing selections, Bankers, recognize the changed conditions which have put the best of utility. bonds and of raflroad equipments tn the most conservative clans of investments and a move nient Is on to amend the New York state taw accordingly. There is no reason, however, why tty ordinary investor should walt divlators to be convinced on subject on which most of them very il informed. a for a are Stocks :: Grain NEWS AND QUOTATIONS BY LEASED New York Stocks Atlantic Petroleum New By Blas Viecurevich Allls Chemical and Dye --.... American Can ~-.-.... American Car and Foundry - American Locomotive -. American 8m. and Ref. - American Sugar -._. American Tel. and Te! American Tobacco --... American Water Works American Woolen Anaconda Copper Atchison Ath, Co: Baldwin Locomiotiv Baltimore and Ohio Bethlehem Steel California Pet. Canadian Pacific -. Central Leather pfd. Cerro de-Pasco ~ Chandler Motor Chesapeake and Ohio Chicago and Northwestern Chicago, Mil., & St. Paul pfd, Chicago, R. 1, and Pacific. Coca Cola ....... ‘olorado Fuel Congoleum-Nairn -... Consolidated Gas -..... Corn Products Crucible Steel -.. Cuba Cane Sugar pfd. Davison Chemical Dodge Brothers pfd. .. Du Pont de Nemours «... Electric Power & Lights ctfs. Erie First pfd. Famous Players ---. neral Asphalt .-. General Electric General Motors ~ eat Northern pi If States Stes Hudson Motors Illinois Central Independent O. and G. Int. Harvester -..-- Int. Mer. Marine pid. .. Int. Nickel ..--. Kelly Springfield . Kennecott Copper — Lehigh Valley --. Louisville and Nashville Mack Truck .. Marland Ol — Max. Motors B Certificates -. Mex. Seaboard Oil Mid-Continent Pet. Mo., Kan, and Texas .. Missourt Pacific pfd. .. Montgomery Ward . Biscuit . Lead ~ y York Central . N. H., and Hartfor rfolk and Western . orth American ~ orthern Pacific .. cific Oil . Pet Pennsylvania .. Phila and Rdg. Phillips Pet. Pare Qit. Radio C Reading Rep. Iron and Steel Reynolds Tobacco B St Louls and San Fran, Seaboard Air Lire .. Sears Roebuck Sinclair Con Ott Southern Pacific Southern Railw Standard Oil, Cal. Standard OM, N. J. Stewart Warner Studebaker Texas Co. ‘Texas and Pacific -. Tobacco Products Transcont, Oil Union Pacific U.S. Cast Iron . Ind. Aleohol 103% 52k 28714 84% 69% 8154 64% 113% 38 107 32% Cc. and I. Ss. Wabash pfd. A --.- Westinghouse Electric Willys Overland Woolworth WYOMING OILS Quotations by Blas Vucurevich, Broker 208 Consolidated Royalty Building Western Exploration . 2 Consolidated Royalty ~ 1.00 Central Pipeline -.--.. . B. T, Williams & Bessemer ... Western States Kinney Coastal Columbine Jupiter . Elkhorn ~ Domino Royalty Sunset Pleardy - MacKinnie Buck Creek . Chappell -s---. Burke Oli - Wyorlll Henrock Riverton Pets Argo Oll --. Producers 30 10,00 Curb Stocks. Ohio Ol Mountain Producers’. Salt Creek Producers ~ Continental -. New York Oll ...2- Salt Creek Consolidated . 8. 0, Ind. -.. Humble OW . Prairie Oil and Gas ‘CRUDE MARKET 200 Lad 140 1.06 1.06 Lao Big Muddy .----.. Mule Creek .. Sunburst Hamilton VOM@ sa newannne tab 10 216 2b 2.15 2.16 2.00 2.00 216 2.00 1.60 LANCO Creek on nanwnnnnnnnenes Osage Grase Creek, Ugbt ------------ reybull ~ --.---+--~ forehilebt « Blk Basin .. ROCK Creek -naanennnnnnnnnnne Balt Cree snnnennnannsecenene In Fort Country Club No. 1 of the Atlantic Petroleum: corporation is running ahead of schedule on its drilling pr gram at Kort Collins, Country Club No. 1 is almost 3,000 feet in depth. Atlantic's expert drill ing crew made fast hole the last ten days. The record for one day was more than 120 feet. This represented 24 hours of continual drilling as*the well is under two towers, night and day: shifts. Some difficulty in making fast hole was experieticed around 2,500 feet when it was. necessary to cement three times, to land pipe and to take care of cave formations, “The condition of the hole ts ex- cellent,” says Clem Hinds, head dr! ler for the company. ‘The form: tions encountered sq far are most fa- vorable. The ‘various stratas cut by the bit, which is-the only real test of structural. conditions, convinces the directors of Atlantic Petroleum that Country club has all the ear marks of being @ real producer, “The way the wel) Is now, logsing up we should reach the pay. sand at approximately 4,350 to.4,400 {cet “Atlantic {s one Fort Coliins well, which {s to.be drilled without delay, My. instructions are to reach the pay sand as rapidly ag-poasible and every effort will be made to carry this program out to the letter. We have sufficjent casing on hand to carry us now to 4,000 feet. “The hole is now reaching a depth Ahead of Its Schedule Collins Well where the formations are very inter: esting and each new development is checked most carefully and the strata analyzed by experts. We are familiar with the formations encoun. tered by other wells in the field and we are watching carefully the char- acteristics field markers as they are encountered, “One outstanding feature of the Fort Collins-Wellington structures {s the significant fact that of five com pleted wells of the Union Oil com pany of California, every well is a Produger, This great major operat ing company has fifteen wells under way at this time, They haye had 100 per cent hits on the first. five to come. in and several mog# are almost within striking distano@ of the pay sand. Of this number two are report- ed to have oll standing In the cas ing, which further indicates substan- tial production area. “The, vast amount of money being expended by the,Union Oil company of California indicates very clearly thelt confidence In this field. It costs moré than $100,000 to drill a well and fifteenwells. represents @ great outlay Of-capital, The five wells al- ready brotght in, more than justify this greaf expenditure, “Atlantic Petroleum: corporation has two §80-acre lensés clore to the heart of both Fort Collins and Well- ington structures. In my opinion, Atlantic hag an excellent opportu nity for production on both leases.” €d on the present inconsistency of high stock market prices w He ith poor business conditions this paradoxical co: Y definitely continue. He what will, in opinion final result of this situat full statement is as follow Waich the Weather During the } stock in tlon very similar present t isted were t high pol Janua n a u ime good, At was the inevita ditions following the tory last fall, when people bought both securities and 1 dise. Today, however, the entirely cl Ithe natural t timistic conditions we st a period when people le buying. Life balancing of tive stock mar f tive one and a Inactive merchan follows an Moreover, the weather winter and spring has tl er, anged. igh up in consists lar activit inac dise market active this on’ past very | BY J. C. ROYLE (Copyright 1925 The Casper Tribune) PLATTSBURG, N. Y., June 27,— Styles have changed in transporta- tion as in other things and it be- hooves the traction interests of the country to keep up with the styles if they would retain their position and perstige. That was the advices given. transportation men af. the meeting of the New York state rail- Ways asoclation here by L. S..Sterrs, managing direetor for the the Railway industry, He urged trans. portation companies everywhere to put their houses in order and lay their facts freely and frankly before the public. He declared the public would be fair if given service and told the truth. “Equipment must be modernized,” he stated, “and electric car and bus service coordinated. This admits of no discussion. Tho electric railway industry must keep up with the times or it will pass out just as surely a& the horse car and the Commodity (meee weenie se ne Textiles, BOSTON.—It is understood here 80 per cent of the employes at the Washington mills of the American Woolen company who have been offered work during their vacations on special orders have decided to necept. The mill is rushed on orders for Bolivias and Pompoms. i Aeroplanes. WICHITA, Kans.—Aerial tax! ser: viee between Wichita and Kansas City has been assured by completion of arrangements between the Alr- ‘8 Transportation company and the Swallow Airplane Manufacturing company for the use of Swallow | Field as a Wichita termina Furs, ORLEANS the — Louisiana in NEW leads the states of country Business Briefs (Copyright, 1925, Casper Tribune.) CLEVELAND.—Operations in the steel mills of northern Ohio continue to lag. New business ig coming in slowly and average of operations is placed at about 56 per cent of enpacity, CHICAGO.—BSteel ‘operations con tinue to ‘recede in this district. The leading producer has just closed two more blasting furnaces at Gary and one at Chicago, Ingot production ig reduced to 80 per cent of capacity FORT WORTH, — Forty-seven cents for twelve months fleece and 45% cents for eight months wool are the peak prices so far received by the wool growers’ central storage company fn Ite sealed bid offerings of two million pounds of spring wool Sales of the compuny last week totaled 797,226 Pounds. ST, LOUIS.—Missouri and south ern Iino! wheat crops. In southern Missourl most of the crop has been cut and | Might, threshing has begun. Farmers at Advance, Mo., ate recefving $1.65 « bushel at the thresher, or 35 to 40 cents more than at this time last year. SACRAMENTO, — Owing to the ubundant range feeder cattle are be Ing sent into California from the southwest 1) Unusual numbers for this time of year. The range in rated ati 9% per cent, as compared with a ten-year avernge of 82. Traction Interests Must Keep Up With Changing Styles in Transportation side-wheel steer, It simply must improve its electrical equipment and supplement its service with buses and other such forms of equipment are in competition with public demand “The local transportation ypany which does not supply attractive ser- vice can not hope to do a profitable business any more than the mer- chant whose shelves are filled with shop-worn and old fashioned goods. The selling of rides is a plain bus {ness, The merchant who does bus iness in the best and cheapest rides is going to get the business.” The bus is hero to stay but it is a ridiculous assertion to say it will wholly supplant electric llways, Mr, Storrs declared. The traction companies can utilize it as part of thelr service and he predicted that within a few years bus transporta- tion would be conducted on a scien. tific, profitable and properly con: trolled basis, with the electric roads operating the larger part of the bus farmers are cutting fair | piel ey office, lines. Trade News the production of furs. In the sea- ton just closed Louisiana trappers making New Orleans their’ center, took over seven million pelts, valued at $6,330,000. Muskrat led the list with »on wecond and opossum third and mink fourth, Beans. GRAND RAPIDS.—Central Mic! igan Will have a heavy acfeage beans this year, Ingraham county is said to have the largest plantings on record. The crop, which 1s ready up, in good condition though heavy winds made some r planting necéssary Cotton, TON.—Tho pr a of 4,800,000 This is above last ye An area which, tn 1,500,000 bales, . is drought HOt yield bales or ur’s production 1924, produced suffering with Vegetables. SAVANNAH.—The coastal region of Georgia set a new record last week in tho shipment of tomatoes okra and cucumbers, Good prices were realized in eastern markets > - arket Gossip TULSA, Okla., —Nexotla of the n the ny, a June tions for a $30,000,000 merger Waite Philips Ol company ¥ Mid-Kansas Oil and Gas comp subsidiary of Ohio Oil, have been broken off since agreement could be reached on the valuation of Waite Philips propertie Nghe not the Billy Sunday stopped a newsboy in @ clty where he was conducting a revival and inquired the way to one block and turn to the * sald the boy. “You seem « bright little fellow said Sunday. “Do you know who I “I'm Billy Sunday ‘and If come to my meeting tonight show you the way to heaven.” Aw, go on!” answered the young: ster; “you didn't even know the way to the post office.” vata RETIRES you im resulta try Triune Cla Adm For Want | | | | abnormal in all sectior of the c and this has upset both facturing and retailing We watched the weather its effect on the crops whic mined railroad earnings. These earnings were then a great factor in determining stock market prices. | since railroad stocks were about | the only ones traded actively. As |i industrial stocks came into greater | prominence, speculators gave y attention to the crops and during | f the past. few years crop reports have been much less important as.a stock market factor. Now, however it is being realized that the weather an important factor in deter ing the profits of our great indus trial concerns and that weather is | the most important factor in. deter mining merchandise s The market, however, has yet flected the abnormal weather of the eight months Yoo Many Retailers “Fundamental conditions are fa ly normal at the present’ time Money is easy, crops are fair, labor | in most sections {s normally | ployed, capital is comparatively from labor disturbances, wages go0d ures are normal ings are heavier than ever and building is still very The difficulty today ms that there is not enor to support the tremendous number | of people who are in the retail-busl- | ness and to keep busy the tremen- dous manufacturing capacity which | was created during the war. When | we take any one commodity we find that the total volume of business in | that commodity compares exceed: | ingly well with previous years and is above the ten-year average; but we also find that the manufactur- ers making this commodity and the storekeepers selling this commodi are making little or no money, question {#: Is the present difficulty due to people not buying enough goods or is it due to a too great manufacturing capacity and too many retailers? I belleve very strongly that the difficulty 1s an abnormally large manufacturing ca- pacity and the great increase in re- tallers, Thus it will be seen when studying fundamental conditions that various factors, . lke easy money, tend to make stock market prices high; while other factor like aveather, tend to mae manufa turing and retailing profits small “As a of conditions we today have even higher prices than in January nditi i pur ran: for deter once less is min ales stoc em free are | car load before, active to be | - | result these | ympared w while business ia much poorer than it waa at that | time, Statistics show that the | spread between stock market prices | and general business has continual ly become greater since January up to the present time. Of course this spread cannot continue to increase indefinitely without a break collapse, One of these three must happen Three Possible Outlooks "1 An business for in many lnes thin immediate chance the better with a tinued and rapid improvement til business conditions justif present high stock market price “2, An immediate change in stock market situation, somewhat similar to a panic, wher prices would quick! a@ level justified by conditions come dowr present busi A gradual improvement conditions and a gr pasing up in stock market 5 whereby a closer relationship would be established between the without any rapid movements one way or the oth “A study of the situation makes me feel that this third course will be the one most, likely to be fot lowed, ‘There need not be any panic with money as easy and banking | conditions as sound as at present with a gradual improvement in the farming situation, the foreign situa tion, and other fundamental condi tions Henee it would even be pos sible that stocks might continue around thelr present level -wit! merely an easing off tend it is inconceivable how continue poor with business ney busl 115 sified | 000,000 Me all falrly well em ployed. Therefore 1 feel that tere PARADOX IN STOCKS AND POOR BUSINESS Es Babson Discusses Inconsistency of Prices on New York Exchange and Trend of Business in Country natural have rhe h retail trade | Livestock :: All Markets | h ve e nat etaller tied the in with averag the results course mea busir dollvrs, but fits. ‘Ther represents which is nor terms of volume and in the terms of pr the Babsonchart neither the stock considerably | does it wht arket normal etail business, The Bab represent the tment stock A gradual readju together of the business, This would thing to happen under cumstances when su d be the | the at Volume of Business V As there tleulty with the v inese present, exisis Good no rea today ume but the trouble comes t) ure not up to expe ot what we is the Bab ates neither satisfies 1 whet more ¢ manufacturer handle 25 per ce nt more business th As his pr per cent money s than we today an fit com he is nd s is running at good volume of better ow not mak in in There retail business an man A loss Bor Tribune Cl | Want results try Ads. than ever before AT THE STROKE OF MIDNIGHT JUNE 30 Atlantic Petroleum Corporation's STOCK NOW SELLING AT Yac PER SHARE (With Lease Bonus) WILL ADVANCE 100% « Be Atlantic’s splendid assets and wonderful opportu- nities for production profits more than justify the in- creased price of its stock. ATLANTIC ASSETS INCLUDE— 4 80 acres—On the Fort Collins structure where COUN- TRY CLUB NO. 1 is now drilling at almost 3,000 feet. A record of 120 feet in two shifts (24 hours) was made by Atlantic’s expert drilling crew a few days ago. Complete standard deep-hole drilling equipment owned and fully paid for. In this field the Union Oil Company of California now has “seven wells. The first three to reach the sand are on production as monster oil wells worth millions to their owner In close proximity to Atlantic’s Country Club No. 1 are four more soon to come in with every chance and assurance of heing wonder- ful producers, —On the Wellington structure, Fort Collins, the Union Oil Company of California has 8 Two on production and six nearing the sand, among them the Scott now being drilled-in with hundreds of feet of oil in the casing. pected to be the Union’s biggest well. The Scott is but a short distance from Atlantic’s acreage. 12,800 acres on the E T Z structure in New Mexico where a test well is to be started by July 18, be- lieved to be a quick shallow test development to the great Pennsylvania pay sand 10614 acres in Zapata County, Texas, near drilling tests and producing well acres on the Branson structure in McKinley New Mexict Within a half mile of now drilling which is expected to get the sand 1,000 feet. The company has other valuable acre age in Colorado and Arkansas. AND LAST BUT NOT LEAST—Atlantic ha aggressive management, ever alert to grasp oppor- tunity. This is a winning company—the strongest inde- pendent now operating in Colorado. GREAT SPECIAL OFFER— Each purchaser of 40,000 shares Corporation Stock at 1c per share 0, will receive a 40-acre oil and the famous E T Z structure in well is to be started by limited number of 40-acre le bonus as long as the a to handle 40,000 s ill _ give you a ynate [ITER STILL, ir one of n with you for 40 of PER SHARE Coun ty a te a keen, of Atlant before m gt as lease ew Mexico Th t, Jur a bo reage rush propor as a une iatel nere your order We are Corporation on the E T Z bu from u as it is needed f authorized finance age Only thr tructure v YOUR bonu Ag of Atlantic ised by YOUI purchase be elopment Only a few hours left to place your order for lac stock. Act now—this minute—IMMEDIATELY. Orderes received for CASH or on 10 equal MONTHLY payments A.A.Hall&Co. 711 17th St. Phone Main 4570 Denver ¢ aber rr filed Car Open to publi Ls on request Denver, Colo. veree