Casper Daily Tribune Newspaper, October 4, 1925, Page 8

|PAGE EIGHT LD AILY S SCORE ADVANCE | 3 INSTOCK MARKET WOIL 5 Con Maintenance of Redis count Rate by Federal Reserve Bank Lends Strength to ist Trading. General Li les were disappointed ti sion's —Changes in Law Coverin BC Eng governing laims which record his with the county clerk the mining distri A. B. Bartlett, a letter to Sena- ick, at Casper. ator Ken- tter to the ittee of were; market. French bonds and exchange which had recently advanced on prospects of an agreement, reacted on the news. res were buoyant, many a upto “recdra “High n enormous volume of industrials fluctuated . Prices were depressed ear! in the week by a rise {n call mone; rates to as high as 5 per cent when called loans to meet requ for the heavy October 1, diy disbursements. The 13 strain coincident al Reserve bank's fa- vorable action paved the way for a vigorous recovery under the leader- ship of United States Steel, General ng during week moved up more thirty points to a new peak zure at which the equired by Ward tn- ing a hugh merger. es were sluggish in the face of further expansion of thi freight traffic and indications tha’ August ear of the carriers would be unusually large. Many. of them hov , Joined in the general recovery te in the week. o to) lining Locations Urged the U. 8. senate committee on. pub- Me lands, which {s closing its two- day seesion at Casper Saturday. The remedy for the circumstances, Bartlett stated, would be to require locaters file with the land office each time, and that surveys be required when the entry is made on surveyed land, with itles to government cor- ners ciently correct’ to permit the platting of these claims in the land office plats. , Casper Tribune) NEW YORK, Oct. 3.—The markets three great American’ food prod- meat, bread and fish have wn extraordinary activity under velopn which, in the long run, aise lower prices fits producers, y will not be lowe: 5 ter two products were tnflu- a marked degree by pros- {dations which would numerous plants under one livestock markets 1 by the prospect of 1d moderately priced and other feeds. The compiled over wide able correspondents f around 2,859.- however, : Commodity Trade News Food Price Reductions _ - Predicted for Future A bread price war seems in the making at Chicago. The leading bak- ery interests there. cut wholesale prices of bread to dealers 20 per cent, making the price of large loaves 12%c instead of 15c and of ,small loaves 8tic instead of 10c. Other con- cerns, it ts understood, have decided to meet this cut. Proparations are almost completed to merge 27 canneries operating in the southeastern Alaska territory. Such a merger, it {s felt, would yield immediate results in elimination of some plants and the more efficient operation of the remainder. together with a diminution of the cost of the fleet which carries supplies and packed products. Options of the twenty-seven plants have been taken and it {s expected the consolidation will be closed in the next few days. Coal, —Increased Interest is strip coal mining tn fr counteis where es close to the # ton and Maine ded a contract for sland Creek coal to ° d conipany for de- 12 months beginning and running one year. Steel, ETROIT.—Carl Zopotife, man the ore mines of the North: c, estimates that the Lake ict will last 100 years life of the mines of will be 20 to 27 Wool. SAN ANGELO, Texas.—Contract- g for fall wool has not yet begun west Texas, but mohair from ¢ ats {a bringing BO cents a r s boc ing y om, N ¢ dry goods rt slowed down, wir neertainty of the cot- market. les and | for September, “however, were * far ahead of the corresponding month for the lart four years, ‘Collections have fallen off. MANCHESTER shoe factc H.—Of twen- in this o less shoes per was a year ago when one of the most serious depressions in history was experienced. Bix of the large shops are working at ca- pacity and most of the others are reporting better than average condl- Uons. rult. SAN FRANCISCO.—The Califor- nia Pear Growers’ association {s dis- tributing $1,500,000 to growers whose crops have been scld at an rage of $72 @ ton, Railroad Equipment. PHILADELPHIA.—Forty locomo- tives will be shipped this month to foreign raflronds from the Eddy- stone plant of the Baldwin Loco- motive company, | Dairy Products. ST. PAUL—Butter prices have adyanced five cents a pound here |this week, producers being pald 60 cents for creamery firsts and 62 cents for butter fat. Eggs have also risen to 30. co; a dozen to uipments producers. Pipeline for La Barge “ield Is Held Probable of a pipeline from > the newly Aeveloped Barge field & prospect of ad ediate future according to re- trom Kemmerer, which state | rnia interests have such | under consideration In| th this program the Wyotah: Beneficial! company js making prep aentions for the erection of u 35,000 tr Hobie at Lae toai.sce tc test more thor pleted last Junie. The company bas the railroad in Lin-| several 1,000-barrel tanks standing | full of crude at the present time, The shallow depth at which good Production {# obtained) forecasts rapid development for this district. The latest discovery ts the comple- tion of Newlon No, 3 on holdings Stocks and Grains New York Siseke: Last Salu By Blas Viecarevich Allls Chemical and Dye - American Can American Car and Foundry | American Locomotive American Sm. and Ref. — American , Sugar | American Tel. and Tel. { American Tobacco --- | American Water Works American Anaconda Atchison Atl, Coast Line -. Baldwin Locomotive - Baltimore and Ohio — Bethlehem Steel California Pet. Canadian Pacific Central Leather, pfd. Cerro de Pasco ~ Chandler Motor Chesapeake and Ohio Chicgao and Northwestern Chicago, Mil & St. Paul pfd. - Chicago, R. I. and Pacific Coca Cola - Colorado Fuel - ‘Cungoleum-Natrn Consolidated Gas - Corn Products Crucible Steel Cuba Cano Sugar pfd. - Davison Chemical Dodge Brother pfd. Du Pont de Nemours Electric Power & Lights ctfs. General Asphalt General Electric . General Motors - eat Northern pfe Gulf States Steel - Hudson Motors Illinois Central ~ Independent O. and Int. Hervester Lt. Mer. Marine Int. Nickel -.-- Kelly Springfield - Kennecott Copper Lehigh Valley --- Louisville and Nashville - Mack Truck Marland Ol! Mex. Seaboard Olt Mid-Continent. Pet. Mo., Kan. and Texas Missourl Pacific pfd. Montgomery Ward Nat. Biscuit Nat. Lead New York Central — N. Y., N. H. and Hartford ‘orfolk and Western North American Northern Pacific Pacific Oll Pan American Pet. Pennsylvania - Phila and Rdg. Phillips Pet. Pure Oil B. Reynolds Tobacco B St. Louls and San Fran. -. Seaboard Air Line Sears Roebuck Sinclair Con Oll Southern Pacific . Southern Railway -. Standard Oil, Standard Oli, Stewart Warner - Studebaker — ‘Texas Co. - Texas and Pacific Tobacco Products Transcont. Oll - Union Pacific J. $8. Cast Iron Pipe 8, Ind Alcohol — vu. . Steel Wabash pfd. * 70%4 Westinghouse Electric — 74% Willys Overland 26% Woolworth ...- 179 Chrysler —. a 187% Wyoming Oils ta Quotations by Blas Vucerevich, froker i 203 Consolidated Royalty | Building | Western Exploration . 2.85 3.00 } Consolidated Royalty - 9.50 10.00 | Central Pipe! - 55.60 B. T. Willia 08 09 Beesemer - 08 ) Weste: ates . ~ 06 08 Kinney Coastal 06% Columbine Jupiter Elkhorn : Domino ..----- 4 Royalty Producers ---- Sunset Pleardy Atlantic Petroleum Great Northern Quaker Ol! .. Chappell McKinnle ~ Merrico Royal Buck Creek - Riverton Pet ATE Curb Stocks, Prairie — Mountain Producers - Salt Creek Produc: Continental -. New York Ol! - Salt Creek Consolidated 8. O, Ind. Humble Oi! Ohio Oil (Rabe al aE ire a At the ond of the service a jovial member of the congregation ap- proached the minister and said: “I on{fpyed your sermon this morning. T welcomed !t like an old friend. I have a book at home containing every word of it.” “You have not,” said the preacher. “T hav “Well, send that book to me. I'd like to see it." “Tl send it," the humorist. re plied. Next morning he sent an un: abridged dictionary to the minister, proach of winter weathermit being possible to drill them to production within a few weeks’ time, The Elkhorn Ol! compeny at last | of the Wyoming Reserve Ol com- Che Casper Sunday Cribune CHICAGO, Oct. 3,—Decembef’ and May wheat prices fell off to new low records for the season toward the close of today’s grain market} December selling at $1.34 and May to $1,35%. Corn was lower in pathy, December closing at and May at Sic. The decline resulted in part from large shipments of Canadian wheat to Minneapolis and reports of large orders afloat for Europe. Earlier in the week extreme setbacks had de- veloped from the enormous accurn- ulation of supplies in Canada with no adoquate relief in sight. Wheat showed a net loss for the week of from eight to ten cents a bushel. Increase in the world’s visibie sup- ply was another bearish factor that resulted in persistent hammering by speculators for the downturn. Provision prices reflected sharp breaks {n the price of hogs. BABSON PARK, Mas. Roger W. Babson has just completed a study of the financial situation. His general conclusions are that con- ditions are sound and, unlees some unforeseen event happens, money should continue easy. ‘There are, however, a few fact which de- serve special consideration. Con- cerning these Mr, Babson comments as follow Decrease In Postal Savings er since the postal savings system has been established there has been an almost steady increase in deposits. .The last two or, three months, however, have shown a de- cline, both in total deposits and in the new deposits of each month. The last month's report shows a decrease of over $500,000. It has been sug- gested, owing to the large amount of advertising being done by regu- la> national banks, state banks, and trust companies, that this decrease may be due to people withdrawing thelr savings from the postal sav- ings banks and depositing them with the regular banks In order.to get the higher rates of interest which the regular banks pay, A report issued by the Federal Reserve Board on over 908 banks having savings deposits totaling about eight billlons of dollars shows the following: “These 902 banks had 83,000,- 000 on deposit July 1, 1926, compar- ed with $7,450,000,000 on deposit July 1, 1924. If we will take 6 per cent of $7,450,000,.000, the amount on de- posit July 1, 1924, we find that a year's interest on this sum amounts to about $450,000,000. This is just about equal to the gain in deposits in these 902 leading banks having savings departments. This shows that a very large percentage of the gain in savings deposits comes through accrued interest rather Oct.” 3.— than through new deposits. Cost of Living fact that peo} less money today counted for by the great develop- of the automobile industry and | NEW SHARP SETBACK . Early Strength Saturday Cancelled When Bear Traders Seize on Reports of Large Canadian Imports. FINANCIAL DANGER SIGNALS REVIEWED. Roger W. Babson Points Out Important Factors | _ for Investors to Watch as Guide to Possible Developments. by the fact that people are spend- ing so much today on luxuries and pleasures. additional amount of increased savings; namo- ly, the cost of Uving {s apparently turning upward again. The Bureau of Statistics of the United States Department of Labor wholesale prices on 404 commodities are now rising about 114 a month; that farm products have jumped in the past year from’an index from 139 to 157; clothing from. 139 to 157; and miscellaneous commodities from 113°to 143. fuel, Ughting, furniture, are just about the same as a year Today's range of grain and pro- vision prices follow: Open High Low Close Wheat— Dec, ---- 1.34% 1.36% 1.33% 1.34 May <..- 1.56 1.3545 Corn— Dec, - 75% May - 8315 Oats— Dec, - er) May = 45% Rye— Dec. --.. 79 79% 78% *.79 May ...-- 86% 88 84 85 Lard— Oct. -16.40 18.70 16.40 16.63 Noy. 16.95 16.17 15:95 16.07 Ribs— Oct. ...-16.55 16.55 16.50 16.50 Bellies— Det. 18.49 18.50 Nov. 16.95 Fd oe There, reason however, for, the is an small shows © that per cent figure of 141 to 162; foods Most of the other such as building materials, etc., are items, ago. It ig said that the price of re- tall products’ will show an advance of about 3 per cent over last month. “Although the general impression {s that rents have fallen off, yet real estate men are claiming ‘that rents throughout the country ‘are not de- clning to any marked extent, al- though rents may decline in the near future. The National Assoclation-of Real Estate Boards now states that rents are more steady than for-some time past, although local over-bulld- ing in some sections *has caused a downward tendency in that special ection. Out of 100 citles reporting to this association it {s found on an- alysis that residential rents are sta- tionary. in 70° of them; 19 of the cities indicate a lower level, while 11 report residential rents on the up- grade. Thero seems to be a siort- age of residences in cities of popu- lutions under 25,000, while rents, are tending to weaken tn the larger cit- jes. ‘In other words, there is an .in- creasing demand for .small single fainily residences, while apartment construction seems to have caught up with the demand. © “ How Interest Mounts Up “When an investor, considers bonds and preferred stocks he nat- urally is interested in getting as high arate of Interest, as po; The higher. the (OUT OUR WAY NOW Tus 19% oor mosT. ! FASHIONABLE OuTRAT FOR seports feels greatly encouraged ny at 911 feet It ie showing for | over tts prospects. Its test is lo lourputter, Other teste of the | cated lower on the structure than vyvetare are reaching tnterewting | some of the best producers, but hope epths «nd reversal new operations | {s held out that the same sands will ss enrountered ‘ OUR DANDY OL SENSIBBLE. MA. , MES) 1 SEE TT,15- WELUTHAT WOULD 7, LAST MY ABOUT AS. LONG AS A TISSUE PAPER STRAIGAT JACKET ON A WILD CAT - I DONT WANT STILE - L WANT SOMETHIN THAT LL 4 NEAR: a ~ alae ASS es ~A CaS stock or bond, the better pleased in- vestors are, and the more rapidly the bankers can sell securities. is generally accepted as good news | to have bond and preferred stock issues over-subscribed and to have them sell rapidly. We all forget to think that the higher the rate of interest, the greater the burden on society; and the mare securitier sold, the greater the interest charge which must be éarried by the na- tion. There has been no time during the t twenty years when this total interest charge has been in- creased at such a rapid rate as dur- ing the past ten months. This is a real danger signal which must be watched. It ig an old saying that the dancers must pay the fiddlers. Tc is well enough to borrow money, but unless that’ money is properly used for permanent improvements h are reducing operating ex- penses, it will ultimately bring dis- aster to the borrowers. “The gr dead welght of interest charges is being most forcefully brought to the attention of the world today in connection with the refund- ing of the foreign loans. It will be remembered that In the case of the Pelglum debt, which was settled a few weeks ago. that the accumulated interest amounted to more than the original loan. This will be even more clearly emphasized when the refunding of the. French and Italian debts is discussed. In both of these cases the published figures will prob- ably show that the interest ts today ® greater figure than the original debt, and will become, in the course of years. an almost unbelieyatly large sum. . General Business “General business is beginning to | pick up. The Babson-chart which reached the low polnt of 2 per cent below normal in May of this year is now up to 1 per cent above normal. Most of the business statistics show an improved eltuation, and there ts also a distinctly better sentiment Prevailing throughout the country. Of course early frosts have caused disappointment in certain sections, and as usual the farmer is seeing the dark slide instead of the sunny side. “Personally, I believe that the crops for 1925 will show up distinct- ly better than 1924. An analysis among business men seems to show that the complaint is not in the vol- ume of business, but in the profits. Hence business men should look for ways of increasing efficlency rather than mourning about conditions. Fundamental conditions as a whole were never better than today. I mention some of these danger sig- nals, not with the purpose of dis- couraging anyone, but simply us a warning that we may not do any- thing to hurt these fundamentally ood conditions: We live in the finest country in existence and we should employ every means to keep itso,” | Business Briefs ATLANTA.—Early reorganization of the Atlanta, Birmingham and At- lantic railroad is forecast by bond- holders becauso of prosperous farm, ing. and business conditions in south Georgia. Tho line extends from Birmingham and Atlanta to Bruns- wick, CHICAGO.—New construction in Chicago for 1925 will exceed $329,- 000,000, a new record, according to the Landis award committee.. Sep- tember permits exceeded $22,000,000, which is a substantial Increase’over a@ year ago. For the year thug far, construction has exceeded last* year by $68,000,000. BILOXI, Miss.—A contract for a bridge across the Bay of Bilox! to cost about $400,000 has been award- ed to A. M. Blodgett, of New Or- leans, who will start work imme- diately, ———————.——__ Forged English banknotes have been circulating in such numbers lately. that in one restaurant in London, nearly 100 were passed to the cashfer in a single week. SAR (©1825 BY REA SERVICE, MC, * SUNDAY, OCTOBER 4, 1925 — Motor Securities in New Light. It is a sound rule of investment practice to give the preference to securities of corporations engaged in essential industry and to look with extreme caution upon new and untried enterprises. It {s not my purpose to dispute the value of this course. It may, however, be car- ried to excess and when an investor has sufficeint capital resources he may with advantage go outside those mits. Now for many’ years railway stocks and boads have been in high favor, not only with individuals but with financial institutions as me- diums for employing their funds. Probably more money is invested in railroad obligations than in any other form of corporate securities. So far the automobile industry for the most part has been left to the speculator, or at least to the investor who is able to take a good deal of risk. It is my opinion, however, that the time has arrived when conserva- $20,000 PAID WYOMING VETS EVERY MONTH Average of Compensa- tion Payroll Given by Bureau Officer. -» oe For the first time since the origin of the regional office. of the United Stays Veterans’ Bureau at Casper, Wyo., it is possibie to give’ the pub- lic of Wyoming, the amount in dol- jars and cents that is being expend- ed yearly forgcompensation for dis- abled ex-service men and women now residing in this state. James H. Jones, special disbursing agent for the regional office at: Cas- per says the amount paid to disabled ex-service men and women entitled to compensation during the month of July was $25,160.26 and that this amount is nearly an average of each month's compensation payroll. Allowing for transfers of entitled ex-soldier from this office to other offices, he furnishes an exact aver- age of a $23,160 monthly compensa- tion payroll., This average gives an annual compensation payroll of $277,- 920. ¢ Since. Wyoming has no general hospital where disabled«men congre- gate for treatment this amount is fairly well distributed over the state. This figure includes a few compen- sation claims of men at the United States Veterans’ hospital No. 86,.of,] Sheridan, Wyo. With the’ exception of a few, the cases rated permanent and total‘are being pald from the central’ office, Washington, D. C. United States Veterans’ hospital No. 86, has nearly 300 of such cas‘s at present, and they too, WHIl eventu- ally be paid from this office. Mr. Jones further states that “the vocational training payroll.” due to the fact that>this department is about ready to close up shop, shows a marked decrease. The payroll for July of vocational students of Wyo- ming amounted to only $7,979. This is the lowest mark ever reached with that payroll since the beginning. A monthly average of this payroll is given for the last year of $8,050 making the annual payroll amount to $96,600. A very small percentage of this amount has gone to yoca- tional students training at the state university the last year, but the bulk has gone to women and men train- ing ‘on the job” and located in al most every region of the state. NOTICE TO The trapping season {s here. trapping supplies. Coyote Scent a WRITE 518 West Yellowstone Everyman’s Investment | ‘We can supply you with all kinds of satisfactory we guarantee to refund your money. Get our figures on Hides. Pelts and Wool before shipping elsewhere. OR CALL ON US FOR PRICE QUOTATIONS GREEN & COMPANY CASPER TRIBUNE Lz asem ait] MARKETS WHEAT PRICES GIVEN tive investors can afford to put @ part of their funds into nfotor car securities. The phantom of the saturation point, meaning the time when there will be no first buyers left to acquire automobiles, ts no longer feared. The rep!acement de- mand is so large that it together with the growth in population, to say nothing of the export possi- bilitles, may be taken to furnish sut- ficient business for the automobile manufacturers that they need not worry about over-preduction any more than the steel companies, the shoe manufacturers or the building trades. At one time or another there is over-production in all these flelds of endeavor but that does not eliminate opportunities for investment in any one of them. So it has come to be with the automobile which is now established as a necessity in our modern civilization. It mey be a little more difficult to select motor car investments than it is in other ines but the opportunities are just the same. ( Crude Market Salt Creek, 36 to 36.9 gravity ~$1.79 Salt Creek, 37 to 39.9 gravity .°1.37 Rock Creek weces 175 Blz Muddy cma Elk Basin —. waewen= 1.90 dat Creek —-—-—......_ 1.90 Lance Creek ~—.-----..--.. 1.90 Grass Creek, light -. eonnne 1.90 Greybull ~--..-..... wooeee 1.75 Torchlight * --..-<-~----eene 1.75 Mule Creek -.-----_----_-_.-- 1.25 Lander ewww enn —— «70 Osage -----—----- Sunburst ---..-—-.-_-----.. 1.55 Hamilton Dome -.....--—-. 1.05 Ferris -~..-------—--—----— 1.05 BYTOM wmenan sen nnnnn nena 1.50 Notchae -. - Pilot Butte -—-—-—._-_. 1.86 Ss Tell the Advertiser—-"I saw it in The Tribune. FINANCING Do you need capital thru sale of stock for promotional or expan- sion purposes? Our inexpensive, easily operated, quick mail order method mailed free to legitimate corporations. 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