Casper Daily Tribune Newspaper, October 25, 1925, Page 8

PAC PAGE EIGHT DAIL Y |___setewcm = | TRIBUNE The Casper Sunday Tribune SUNDAY, OCTOBER 25, 1925 -e 7 “MARKETS PRICES SWEEP | UPWARD AT GOTHAM York Market on Strength of Many Factors Showing Prosperity. st Monda mendoy lowed . which n of the unpre More ands daily. stocks including millio bares c ed han two-hour trading ng being tically In the advance which had not respon¢ period, New high prices for the up for Unit common, nerii American company v titude t ward curity pact were factors Restor ation of confidence was marked by 2 flood of buying orders and a tre- rading volume Bullish Enthusiasm Continues to Gnp New ket were resumed early in the week had.been given the oils, led to the up- ward movement of recent weeks. companies the regarded that entered to the rs | Steady ase was also reported ATR to 18 but Chandler/in unfil ers of the United fotors receded from its sensational |.6tates Steel corporation, 5-point as one of best barometers B h activities in the stock mar- industrial prosperity. American Loans Abroad To Exeeed Billion For Present Year, Report ot By J. ©. ROYLE leaving a net total of new (Copyright, 1925, Casper Tribune) ties offered at public WASHINGTON, Oct. 24.—Loans| sale to American Investors this year of $655,430,000. by jAmerican, inventors), to. Zorelen| ier. uaitionaliicans ‘owsin egdtia® countries and corporations during| tions to countries which hare not 1925 will exceed $1,000,000,000. This} come under the strictures of this detpite the fact that the treasury partment of the United States is government will bring the gross to- tal of new foreign financing for the frowning upon new advances ti fcr- ear above the billion dollar mark. eign governments and their business] These loans do not include the in erests, which hava not made sat-| volum of bankers’ credits, which istactory arrangements looking +to| have been placed at the disposal of the payment of thelr war loans.| foreign governments and banks to New ‘loans floated by foreign gov e exchange. Vy and cor ations in the hese has been $40,- rkets of the United States redit to the Danish gevern- e first nine months 0” thi amounted to $849.4 to reports to t nent.. Of this ar $50,000,000 to three Italian 1d the $300,000,000 credit to of England and the British nment to aid in restoring the represented ref: a basis of gold exchange. we w. : es i © Developments Lacking nee c n LaBarge Oil Field Gr Oo 5 # KEMMERER, Wyo., Oct. ‘The camp of the Fawcett interests ose No new developments on the north line of the BW of a week in the LaBarge oil f Sec, 3, Just below the Newlon wells lo eral drills still being operated, been completed, and ipcludes tri mothing outstanding to show one 24 by 40 and one 14 by 24 build- - other than more hole. Announce- The standard rig of these in- o. «Ment Was made that the Wyotah- was shipped U Beneficial interest, which brought if Mont., October 13, and will 4 in three excellent producers during in th if It is the in- have decided to ion to proceed at once with the ze fi tile present, | erection and operation of this big eir efforts upon saving at hand, and rig on this ground. The same interests hate erected a | oy marketing |camp and have spudded im on Sec. te 23 within the past week, and report t 4 50 miles| Was that the drill was down 100 t no pipe li feet. on {al company — 1 Kaycee Test Projected. er SHERIDAN, Wyo., Oct. 24.—A 3 b test of the Kaycse Dome through ie } en erected in the rec five sands to a depth of 2,180 feet a to augment tankage of 4,00 will be made before the close of ll as the oll] this year, if the drillers have favor- n will start} able weather, it is believed here by 30 th 10,000-|C. L. Sackett, Owner of the equ’ te ment and holder of the permit on a tions ¢ © Newlon, Asso-| the well site. tus clated Producers, and Elkhorncamps| J. C. Snook, who drilled the PE re being continued, while the | covery well in Muddy field and wh 2 ‘Transcontinental, accordins to re-|is a contract driller in Salt Creel “e rt. the tools h n Is drilling the well and has a f k: hing job is in p of men at work at th rf =) < ; . “ Beans HAMMOND crop in > iin d or La.—The fall New busi- below produc. cr Sugar y ORLEANS ctured to enable them to The pres: 00 cents at this t je last year. Stock MARGIN ACCOUNTS SOLICITED Hill, Weaver & Co. GLADSTONE HOTEL BUILDING Phane 3024 s Bonds Grain ~LOCAL OILS — FAST DIRECT WIRES bean y 8.42 cents as compared w d —The Associated @ pound on raw sugars ae § | al section is'so large that s Central ratlroad has just | Phila. and Rdg. C. and I, . Phillips Pet. Pure Oil Radio Corp. F Reynolds Tobacco B si Seaboard Air Line Sears Roebuck - Sinclair Con. Oil — Southern Pacific .. Southern Railway from Great | Stewart Warner Texas Co. Tobacea Produc |U | Wabash pfa. Ch: e “bean special” train to | Gin move the crop to market. Good | py, rrices have been r-celved so far. By Bias Viecarevich Allis Chemical and Dye —. American Can American Car and Foundry — American American American American American American American Anaconda Atchison Atl. Coast Line Baldwin Locomotive <. Baltimore and Ohio Bethiet: m Steel Pet. Pa Chandler Motor Chesapeake « Chicago ang Northwest Chicago, Mil. and St. Pa Chicago, R. J. and ‘Pacific Cols Congole Consolidated Corn Products Crucible Steel Cuba Cane Sugar pfd. Davison Chemical — rs, pid. Du Pont de Nemours ~-. - 205 Electric Power and Light, ctfs 32% Erie First pfd. ~. Famous Players General Asphalt General Electric —. 305 Genera) Motors - 132% Great Northern pfd. ~ 74% Gulf States Steel - 85% Hudson Motors Minols Central Independent 0, and G. Int. Harvester -.- Int. Mer. Marine pfd. Int. Nickel Kelly Springfield Kennecott Copper ~~. Lehigh Valley ~~. Louisville and Nashville ~ Mack Truck -s- Marland Oil -. Mex. Seaboard Oil - Mid-Continent Pet. Mo., Kan. and Texas ~. Missouri Pacific pfd. - Montgomery Ward Nat. Biscuit ~ Nat. Lead - ew York N. Y¥. Cengral . H., and Hartford Norfolk and Western North American Northern Pacifi Pacific Ol Pan American Pet. B Pennsylvania Reading -. Rep. Iron and Steel . it. Louis and San Fran. - N.S. Studebaker --... Texas and Pac! Transcont. Union vu. 8. Uv. 8 U Cast Iron Pipe Ind. Alcohol ~ 8. Rubber ~--- S. Steel Westinghouse Ele Willys Overland —.-. once Woolworth ats 1 ler Re Wyoming Oils i Quorations by s Broker 203 Consolidated Royalts iiding e n E tion . ‘onsolidated Royalty “entral Pipeline 3.25 ~ 9.80 10.00 60 11% a4 55 10% Elkhorn Domino Royalty Sunset Picardy ~ Atlantic Petroleum Great Northern, 1,000_ on . ston O1!, 1,000 Curb Stocks. Prairie Ol! -..--- tain Producere reek Producers York O% Che Creek .--ceeeenenee- Muddy ------------~--—--- Basin —~~-~.---——--eo- Creek ..-. ance Creek --~~-~--~-------—~ rass Creek, ight —--.... OYOUN! eeewecwnn: chlight © Creek --e-e- ae ander enge ret Dome ...s. GRAINS WEAKEN AS HOLDERS UNLOAD Reports of Large Acreage Gains in Foreign Countries Leads to Heavy Selling by Speculators at Chicago. CHICAGO, Oét. 24.—Wheat prices]/ The provision market declined on closed the week at lower levels on; unusually large deliveries on Octo the exchange here as the result.of| ber lard contracts. heavy selling launched by a well] ‘Today's range of grain and prd- known eastern speculator and fol-| vision prices follows: lowed by other professional traders. Although the early trading of to-| wae#t— Open bet rte Mtr day's brief session developed con-} He <7 745 TS] 10% ioe siderable strength on reporte of] hy "liq yey 124 124% Liverpool advances, these gains | July | ---- 2 were largely cancelled on prospects of better weather conditions in Ar- ae gentina and the closing was unset- aL tled, with December selling at oe $1.42% and May at $1.40%. Decem- ber corn was marked down to 73% 38% cents in closing sales and May to 43% 78% cents, larger receipts at Chi- cago being a weakening factor in 80% 81 89% 80% board demand. "86% 186% .85% 86 Special attention of traders was directed this week “to announcement 15.15 14.77 18.10 of Secretary Jardine of a 50 per 14.75 14.40 14.75 cent increase in wheat acreage in Australia, Canada and Argntina. 15.40 Many speculators lost no time in meet Posts : closing out holdings that had been | Bellies— . retained on rumors of s corner on} Oct. ---+ --< ---+ 15.45 December contracts. Nov. -222 errs eevee 14.97 BABSON DISCUSSES THE OIL SITUATION World and Domestic Production Reviewed From Standpoint of Possible Shortage; May ; Play Part in Next War. BABSON PARK, Mass., Oct. 24.) slbilities of fuel olf in connection —"While we are discussing the} with operating our industries and bountiful crops of the country at] heating our homes. In most of our this time of the year,” sald Mr. Bab-| cities today less than five per cent son, in an interview yesterday, “we]|of the homes are heated with oil, must not forget the great oil crop| and experts state that we shall live which is annually being produced./to see the time when ninety per This crop has not only brought huge] cent of our homes will he heated by wealth to individuals and families, | oil, gas or electricity. The con! cart, but it has been a great factor in| like the ice cart, will disappear from making cities ike Los Angeles, and} our ci streets during the next ning the basis of great prosper-| twenty-five years. The use of oil for ity in states like Oklahoma. Of] was} fuel in industrial purposes has bare- doubtless a real factor in causing|ly started. the World War and surely it was ot “During the recent Wellesley Bust- major importance in connection with | ness conference the secretary of the the waging of that war. It will ne} National Automobile association an even greater facior in conn’ stated that the United States eatura- tion with the next war, if we ar tion point for the automobile would be, in his. judgment, about thirty million cars. This would reequire double the present consumption of gasoline. If we consider that the same principle of growth applies to the other uses of oil, we are as- tounded with {ts possibilities. Furth- er, is it fair to assume that all of its uses aré tow known? May not 80 unfortunate as to vere have another The following table gives an ides of the increase In oil production the past few years. Crude Oil Production in United States. Number of Barrels. 42,929,000 1920 1921 1922 to year, uses which we do not dream of today? I belfeve they will. Yes, I believe that the oll industry’ is as sound an in try as we have in America toda Stock Market Situation. 1925 Question of an Oil Shor j) “Now and then business r disturbed by statem: | soon will be an oll shortage. | some scientist makes a has ov perhaps jit comes from gandists who are interested in boc ing the price of elther the commodit ofl securities, There, however, d be no fear of such a shorts o long as we live. At the present time: there is petroleum enough in ‘age to last about a year. When we consider the available sup- ply under ground already blocked out and located we find there is | enough to last forty years even cor | sidering the great possibllittes for | increased consumption. This is on | the basis of known déposits and not jexceeding eight or nine thousand feet below the surface. Everything leads statisticians bell how- ever, that operators will continue to “Every reader knows, in a gener- way, what has happened to rails nd industriols the past few years in the stock market. advanced f | high These stocits ollowing the armistice to prices during 1919 and 1920, Then there came a decline tn 1921 h some recovery in 1922. Con- siderable of a break occurred in the epring of 1923 and the market de- clined until shortly before the elec- tion of Calvin Coolidge. Since that time we have had a great advance in the prices of railroad and indus- trial stocks, exceeding anything that s been in past history. In a general way the market for securities followed the general market after the armistice and had the same break in 1924; but since then'ofl stocks have remained mdro or less steady. Of all stocks I would oil to drill deeper and dee and that} Say that oil stocks were, perhaps, wells will go ten tt twelve | today selling nearest to their true and | Value. This does not mean that they thousand and even fi | feet deep. W . going en thou 2 will not decline with the general market, &nd there might even be a boom in ofl stocks sometime in the near future. Generajly speaking, by nd this at a tremendous | will. be ilable. however, I will say that ol! stocks “If drilling becomes deeper, are selling at a fair market price at only ts more oil available in te: which, {€ necessary, one could hold tory already being drilled, but oil will be procured from territory that them duringa decline in the general market. Surely the oil stocks are a is producing nothing at the present | safer investment than any other ip- time. For instance, only about ten | dustrials. There ts destined to” be per cent of te present surface ¢ © | Some great surprises and disappoint- United States is producing oil, o ments for some people who are now yet geologists state that nearly sixty | indiscriminately buying industrial per cent of the United States is cap-| Stocks without any idea of their in- able of producing ofl if the wells| vestment values. are drilled sufficiently deep. States Consolidations in Order. w Mexico, Arizona, Loulsiana,{ ‘*"Fhirty to forty years ago the en- ma, Mississipp! and Georgia] tire of? business was shot to pieces. ybably contain oll, while Florida] ‘The producers were making no s excellent oll prospects if one will] money and the public was getting drill deep enough. This deep drill-|a very poor quality of oi] at a very ing should increase the eupply of o!l/ high price. It was this eftuation to at least one hundred ars || which caused Mr. Rockefeller to re though {t will add to the expense] habflitate the industry and bring ot production, about consolidations which ultimate “The above statements ore based | ly led to the formation of the Stand- mn production figures in the United|ard Of company. Although Mr. When oné adds to this the | Rockefeller: been greatly abused ity of getting oll in Canada,|I am sure his motives were of t! ia, and Africa it will become two | highest. During the yeare that the | or three centuries before we can see| Standard Oi! company was at its us shortage. Moreover, in this| zenith, we were receiving from imate I do not include the possi-]| them the finest quality and the low- | olity ef extracting the oll from] est priced of! ever known. Since the e and coal and other deposits} United States supreme court dis- | which so freely abound. solved the Standard Of company Uses for Oil Increasing. we have had confusion, worse than When I was @ boy oil was used| ever before. The of] industry needs for kerosene lamps and for lu-|a Rockefeller at the present time to cating machines, John D. Rocke-| straighten things out, both as to the lier had no more idea that we] production and eale of oil. 4 be using automobiles today “The other day I saw a sign on we have that our grand chil-|a2 street corner reading follows: 11 be using machines to read “Cheer up, little corner, do not thoughts. The automobile as an absolute surprise to him cry, You'll have an oi] station bye ang i of tar and oll in connection bye. building is an indus “For Sale, apply to the City Real: ently grown It y cornpany ‘ 4 few yours ago that t realize t The present situation of compett- compariies with filling stations on corners of the same cross roads is utterly foolish, as is the competi- tve advertising which ts being done by these ofl companies, especially bil board advertising. These uneco- nomic conditions must shortly bring about consolidation both among the producers and the sales companie: These consolidations will be a good thing, not only for the etockholders but for the public as well Then the cost of selling can .be greatly cut down, and the public must of neces- sity get a portion of these savings. | “TI, however, do not wish to be mis- understood as to the ultimate future of these selling companies as I be- Neve they have a great opportunity. The street corners which these oil companies bought will greatly in- crease in value as they represent the most valuable sites available in the cities. The use of of) will in- crease and the business of these dis- tributors will grow likewise, More- over, the future price of oi! {s not of importance to them as they merely are merchants, buying and selling and taking their profits. The oil in- dustry is fundamentally sound, and the retailing of oil, although tempor- arily- overdone, has a stable future, The {mportant thing to remember in connection with ofl is to work with good people. Keep away from the speculative stocks, avoid wild cat ofl stocks and wild cat speculation. Deal with real of! men who are interested only in producing the commodity and are not interested in the stock market. Moreover, when investing in ofl stocks buy only stocks of ‘com- panies which are operated by hon- est and upright men. Remember that men create values and souls mak men, “Business continues around 11 per cent above normal, by the Babson- chart. This compares with 6 per cent below normal a year ago.” Market Gossip (Furnished by Hill, Weaver & Co., Gladstone Hotel Building). - Pig iron advanced*50c a ton, to $23 in Chicago. General Railway Signal stockhold- ers authorize splitting common 5 for 1 into no par shares. Gold Dust Corporation buys Shin- ola company, manufacturers of shoe polish; offerings of Gold Dust com- mon to figance purchase expected. R. G. Dun reports 824 commercial failures in United States this week against 337 last week and 402 last year. ee Dun's review says business vance which recently has become widespread, {s still progri ng in an orderly and wholesome way. ad- Bradstreet’s says trade and indus- try is more uniformly favorable than «rly in the year, Hercules Powder for 9 months ended September 30, earned net prof- its of $2,818,500, after depreciation, taxes, ete., against $1,510,200 for same period in 1924. Union Switch and Signal, a West- inghouse Air Brake subsidiary, re- ceives orders for interlocking device with 12 levers for Nickel Plate and one with 14 levers for Seaboard Air Line. Peerless Motor applying for list- ing on New York Stock Exchange third quarter sales ran 70 pr cent ahead of third quarter in 1924. New York, Ontaria and Western September net income, $11,017 after charges, against $50,088 in 1924, Mexican finance minister and in- ternational committee of bankers in Mexico, reach agreement for re- t.mption of payments January 1, of Mexico's $500,000,000 external debt, Resources of Provident Building and Loan Near Half Million Mark Here Resources of the Provident Build- ing and Loan association, a Casper concern, through which many have benefitted in paying for homes, are placed at $470,006.68 in the seventh semi-annual financial statement just issued to shareholders. Finan- ces.of the company are shown to be in excellent shape. Officers of the concern include O. L. Walker, presijent; G. R. Hagens, vice-pre.ident; A. J. Cunningham, treasurer, and C. W. Tobin, secre- tary, with Patrick Sullivan, Robt. D. Carey and D, W. Osgilbee, as ad- ditional members of the board of directors. Interest at the rate of ten per cent was credited to installment Loans on members’ certi- shares and savings certificates. for the six months ending October 6. The association's balance sheet of that date follows. Resources Real estate loans... + $441,954.57 ficates ..-.. 7,296.09 Cash in bank......+ «11,408.35 Furnitures and fixtures_.. ‘2,350.25 Insurance anc taxes paid for borrowe-s .... 999.42 $470,006.68 Liabilities Installment shares $206,732.01 Full paid shares ... 26,300.00 Installment savings - ficates ..-< 140,085.16 Full paid mutual -certifi- cates 25,170.00 Undivided profits . 19,216.57 Permanent reserve . 4,926.37 Guarantee reserve ... 16,687.96 Suspense account. 69.00 Stockholders’ suspense. 6,086.03 Depreciation fund. + 296.88 Borrowed money 10,000.00 Incomplete loans 13,956.71 ee $470,006.68 Fight Over Fort Collins — Oil Land Up for Hearing DENVER, Colo., Oct. 24.—(United Prese)—The fight between J. J, Ver Straten and James B. Worth*for poe- session of a 40.acre tract of of] land on the Fort Collins dome is ready for hearing by the state supreme court, with the filing today of final briefs In the case by Ver Straten. The case comes to the supreme court on @ writ of error after the Larimer county district court de- cided last spring that Worth, © farmer, the original holder, was en- titled to the land. The disputed title to the land, which is reputed to overlle rich oil deposits, grows out of a mortgage held by Ver Straten. Until final eet Uement of the suit is made all roy- alties from the tract must be pald into the registry of the supreme court New Lake Creek Strike — Rated at 500 Barrels i) THERMOPOLIS, Wyo., Oct. 24- Predictions that the Union Oil com- pany’s new well on the Lake Creek structure, which bit into the sands early in the week, will develop pro- duction of 500 barrels a Gay when completed are freely made by those who have visited the scens of the new strike The drill tapped the Embar sand at 3,720 feet and oil rose 2,600 feet in th hole. The strike {s significant in that it proves an efitirely new structure in Hot Springs county. Lake Creek, it is believed, will develop into one of the important ofl fields of the state as it ts extensive enovgh to provide a large development pro- gram. The Union holds 5,000 acres, cov- ering the structure, and will begin the sipking of other well without delay. f ing definite can be said at | this @arly date as to the laying of a pipe Mne to the field, ‘but with a subject to ratification by Mexican congress and president. Midland Steel Producers’ Septem: ber 30 quarter net profits were $517,- 454 after interest, depreciation and federal taxes against $476,388 in d quarter, 1924. number of producers at Black Mountain and the new Lake Creek strike it 1s safe to say that such a carrier will not long be delayed. The Union company is known ar one of the most thorough concerns ir the ofl business. When it goes into a field it goes in to find out what {s there and this persistent effort under sometimes discouraging conditions has resulted in bringing in the Lake Creek field. —_—_o—____. Pennsylvania refiners have ad- vanced price of fuel of] % cent = gallon. Sor ae ee SPECIALIZING In Consolidated Royalty Western Exploration E. T. Williams Will be glad to furnish any information of any of these is- All stocks bought and Blas Vucurevich, Broker 203 Consolidated Royalty Bldg. Phone 166 | The trapping season ts here. WRITE OR CALL ON US REEN & 518 West Yellowstone |. NOTICE TO TRAPPERS We can supply you with all kinds of trapping supplies. Coyote Scent a specialty, $1.00 per sample, if not satisfactory we guarantee to refund your money. Get our figures on Hides, Peits and Wool before shi, CASPER ing elsewhere, FOR PRICE QUOTATIONS pa COMPANY Phone 2405 You can guide your boy to no courage him to study the life and Make clear to him the qualities of coura: thrift that are the keystones of his char: inspiration. Teach your children to know him And let the principles of the of the Savings Account you may s ‘Economy Makes Happy Hoes and Sound Nations” greater an example than Lincoln. En- the accomplishments o: ‘acter. ge, kindliness, industry and Here is a man of great early. great emancipator be the f i tart in this bank with a dollee Gt CITIZENS NATIONAL BANK CONSOLIDATED ROYALTY BUILDING f this immortal. ee