Casper Daily Tribune Newspaper, December 20, 1925, Page 25

PA SUNDAY, DECEMBER 20, 1925 LARGE.ORDERS FOR NEW £QUIPMENT ARE PLACED BY MIDWEST Installation of Fabricating and Erecting Plant for 300 Derricks Ordered From California Company Assured. ‘A new industry for Casper will re. sult from the awarding of a contract by the Midwest Refining company to the R. M, Smith Steel Products com- pany of Los Angeles for 300 steel dérricks. The contract was award- ed through the Casper Supply com: pany, of whic’ T. C. Tonkin is gen- eral manager, and méans the loca- tion of a small fabricating and erect- ing plant at Casper. The Producers & Refiners corporation's warehouse and pipe yards { neast Casper have Been leased for this purpose by the Smith company and announcement is made that eight or ten skilled me. chanics will be employed among others. Shears, riveting machines and other necessary equipment will be tnstatled, The cost of installing the plant, it is stnted, will be saved by the dit- ference in freight rates on the large order, the unfinished steel being moved'here at a large saving over rates in effect on finished products. The Midwest Refining ‘company has also made provision for field tankage demands of the coming year in a contract awarded to Black, Si- valls & Bryson, Inc., for 50 flow tanks of 500 barrels capacity each, and an order placed with the Park- ersburg Rig & Reel company for an equally large number of flat, seam- less tanks. Both companies have shops in Casper for fabricating and recting tanks. Company Has Big Plans For Warm Springs Field THERMOPOLIS,, Wyo., Dec, 19— Maurice Singer, president of the British Associated Oil Co., Ltd, a five million dollar concern, arrived here to commence work on behalf of the company. They have opened offices in the First National Bank building. Mr, Singer was able to secure the services of B. V. Hole as gsuperin- stendent and a drilling contract has been placed with L. Gokel for the @rilling of their first well in the ‘Warm Springs field. The selection of location by the geologist, Bruce Murphy, is on section 34, and only two hundred twenty feet from a Producing well which derives its Production from the Embar sand. The drilling contract calls for a deep well as far as the Madison sand. A contract has also been awarded c. D, Markham for drilling a well on the Byers ‘ease in the same field. Mr. Singer, who {s also president of the Alliance Refinery, states that next spring the latest word in crack- ing process will be installed at the refinery here. Adopting this pro- cS which is the invention of Dr. B. Th. Hessle and W. Lelgeman, noted chemical engineers, will enable the company to extract over twenty per cent more gasoline out of the oll as they have heretofore been able to do. It is also said that owing to the ichthyol bearing qualities of the Warm Springs oil a plant to make a natural germicide disinfectant will be erected about April this coming year. The ichthyol plant which derives its crude oil from Warm §prings field has been completed at Lemont, Tl, about twenty miles from Chi- cago, and is turning out fifteen hundred pounds of ichtyol daily. STOCKS OPEN STRONG BUT CLOSE IS LOWER ‘American Can Scores Notable Advance but Bear Attack Causes Sag In Motors and Industrials STOCK MARKET AVERAGES Date 20 Industrials 20 Rails Saturday --... 139.26 116.03 Friday ----- 136.15 Week ago ---- 114.73 Year ago 114,73 High, 1925 ---- 1741 Lew, 1925_---. 96.13 _-Tetal stock sales 737,600 shares. NEW YORK, Dec, 19.—(#)—The usual week-end readjustment of speculative accounts brought about considerable irregularity in tcday’s stock market, which was featured by the spirited bidding for American Can, which scored an extreme gain of 7% points at 261%, cloring 1% below the top, Trading in the gen- era] lst was in moderate volume, the day’s sales aggregating 737,600 shares. Pasage of the tax reduction bill by the house of representatives and re- ports of record-breaking holiday trade created bullish sentiment, which was reflected in the strong opening of the market. Except in the case of a few specialties, how- ever, there was little dispositior on the part of traders to bid for stocks with the result that the general in- dustrial Hst sagged when selling pressure was renewed against the motors and a few volatile indus- trials. The subsequent rally in American Can temporarily checked the selling in other quarters, but closing quotations were generally lower on the day. There was nothing in the day's news to explain the renewal of bear attacks on the motors. Chrysler, after being bid up to 197 in the early trading, broke below 192, and then rallied to. 198%, for a net loss of 1% on the day. Hudson dropped from an early high of 101% to 99% but later snapped back to 101%, Olls opened firm but reacted later on profit-taking, Pan-American B and General Asphalt closing a polnt or so lower. Steel shares reacted slightly on selling, presumably in- spired by the seasonal slackening of mill operations, U. 8, Steel com- mon showing a net loss of one-quar- ter at 133%, Bullish operations were syicce: fully conducted {n a number of spec- falties. Woolworth climbed 6% Points to 206%, Rails held relatively firm in quiet trading. Foreign exchangees displayed a firm tone, French francs rallled about four points to 3.84% cents, but lost part of their gain before the close. Demand sterling held steady around $4.84%. Other Euro- pean rates moved within rather narrow and frregular mits. Next Six Months To Be Prosperous in Country By J. ©, Roylo Copyright, 1925, Casper Tribune. NEW YORK, Dec. 19.—Basing his forecast on the sales reports of 800 salesmen of the Proctor and Gam+ ble company and his own Investiga- tions, N. R. Whitney, Ph. D., econo mist for the company, in a dispatch received by the writer today, pre- dicts business in the United States for the next six months will be pros- perous. ) “Agricultural conditions are sound, “with the possible exception of the Iowa corn situation, which, according to my view, !s mainly po- Utleal propaganda. “Farmers have absorbed thelr bank loans and their money Is avail- able for purchases. The construc- tion and bullding contracts left are certainly suffictent to sustain activ- ity for six months more. “The steel business 1s the best in eight months. Bank conditions are sound, altho the outlook {s for slightly increased Interest rates. Un- employment is practically nil. “The foreign situation has been strengthened by the signing of the Locarno treaties, wity France the only sore spot. All these conditions must reflect themselves in increased business and in increased consump: tion in America DRILLING AT CRAZY WOMAN BEGINS SOON The Falrway Oil company {s mov- ing rig, material. and equipment to a well location on Section 7-47-82 on what {s known as the Crazy Woman structure, taking {ts name from the nearby Crary Woman creek, Part of the material {x already on the ground and the rest will be deliv- ered within a few days though ad- have hampered the transportation work, The Fairway Oll company {fs an organization of well-known local peo- ple who are interested primarily in actual development work and who expect to handle the company's af- fairs in the manner indicated by the company’s name. —_ -_> Fruit PORTLAND.—The demand for Itallan prunes is broadening under Atlantic const and European call. Sales of 256 and 35s are beng made at 18%c a pound f. 0. b, dock. The 35-408 are at 11 to 11%c. England is bidding for the larger sizes. > Your old hat made new, Casper verse weather and road conditions Mat Cleaners, 251 South Center St. New York Stocks Last Sale All. Chem. and Dye.--,---.--.; American Can .. Am. Am. Am. Am. Am. Am. Am. Woolen «. Anaconda Cop, Armour of Ill. Atchison -.-.. Atl. Coast Line-.. Baldwin Loco. .. Balt. and Ohio...... Bethlehem Stl. ... California Pet. .. Canadian Pac. .. Cent. Leath., pf Cerro de Pasco. Chandler Motor Chesapeake and Oto. Chic. and Northwestern. 73% Chic, Mil. and St. P,, pfd..-... 19% Chic. R. I. and Pae.. Chile Copper .. Chrysler Corp. .. Coca Cola ... Consolidated Gas .. Corn Products -...... Crucible Steel Cuba Cane Su; Dodge Bros, Dn Pont de Nem. Electric Pow. and Lt. Erie Railroad Famous-Players Fisk Rubber -.. Foundation Co. General Asphalt —..,....... General Electric ...-....... General Motors -... Gt. Nor, Iron Ore ctf: Gt. Northern pfd. -. Gulf States Steel-. Hudson Motors Ulinois Central Independent O. an Int. Combustion Eng.. Int. Harvester - Int. Mer. Mar. pfd. Int. Nickel -----~-. Kennecott Cop, ... Lehigh Valley ....... Louisville and Nash. Mack Truck Marland Oil .. Mid-Continent Pet. Mo., Kan. and Tex... Missouri Pac. pfd. Montgomery Ward ~...-... Nat. Lead -.----.--..... New York Central_,....._.. N. Y., N. H, and Htfd. 22... Norfolk and Western. Nor. American -. Northern Pacific Pacific Oif -----.-.. Packard Motor Car .. Pan. Am. Pet. “B" -. Pennsylvania Phillips Pet. Pierce-Arrow Mot. Radio Corp. Reading Rep. Ir. and Steel-. St. L. and San Fran. Seaboard Air Line-.. Sears Roebuck -. Sinclair Con, Oil... Southern Paciffo .. Southern Ry, -~. Standard Oil, Cal, ------. Standard Ol}, N. J. --.- Stewart Warner -..-.... Studebaker --.-..-------. Tobacco Products -.-. Union Pacific -~. United Cigar Stores. U. 8. Cast Ir. Pipe.. U. 8. Ind. Alcohol., U. S. Rubber U. S. Steel .. Wabash Ry. - Ward Baking “B” --.. Westinghouse Elec. ~~... White Motor --.-..... Willys-Overland Woolworth -.. Montana Power Quotations py Bias Vucerevich, Broker 203 Consolidated Royalty Bullding Western Exploration - 2.60 2.80 Consolidated Royalty . 9.50 9.75 Central Pipeline -.-.. .50 60 B. T, Williams -. -~ i. 43 Bessemer --.. 1008 Western States - wat Kinney Coastal . 06 07 Columbine 06 08 02.08 04 05 Domino - 205 06 Royalty Producers 05 -06 Sunset - 00% 004% Picardy OL 02 Lusk Roy. --. 02 03 Tom Bell 03 04 Buck Creek 20 26 Chappell ~~... we 208 -10 McKinnie Ol! .-... 13 AS Burke -. - 15 Riverton 2.90 Argo -.. 4.00 5.00 Curb Stocks. Imperial ~ Prairie Oil . Mountain Producers Salt Creek Producers ... Continental ..-+... - 24% New York Oil -. Salt Creek Con: 8, O. Ind. -.. Humble Oil Ohio Ol -.. Crude Market Salt Creek, 36 to 36.9 gravity . 1.79 Salt Creek, 37 to 39.9 gravity . 1.87 ROCK Creek maccenseecocennene 1,75 Big MUAY ------enecenwneereee 1,75 TIC BAGIN cocecewewee'eemnesne 1.90 Cat Creek s-ncerenecnemveceee 1,90 Lance Creek sasenn----ceeeseoe 1.90 vass Creek ght ---.--—----. 1.90 POYDUL] soccwneeeeerceceeeneee 1.75 Torchlight -.....--: 1.15 Mule Creek cncopeweneeecercoes 1,25 LANGE? .--ecereeese. 2.70 Osage 2.16 Sunburst 1.85 Hamilton Dome --.-... 1.05 Perris 1.05 THE CASPER TRIBUNE-HERALD COLLAPSE IN RADIO STOCKS. DISCUSSED Babson Draws Lesson From Radio Business in Weekly Interview; Future of Industry Is Secure, He Declares. BABSON PARK, Mass., Dec. 19.— Roger W. Babson today discussed the fundamentals of the radio 'ndus- try, He brings out its tremendous growth and what this growth has brought about, He also discusses the future of the industry. His offi- cial statement follow: Two Kinds of Radio Business “When discussing radio, it should be remembered that there are two distinct divisions to the industry. Tho first division—that for which it was originally started—ws to carry wireless messages. The first com- mercial use was to transmit mes: sages from one ship to another and from ships to the land. ‘The business was founded and grew on this sole purpose. Generally*radio was used to transmit messages across the land as well as across the ocean; Finally great sending sets “were erected in America, Europe and even Japan. The Radio Corporation of America was founded primarily, if not ex- clusively, to transmit messages Be- fore the Radio Corporation was formed, various small independent companies were carrying on inde- péndent business, The United Prult company had valuable patents as well as did the General Electric and Westinghouse. All of these were pooled together when the Radio poration of America was formed, the purpose being to stop destructive competition, useless fighting with one another over patents and to use the combined resources to erect great super-power sending stations throughout the world and thus give efficient radio service. “This great Corporation had hard- ly been formed when radio broad- casting started. Even at the first, the officials of the Radio Corpora- tion looked upon the selling of home receiving sets as merely a by-pro- duct and expected to pay dividends on thelr stock from the message bus- iness alone. They were taken by surprise. The interest in radio swept the country like a great tidal wave. The demand for receiving sets exceeded the most optimistic prophecies. Manufacturers were un+ able to supply orders. Almost ovey night a great new industry -devel- oped in this country, which fs at- tracting as much attention as the moving picture Industry or the auto- mobile industry. Instead of the manufacture of receiving sets being a by-product, it became the big end of the business and the original pur- Dose of the radio industry; namely, the sending Of mesagés, was sub- merged and has been almost forgot- ten. This is a véry interesting {I- lustration of the great changes in business which come onto the coun- try unheralded and which are an- tlelpated only by a few careful stu- dents. “Moreover, we must not for- get that something may happen dur- ing the next few years which will be as revolutionary as the radio, Growth Has Been Too Rapid “In January, 1922, there were only six radio companies of any import- ance. Today there about six hun- dred companies, producing sets and supplies, each doing a large business. In January 19: only two radio stOcks were traded in by the bro- kers In New York, while today there are twenty radio stocks actively traded in on Wall Street. Moreover most of these radio companies have made a lot of money or rather did make a lot of money, at the start. Statistics show that the manufac- ‘ure of receiving sets was exceed: ingly profitable in the’ early days. The industry was agself-advertising industry, hence {it bad to spend no money in interestingypeople and in getting a foothold. The demand for recelving sets exceeded the supply and it was unnecessary to spend any money on selling. Even price was more or less insignificant. The sets were sold at huge profit. These Great profits, however, brought on their own punishment, Any indus. try which offers great profits in pro- Portion to the risic inevitably brings on itself a perlod of very severe competition. “One of the strong. features of the radio message business is its re peat nature. When the Radio Cor poration gets a newspaper or bust! ness house, or even an individual into the habit of sending radiograms, it develops a repeat business, This repeat business compares with the sale of electricity for light and pow- er. The supplying of electricity for use day by day, is a much more stable business than the manufac turo of olectrical apparatus for which one makes only one sale. Hence, thé radio message business was founded on a right principle and some day patient investors in the stock of the Radio Corporation will be richly rewarded. “The sale of receiving sets, how over, is not a repeat business any more than {fs the furniture business or the electric fixture business. It does not even compare with the pho- nograph business because the phono- graph people are able to sell rec ords each month and It {s these rec- ords. that really made profits for them, Of course, it is necessary to buy new tubes once in a while and as sets are being {mproved, those who can afford to do #0, buy the newer sets as they come out. The fact that the sale of sets is not a ‘repeat’ business brings the present Juliness in the industry, with the fecline in profits and securiti Lessons for Every Business Man “What has happened in the radio Industry should be of interest to every business man, whatever his Mine of work, ‘The same principles apply to every Industry. All new Industries have gone through these "ame stages and all new Industries will go up and down corresponding: Hvron .e-0.. 1.80) ly, Every lane has its turning. The Notches -65 | wheels of opportunity revolve slow- Pilot Butte ........ - L3G'dy but are alwayg revolving. The business which today has the largest profits will tomorrow face the great- est competition and next day have the smallest profits of all. Con- versely, the business which today has the smallest profits will tomor- row have the least competition and the day after may have the great- est profits. The time to save money ‘s when you sre maktine tt. The eood old days never last any more than hard times ever last. Hence, the Importance of studying fundamental conditfens and watchin= the great tidal movements of business, rather than the temporary movements con- ing which most business men 10 all thelr worrying Future Outlook e radio industry is nll right. It is now going through the same adjustment that the automobile in- ustry went through some years ago when so mary new companies went nto receivership and even the Gen ral Motors Comnony was forced to reorganize, Many companies will now. be forced out of busines: other companies will be consolidated while Gradually will in- ‘thers will the sertling reorganize, of messages erense and be tho great source of neome for the Radio Corporation of America. The radio industry ts all right for the long pull but just now it Is suffering from. keen com> petition and the present period must he followed by a general house clean- ing, after which the surviving com- nanies will make a lot of money. Of course, certain improvements and new inventions may develop in radio and thus give {t another ereat spurt. The most likely of these !s the development of vision brondcast- ing. ‘That ts, the broadcasting of moving pictures. “When in Washington a few ago, “I visited the Jenkins’ atories and saw the movements of a windmill actually broade»sted 1 transmitted by radio, These were picked up and shown on a screen. It is just as possible to broadcast moving pictures as it is the voice, The Radio Corporation of America is working on a stil! different method from the Jenkins’ method to bring about the same re- Without doubt, radio: vision will some y be an necomplished fact and we can real the morning parer on a screen at our breakfast table. the same as +2 now hear our evening music on the Youd speaker in our Ubrary. Pur- thermore, there are other radio {n- ventions which are being worked out which are even more interesting than the broadcasting of moving pic- tures. The Babsonchart now shows husiness 17 per cent above normal compared with just at normal a year ago this time.” | Market Gossip BY HILL-WEAVER & CO. Postum stockholders will vote on December 28 on a plan to increase capital stock to 1,375,000 shares from 600,000, also on proposal to issue 570,000 shares In exchange for the shares of Jello company. Cc. B, & Q, purchased 13,000 tons of rails from Illinois Steel, 8,000 from Inland and 5,000 from Colorado Fuel, November production of automo- biles in United States was 336,358 cars and 39,893 trucks against 204, 342 cars and 27,905 trucks in No- vember 1924. Dun’s reports 453 commercial fall- ures last week against 432 In pre ceding week and 422 same week last year. Bradstreet’s finds retail trade greatly stimulated by holiday buy ing while wholesale business has slowed down and jobbing trade has quickened with rec busines Sterling products declared regular quarterly dividend of $1, able February 1 to stock of January 16. Marshall Flelds say current whole- sale distribution of dry goods was well ahead of last week and exceed- ed by considerable margin me week a year ago. Collections were not as good as same Week last year, Electric Bond and Share has con: firmed reports that affiliated Amer- jean and Foreign company have ac quired control of Havan Electric Railway Light and Power Company through Havana Electric Utilities company. Arbuckle Brothers reduced refined sugar 5 points for immediate deliv- ery. London financial news’ saye that further advance soon in Bank of England rate improbable: the dis- count market in London is*nervous and unwilling to take British treas- ury bills, | Grain Opinions TIETT FRAZIER—We see noth Ing in underlying conditions to war- rant deflation, . JACKSON BROS.—In the wheat market, would suggest the advis- ability of making purchases on fur- ther setbacks, STEIN ALSTRIN—In view of the poor foreign demand for wheat lower prices stem likely. New York Curb __New York Curb_| By Hill, Mia hic and Company High Low Close He Re preg e 66% 66% Y 45% 45% che Bo > 64% G4 Humble Oi 87% 81% Cont’ Oil .. 24% 24% Prarie Oll .. 55% «55% Salt Creek Con: 8% 8% Salt Creek Prods, 33% 33% Internat'l Pet, -. 33% 93% New Bradford .. 6% 64 Imperial -..-----. 87M 8TM Mt. Prods, .... 24% 24% Lago Pet. new .. 21 21% Lago Pet. off -. 10% 10% Gulf Olt of Pen 86 86 Elect. Invrs, .. 66% 66% Am, P, and L, 64% «65K Cont.’ Baking “ 121% 121% Cont! Baking “B' 29 3 Cont! Baking pfd. 9914 99% Argo Ol] ....... wowcnseed F415 Glenrock 10@25 Redbanks 7% @20 Cons. Copper . 1% G25 Oil Securities Anglo Am. Oil 1 Borne Scrymser ~ Buckeye «. Chesebrough Mfg. ontinental Oil cont - Cumberland Gal. Sig. Com. Gal, Sig., old pfd. -. Uunols Pipe Indiana Pipe ~ National Transit New York Northern Ohio Oil --.. International Pet. Penn. Mex. -- Prairie Oil ~ Prairie Pipe -. Solay Refg. So. Pipe - So, enn O1 - Penn. Oil Pipe van and Finch od Vi um ... Washington S. O. Neb. Imperial Liberty Bonds | | NEW YORK, bonds closed: $99. First, 44s, $101.25. Second 4s, $100.23, Third 4%s, $100.27. Fourth 4%, $101.31. U. 8. government, 4% Dec, 19,—Liberty $106.10, Livestock CHICAGO PRICES * CHICAGO, Dec, 19.—(U. 8, De+ partment of Agriculture).—Hogs, re- ceipts, 4,000; mostly steady at Fri- day's average; ight ight steady to 10¢ lower; bulk desirable 200 to 300 pound butchers $10.60@10.95; bulk 160 to 180 pound selections $11,109 11.30; practical top $11.30; good and choice 140 to 150 pound weight large. ly $11,25@11.50; bulk packing sows $8.90@9.20; few killing pigs $11.50@ 11.75. shippers 3,500; estimated hold- over 2.000; heavyweight hogs $10.25 @10.50; medium, $10,65@10.90; light $10,50@ 11.80; Nght Nght 10.70@11.65 packing sows $8.55@9,30; slaughter pigs $11.50@12.00. Cattle: Receipts, 600; compared week ago fat steer trade excepting common kind in drums; early ad- vance gone, 25 to 40c lower; heav- fes in excessive supply; off most; fat steers above $12.00 in specialty class; early top heavies $14.00; num- erous loads at best time $12.50@ 13.76; hardly more than $13.00 at finish; best yearlings $13.00; fat she stock 25 to 50c mostly 25c off: can- ners and cutters 10 to 150 lower; bulls steady to 25¢ ‘lower; vealers $1.25@1,50 lower; stockers and feed. 250 off; week's bulk Fat steers $9.50 1 cows $4.50@6 heifers $6.35@ veal calves $9,75@10.50; stockers and feeders $6,508.00 Sheep: eceipts, 2,000; for week around 4,100 direct including today's ers weak to prices follow: fat run and thirty-nine double decks from feeding stations; compared with week ago, fat Iambs mostly steady; yearlings 25 to 50c higher better grades fat sheep 50c lower; feeders steady: week's top on fat lambs $16.75; feeding Iambs $16.65; yearling wethers $14.00; aged weth- ers $11.50; fat ewes $9.00; week's bulk prices follow t lambs $15.50 @16.50; cull natives $12.00@12.50; feeding lambs $15.75@16.50; yearling wethers $13.75@14.00; aged wethers $10,00@11.00; fat ewes $8,009.00. Stock Opinions WEAVER & CO. D CO.—The lls, railroad equipment and motor equip. ment stocks continue to show real strength and we recommend the pur- chase of these stocks on all rebounds, Profit taking may develop in the rails, but stocks like Lehigh Valley, Rock Island, Southern Pacific and Wabash should bought* on all moderate rebounds. J. 8, BACHD AND CO,—We would hot view reactions with alarm since we feel {t will serve to strengthen the technical position of the marleet and supply the strong basis for fur- ther progress. Our expression of opinion regarding the equipments, with particular emphasis stressed on Pullman and Baldwin has been jus- tified by tho action in these two stocks, HORNBLOWER AND WEEKS— Equipments bh led the recovery in the industrial group and we think they will be prominent on the side on the advance with Pullman and Baldwin featuring the high priced stocks, PAGE ELEVEN HERALD [2 seicendcnin ae] MARKETS U. 8. (Sales in Liberty Liberty Liberty Liberty Liberty 2 Liberty Liberty U. S. Treasury 44s. FOREIGN— Czechoslovak Republic 8s 1952-.2A Dom, of Canada 68 french Republic 7 1-3 Japanese Govt. 6-25 -. Kingdom of Belgium 618 rets..1 Kingdom of Norway 68 1944. Rep. of Chile 8s 1941. State of Queensland 6: U. K. of G, B. & I, 548 1937 DOMESTIC— Amer. Smelting 5s-. Amer. Sugar 6s Amer. Tel & Tel A. T. & T. deb, Anaconda C Anaconda Cop. ——o -} Bethlehem Steel con. 6s, A. Canadian Pacific deb. 4s Chic. Burl, & Quincy rfg. 58 A Chic. Mil, & St. P, evt. 448 Chile Copper Goodyear Tire, 88 1941... Great Northern 7s, A. Great Northern 5s Montana Power 3 A Northern Pacific rfg. 6s B.. Northern Pac, new 6s D. Northern Pacific lien 4s Pacific Gas & Elec. 6s. Penna R. R. gen, 4\%s-. Sinclair Con. Oil 6s 1927. Southern Pac, cvt. 4s. Union Pacific 1st 4s. U. S. Rubber 5s Utah Power & Light &: Western Union 6%s .. Westinghouse Elec. j Wilson & Co., previous day and $5,694,000 a CHICAGO, Dec. 19.—(#)—Sur- prise over a collapse in wheat prices at Rosario, Argentina led to larger sélling pressure late today on the market here and forced values down. Chicago wheat quotations closed heavy, 1% to 2\c net lower, new style, December $1.69% @1,69%, and May $1. 6 @1.64, with corn 1 to 1%c off, oats at 4% to tc decline, and provisions unchanged to a set- back of 12 cents, Sudden tumbling of quotations at Rosario left the finish there lower by as much as 84$c q bushel in some oases, Earlier, the wheat market 1ere had shown a downward trend the greater part of the time today, influenced largely by reports that fine weather is favoring the Argen- tine harvest. Current talle that world shipments would show an in- crease for the week tended also to depress values. On the other hand, new unofficial advices from Argen- Une said that although the wheat yield in southern Argentina is ex- pected to be large the official fig- ures on production are considered half a milion tons too high. Notwithstanding, however, that for a brief interval wheat price rallies in Chicago went well above yester- $ finish, the market was on the downgrade again a good deal prior to the news of the abrupt fall in quo- tations at Ro: lo, The general de- clining tendency here was ascribed more or less to the fact that export demand for wheat from North Amer. ica was flat, no sales of consequence having apparently n place to- day, ‘There was also a disposition in vark quarters to assume that crop prosepects in Argentina outside of Santa Ie and Cc may yet fully official forecas Corn fected oba provinces warrant the Ja and oats were bearish nf iberal acceptances of bids for corn arrive here and re- ports IMnojs points indicat. ing that the movement of new corn is to increase Provisions were firm at first by from » but Silver YORK, Dec. 19.—()—Bar 69; Mexican dollars, 53. —— NEW silver, HARR WINTHROP—Without support from abroad, we are still skept as to the maintenance of present levels. —$>—___. t Waler, Phone 1151. Gladstone Hotel Building NEW YORK, Dec. 18.—The following are today’s high, closing bids of bonds on the New York Stock Exchange shares of each bond. (U. S. Government bonds in dollars and thirty. ‘seconds of dollars) BONDS— y were $5. Hill, Weaver & Company Associate Members New York Curb Market STOCKS—BONDS—GRAIN—OILS Cash and margin accounts solicited. WEEKLY OIL SUMMARY ON REQUEST Private wire service to all principal markets. NEW YORK BONDS low and and the total $1, 000) High Low Close 101,27 101.8 16 106.10 106.9 06.10 4 101 100% 101 3 8845 000, compared with $11,551,000 year ago, WHEAT HAS SETBACK AND CLOSE IS HEAVY Collapse of Argentine Market Followed by Sell- x ing Pressure and Other Grains Share in Decline later were weakened b- the value of grain. y declines In CHICAGO, UL, Dee, 19.—W)— Open High Low Close Wheat: Dec. new. 1.72 Dec. old.- 1.69% new 1.65% old. 1.64 ~ 144 4% 81% 8116 Oil Summary BY HILL-WESVER & CO. Standard Ol! company of Indiana has made application for listing its stock on the New York Stock ex- change. Although nearly all dard issues are traded in on the m: jor exchange, the Indiana company's {ssuo has been sold on the curb in the past. ne Texas Production company found flowing water at 3,267 feet in its test of the Arminto structure north west of Casper, where it took over the completion of a h for ¢ Wyland syndicate, It ts lerstood that deeper drill! been autho! Ized before abar the tert Callfornia Novemt duction 636,530 barrels ¢ 645,648 in October according to ‘Amier- fean Petroleum institute. Pacific coast crude stocks increase 1,438,486 barrels during November. Independent Oil and Gas has te- cured a one half Interest in Wuhr- man Transcontinental well which re- cently opened up a new (ield three miles south of the Papoose field This purchase carries with it a half Interest in 160 acres on which dis- covery well’ ls located and also as tights, This purchase {s jmportant to Independent Ol] owing to the fact It has about 700 acres close to this discovery well, which will be worked rapl Phone 3024 nd $$$ 8, Sao |