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Newspaper
Casper Daily Tribune
Location
Casper, Wyoming, United States of America
Date
Dec 01, 1920
Page
5
A 12.5 million dollar stock purchase plan for Standard Oil Company of Indiana employees allows 50 percent company funding and 50 percent employee payment over five years. About 900 workers in Wyoming are included with payroll near 25 million annually. The plan is led by T. W. Stewart and mirrors similar schemes likely in other Standard Oil units.
The California Wyoming Trust Co organized under a declaration of trust and composed mainly of San Diego businessmen has acquired holdings in the Rolson Spider Ferry.
The Pahtika Syndicate led by A. M. Berringer aims to test a gas sand about 1 1/2 miles east of Cody on the Pulley farm. Backed by Ogden, Utah, the group expects gas around 1 400 feet as previous shallow wells in Cody yielded gas and some oil but the sand flooded due to inadequate protection. A big order was placed by The Standard Oil Co of Indian for 6 000 tons of plates from Inland Steel Co for Wyoming operations.
The Miller Schulte Oil Company abandons its Perrik field well in Carbon County after reaching 3790 feet without commercial oil. The firm had taken over operations after selling 30 percent of the property, with a plan to drill to 3000 feet. Oil and gas were found in sand 55 feet thick but shot with no effect. The company also acquired a Bolton Creek lease and plans shallow drilling to reach the Embar sand at 1500 feet. New directors named include Hugh E. Miller and Edward I. Schulte.
The October to November bulletin reports a general uptick in business activity with price reductions continuing. It notes lower price levels for major crops and consumer goods, improved wholesale sales, and a shift of merchandise toward bargain pricing. Wheat holdings show limited movement as farmers hold grain for later marketing amid ample feed.
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