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Newspaper
Casper Daily Tribune
Location
Casper, Wyoming, United States of America
Date
Jun 03, 1922
Page
4
Wheat prices in Chicago show a heavy downtrend as July and September futures drop from about 1.17 to below 1.16 a bushel amid selling by the pit and short covering by week’s end. Corn and oats follow wheat, with corn weaker and oats near unchanged, while provisions stay steady as butter and eggs shift in price.
Market gossip notes completions by Midwest Refining in Salt Creek last week. Four wells from contracts with Wyoming Associated Oil Mountain and Gulf Barton Wyoming and C. Consolidated produced small outputs. Wells No 19A No 18A No 16A No 6A with depths 2185 1950 2416 and 2420 feet yielded 126 381 and 75 barrels respectively.
Market summaries show hog receipts at Omaha around 8 000 with steady trend and prices near 9.90 to 10.25. Cattle receipts 100 with mixed changes. calves and vealers varied, spring lambs and sheep noted. Denver reports 1 000 cattle receipts, steady market. hogs strong to higher. sheep and lambs vary. Chicago cattle receipts around 1 000 with mostly steady to higher ranges. hogs 6 500 opened strong but slightly lower later. prices quoted across many categories.
Enlarge Laramie plant, W C C Thomas said at a Kiwanis meeting that Standard Oil Co Indiana will soon announce plans to double the capacity of No 2 refinery at Laramie formerly the Midwest plant. Other notes include Hudon field oil sales to Chicago Northwestern, refitting engines to burn fuel oil if coal strike persists, and surveys for gravity pipelines from Osage to CB&Q railroad near Newcastle.
Glen Path Ol association organized by Glenrock people to finance through unit sales the completion of the Glenhurst Wyoming Oil well in the Big Muddy field. The well started in 1917, shut down at 4280 feet since fall 1920, believed within 200 feet of the Dakota rand near the Merritt deep test at about 4300 feet, northeast of the Wall Creek sand productive area.
Midwest Refinery has acquired control of the Lowell Wyoming refinery built two years ago by General Petroleum. It will process crude from Allen Oil in Byron field, and currently runs mainly on Cat Creek crude in Montana. The facility skims 600 barrels per day.
The Hantrock Oil Company is incorporated in Montana with authorized capital of 600,000 shares at $1 each. Key figures BH B Colidge J C Peters and others tied to Homestake Oil to develop a Salt Creek tract in 24-39-79, offsetting the Mosh er Salt Creek syndicate. Homestake transfers a 320 acre lease for $150,000 and 61 percent stock. Homestake Exploration acquires 80 acres from Ball Creek and other Montana holdings.
Arrangements between Red Rover Oil and Pennsylvania Development halt the joint drilling plan on S5-124e Black Butte Dome in Carbon County Montana. Pennsylvania will drill at its expense while Red Rover retains operating and royalty rights on the 320 acres under lease. Embargo and extension to 1300 to 1600 feet noted.
Practical top bulk prices for sows pigs and lambs, with various weight classes and quotes. Receipts show 4400 sheep, demand described as practically all disposed, market described as nominal and some prices compared to the prior week. Heavy and feeder lambs quoted around 13.50 to 15.00, yearlings and ewes noted with diverse figures.
A long list of stocks and their percentage changes appears, including Allied Chemical and Dye, American Beet Sugar, American Locomotive, Anaconda Copper, Baldwin locomotive, Royal Dutch N V, Sears Roebuck, Southern Pacific, Standard Oil of New Jersey, General Electric, International Harvester, Kennecott Copper, Reading, Studebaker, Union Pacific, and others. The data read like a market table with traders and investors noting gains and losses across multiple industries.
The report highlights crude market moves with Dupont gaining four points and United States Steel near its high, while independent steels show selling pressure. Sugars textiles and shipping sectors remain strong, rail shares show gains in junior issues, and Lake Erie and Western shows notable strength. Foreign exchange rates cover Britain France Italy Belgium Germany and multiple European nations with various demand and cable prices. Copper prices remain firm, ironway steady, and London money rates show mild gains with silver and Mexican dollars listed in New York market notes.
In New York on June 3 the stock market showed mixed moves with gains in Royal Dutch Mexican Petroleum and Standard Oil of California while California Petroleum and other independents fell. United States Steel and others rose while some grains and machinery edged lower as volume reached about 100000 shares.
Chicago board of trade sees a notable week as the May 1922 wheat contract collapses after months of pressure. Prices fall about ten percent with corn oats and provisions near steady to modestly lower while 14 million bushels of wheat pile up in city limits and deliveries adjust to a normal market pattern.
Jewelry and water repairing by expert workmen all work guaranteed Casper Jewelry Mfg Co O.8 HMidg Orange ttt Lee News Depot oon
Erratic price moves in markets this week stemmed from unexpected developments of international importance. A 10 percent railway freight rate cut, Supreme Court rulings on Southern Pacific and Reading, and Germany's one year moratorium boosted call money near three month highs.
The U S reclamation service submitted drawings and specifications to Casper contractors for four cottages for administering the Sinclair lease in Teapot territory. Contracts will be awarded and construction begun at once. Casper asbestos chimney blocks will be used in all buildings.
Kinney Oil and Refining company, a pioneer in the Big Muddy field and a base for Wyoming residents fortunes, is absorbed by Kinney-Coastal Oil Company after stockholders approve the deal. Karl C. Schuyler and H. T. Severis, previously Kinney officers, retain leadership roles with Kinney-Coastal.
Oll production in the Cat creek field in April exceeded March by 13,683 barrels. April output was 159,068 barrels with March at 145,085 barrels, according to reports to the state public service commission.
Chicago reports a unsettled week with declines but ends firm as buyers stock for storage and consumption remains good. Closing prices for 92 score butter were 35 cents in Chicago and New York, 36 cents in Philadelphia, 26 cents in Boston.
New York reports clearing house banks and trust companies hold 26,641,170 dollars in excess of legal requirements, rising 9,017,730 dollars from the previous week. Nina Smythe of Los Angeles, a widow with several children, saved money as a laundress and now earns about 2,000 dollars weekly from a land investment.
The Casper City Council invites bids to perform work and furnish a faithful performance bond per plans. Bids must be on uniform proposals and a copy of specifications is available from the City Engineer. The council reserves the right to reject any or all bids. June 3, 10, 17, 1922.
Bids for a storm sewer project Casper Wyoming from Cedar and Railroad to Poplar and Yellowstone must be filed with the City Clerk by June 19 1922. Plans approved May 16 1922 require a 10 percent certified check with each bid and bid opening at the city council meeting.
Notice is given of a special meeting of the stockholders of Lox Syndicate Incorporated in Casper Wyoming on June 6 1922 at 10 am to consider increasing capital stock from 26000 shares at 5.00 to 70000 shares at 6.00 raising capital from 100000 to 350000 for development and corporate purposes. James L Crawford president. Publication dates May 6 18 20 27 June 8 1922.
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