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Great Bend Daily Tribune Newspaper Archives Feb 4 1962, Page 3

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Great Bend Daily Tribune (Newspaper) - February 04, 1962, Great Bend, KansasGreat Bend Tribune business Oil markets Page 3 sunday february 4, 1962 new refineries going up All Over Globe Tulsa refine outside the u. S. And Canada will boost their throughput Capa City by about 26.8 per cent by Thi end of 1965, the Oil and Gas Jour Nal says this week. Present capacity of about 11, bbl. Per Day will be in creased by about bbl in the next 4 years mostly at new refineries. The Boom in foreign building began to pick up Speed about a dec Ade ago shows no sign of abating in fact it s picking up the weekly business Agazim says. The no. 1 building area for the 4-year period is the Asia pacify Irea with most of the construe Tion in Japan. Western Europe is very close second. It s hard to keep a running tabulation on new refineries for West Ern Europe because new plants Are announced so frequently that to Day s list is out of Date tomorrow the new construction figure is a conservative estimate because it s based Only on projects under construction plus those announced by governments or companies. While . And Canadian refiners Are faced with a demand Pla foreign refiners Are ban put to keep Pace with increasing according to the journal total . And Canadian capacity to about bbl. Daily. So Viet bloc figures Are not Avail Able the Asia Pacific area leads Al others in current projects calling for additional capacity of bbl. Daily by the end of 1965. Existing capacity is Japan which already has an estimated Capac Ity will add another million in the 4-year period. The japanese we have had an almost unprecedented Post world n building session have hardly paused for breath. Free Europe the no. 2 refining area at present is adding Aboul bbl. Daily capacity. Exist ing capacity is about bbl. Daily. In All probability this ranking will be reversed in the years to come. The increased demand potential and its corresponding need for refining facilities is greater in the highly populous areas of eur Ope than it is in the less developed regions of Asia outside the _. Journal says. African capacity will take a big jump from the present bbl daily with an additional bbl. Scheduled by 1965. The greater part of Africa s new refining capacity is planned by the major companies. Latin America with existing capacity of about bbl. Daily will add More than bbl. By the end of 1965. The bulk of the presently planned projects Are new _ grass roots plants. In the Middle East which is the world s biggest producing area refiners plan an additional bbl. Refining capacity in spite of the almost overpowering trend to Ward refinery construction in con suming areas rather than producing areas. Existing refining Capac there is bbl. Daily the demand for Middle distil lates abroad is reflected in two trends the zooming growth is in catalytic reforming facilities and in downstream units for Hydrogen treating to upgrade All 4he distillate products which leave any modern refinery. The Middle emphasis outside Gaso line conscious u. S. And Canada continues to curb catalytic crack ing abroad. Kansas starts completions lag drilling continues to lag in Kan Sas Oil Fields but the number of new ventures edged up slightly this past week from 45 to 53. Only 39 tests were completed under last week s total of 52. R seventeen of the new starts Are in Wildcat areas with Graham and Trego counties accounting for three each. The rest Are spread one to among Cheyenne Ellis Decatur Harper Logan Mcpher Pawnee Phillips Riley Rush and Stafford. A the eleven completions that made Oil have added 817 barrels additional daily potential. Three Gas Wells Are Good for an addition Al cubic feet of Gas. Norton Wildcat goes on pump d d drilling company inc. Is installing pumping equipment a the no. 1 Williams c sew 21-5-21 Norton county discovery a b o u three Miles Southeast of the town of Densmore. Down from a rotary bushing ele vation of 2243 feet operator reached the total depth with rotary tools at 3678 feet and cemented five Inch production string at 3678 feet. The Hole was deepened with Cable tools to the total depth of 3680 feet in the Reagan. The Well swabbed Oil from open Hole at the rate of Ivi barrels per hour Anc was put on the pump. The top o the Reagan was logged at 3678 feet the new producer is about a mile and one Quarter West of production in the Ray a Pool. M. E. Brister has cemented production string and is waiting on Cable tools at the no. 1 Fincham c Send 3-35-33, promising Seward county Wildcat test three quarters of a mile East of Liberal. Drilling under a rotary bushing Elevation of 2838 feet an son Drill ing company s tools reached the total depth at 6303 feet and five Inch production string was cemented at 6302 feet. Closest production is located one and three quarters Miles Southeast in the Liberal be Morrow Gas Field. Wildcats open 3 new Kansas Oil Gas Fields two Wildcat Oil discoveries and a Gas find Are included in the week s completions bringing the year s Oil discovery list to six and the Gas finds to three eleven wildcats completed during the week proved dry. Sunray mid continent Oil com Pany has completed the no 1 oppy c sane 19-22-22 Hodgeman county Wildcat six and one Quarter Miles Northeast of Jetmore for a pump test of 54 barrels of Oil no water in Twenty four hours. Production is coming from Aci died perforations at 4538 45 feet in the mississippian. The mississippian top was logged at 4516 feet. Garvey drilling company s tools bottomed the Hole at 4629 feet and five Inch production string was cemented at 4628 feet. The new Dis covery drilled on acreage Farmed out by Northern natural Gas producing company opens the oppy Pool. Apache corporation has completed its no. 1 Condit c new 8-34-32, Seward county Wildcat four and one Quarter Miles Northeast of lib eral for an open flow gauge of cubic feet of Gas daily. The Well is producing from acid Zed and fractured perforations at 5942 to 56 feet in the Morrow Sand. The log top of the Morrow Sand was marked at 5940 feet Down from a rotary bushing Elevation of 2829 feet. The new discovery is three and one half Miles West of the Blue Bell new Pool and two and one half Miles Southwest of the Arkalon Field. T Sam p. Wallingford inc. Bar completed the no. 1 Bredemeier new none 18-4-18, Phillips county discovery for 20 barrels of Oil per Day. Production is from Aci lived perforations in the Lansing at 3171, 3212, 3219, 3232 and 3288 get. The top of the Lansing was called at 3132 feet and Woodman Annitti drilling company drilled Jie Hole to the total depth of 3500 get. Five Inch production casing was cemented at 3330 feet. The new Well opens the Mont sol Pool. In 1516 Salim the grim conquered Syria for the ottoman turks who ruled until 1918 when British and arabs occupied the country. Syria was under French mandate Between the two world wars and won full Independence in 1945. Twenty five Hole s were dry. Barton county remains in a plump with Only one new Start and one completion. The tart is Rock Island Oil and Roy Alty no. 1 Deckert w2 w2 be 20-20 .5 and the completion is Inger Oil to. 7 Weikert App new new 2-19 2, rated at 81 barrels daily from he Kansas City in the Cheyenne Pool. Save save save during february furniture Sale Market review funds securities new York a closing or investing companies bid asked affiliated cd. Am bus hrs Assoc fund Trust Boston cd broadcast Idt Pullock re Canadian cd an Gen cd com with invest Concord fund divers invest cd dividend hrs Dreyfus cd eat and and How St elect inv Fidelity fund. Pinan ind cd founders Mut cd fundamental inv Hamilton hc7 Hamilton hda. I corp income i corp investors Insoft Pound instil growth insult income int resources inv co am Keystone gust by Keystone gust b2 Keystone gust b3 Keystone gust b4 Keystone gust i. Keystone Cust k3 Keystone Cust is Keystone Cust 92 Keystone Cust s3 Keystone Cust s4 manag cd Gen ind. Manag cd manag cd paper manag cd petrol mass invest to mass inv growth Mutual invest cd Mutual hrs Natl investors a Sec ser pref Stan Sec ser income a Sec ser growth one we St Pioneer cd Putnam Gen cd quarterly dist selected am hrs share had Tel elec Texas cd . Unit a cum cd unit cont cd. Unit income cd unit science cd unit cd can. Value line inc Washington Mut Wellington Seq. Wellington cd. Win fled growth lit 57 1.67 .1949 h 33 14 29 18.35 h 09 1031 to 950 351 17 85 1267 1457 734 1898 488 1274 1038 590 5.7j 82 8 12 1199 1181 684 528 11 47 2449 2203 1529 957 940 534 23 1329 1543 Sot 375 232 337 242 1520 1587 15 is 1635 7u 628 9.47 1425 9.97 16.52 7.52 10.01 11.33 863 1200 1502 775 1308 7.51 1887 6.37 11 23 19.72 1520 8.57 9.14 488 1.84 s1.27 15.48 15.59 19.85 1757 11.2 1578 10.41 3.85 u.40 13.69 15.74 8.02 18.34 535 1385 11.38 .44 8.87 13.08 12.77 748 5.77 1294 29.56 2403 1668 10.44 1026 638 2548 1451 1883 544 4 10 254 368 264 16 61 1931 17 16 15 is 1768 785 685 1035 1557 1084 1798 1082 1238 941 1321 1942 8.47 14.30 830 20.18 6.98 1227 1817 16.57 1.17 local unlisted securities the National association of securities dealers dec has compiled the following quotations of securities the quotations do not represent actual Tran actions but indicate the rinse within these securities were being bought and sold at the time if compilation bid asked Oil _ 115 us american express Anheuser Busch _. Jankers inv co pm 85 Black. Rivals Bryson 16 Canadian Delhi Pitman com _ Coleman cow pad 38 Colorado Oil it Gas 13% 14% Colorado Oil i Gas 5% pad _. 23 Commerce Trust 74 7712, Delhi Taylor Oil 15 sleet Cap corp a Jet employers reinsurance _ you first Trust Tulsa 45 first surety Ujj Leming 52% 90 ourth Natl Bank Wichita 45v, 49 Guy s food prod i _ Hugo too production h d Lee co inc s Dillon of sons c stockyards k c stockyards 5% pad to Kingwood Oil Lone Star steel Mccormick Armstrong National Bank of Tulsa Pickering lumber co Russell Stover cd Southwest grease to Texas industries Union Natl Bank wich i to ii Westbrook Thompson Western natural Gas Wichita pad Wichita prec warrants Wichita Union it kids co wich in St kids co 4% Utility stocks City Gas Fla _ by 101. 20 i 31 i 33% 35 50 60 i 75 80 25 it eol to Oai was service co Kan Olie 4 28% pad Kan 4.32% pad. Kan Ojtech pad Kansas Nebraska Gas Kan neb Gas 5% pad Kan 5% pad Kan. P it to pad. Okla natural Oas pad Public serv of okla 4% fed United utilities Western lit Western sit 8% pad. West lilt t 20% conv pad Bonds Kansas Turnpike Rev k c stockyards 5% inc Deb 48 i it 42 i 444 89 93 10 94 85 100 33 i 34 95 7914 30vi 32v 34 25 49 80 82 91 10 closing stocks new York a closing stocks Friday close Netchke Admiral 17% u a Allied cd u Allis Chal 21v4 d am Airiina vib am Cyan 44% d a am Mars. 15% u am t t 130 u am Tob. 99 u v4 am Viscose 53% d Anaconda 50vi u Atchison 27 u Atlas chem 23% u Avo corp 26% u it Beech air d i. Beth steel 41% u Boeing air 55% u bran air u a Champlin oil_____26% u it chm up Pac 17 u it Chi i u it Chrysler 57% u cities Sec 57% u 2% cont can 45vi u a Curtiss or. 17 d Dow chem 68 d Vidu Pont 235 u 4 East Kod. 103% fair Whit 8 Firestone 45v4 u fac cp.84v4 d a Ford mtr 108v4 u 2% Gamble so 35vi u Gen Dynamo d Gen elec. 74% u Gen motors ______57 Goodyear 43% u Here per. 95 u v4 int bus mch.558 u 3vi int Harv int paper 34 u int shoe. 26% u a Kan g u Kan p l.46% u a Lone s Cem 23% d a Marq Cem 50% u it Martin d i Middle s ut.35% u a Minn u to Kan Tex 4 d Vamo Pac a.47% u 1 Mansan cd 50 u Mont Ward. 32v4 u it Nat Gyps __________55 u Viny Central 19% u no am av________67% d nor Pac .42v4 d Ohio Oil 42% u a okla d it okla n Gas 37va Peabody coal_____35 Penney pc 47% d Parr 18% u Phill pet 56% u v2 proct Gam 83vi u it Ria 55% Raynier 20vi u v4 Reyn met 37vi d vast Joe Lead .34% d it St Reg Pap. 35% u vib Sears Roeb 79v4 u Sinclair 40 u i Socony. 55% u Ivi spen chem ______40v4 u Sperry hd_______21% d it std Oil Cal 58 u 2% std Oil ind_______56v4 u a std Oil no. 55vi u Iva Sunray. 28% u text Ron 26 d vib tideway Oil u i Tran w air 12% d Vaun Carbide 114 d Union Pac 34% d a wonderful new paint by Dupont any room easier than Ever before. Creamy thick won spatter or drip like Ordinary paint spreads Ever so easily with Brush or roller leaves Rich Flat finish dry to the touch in 30 minutes. No Messy clean up either. Just soap and water Wall paint far Matching Wood work Bueno Satin Solmn pm nil Only Home gallon Lotty colors and appliance company inc North of the courthouse d unions steel working for peaceful agreement by Jack Lefler a business news writer new York for Abor peace in the steel Industry mounted during the week As production increased. Optimistic indications came Tom management labor and government. All seemed to feel that this is no time for a replay of the Long strike of 1959. Prospects that 1962 will be a Good business year de Pend in Large measure on whether steel production goes uninterrupted. Contracts expire june 30 and already feelers have gone out for an Early Start on negotiations under the prodding of the govern ment. Roger m. Blough chairman of United states steel corp., the no. 1 producer said he finds the atmosphere conducive to an Early Resolution of but he indicated that manage ment won t go along with any Union demand for a 32-hour week. Did in reporting that his Cora any s 1961 profits were the Low est since 1952, he emphasized that costs have been going up while there s been no increase in the United steelworkers Union scheduled a meeting of its Pokey committee in Pittsburgh next week. Secretary of labor Arthur Goldberg said this looks like response to our Appeal for Early Goldberg told the joint con Gressional economic committee in was confident that a Demon iteration of Industrial statesman ship on both sides will prevent a strike. Production during the week wasted its eighth week to week gain interrupted Only by Christ Mas week. Output totalled 00 tons an estimated 79.4 per ent of capacity. Steel men said users apparently Aren t building Nve tones As much As expected in anticipation of a possible strike it Are using up most of their orders. Their biggest customer the automobile Industry continued to use steel at a heavy rate. Product Ion during the week was Esti us rub. 59 u it us steel u Iveste Al _________37 Woolworth 83% d h Yale tow_______28% closing average 60 stocks 258.1, up 1.1. Mated at passenger cars compared with the pre vious1 week and a year ago. President Kennedy called for an investigation the multimillion Dollar emergency stockpiling pro Gram. He wants toe Senate to look into contracts and profits he told Bis news conference that the program had accumulated billion Worth of materials which he described As exceeding emergency requirements by nearly billion. He said he had ordered an end to acquisitions for the stockpile except for three minor items which lie did no identify. He cited the supplies o aluminium and Nickel As especially excessive. A vast development of recreation facilities appeared in the making to meet the needs of the people As their Leisure time Anc income increases. A special outdoor recreation resources and review commis Sion Laid a Broad program before president Kennedy and Congress but left it up to them to decide How much Money will be needed to provide areas near where the masses live. The commission estimated that by 1976 the work week will Aye rage 36 hours and consumer in come will have risen from the current billion to billion labor Secretary Goldberg re ported that in january the unemployment rate fell to 5.8 per cent of the labor Force. This was the first time since september 1960 that it had dropped below 6 per cent. Unemployed totalled a decline of from the Janu Ary 1961 figure. The number of employed reached a january rec Ord of up from a year earlier. Goldberg said the figures con firm the continuing improvement in the Economy while at the same time emphasizing the fact that our problem of hard Core unemployment is not yet Stock sales during the week to tales shares up from the previous week but Down from the shares of the comparable 1961 week Bond sales totalled Par with for the previous week and for the comparable week last year. Secretary of Commerce Luther h. Hodges urged businessmen to make a greater Effort to increase Jutt for rid a wonderful new floor styling Armstrong to a tantalizing different floor ing with a natural design effect that fits practically every decorative theme. Use it with everything from modern to Feudal. Ideal for both Home and business. Can be installed on floors in direct Contact with the see Montina on display y in our windows and showroom floor covering Davis paints gifts dial go 3-21 09 South Side of Square successes extend production in Rice Clark Haskell areas Pool extensions completed in Rice Clark and Haskell county provide some of the top news of the week in Kansas oilfields. Sterling drilling company has extended production almost three quarters of a mile to the North West in the one Well Tobias Pool n Rice county with the comple Ion of their no. 1 fair sese be 23-20-9. The Well rated 78 barrels of Oil per Day from the Arbuckle on the state potential. Sterling s tools top Ped the Arbuckle at 3370 feet and string was cemented at .772 feet. The Hole was drilled deeper to 3374 feet total depth and pumping equipment was in tailed after the Well made 15 barrels of Oil per hour on a swab est. Thunderbird drilling inc. Opened the Tobias Oil Pool in october 961, with Arbuckle production at he no. 1 Tobias new so 25-20-9. Extend Clark Field Ferguson Oil company has sex ended production one half mile North of the Harper ranch Pool in Clark county with the completion f the no. 1 Bare unit c new 9 3-21. The Well gauged Cuic feet of Gas per Day from Aci sized and fractured perforations in he Morrow Sand. The top of the Morrow Sand was logged at 5358 get and the Hole was bottomed at he total depth of 5510 feet with Raham Michaelis drilling company s tools. Production Cas no was set at 5450 feet and the Ole was perforated with 24 shots t 53so to 67 feet. Helmerich Payne inc. Has demented production siring at 4865 get to test the no. 1 Hoffman nose 6-30-33, Haskell county sex Sion Well two Miles Northeast Ocie town of Satanta. Acid Zed perforations in the mar Maton at 4796 feet to 4808 feet aged cubic feet of Gas and i barrels of fluid 90 percent in. The Maraton top was called t 4718 feet. Perforations up the Ole at 4433-44 feet in the Lansing and a fill up of 210 feet of clean in in 12 hours and operator is con sports. Expanding markets abroad re essential to our greater growth at he said. It is Iso imperative that we increase or exports to solve our serious balance of payments tinting to test. The la rising top was logged at 4147 Freejr. The new Well has extended the Lemon new Pool Over a mite to the Northwest. Comic figure asks help to fight inflation Washington set to meet Buck Strong a Wavy haired Little fellow with bulging biceps and a Dollar sign for a Torso. He s going to ask your support in the fight against inflation. Buck Strong is a cartoon invention of Al Capp and bears some resemblance to the inhabitants of Dogpatch Down to his i l Abner shoes. But Buck Strong is on a serious Mission. His Job is to warn against the dangers of inflation and Appeal for sound Dollar policies by govern ment business labor and the pub Lic. Hell turn up on motion picture and television screens billboards Plant posters comic pages of newspapers. He is being put to work by the Council for economic growth and Security inc. Former president Dwight a Eisenhower is Honor Ary chairman of this business supported and tax exempt organization. Act to regulate Sale of Stock Kansas City Kan. A two firms Selling unregistered Slock in Kansas and Missouri were placed under a receiver Fri Day at the request of Richard e. Ping la the Kansas securities commissioner. Pringle said a promoter of the companies the United Stales he Lium corp. And Secco inc., was l. Traverse Pretyman who has a record of 22 arrests in 11 states Tor violation Check Laws incs Lialiou for Confidence games fraud and car thefts. The Home office of Secco was listed As Douglass Kan. Disc. Judge Millon p. Beach appointed Richard j. Croker receiver. Croker is a Kansas City Kan., attorney. About to buy a new 62 Model new car save on financing with a Security Low Bank rate car loan one Stop Bank of i is to with Complete banking services open thursdays til

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