davidaulloa/AmericanStories huggingface dataset:
, 1923-07-01
Fast Progress Being Made
on Poison Spider Pipeline

with all the pipe strung from Cas-.
per TO tho Poison Spider field. over
ten miles of which is screwed and
buried. and ditching for over five
miles more. excellent progress is OBJ
taining with tho six-lnch line of the
Fargo OIL company and 1t is practic-
ally assured that this line will! be
carrying oil by the first of the com.
ing month.
Foundations for the pumping equip
ment the field end and at midway
staticn are nearing completion and
the equipment which has arrived will
be placed as soon as his job is done.
The derrick on No. 90 which is
TO replace the ono destroyed by fire
will be completed today and rigging
up will be started Monday morning.
, 1923-07-01

fresh signs Of weakness noted yester-
day were still evident today, par.
ticularly in the independent steel and
railroad shares.
Except fo- sporadic buying by 40
called bargain hunters there has
been marked absence OF public buying
support in the market for several
weeks. This has been attributed in
part to the uncertainties concerning
h trend-of business and securities
prices this fall and the fears en-.
gendered by ecent failures and dis.
closures made in the investigation or
okers bankruptcies taking place a
year or more ago. Railroad shares
have made little response to tho un.
p~recedented earnings reports for May.
which began to make their appearance
this week. Practically all the principal
systems reported large increases IN
gross income but some OF the north.
western carriers showed a reduction
in net. as compared with May last
year. The last fifty.four roads TO re.
port show combined net income OF
s61. 552 900, as against s.l36, 900 in
April and s42, 1913. 900 in May, 1922.
, 1923-07-01

Rigging up on No. "a is nearing
completion and this well will prob.
ably be spudded in on Tuesday.
No. "a is still tied up by a crook
in the casing which is II feet from
the bottom but this trouble is being
overcome. Fishing for cropped under
reamer Tugs is stin holding the at
tention OF the crew.
The water wei in Immigrant Gap
Is drilling at below 500 feet. A water
sand lis feet in thickness has been
penetrated which carries an ample
supply for tho needs OF the midway
station by pumping but the hole is
being continued with the expectation
of striking n flowing well at a great
or depth.
, 1923-07-01

a partial recovery but fresh
Failure Of the board of directors of
tho Baltimore and Ohio railroad to
resume dividends as this time brought
about some selling OF Tint stock.
Steel stocks were depressed because
of pessimistic advices from the stee,
trade oenters and unconflrmed reports
that there vas danger OF a reduction
or omission Of the next quarterly
Bethlehem dividend.
A new low price for crude rubber
and recent tire cuts have had n re.
dictionary effect on rubber company
issues.
Firmness of money rates this week
was attributed to Withdrawals of in.
terror funds from this center in an,
ticipation of mid year settlements.
Call money renewed at six percent
on Thursday and Friday for the first
time In many months, Bankers de,
mand 6k for money with five bid
and business consisting largely OF
renewals. Loans by the federal re,
serve bank of New York for the week
ended June l6 were the lowest this
year, n the total earning assets
were the lowest since 1917.
, 1923-07-01

keters prefer low price because OF az.
pansion in business which develops
with lower prices.
Standard OIL for the most part IL In
that group. There are only three i'm.
|portant Standard Oil companies
which are solely producers Of oil,
namely Prairie OIL and Gas. Ohio Oil
and South Pennsylvania
The situation as affecting ths
Stanard oil Of California is more IA.
korable than formerly. It is directly
benefiting from a great amount of
cheap oil and on account of its abil-
ity to move tho oil from a locality of
overproduction to more distant points
where prices arc higher.
A a group Standard OIL companies
probably will emerge from the pres
emit situation with greater advantages
than the independent group.
, 1923-07-01
Conditions Still Favorable
For Oil Companies, Report

60 far as most oil companies in
which Wall street Is interested are
concerned. present conditions are not
enfavorable. Companies hardest hit
are strictly producing organizations.
Wall streets interest in that type is
sfnalL II 10 almost entirely in the all
round companies. those producing. re-
lining and marketing oil. according
20 n Dov-Jones telegram to Wilson.
Crnnmer and company. r-
With the latter class. the 2r.sSs4
Of profit In periods of law priced
urucs and refined oil. generally is as
s~atiafaetory us when both crude and
refined prices In high. A period of
high priced crude oil Is to the benefit
Of strictly producing companies.
Refining and marketing OF oil Is a
manufacturing and merchandising
proposition. Many retiners and mar
, 1923-07-01

May 2 and on this date June I5)
was drilling at 1,225 feet.
Wei No. 406 has a standard drill
ing rig completed awaiting drilling
tools.
Well No. 4o5 also has a standard
drilling rig awaiting drilling tools.
Well No. 407 started drilling on
May IL and on this date was Las
feet.
Well No. 4os started drilling on
May II and on this late was los
feet.
All necessary tanks. flow lines, gas
and water lines have been constructed
on this property.
Costs Of Operation.
The statement of costs Of operation
on this tract is given in the following
listing of expenditures by the Nam
moth OIL company. This account Ia
n fair figure on the cost of operations
in the Salt Creek or Teapot fields
where the operating companies have
the funds to make preparations for
an extensive drilling campaign and
would thus eliminate much of the ex.
pense that a smaller firm would have
were 1t to enter the field to drill only
one or two wells.
, 1923-07-01

Failure OF tho cement 10 hold nsees-
states a Few job IN the former OPP
Grafton. y hich win cause another de
lay in ~ completion. II is planned to
pun me casing high enough TO in
sure Cur ,uiation and 81 will be re-ce-
mented during the present week. This
hoie was drilled to the Tensleep some
liaf aFo at 2.s24 feet and with OK,
Knowing OF oil and gas In evil,
n onpmcrcial well is assured
n,rthpt peneraion of the sand.
, 1923-07-01
Butter and Eggs

CHICAGO. June 3o.-Butter. lower;
creamery extras. 37hc; standards,
37c; extra frets, 35h a 36hc; firsts.
33h @34hc; seconds. 32h @35c.
Eggs. lower; receipts. 1876 cases;
firsts. 2oh @21c; ordinary flrsts. 1870
zoe; miscellaneous. 2O@2Ohc; storage
pack extras. 23&c; storage pack
firsts. 23Ac.
, 1923-07-01
Development Rigs
4 Upfor Pine Mountain Test

The AaSaia Development company
y rigging M n standard derrick on
fhn northwest Of the southeast quar-.
ri OF fection 35-35.S4 in tho Pine
mountain field n It is expected that
frrddinE in will be started on Wed.
rraday OF this week. This location Is
*rout hnlf n mile southwest OF the
~ which IL now crilled 10 tho Ten
"rep n viii be started with 15N
|"nh Gazing that IL may be carrihd to
~ dteper producing horionA-
, 1923-07-01
Foreign Exchange

NEW YORK. June 3o.-Foreign ex-
changes irregular. Quotations in
0snts. Great Britain demand 457
HE; cables 4b7H; eo-day bills on
banks 457 1915.
French demand 6.o5h; cables sos.
Italy demand 1851; cables 4.ss.
Belgium demand SID; cables 5.13h.
Germany demand .0oobh: cables
,.ooobA. Holland demand 3e.15; cables
a9.1s. Norway demand 1886; Sweden
demand 26.45; Denmark demand II 40;
Switzerland demand .17.61h; Spain
demand 14.4s. Greece demand 2.g5.
Poland demand .0oosh. Czechoslo.
vakia demand zee. Argentine demand
o $3.50. Brazia! demand 1890. Montreal
o. 916.
, 1923-07-01

On section 2o-ss-7s the company's
Taylor No. 8 is down 1,72o feet, and
Taylor No. 4 Is being cleaned out at
PITS feet.
The Carneiro. Kan. test of the
company has reached the stage where
5 3-16inch casing is being run. C. L.
Ferguson. field superintendent for
company. is in Kansas for a few days
looking after the property.
, 1923-07-01
Marine Preparing for New
Operation at Salt Greek

Marine Oil company has completed
rig for its Marine No. 4 well on sec
ton 11ss-7S. Salt Creek. where a
completion is pending in the COM
pany's No. 8. In the latter well eight
inch casing has been run and CO.
msnted at a depth of 2.432 feet and
drilling will be resumed as soon as
It q set
, 1923-07-01

Chicago. June so.-wheat number
? hard 1.O5A; corn number 2 1910
.soA; number 2 yellow SIX q spa.
Oats number 2 white .42& .43h;
number 3 white .41A @.42h.
Rye number 4, So. Barley nominal.
Timothy seed 6,OO96.5O: clover seed
l5.oo@17.oo: pork nominal; lard 1912.
Ribs S.70@S.95.
, 1923-07-01
Potatoes

CHICAGO. June 30. - Potatoes.
slightly weaker; receipts ~ cars; total
U. S. shipments sos; southern Sucked
Triumphs 2.50@3.00; few at $40;
North Carolina barrel Cobblers 5.25
$3.50; mostly 5.25; Virginia barrel
cobblers 5.75Q6.O0.
, 1923-07-01
WINGS LEADING OIL, BUSINESS AND FINANCIAL DEPARTMENT
OPERATION
COSTS ARE Jed
Report Filed by Mammoth in Connection With Inn.
pounding of Returns From Section 20 Holds
Interest for Operators

Interesting data on the cost of operations by the Man,
moth company in developing the Teapot structure has been
CLEANED by Frank Taylor, correspondent of the Oil Journal
and On City Derrick, from statements filed in federal court
in cheyenne by the Mammoth in connection with the i'm
pounding of revenue from the southeast quarter of section
, 1923-07-01
Pipeline Runs Show
Slight Cain During Week

Daily average gross pipeline runs
Tor fields OF the Rocky mountain
region during the week ended June
10 amounted to $4,000 barrels. an in
ereas Of AIS barrels over the daily
average for the week ended June 1s.
Tho Salt Creek increase amounted to
more than the difference.
A comparison for the weeks named
Of daily runs by fields follows:
Fields June 20 June 10
Salt Creek ----..-----o0,7 $50 $4,000
Teapot --------- 4.420 $500
Big Muddy ----..----- 1900 ALSO
Lance Creek ..-----.. IT'S 100
, 1923-07-01
NEW LOW IN
STOCKS MARK TRADE
Saturdays Business on Big Exchange Heavy and Dull
AT Close of Week Which Witnessed Sharp
Decline in Leading Issues

NEW YORK, June 30.-The price trend continued down.
WARD IN todays short session of the New York Stock Ex-
change with a heavy closing and sales approximating 45O,-
Spoo SHARES at the close of a week in which both stock and
. quo'auons broke through their low records of last No.
, 1923-07-01

Moonlight schools are established
% states OF this. country
, 1923-07-01
A

OMAHA, Neb., June 30. U. s.. De-
partment of ACKNOWLEDGEMENTS.
celpt $500; mostly 5@1Oc higher: bulk
200 to $50 pound butchers s6.359
$685. to s6.75; bulk six loads carrying
packing sows and lights $4,000
$685.; bulk packing sow s5.5o@$5.75.
Cattle-Receipts 100: compared with
week ago: Steers mostly 25G50c
lower; medium yearlings 50@75c
lower: she stock 259b0c lower; bulls
25c lower; veals 25c higher; stockers
and feeders steady to 15c lower; clos.
ing bulks as follows. Beef steers $500
GSlo.35; weeks top 5000; cows and
heifers s5.75@ss.25; canners and cut.
ters S2.259$3.25; bologna bulls $3.50
$I.25; veals s9.oo@S1O.50; stockers
and feeders ss.259ss.oo; best fleshy
feeders $685..
sheep-Recetpts mona: compared
with week ago; Lambs and yearlings
50975c lower; medium and common
grades off most: sheep steady to
higher; feeders around Csc lower;
closing bulks follow: Lambs s14.75@
$15.25; weeks top sl5.25; fed clipped
limbs S13.25G$13.s0; light ewes s5.25
$500; heavy ewes S4.00Qs4.25;
feeding lambs s12254s12.6o.
Denver Prices
DENVER. June 3o.-Cattie- Re.
ceipts 81: market steady; beef steers
500 1915; cows and heifers 6.5O9
500; calves 4.5o075o; bulls 3.5O9
5.25; stockers and feeders 5.00@7.5o.
Hogs-Receipts 100; market steady.
10 lower; top 6.75; bulk 6.5oQ6.75.
Evening star., 1923-07-22
Lakes to Coast on Trail of President
Shows Party Outlook Unchanged by Tour

for denomination When party loyalty is ap-
pealed to- it is likely to find favorable re-
sponse from these sturdy republicans out
here.
There is good deal of criticism here
against the falling down" of the Minnesota
republicans in failing to stand by the republi
can senatorial candidate in the recent cleo
ton They do not think Gov Preus was
not understand it.
Washington farmers IN state OF
mind over wheat prices and high freight
rates. They are promised a fat crop after
six lean years, and see the falling prices TAX
ing their hoped-for profits away from them.
For six years dry weather cut down the crop
Last year the state produced 100000 bush
els. which brought around dollar bushel.
This years estimate is for 100000 bushels.
Wheat Mere now is bringing about 50 cents.
with prospect of going lower.
If this prospect is fulfilled. all prophecies
about politics and third parties may have to
be revised.
SO you see. all through this western coun-
try. from Lake Michigan to Puget sound
high freight rates and low wheat prices are
entanged with political reaction and make
a doubtful prospect for the future.
Old-timers in politics in this region agree
that more precarious condition for both
the major political parties has not existed
since the days OF free silver and agraran
agitation. They ask each other if politics
travels in a circle and if 1924 is destined to
bring recurrence OF former agrarian move
ments, with the politics of a great block OF
states, running from the Mississippi to the
coast and from the Canadian boundary to
Oklahoma, including states formerly rock
ribbed republican, embarrassed by the farm
ers, the cattemen and the shippers.
Evening star., 1923-07-22

twelfth part of what it is on the
Alaska water routes.
Averages s19.O7 n Ton.
The rate for all the freight shipped
from Seattle over Seward and An
| chorage for interior points on the
railroad under joint rates yielded the
ocean carrier an average of S19.07
year 1922.
The steamship companies contend
that if all this freight had been
shipped to Seward and Anchorage un-
der the steamship companies own To-
cal tariffs the ocean carriers would
have received an average OF s24.14
per ton of 1000 pounds.
These rates, then, may be taken as
basic.
Astounding Comparisons.
For the purpose of comparison
please note that the rate on such
| commodities as canned goods, dried
! fruit and beans on the Seattle New
! York route, a distance of 1000 miles,
has of late been from Sc to 81 per
| one-fourth of the average ocean rate
| from Seattle to Anchorage and Sew
ard, a distance of 1.406 to 1900 miles.
The rate on such commodities as
! wheat, -four and rice in the Seat
| tle-Hongkong route has of late
| been $5 per ton of 1000 pounds, or
| about one-fifth of the ocean rate be-
| tween Seattle and the Alaskan rail-
| road termini.
Parenthetically, it may be pointed
| out at this time that cannery prod
ucts freight for southwestern Alaska
| is carried for about one-third of what
| freight for other Industries is carried,
| and copper ore from Prince William
| sound is carried at cost or less. The
| Ore belongs to the holding company
| of one of the steamship companies.
! Legislation Necessary.
! 1t will be improper in an article Of
this kind to discuss the causes of
these abnormally high freight rates
I-or the remedy. These are subjects
/ on which minds disagree. Personally,
| I am convinced some legislation is
necessary to relieve the situation, but
I am convinced also that by proper
Legislation 1t can be relieved.
! 1t must be obvious to any fair
minded person that If the present
high freight rates between Alaska
/ and the states are the result Of some
| natural disadvantages inherent In the
situation of the territory, Alaska Is
doomed to. soon be reclaimed by the
wilderness.
/ If the present rates are reason
able" the sooner Washington forgets
Alaska the better for the entire
country.
If the natural conditions under
Evening star., 1923-07-22

made plain in what the "wallop" would con-
sist Of any more than it can be suggested
how the government can affect the price OF
wheat.
X X
From what can be gathered of unbiased
commentators in Spokane, which President
Harding visited and where he spoke on con-
servation, he made an agreeable impression
personally, but did not affect the political
situation in any way. Similar reports come
by grapevine from some other places he
visited before reaching here.
In al fairness to him. it should be remem-
bered that upon starting out he distinctly
disavowed intent to make political trip go
ing SO far as to say that if it was to be so
construed he would stay at home all sum-
and play with Laddie Boy He has not
essayed to depart from that intention unless
it be said that his St Louis speech on the
world court could be so construed.
II his sole purpose was to get acquainted
with the people and fraternize, it has been
successful for he is spoken of in most gra-
couS terms, and he is very much liked. per
sonally.
But the republican party cannot take unc-
ton unto itself of any political benefces to
be expected
X x x
Further east. in Minnesota, Montana and
the Dakotas, have told you in previous dis
patches of the turbulent state of political
opinion which seemed to furnish breeding
place for a possible third party movement
They say here, we'll posted men, that this is
not good ground for sowing third-party seed
Also that despite the somewhat apathetic
attitude toward the administration, there is
no substantial ground upon which to base
encouragement for a movement to oppose
President Hardings denomination start
revolt in favor of some ambitious republican,
especially near-republcan. opposing him
Evening star., 1923-07-22
What Is the Matter With Alaska?

United States other high
officials determine that OF Alaska
say? That has been asked times since Mr. Hard
his making the journey Some
attributed it opportunity for the President do
called pleasure
declaring President
could spend his Florida and his Alaska
But, John Rustgard Of Alaska,
entirely angle Without mincng words Rustgard
has disclosed that demands immediate In
other words he has injected into the 1924 presidential
and apparently Mr. Rusgard has his the
situation without fear Unlike majority OF Alaskan officials de
pendent Washington for appointment Mr. Rugard duly
elected his office by the of the territory and his
pence in Alaskan public life leaves him well equipped handle
the subject of The Plight OF Alaska"
Evening star., 1923-07-22
Germany Gains
In Trade With u. :

American trade with Germany
not as one-sided as il was year ag,
The United States is now exportir
to Germany about twice as much
value as we are receiving from Gei
many in imports. A year ago
were exporting about four times
much.
These interesting and significaI
changes are revealed by compilation
just completed by the statistical d.
vision of the Department of Con
merce.
Increased imports from German
feature these returns. During
eleven-month period we exported t,
Germany s247, 100000 worth of goot
and received in return goods to Il
value of s13O.000,o0o. While our e,
ports to Germany declined II p,
cent as compared with the san
eleven-month period the previot
year, our imports increased by so D
cent.
Purchasing Power Cut.
Probably the depreciation of t.
German mark has had the effect
stimulating German exports, whi
the decline in German demands
American goods would seem to inc
cate a falling off in Germany's pu
chasing power rather than a prefe
ence for other goods in the Germa
market.
Notwithstanding the great increa
in imports from Germany during IL
last year, we are still importing
per cent less in value from German
than we were before the war, whi
the quantity of goods is probably n.
more than half. Our exports to Ge
many are now 10 per cent less
value than they were before the wa
but much less in quantity owing
the general rise in prices.
Thus in pre-war years German
sold us 55 per cent as much as it pu
chased; now it sells little less thg
SO per cent. During these past elev,
months only 8 per cent Of our tot
imports came from Germany, as COL,
pared with 10 per cent in 1914.
These figures all indicate to clor
students of trade conditions tha
while our relations with German
are becoming more nearly normal, Il
total volume of American busine.
with that country is much less impo
tant than in former-years.
Evening star., 1923-07-22

tory and the Mexican cession was not
less rapid.
And yet these territories had a basic
population in the mother country
varying from only three to twenty
millions to draw from, while Alaska
has had a population Of about one
hundred millions to rely upon for ac-
cretion.
Problems Are Vast.
The reason for this tragic fate of
Alaska is not found in any natural
disadvantages under which she labors.
but in various handicaps with which
she is afflicted.
1 shall discuss two of these-trans-
portation and conservation.
Transportation to and from Alaska
presents the problems of greatest
magnitude and involves the entire
territory. The United States may be
said to be Alaska's one market at the
present time. To the states we ship
virtually all that we produce; from
the states we purchase all that we
/ I.
tation between Alaska and her mar
kets the development of any but her
richest resources is impossible. Under
present conditions only the cream is
being skinned; the rest must be
wasted
Commercially, distance must be
mea sured not in miles, but in cost of
transportation. When this is done, it
will be found that the south end OF
Alaska is four times as far from Seat
tie as Hongkong is from San Fran
cisco, and the ports of the south coast
of Alaska are about twice as far
from the nearest American market as
is Puget sound from New York.
At present rates a ton of freight
can be shipped from Seattle to New
York and return, or four times across
the Pacific ocean, or four times the
cost to ship it from Puget sound to
Seward or Anchorage-the south ter
minal of the government railroad ir
Alaska.
Economic Doctrine Upset.
From time immemorial it has been
generally thought that water trans.
portation is incomparably cheaper
than any form Of land transports.
tion. But this doctrine has been up
set by the experience of Alaska.
Let the observed that, per ton.
mile, the cost of transporting freight
on the steamship lines operating be-
tween Seattle and Alaska is consid-
erably more than twice as much as
states.
On the intercoastal route through
the Panama canal the ton-mile rate
is approximately one-sixth of what
1T is on the railroads and about one.