davidaulloa/AmericanStories huggingface dataset:
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18


Standard of ofoFna
this weak recovered 4h8
lost tools ID ias wildcat 81
tbs Utopia sswueo ii
the sweetgrass nilla and
is today drilling alea
with q test Of Ehe brsaAH
Ia the Madison Nne Ia
prospect
This well jumped into the
limelight last fail when She
bit had reached depth Of
1914 feet.
At this depth, the tools were
blown 80 feet up TIE hole and
bridged, with 100 fee1 Of fine
white sand ON top of them
Whether the propelinR force
force was oil. gas or water vas
d puzzle which has nos yet
been solved
xooIa Are ou&
The U1opia Oil pany,
which recently tunn the
well over to the Sta Of
California, cleaned or he
sand On top OF fhe eols but
was saceassul ii n
out.
When the Caiifornia Gem
pany took over the hole q few
weeks ago it was decided to
pull the pipe, with the tools
inside.
Drilling Again
This was done during the
week and the pipe has been
run back ia the hole and drill-
ng resusned.
Utopia structure IS one OIL
ihe most prominent Ia north
srn Montana, a huge uplift
southeast Of the Sweetgrass
Hills, a short distance north Of
chester
Due to the evidence of ire
nendous pressure encountered /
a this hole, progress Of the
veil will be watched with ex-
RENE interest as the bit nears
he breaks in the lime in which
PRODUCTION is expected.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18

Despite the spirited defense Of the Code
Of Ethics made in the columns of the Mon
tana OH & Mining Journal last week by Wal
ter r Britain, state secretary Of the state
code committee, there are still those among
the Independents who fail to agree with his
views.
This is forcibly brought out in the fol-
lowing letter, received this week from q
prominent north Montana refiner:
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18
River
Well Finds
More Gas

Increased showings Of
both oil and gas, coming
from sandy breaks in the
Colorado shale, are report
ed hy visitors TO the Wild
est 0f the Fulton Petrol
cum Company on the NIX
River anticline, north Of
Browning on the BIacl1eet
indian reservation.
The well has been posted
with gas warnings and smok-
ing is now prohibited near the
we'll, the visitors report.
This well is now drilling at
past $500 feet, in what geo
logists say is the lower half Of
Inc Colorado shale. The wells
first chance for production win
be found inside Of the next
few hundred feet, in the basal
Colorado sand, where either
iii or gas may be found.
The Milk River structure. as
by the u. S. G. S.
md subsequently approved by
leading biologists Of the
United States, is one Of the
most promising ever drilled
a this state.
It is Of the sharp-dip variety,
N sense a connecting link
between the prolific Turner
Valley field to the north and
he sensational Dry Greek
.ield to the south, both Of
hese being also sharp dip.
Finding Of production Ia this
veil viii result in wealth. for
he Blackfeet Indians, since it
6 surrounded by tribal lands.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18

Pxiee Of ermaa oil ID the Keyinr
snnearm Se&a has been cut 70 zoe
hy fhe obio on Company
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18

Amdover Oh Cosmnants
wildcat ON the Floweree
ssructure, SIS miles west og
Great FaIls. has recovered
the lost tools ana - solas
DRILLING a. 22a0 geek. IA tzse
Madison llrne, with q thor
ough tess Of this formati0n
IN prOspecf. The hole il -
good shape for fmrthcs drill
ing and che wen May be carr
ried through the lime, nm
less production Is fonni in
break
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18
BORDER YELL
REACHES TOP
OF PAY SAND

Two wells ia the Border
Red Coulee OIL field. which
hase been rumnimg . neck-
and-neck race 10 the pay
samd for some m0nths. each
moved = step closer 20 the
obgecfave samz dmring the
week. with oue apparently
assured o. production
Askalta -Farbo No. /. SD SEA
NEA 2-s7-4w, in the proven
area. has some Oh showing in
the hole at 1905 and Is now set
ting pipe for . test OF the Va
malta sand. the horizon IL which
adjacent wells in this field find
production.
A mile west Of the proven area.
nearing this same horizon. AIber-
"a DrilIers-F arbo No. 1. in NE
SEX SEX s-S7-4W. is drilling
as 24z5. This well has been
reaming and carrying sH inch
pipe and has been delayed for
that reason.
should this well find produc-
lion. as seems likely in the OPP
lnlon Of field operators. Il will
upen % considerable more proven
acreage on which additional drill
ting may be expected this year,
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18

eu,<
Y -ss, ~ss 81 80 r,, =
-. { -. -, !, nos.e.
~ Z = - a. = -, { - ~ !,
ss' = 800 - % - -. - 80
n'sA ~ -
rSoAs e'eH 'As@
So 9A ''ts4 i
~s s1@ -. 80 x,
sns 1'''As 80 - = '''.@
soA ~ RPF'eA
oNeii|As 2 2 zee SO = nv :
we'll y a'nkh % ~ q kne ~ VEL
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18

Gas from the MIX River an
lsrline, on the Hiackfeet Indian
reservation north Of Browning.
viii be one Of the sources Of
supply for the Butse-Anaconda
pipeline. according 70 the wash
AnRs0n Oh world. which says
0ne Of the beneflciaries o.
tha 912. ooe 90 gas pipe line from
IKE Cat Bank field. Montana. To-
nAc1nda and Butte. now being
hnllt ~ fhe Montana Power Co.,
tceesinaed as Page Eieatl
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18
Rentals And Royalties
Yield State Large Sum
Report BY BrandjOrd Showing Total
of S1,744y312 Received

HELENA, July 49, During the last 13
years the state has received 81, 744, 312.14
from the rentals and royalties on coal leases,
rentals on oil and gas leases, and from oil
and gas royalties, it is shown in report pre-
pared by / NJ Brandjord, commissioner of
state lands and investments.
Montana oil and mining journal. [volume] (Great Falls, Mont.) 1931-1953, 1931-07-18
LANCE FARM GASSER EXTENDS
BEARS DEN FIELD MORTHWARD.
Flow OF 100000 Feet Unc0rked In Basal
Colorado When Bit Tops Sand AT
Depth OF 1880 Feet

Proven area Of the Bears Den field in
the Sweetgrass Hills was further extended
this week when Howard-Lange No. 1, in G.
SEE14 SW14 7-36-6E, tapped an estimated
flow of 1000, 900 feet of gas at the top Of the
basal Colorado sand at 1880 feet
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
Business Notes

NEW YORK, April 11-Some i'm
provement in retail sales of mems
wear, due partly to the favorable
weather during the last two days, was
reported by stores in New York. The
rain during the early part of the week
was responsible for keeping customers
out Of stores, it was said. but the warm
weather that followed stimulated sales.
One of the leading chains reported that
its sales this week were ahead OF the
corresponding week of last year, de-
spite the fact that year ago Easter
fell on the goth.
Another drop in food prices carried
the March index of wholesale grocery
prices, prepared for the National
Wholesale Grocers' Association, to 81,
the lowest point on record. The figure
is 2.3 per cent below the average for
February and Is per cent below that
of March, 1880. The index, based on a
list of "a representative grocery items,
shows that raiSins, cottonseed oil and
lard were the only products showing
price increases.
Machine copies of womens imported
mesh sweaters, which were introduced
by domestic manufacturers several
weeks ago, have begun to attract con-
siderable attention from buyers, the
trade reports, and orders are appearing
steadily. Whereas the imported goods
retail from $40 up. the domestic prod
uct sells in the neighborhood of S..
Instructions to cut al peslsimistic
references to business conditions in the
New York market from letters to for
eign customers we're issued by two large
export houses this week. The belief
that buyers in other countries are hold
ing back normal orders under the i'm
preston that poor business in the
United States will force companies here
to break prices shortly Is behind the
latest injunction.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
POOR EARNINGS SEEN
IN STEEL INDUSTRY
Analysis Shows Downward Tend
ency in Production Is Now
Indicated.
BY the Associated Press.

BY the Associated Press.
NEW YORK, April 11.-Slow con-
sumptive demand and unremunerative
prices indicate that earnings in the
steel industry during the next few
months will remain distinctly poor,
says an analysis issued by Standard
Statistics Co.
Whether or not the recent decline In
steel activity marks the passing of the
seasonal peak, "it is apparent that the
industry Is now huctuating around a
broad top from which the next definite
trend will undoubtedly be downward
into the dull Summer period" asserts
the review.
Although operations for April will
probably approximate those for March
and although it Is reasonable to believe
that second quarter activity will aver
age moderately above the first, the COM
pany says production for the first half
year will fall far short of the CORE
spending periods of any recent year"
Current efforts to advance prices
on certain lines are proving ineffective,
and contract prices for second quarter
business will probably be little changed.
Despite increased posted quotations,
present contract values in most cases
are below those of the final quarter of
last year. and also apparently below cost
of production for many producers"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
BUILDING INDUSTRY
SHOWS MOST VIGOR
Business Publication Sees Much to
Be Accomplished in Over
coming Slump.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, April 11.-Business
continues to crawl along the fiat
trough that hes lasted more than four
months. Week to week and even month
to month movements are slight, sporadic,
still insignificant, says the Business
Week In its report covering the week
ending April IL.
Steel activity slides of more swiftly
from its feeble Spring peak, with in
creasing price uncertainty but per-
sistent hope Of improved demand later
from Summer construction contracts.
Building alone evidences any vigor. but
only with support Of public money.
Other indicators are static. and the
index others indecisiyely around the
average of recent months, with a slight
slump in the last few weeks. For the
week ended April 1t settled at 1913
per cent, against l.3 in the preceding
week and $50 per cent in the same
week last year.
Background conditions. excepting only
encouraging crop prospects, are not con-
ducive to confidence. Stagnant or
sagging security markets indicate in
creaSing caution and indectsion in
anticipation of further dividend and
wage readjustment. Chronic weakening
of commodity prices with continued
credit contraction is stimulating re-
Strictive agreements on production with
governmental support or compulSion,
thereby aggravating unemployment and
speeding specialization. Moves for major
international conference action to meet
the emergency and check defiation are
apparently at last developing around
Gov. Norman's visit, but further drift
and delay are likely until third Winter
of unemployment looms so long as our
official and financial economies emulatss
the ostrich, the original optimist.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
Washington Produce

Butter = one-pound prints, Sass;
tub. 32laa33h.
Eggs-Hennery, %; current receipts,
20.
Poultry, alive-Turkeys, young toms
and hens, 32a33; old toms, 20: Spring
broilers, 38a40; Winter chickens. 3Oa3a:
hens, heavy, 24a25; light. 22a2s; Leg
horn hens, 20; roosters, 12a14; ducks,
Is; keats, young, 75asO; old. 40. Dressed
turkeys, young, 38a40; old, 34a35:
Spring broilers, As; Winter chickens.
38a40; hens, heavy. 27a28; light, 25a26:
Leghorn hens. 22a23; ROSTERS, 15a16;
keats, young, 80a90; old. so.
Meats-Beef, 1312a15b; veal. 14a16:
lamb, 10; pork loins, 1921; fresh hams.
10; fresh shoulders, II; smoked hams.
Il; smoked shoulders, IL; strip bacon.
Il; lard, in bulk, IL; in packages, IL.
Live stock-Hogs, heavy, 7.00a7. so;
medium and light, 500; pigs, 75Oa8. IS;
roughs, 200a6.00; Spring lambs, 1900;
calves, 5.00a900
/ .Fruits-Strawberries, 25a45; pineap-
pies, 4,O0a5.00; oranges, Florida, 4.O0a
4.50; California, 350a5. SO: lemons. $50
$3.50; lines, per 100, 1.75a2O0; apples,
bushel baskets, 1.00a2.00; box stock.
2.25a3.00; grapes, Argentina, 350a4 90;
pears, 4.50; honeydews, Argentina, $50
a2.75; rhubarb, Michigan hot house,
5-pound boxes, 100; home grown, per
dozen punches. $50.
egetables-Potatoes Maine and New
York, 120-pound sacks, PTS: Idaho
bakers, 100-pound sacks, 275; Florida,
new, per bushel, 500; sweets, Nancy
Halls, per bushel, $50; reds. I'25a1 So:
cauliflower, 1.75a20O; mushrooms. 50a-
go; squash, $50; eggplant, 4.50a5 90:
asparagus, South Carolina and Georgia.
2.OOa4. 90; string beans, 2.00a4 90; limas.
Cuba, 4.50a500; Florida, 6.0Oa6 so: Gu
cumbers, Indiana hot house, per dozen.
1,75a2.25; tomatoes, three-pan contain-
erS, 250a3.25; peppers, 2.00a5 so; car
rots, per crate, ais; beets, per crate,
ais; turnips, punched, per crate 2,75:
kale. 50a1.00; spinach, 50a1 90: okra,
per pan, 1.00A Span containers, Cuba.
.O0a4.50; broccoli, 5.00a5. so; peas. 400
40 90: lettuce. Iceberg, 2.25a3 SO; Flor
IDA, ESQ; cress, 1.25a1 so; turnip salad,
%; cabbage, new, per hamper, 1.25,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
INVESTMENT BOND
MARKET IRREGULAR
New Domestic Issues Retard
LiSt-Junior Group Is
Stronger.
BY F. III. RICHARDSON.
nIsnatch. to The Star.

special DlSpaLcn 10 Inc SJhr.
NEW YORK, April 11-Investment
market trading today revealed an ir-
regular trend in domestic bond prices
and a general upward swing in foreign
dollar bonds.
Outstanding domestic issues were
still depressed by the competition of
new issues, especially the influence of
a number of recently offered bonds
selling at a discount. New York Gen.
trail 4las sold off fractionally again to
~ points discount. Pennsylvania
4L4s dropped to a fractional discount
after closing Friday at their Offering
owing to the brisk trading in these
new issues. Money rates were I'M
changed.
One strong feature was found in
some of the junior bonds that have
shown wide declines In the past week.
Frisco 4l2s and Missouri-Pacific Is,
both of which touched new low levels
on Thursday and Friday, recovered l
to / II points on fairly aggressive buy
ing. In these and other comparable
bonds, there was an oversold condition
and, no doubt, sizeable short interest.
Elsewhere prices sagged, chiefly
owing to lack OF interest. General
Theaters Equipment IS, International
Cement 5s, International Hydro Electric
IS, Richf1eld Oil IS, Texas Corporation
SIS and American 1. G.. Chemical 51as
were the types of bonds affected. High
grade bonds were mostly unchanged,
with fair demand for American Tele-
phone 5s, Brooklyn Manhattan Transit
is, Atchison General Is, Great North
ern Is, National Dairy 514s and Youngs-
town Sheet & Tube SIS.
In the foreign list advances were the
rule. BfaZilianS and other South
American bonds continued their re-
covery. European issues also had a
strong tone. German Government 51as
sold fractionally higher. German Repa-
rations rs, German Central Bank IS,
Berlin IS, Cologne 61as and Saxon rs
also improved. Elsewhere there was
buying of Belgium rs, Australian SIS,
French rs and 71as, Gelsenkirchen IS,
Irish Free State SIS, Italy Is, Lombard
Electric rs, Meridionale Electric Is,
Oslo Gas & Electric SIS, Vienna IS and
Westphalia Electric IS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
TREASURY TO WITHDRAW
SUBSTANTIAL AMOUNTS
BY the Associated Press.

BY the Associated Press.
NEW YORK, April 1.-Withdrawals
from bank balances by the United States
Treasury from April Is to II, inclusive,
Will be in very substantial amounts, it
was learned in Wall Street today.
These operations are not expected to
have any marked effect on the money
market as they will be largely OF book
keeping nature and preparations for
them have been made already. About
$l49, 600, 900 interest on the Government
debt will fall due on April IS A sub
Stanttal portion of the Withdrawals will
be caused by the payment of checks
for veterans loans.
Withdrawals from the Second Fed
eral Reserve District on April IS and
IA will total SIC, 1853, 900 respectively and
throughout the United States $53.24O,-
500. These funds will come from the
proceeds of the two issues of certificates
Of indebtedness dated March Is.
Deposits remaining In this account
after the latter Withdrawals will total
1924, 100000 in the Second Federal Re-
serve District and 1927 ,049, 800 through
out the country.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
CHANGES IN ECONOMIC
STRUCTURE OBSERVED
BY the Associated Press.

The economic structure Of the
country Is undergoing vast changes be-
cause of business and financial depres-
sion.
Commodity prices as measured by the
Bureau Of Labor Statistics now are at
the lowest point in 16 years. Price is
always the controlling factor in the
present economic system. Operations
now must be reckoned with a price
average about IT per cent below the
level at this time last year, and APP
proximately % per cent below the
average late in 1929.
The present price index, 1853, based
on 1925 average as 100, means more
efficient and cheaper manufacturing
methods must be put into general bust
ness. Sales and merchandising methods
must be readjuSted to obtain the most
satisfactory results with least expense.
Research into world markets is
necessary to determine what changes
have taken place and to devise means
of competing with the new order of
things to conduct business at a profit.
New and superior manufactures are
needed as well as the ultimate in dis
tribution methods.
Certain Government officials feel
that in many lines of industry the field
of profit has been narrowed down to
that return obtained from reduction of
every cost factor. This would embrace
cheaper methods of financing, lowering
fixed charges and adoption of modern
mechanism.
Attention is called to a recent survey
by the American Machinst which re-
vealed that AZ per cent of the metal
working machinery now in use is 10
years old or more. Progress of tool de-
signing has been SO rapid during the
last few years that most machines or
equipment so old as this are obsolete.
and continued use means high cost OPP
GRAFTON. Other industries are faced with
similar dilemma, operating at higher
overhead in the face of lower prices.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
GENERAL BUSINESS
LEVELS HOLD FIRM
Further Recessions Believed
UnIikeIy-Dividend Cuts
Now Water Over Dam.
Special Dispatch the The star.

Special Dispatch the The Star.
BOSTON, April lin its summary
and forecast of business conditions this
week, the United Business Service says
that the steady flow Of dividend cuts
has been the chief unsettling factor in
the stock market. These have damp
ened the spirit of even the most ardent
optimists, but they should be considered
as water over the dam. Although GER
tain industries may show additional de-
clines, current statistics indicate that
no further recessions in general bust
ness from present levels are likely The
weekly index registers 22.7 per cent be-
low normal this week, a slight improve
ment over recent weeks.
European Situation Is Tense.
The Austro-German customs union
incident, states the Business Service,
serves to bring out in bold relief the
tense and delicate political and military
balance on which European peace and
progress hang.
Economic conditions in the United
States are bad enough. says the service,
but they are at least under our own
control. Americans may be thankful
that these 48 States are not an armed
camp, shot through with bitter hatreds,
jealouSies, and revenges; cut across by
score Of high tariff barriers, and held
together by few treaties which are en-
forced by enormous ornaments.
Security Price Outlook.
Prices of stocks, says the service,
should advance In anticipation of better
business just as soon as 1t Is certain
that prospective earnings justify OPP
timism. When it appears evident to the
majority of investors that the business
trend is again upward, theH stock prices
will rise faster than the general bust
ness advancement, due to the competi-
ton for the securities of the companies
most likely to prosper in the coming
period.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
TRADE EXPANSION
/ DECLARED ON WAY
Borrowing by Merchants
!. Taken as Indication of
N Business Gain.
BY CHARLES w. STORM.

Editor, the News Service of Wall Street.
Special Dispatch to The Star.
NEW YORK, April 1.-THE stock
market may continue to back and fill
in a manner most irritating to investors
and spectators, but the worst OF the
depression in business is over. This
statement is made on the authority of
two of Americas most important bank
ers, one in New York City and the other
in Chicago. These bankers declare that
the borrowing by merchants and manu-
facturers is increasing and this means
large business in some directions and
preparations for expansion in others.
These banking interests also declare
that earnings to be reported for the sec
ond quarter of this year will make
better showing than those for the first
three months period.
Railroads Heavy.
Although some of the good railroad
investment stocks have sold down to
new low level for the year, their heavi-
ness failed to have much unfavorable
influence on the induStrials. which
showed a rallying tendency, until late
Yesterday afternoon when the profess
sional bears resumed their attack on
WESTINGHOUSE Electric & Manufacturing.
The bears were aided by unfayorable
rumors regarding earnings for the f1rSt
quarter of this year in this stock.
Everybody knows that earnings OF
corporations and railroads for the first
three months of this year Will make
Door showing. Important banking IN
terests declare that the showing for the
second three months will show improve
ment, so that the stories Of the poor
earnings for the first quarter should be
regarded by security owners as water
over the dam and should not cause
them to part with their good investment
stocks.
Tobacco Shares Strong.
Tobacco stocks continued to furnish
some brightness in the market. Most
of these issues advanced to new high
prices for this movement, it being gen.
orally recognized that the tobacco COM
panies are continuing to increase their
financial strength and earnings in
poor times. r. j. Reynolds Tobacco is
said to be running at full capacity "a
hours daily, according to Wall Street
rdmor, by reason of its recent compre-
hensive advertising campaign.
A feature of the dealings in the rail-
road shares was that while most issues
touched new low levels the preferred
stock of Chicago & Great Western ad-
vanced to a new high price for this
movement, due to the fact that earn
ings for the first quarter Of this year
will be the largest In the history of the
road.
Copyright, 1891, by North American News
paper Auiance.)
Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-11
PETROLEUM AND LUMBER
SHIPMENTS ARE HEAVY
BY the Associated Press.


The United States Shipping Board
reports n per cent of the eastbound
trafnc from the Pacific to the Gulf and
Atlantic Coasts during the last fiscal
year was in petroleum and lumber.
Petroleum shipments aggregated g.
433.0 22 tons, or 48 per cent. OIL fields
OF Southern California supplied 90 per
cent OF the total tonnage, the remain-
der coming from the central portion of
the State. New York City reported the
heaviest receipts of petroleum, followed
by Philadelphia, Baltimore, Boston and
scattered Atlantic and Gulf ports.
Other shipments from California were
l0S, 9S4 tons of copper and 29, 26I tons
of pigments
The outstanding commodity in the
weStbound intercoastal movement from
the Atlantic and Gulf Coasts was iron
and steel products, which, with 1.415,-
900 tons, accounted for nearly SO per
cent of the traffic. Other important
groups were 162,500 tons of pigments,
$4,000 tons Of machinery and vehicles,
10000 tons of sulphur and 26,001 tons
Of copper.