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Show MUCH DEVELOPMENT PLAN FOR SUMMER United Western Consolidated Oil Company Com-pany Sinking Five Wells in Cas-malia Cas-malia and Midway Fields. Koer W. Powers returned yesterday from a ten weekfV bulneFs sojourn in California tn tiu- inten-Ht of the t'nlted WMLern Consolidated Oil company, which he ha represented In a ltal capacity Mnca its organization. During his stay on te -oast Mr. Powers visited the various hoMlnif of th company and attended to i:a detail in connection with the perfection per-fection of tlie orj-'a nlzation. While no developments of a pensatlonal character have ourred, Mr. Powers announce an-nounce that everything Is movinp a!on? satisfactorily and Out the outlook is highly encouraging. Three wells are being be-ing flunk, one in the Canmalia field and two in the Midwav district, anv one of whieh may I. ring ih a flow of oil almost any day. The company now has a monthly month-ly production of approximately 30.000 barrels bar-rels a month. A big programme of development hag bepn outlined by the management for KM 8 and it is probable that operations will be begun on some of the Wyoming holdings before the end of the summer. Development is being undertaken rather cautiously, however, in view of the scarcity scar-city of equipment and steadllv advancing costs. Ne-?? York Money. VEW YORK. March 6- Mercantile paper, pa-per, ii1 per cent. .Sterling Sixty-day hills, $4.72 j; commercial com-mercial sixty -day bills on banks. $4.72; commercial sixty-day bllis, $4.71 ; demand. de-mand. $4.75.iio; cables, 7-16. Francs Demand, $5.72U; cables, $5.70 11-16. Guilders Demand. 44'ic: cables, 45. Lires Demand. $8.91 z: cables, $S.90. 1 Rubles Demand, loc ; cables. 13 ic nominal. Bar Silver S3 Uc. Mexican dollars 6Sc. Government bonds Irregular. Railroad bonds Easy. Time loans Strong; sixty days, ninety' days and six months, 6 per cent bid. Call money Firm; high, 4 per cent; low, 4 W : ruling rate, 4 ? ; closing bid 4; offered at 4Vj; last loan, 4 4. Coffee Market. XKW YORK. March 6. The market . for coffee futures was quiet again today 1 with fluctuations irregular. Reports of a j more active 'spot demand. Including ru-1 mors of sales for export, were, accompanied accom-panied by some trade buying of the near months, while there was scattering liquidation liqui-dation of later deliveries. The market opened unchanged to 5 points higher, and closed net 4 points higher to 1 point lower. May fluctuated between 8.47c and 8.50c, while December eased off from 8.74c to &.Rc. March. 8.34c: May, 8.47c; July. 8.54c; Septem ebS.r.Olc; October, 8.64c; December. Decem-ber. 8.71c. Spot coffee, firm; Rio 7s, 8 vie: Santos 4s. 10 Tic No fresh offers were reported in t.ie cost and freight market, and apprehensions apprehen-sions as to the supply of tonnage were probably increased to some extent by reports re-ports that negotiations for the use of Dutch vessels were not making the expected ex-pected progress. Tiie official cables showed a decline of 50 reis at Rio. with the Santos spot market unchanged and futures unchanged to 50 rels higher. Brazilian port receipts, 39,000 bags. |