Salt Lake Telegram | 1949-07-30 | Page 15 | Salt Lake Stock Market Notes Late July Rally

Up and Down the Street Salt Lake Stock Market Notes Late July Rally By Bobert W. Bernlck "--' Trading on the Salt Lake stock exchange took a severe beating during the month of July, but an upturn was noticed tn the final days of the month. During the month. TS7.594 shares changed hands with a market value of 183,732.81.. That compares com-pares with trading of 1.220.144 shares with a market value of $115,344.77 for June, the previous month. Trading for July, 1848, totaled 54.610 shares but high prices brought market values to 1191,-32 1191,-32 90 for that period. The three largest traders on the exchange for this month just ending were East Standard, 87,000 hares, high o and low 4c with last sale at 6c; Royston Coalition. 60.770 aharee, high and last sale at THo and low of 4ftc; Grand Deposit, T3.060 shares, with high and last sale at lc and low, of; IVic, Other traders In which Interest wss evidenced Included Rico Ar- gentlne. 1106 shares, high (1.20. ! low 11.06, last sale 11.20: New Park. 7900 shares, high l.S7"i, low (1.02H, last sale 1.25. Park Utah, 600 shares, high el-80. low and last sale 41..S4 Par City Consolidated, 8910 shares high 32c low and last sals 31c; i Madison Mines, 9300 shares, high I .22c low and last sale 184c Magnolia Lead, 52,000 shares, high and last sale 13V.C low 6c; Crescent Eagle, 6500 shares, high 20c low 14c last sals 18Ht Assets Increase Total assets of the Wellington fund Increased from 364.094.510 in 1948 to (75,804.816 during the j first six months of this yesr, it was reported Saturday. Number of shares Increased from 3.936.035 to 4.670,084, while total distribution remained unchanged un-changed at 40c per share. I Net sseet value per share was ; $16.23, compared with $16.28 In 1948. Manager Retire Morris T. Cook, general manager man-ager of the Pacific division. Western West-ern Union Telegraph Co, retires Sunday after 47H years service. Wilson S. Fowler will succeed Mr. Cook aa general manager, heading the division's operations In nlns western states. Including Utah. Wall Still Dry HYllaTrBe5Saiti'Ef tfpet"LTf!H'ttlfci near Rock Springe, Sublette county, Wyo, thue far la unproductive. unpro-ductive. It was disclosed Ssturday. Drilled by the Superior Oil Co. to a total depth of 20.521 feet, the well penetrated the thickest section, sec-tion, of the Tertlsxy-upper Cretaceous Creta-ceous formation over cut In a wildcat. Gae-ctrt mud was logged at 11,-997 11,-997 to 12,108 and 15,600 to 15.720 feet but no free oil or gas flow wss ever encountered In the teat. A $1,000,000 rig was employed In the operation, but coat of the well is estimated at $500,000. Superior Is continuing to test the walL Find Oil Strain Equity Oil Co.'s Naples structure struc-ture test, Uintah county, already has encountered a small show of gas and a little oil staining In the Frontier formation, marker on which haa not been released. The well was drilling below 2000 feet on Friday.