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Show SUNDAY MORNING, MARCH 7, 19207 13 CUTPRilCIII to Ruin of Profitable Sfa&ll Total of Dealing!, but Overdrilling Tend bn the Whole Price Are Firm and Strong. Chance Oil Operation. a ) Division of Pressure Mean;, ' 1 Tbe Trlbo... 4 , NEW WMlh.r TORK, March Inclement 4. Injury of Prospects Even in Largest Fields. ti.a in cut down attendance of member. at th .took ..change and aleo the number of traders In eommlsalan houeea he today with th. result of a desultory mai-ka tn itocka. On th. whole prlre. were Overdnltlng has seriously cut dawn th 7 firm to strong. aereral epeclalttea moving production of oil wells lu four of th forward 3 point and more. Naturally, fr and new oil fields, among them Ranter In view of th email totat of It orftA waa not poaalbla to read In dealing. th price Burkburnett, according to the Lamp, tha 4 more change anything significant than ofnclal publication or th Standard Oft th effort, of speculator to company of New Jersey. While many of 0(4 acquire quirk profits, Th foreign exchange market reacted tho walla produced In great volumO when tr from tho level established the dav they were brought In, a comparatively et 7 y be-lo- n, a development which seemed to g repreeent considerable The range covered by sterling during the week waa I8Vi cents to the pound, so extraordinary an advance that at th lower level on Monday purchaser and Tuesday probably were aettv at the weekend In reatiilng their gelna. Since February 4 starling lias scored a maximum Improvement of more than JO cents to the pound, and at todavs final quotation the rate waa substantially above the point where tt began to drop tn the apectacu'ar decline of last month. It would be Interesting to know the extent to which tales of American securities for European account In the latt six week have created balances hare for England and Franc. Report of really axtenalv liquidation from abroad hav been beard and at the asms time ther have been expanding aalea of Brltlah, French and Italian government securities in our market. The many advertisement by banking and brokerage houses of these tesue which have appeared of late Indicates that a wide circle of Investors has been appealed to And tt stands to reason that the opportunity for a high return plus the speculative chance tn the exchangee of count lie Issuing the bonds has been accepted In many quarters. Also, sales of municipal bonds of Germany In other countries havt been reported on an expanding scale. These transaction of sumably have run up Into million dollars and may hav been a real Influence behind th rise of exchange. It remains to b teen whether or not the of ran be maintained. In upturn aterllng the last analvsis th Internationa) trad movements of th next few month will have mpre effect upon exchangee than a moderate transfer of gold to th United htate or th soatterad sales of foreign securities. profit-takin- , ; the past few days Thousands of in Womens Boots Fancy SPRING MERCHANDISE that was ids from Jobbers, Manufacturers and SEE $ Markets. This merchandise was id ve have marked the prices so ex- stern agree with ill nt us that these are d. WINDOWS! We will accept Mail , contingent upon specials not having received, but we reserve the ;or C. 0. D. Orders. -is Blouses Sale Price, $3.98. : , Crepe $2.19 Yard While the lot will last, Auerbachs will sell a large quantity of very fine pure' silk georgette crepe in the following colors: $2.24 Save Money at Hemmed Bleached Auerbach's G rocryterya acLr cktti ssgo 12.98 Georgette AKD Sego Milk, Tall Cans, 11c Can Limit 6 Size 72x90 Inches cAaV" . cans to a customer. $2.98. Dresses Several hundred Parkers Sweet Peas to a customer. Special Per Can 50-Pie- ce 12c of pairs mens black al gun-met- Shoes,on English or made $1.00 25 only, good looking percale house dresses. Theyll go fast at $1. Laces 60c 15 yd thousand yards of 'dainty Wash Laces, m Valenciennes, Cluny, Torchon and Oriental Laces. No regard has been paid to present and past values, but we unhesitatingly assert that no such values 'have been seen in the city for .many years. Several $14.29 33V3C Lillie. Girls Hand Bags, Best grade American porcelain, decorated in effective floral and conventional designs. Coats $3.98 Made of black ahd white small check material, lined throughout, t r i m m cd with white pique detachable $1.98 Genuine Guernsey Ware Fireproof Covered Casserole, 98c Made of silk moire and leather. Beautiful new shapes and new designs or handles. All fitted with mirror and coin purse. Limit 1 to a customer, (Auerbach's collars and cuffs. style, and Main Floor.) Electric Irons o n s. $3.98.' $5.98 winter ;22 girls $3.98 weight 8-l- b. .coats, sizes 6 to 12. Values to $15.00; .while they last, $5.98. t . $1.00 Stamped Pieces for Embroidery, 69c size ; guar-antee- e d Department Punch Cedar Oil Mops 1 Curtain Nets, 69c Yard A apecial purchase of a quantity of very ..fine Bungalow Net. A very remarkable value for 69c yard. Paint and Wall Paper 98c FREE A 25c bottle Polish with every Mop. Belted pockets fancy, but-- t siie, Girls Coats Heavy White Domet g Ladies' 50c Special Ginghams 27 Inches 29C Wide. . . . svavt a r MOMMSf I 0T4 t ( r ' i fjdll 01 I i i Overdrilling Begun. t 4 "As each well at Burkburnett was com- A pleted and began flowing Its enthuslastfs 06 owners believed It good for from on to tr three thousand barrels a day. Thereupon salt they shut It in or took only part of Us A J production and moved a few feet away H t to start another hole. "Todav. after completion of sufficient Fb Unet to Transport all production, th sad ft realisation has dawned on many that V o when all th wells tn the field are divid- nf ing the pressure of .the pool tn flowingn oh their oil to th line, the average produo-tlo- oh per well Is not In ths thousands, n i 0 but In ths small hundreds, and tha further fact Is becoming more and more evident that with an average of one well tn AA n a little over two acres even the hun- Ml dreds' cannot long be maintained. tr "Iiurlng the period under discussion HI ths large pools mentioned war all ma- u t A terially extended tn area. Their combined average production gradually In- ft creased from lOfl.OoO barrels a dav in May . to 155,000 barrels In August. Since then there bas been a steady decline to 130,004 0l , barrels. While Caddo. Ranger and Desdemona 1 have not turned our as well as expected earlier In the year, they have produced fl.lt i)I a large amount of oil, and because th producing area In this district Is constantly bslng broadenad. a large production is still confidently expected for some time to come. But the newer territory i appears to be no mope promising than ths old; there Is th same thin pay at Qt S greet depths and the same expensive vf drilling. h Cost of Wells High. In thl district, with the exception of Desdemona. the wells are drilled to a depth of J000 to 1600 feet at a cost of about 150 000 per wall. Add to this expense the original cost of acreage, occasional dry holes and unprofitable producers, lifting expense, gross production tax and Income and exceea profit tax, and It will be seen that an average gusher well is, after all, not such a big money-make- r. "Outside of Texas there la but one new pool of Interest. This Is at Homer, In the north central part of Louisiana, where six months sgo there were but one or two producing well. A shallow sand production waa originally developed, the wells coming In at anywhere from 100 to 1000 barrels with a few considerably higher, but recently deeper drilling has uncovered a very prolific producing formation at 2100 feet- To date, twenty wells have been completed to the deeper sand and each IB estimated to be good for from 5000 to 20.000 barrel per day. The gravity of the fresh crude la about 40 deB. grees "The Homer field as now drilled has a proved area of about fifteen hundred acres and there Is very good reason to think the area wilt be etlll greater. "The actual production' of the Homer field today Is less than 10.000 barrels What it will be as soon as pipe lines and atorage are provided is anybody's gueaa Work Is being rushed on half a doxen new pip lines and a hundred or mors steel tanka It is exfor pected there will soon be facllltie 50,000 barrels per day from tmg handling tX r Y V f ' I T - 55,000-barr- ORE Corsets 98c Mad of good Two shipments of ore, recently sent out from one of th blocks of ground In the Gemini mine, which Is being operated under lease, brought, according to a statement of John C. McChrystal, says the Eureka Reporter, net smelter returns of 516,544.50. Other shipments, which were almost as good, were taken from the same block of ground a few months previous and It is quite evident that this old time bonansa Is still to be reckoned with as a shipper of high grade ore. Manager McCrystal calls attention to the work whloh ha been don during the past year for the benefit qf the Eureka mines ground, this development campaign being handled through the Gemini. About 430 feet of drifting, raising and cross-cuttiwas done In the Eureka mine territory. Mr. McChrystal says that work now being don In the Gemini promises to result In the development of another or channel for th Eureka mines. Utah Banks and Industrials. Reported by t. A. Hogle A Co (A Bonk qual- medium and low bust; good boss supp o r t r s attached. Come in ity coutil, a and pink Mon- 100a. Club white. day special, 83,. Hew York Money. NEW 98e. TORK, -- Union Suits, 35c Or 3 for $1.00 A quantity of ladies weight union suits. ) storkaCo!nmbl Trnot 101b. Deoer- -t National SI Ob, Nations! Bank nf Republic 2XMi. 15b. rtah Saviors a Srenrtty Bute Bask Trnot 10Kb. Walker Bros. Book-r- o 2S8b. lodnotrlot btocka Amalgomated Bosar 15 00a, Conaolldated Waron 123a, Independent Coal 8Sa Mt Btntea Tel A Tel 1 00 01.00. standard Ceai o 49b. t Snrar ST0S.85, Ctah yire Clay14 2 Bob, g C 14 I 153b, Anal Sugar pfd 105 Hi. 104 8 L Stock Ex S Ms, Standard Coat Bonds B4. rtah Lt A Utah Fr S Lt 1st to a Pr 4 T2 14. Utah Beeoritle da Alia ftterllfl. Fine t el field. Open Stock Smart-Lookin- GEMINI MINE SHIPS HIGH GRADE 88 Inches Wide. 100 NEW YORK, March 4 A surprising rebound In foreign exchange, the entrance of the railroads Into a nsw era of .readjustment and th supreme court opinion absolving th United States Steel corporation from charges of Illegal practice were the conspicuous figures of the week' financial market. The most Important was the movement of exchange, because It waa attended by Indications that tha British trad balance is making rapid progreka toward normal. Although the return of the railroads was hailed with general satisfaction, there are as yet no signs that th altitude of investors respecting those properties has materially altered. decision Analysis of th steel "trust dampened the first outburst of bullish enthusiasm and was without favorable effect in other quarters where important judicial decisions are yet to be rendered. The turn Into March brought no change In the present credit stringency. Outstanding features of the stock market were restricted to such shares as motors, oils and related Issues, which strengthened, chiefly In response to favorable trade condition end pertly on the activities of pools. In other branches of th list evidence was not lacking that the period of liquidation, prompted by reduction of speculative loane under ths supervision of th federal reserve board, waa proceeding toward orderly lasts, either high-to- e lace or button style. These are good quality shoes, that are worth on todays market double the price marked in this Rock Bottom Sale $3.98. While they last. Dinner Sets $3.49 Size 70x70 $1.79 ? id r 1 Linen Finish Tablecloth For men who wear sizes from 9 to 11. Exceptional bargains. Limited quan Limit 5 cans to a customer. Bed, black, na ry, white, turquoise, Alice blue, tan, dark areeu, flesh, pink and lavender. Limit 10 yards Choofc Heavy $3.98 tities. American Sardines in Oil, No. Size Cans Special 5c Per Can $6.00 muuuLij I T House 10 lbs. Sugar $1.38 Special, $1.38. Heavy Rnr M MENS SHOES Attractive blouses in dainty georgettes, lovely crepe de chines, practical tub silks, lace trimmed voiles; our reduced price, Special purchase of 3000 yards of fancy silks. Stripes, plaids, figured poplins, etc. Extra special, $1.59 yard. We reserve the right to limit quantity. stylish lasts, with heavy or light soles; have high leather Louis heels. These Shoes are worth double and more than the price asked. Rock Bottom ivory Department. i- 51.59 Yd Several hundred pairs of womens .novelty style Boots, in black, brown, gray or white, made on ROCK Sis short time elapsed before high production eased off to comparatively low production. ' "Nix months sgo four new olt fields In Texas Burkburnett, Caddo, and Desdemona were tnreatciiing a veritable flood of production. Many large wells were dally bring completed at these ft urea mounted and placet production day after dav, potential faater than ac lual.' The highest point reached for th entire country waa almost 1.150.900 bar-r- e la per day and th average for the entire period was above one million barrels. "There wss considerably mors crude at hand than the demand tailed for. eape- -. dally at Burkburnett, where th few completed pip lines, th limited amount of empty tankage and tha congested condition of the railroads mad no other course possible than to wholly or partly shut in th walls xafter completion. , summer $3 March Herciotiit ft -tixty-da- bill. bllla aa baake, II bllla. $3.68; demftL S. paper, commercial $3.6ft: 51; commercial $3.62; cablets 13.76; cahlea, IS 74. Bclfrlas Iraace. demand. IS. 22. cablet, 11,20. Guilder, demand, S6; cablet. 87 Lire, demand. 17.92; cable, 17.90. Marka, tfmtfld, 1.06; cablet, 1 .06. Gortrameat beat, tetdjr; railroad boadt, Preset, eemasd, ateadr- - Mexlcta dollar. 994. Wyoming Oils Traded in Denrer. Weekly Metal Review. YORK. March A Steel billets wars tcarct and bare tdranced to $60 and orer. Steel ban are actllnc at $70 and upward, hut ufomobile manufacture bare bid etoaa to $00 la exceptional)? heavy and Demand for plate mill an told for months ahead. Tha tama condition alto applleo to wire products, lma production during Prbmar? exceeded ei? nation. The output for tho month waa 2.079,070 tone, ta ariinat $.915,181 ton tn January ami In February . 1919. 2 940.169 ton Tb tooe of tha market it eaaier and the tendency to haa been checked. 8ft- -l maker bar advance been arill&f baste iron at $41.60, a against the outaide market of $43. Copper la eaaier and quiet. Producer hav arid daring tha week at 11 fce fnr March, and offer second quarter at 19c. Dealer price are about aven with those of the producer. Lead la scare for prompt delivery and th announce cable market la atrong. Private that the British government haa declined to carry lead koncer on consumers account ad haa notified them to take delivery. Thta haa result ad In an easier London market. Kite la quiet and lower. Export demand ha stooped and comparatively little interest in shown by domestic consumer!. There have been sharp floctimriona in thy' Tendon tin The domestic market market. dropped I cent, but waa relatively stronger on account of improved exchange, toiler atked 62 He for spot and 63c to for futures. 1 and steady unchanged at ll7c Antimony for car lota. NEW Coffee Futures, 4a, 7. RalU And Industrials. (At Reported bf J. 1. Regia AO) fto Si-4Aflat Crnde $9. Big 64-6- 0, (Ae reported by J. A. Hosl A Cal Black Tail 23 2. Bot Vjt Burke Oil Twenty ral'a 151. off .14. Bock Creek, , Cftp Ro? 145 159, Cow (iWh Columbia Twenty Industrials 54 58, up .38,r failures In the T E WUIiama Elkhom 27 33. Bradstreets reports Pete 1 TB Bottim I ate 14 24, United Statue this week, against 105 last Great Lance 1bate week and -1 last year. Jnptter 4 T, Itinne? Tmk Pete 20 25. Luk Ret Ret Gold Import movement expected to 74 32. Mtn iioif Northt start at a rate of $- -5 Poo.ooe a week. do fM Ontwret 4ft Prod A Reff Com a rcxuar Texas company declared ftnaact 17 2? Prod 9V10H. R7 of 52 50. reiahie I tab Idaho Wind quarterly - dividend 9 10. Weat hipto 340-353Land declared Ehdiootl March ! John,n 13 10. 5, Wj Trv River 6 7. Phut OH rtold 76 90. IT OH A Gaa 2.5 SO apt a regular ntquarterly dividend on com51.15 "5 arnl 51 on elnck mon prtfiried. Pete 25 30, Tern Bril 21 24. Redbank 4iU. 7. Preetao payable Apr I t. THE DIO STORE li trk 9$. le: 'ii Ullj iVi "fU' t g 3i-- . ' To OlJ al'1 u: NEW YORK, March $. The market for cof fee futures opened at a dorlloe of 4 to 6 points under realising, wbteh was probahir .RS-promoted by the decline reported In fUato future. There were very few contracts for sale, however, and prices soon turned firmer on renewed covering, which waa supposed to be largsljr for trad account against resale of coat and freight coffee or aalao U the , pot market. May told up to 15.29, making new high ground for the movement, with active mnts showing net gains I to in points during tn middl of the morning, but prices essod off later ofider renewed realising, with May doting nt 15.16. The general market claoed net nnchanged to stx points lower. Closing bids. March, 14.80; May. 15 16: Jnli 16.41; September, 15.20; October, 15.20, December, 15.21. Bpot coffee, firm; Rio 1315Vk; Ban-to- t Atnal .fOUHDCD IMA (J I |