The Times from Shreveport, Louisiana • Page 33

ir The Shreveport Times Friday, Jan. 24, 1958 3-D NEW YORK STOCK EXCHANGE FACTOGRAPH OIL AND GAS NEWS Courtesy of Merrill Lynch, Pierce, Fenner Beane SHREVEPORT DISTRICT Low 69 High 67 FRINGE BENEFITS KM CENT OF WAGE 4.4 Close 62 31 74 V. Reyn Tob Richfield Oil High 54'. 33 76 40 60 Air Redue Alleg Lud Allied Chem Allied Strs Allis-Cha) High 62 Va 31 75 72 54 14 41 31 Kroger Lehigh Port Lib Owens Ligg Sc My Link Belt Loews Lockheed Lone Star I 1 Alum Co Am 63 Amerda Pet SO 36 Lorillard 17 36 15 42 40 Amer Airl Am Brk Sh Am Brdcst Amer Can Am Cyanam Lou Sc Nash. 61 Mack Truck 25 Am 35 Am RadASS 13 Am Stl Fdy 31 Am TAT .172 Martin Mead Merck Merritt CAS Mid Sth Ut Minn Honey Minn Min Min Maid ission 36 36 39 18 37 77 78 7 34 81' Royal Dutch 38 Safeway St 25 St San 12 St Reg Pap 29 Schenleylnd 19 Schering 34 Seaboard Air 23 Seaboard Oil 59 Sears Roe 26 Servel lnc 4 Sharon 29 Shell Oil 62 Shell Trans 19 Sheraton 11 Sinclair Oil 50 Socony 48 Southern Co 26 Sou Gas 36 So Pacific 37 South RR 32 Sperry Rand 19 Std Brands 45 Std Oil Cal 45 Std Oil Ind 38 Std Oil NJ 50 Std Oil Ohio 44 Stude-Pack 3 Sunray Oil 22 iswift jtr rv, as a Am Tobac Am Viscose Anacon Anderson Armco Stl 28'4 41, 25'.

Field Flank Test Dually Completed As Gas Producer By RAY HOLLAND Times Oil Editor Completion for dual pay of a gas well on the north flank of the Ada field in Bienville Parish led last week's exploration activity in the Shreveport District of the State Department of Conservation. High Cosden Pet 18 Crane Co 27 Crown Zel 47 Cruc Stl 18 Cub Am Sug 20 Curtis Pub 10 Curt-Wrig 27 Dana Corp 44 Deere Sc 29 "a Delta Air 18 Doug Aire 64 Dow Chem 56 Dresser Ind 38 Du Pont 183 Eastn Airl 34 Eastmn Kod 102 El PasoNGas 30 El Auto Lt 27 Emerson Ra. 4 Erie KR 8 Fairrh 8 Fedriers 13 Ferro En ml. 19 Firestone 89 Fla Power 58 Fla Pow 56 Foremost 16 V. Ford 41 Foster Whl 36 Freept Sul 70 Fruehauf Tt 10 Gen Am Oil.

28 Gen Dynam 62 Gen Flee 63V, Geiv. Foods 52 Gen Motors. 35 Gen Port C. 57 Gen Pub Ut. 39 Gen Tel 42 Gen Tire 28 Geo Pac Ply 29 t.os 46 Mission Dev 21 Miss RivFuel 29V TGTC Group To Be Given Safety Award The Haughton compressor crew of Texas Gas Transmission Corp.

will be honored Monday for completion of five consecutive years of accident-free work. The 14-man crew will be presented the company's W. T. Stevenson Safety Award at a dinner at which they will be special guests. The dinner will be held here at Sansone's Restaurant.

C. J. Overby, station manager, will accept the ward, a bronze plaque named for the late president of Texas Gas, on behalf of the men which whom he works. J. Theo assistant manager of safety and training for Texas Gas, who will present the award, will pay tribute to the members of the crew for their safe work practices.

Members of the crew, in addition to Overby, are Williams W. Bucke-lew, Weldon L. Burroughs, Leo M. Campbell, Lee L. Dunaway Charles 0.

Egleston, Kenneth H. Glenn, George J. Grau, Dennis A. Layfield, Fay A. Puckett, Henry L.

Suggs, Ross G. Sutherlin, William H. Turnley and Lawrence H. Walker. Monsanto 35 Mont Ward 33 Motorola 39 Nat Biscuit 43 Nat Csh Reg 52 Nat Cvl Gas 33 1957 1929 Armour 13 Ashland Oil 16 Asso Dr Grts 30 Atch St SF 19 Atlant Ref 39 Atlas Corp 7 Avco Mfg 7 Bahcock AW 32 Bait Ohio 26 Bell Aire 16 Bendix Avl 49 22 Sylvania Elc 35 Nat Distils Nat Gvpsum Nat Mallea Nat Stl Nat Supply Newpt Ship Ctl Niag Mohwk 45 25 52 37 43 15 19 Low 67 59 38 24 12 28 18 33 22 58 26 4 29 62 19 10 49 47 V.

25 35 36 31 19 44 'a 45 V. 37 49 44 3 22 33 35 61 26'. 16 27 28 47 22 33 12 24 15 14V. 32 94 29 25 54 25 38 29 33 54 6 30 "a 17 57 25 16 21 62 38 18 16 41 26 75 Close 18 27 47 18 20 10 26 44 29 18 64 56 38 183 34 100 30 27 4 13 19 89 58 56' 15 41 36 70 10 28 60 63 'a 51 35 57 39 42 28 29' 4 25 34 67 78 42 34 24 15 18 17 107 41 55 54 29 70 78 312 29 71 90 30 'a 41 39 24 54 32 76 Close 67 60 38 25 T2 29 18 34 23 58 26 4 29 62 19 11 49 48 26 36 37 19 45 45 37 44 3 22 33 35 62 26 16 27 28 47 22 33 12 25 15 15 33 94 293, 43 26 54 25 38 29 33 55 6 31 17 57 25 16 21 63 38 18 16 41 26 77 Low 18 26 47 Va 18 20 10 26 44 29 18 63 56 37 181 33 99 29 27 4 7 8 13 19 89 58 56 15 40 35 70 10 28 60 62 51 35 56 39 42 27 28 25 34 67 78 42' 34 1 4 24 15 18 17 106 41 54 54 29 70 78 310 29' a 71 90 30 V. 39 39 24 54 32 76 Close a3 S3 76 40 25 63 K9 17 33 35 42 40 13 172 81 ,8 41 24 46 13 16 30 19 39 7 7 32 26 16 49 19 39 38' 62 28 33 30 'i 13 11 31 47 25 14 36 lfi 62 13 42 19 V.

52 31 13 22 54 49 105 21 27 16 25 50 43 47 44 71 41 34'. Low 52 32 75 39 25 62 89 17 35 15 42 39 34 12 31 172 81 27 41 24 46 13 16 30 18 39 7 6 32 25 16 49 19 38 37 62 28 32 30 15 11 30 46 25 13 35 16 62 13 42 18 51 31 13 2 53 48 104 20. 27 16 25 50 43 47 44 71 4n 34 29 74 71 53 14 40 30 35 61 24 34 Va 36 38 18 37 76 77 6 34 21 29 34 33 39 43 'i 52 33 22 44 24 51 36 43 15 30 57 "4 29 34 13 30 43 41 41 49 14 41 33 26 87 12 21 51 37 13 39 44 19 24 56 31 47 31 33 217. 19 42 25 33 31 72 53 14 41 30 36 61 25 34 "a 36 38 18 37 76 77 6 34 21 29 "a 34 ij 33 39 43 "a 52 33 22 45 25 51 37 43 15 30 59 30 35 13 3l 43 41 41 50 'a 14 41 34 27 88 12 "4 22 51 37 13 39 45 V. 20 2 56 32 47 31 33 22 19 42 25 33 It was Carter Oil No.

Norf Wes 59 Nor Am Avi 30 Nor Pacific 35'. Texas Corp 62 Tex Prod. 27 Tex Sul 16 Texas Inst 27 Tex PacCoal 28 Texas Util 47 Tide Wat 22 Timk.Roll 33 Trans Air 12 Twen Fox 25 TGL Oil 15 Underwood 15 Un BagAPap 33 Un Carbide 94 No'west Airl 13 Benef Fin Beth Steel Boeing Air Borden Co Borg-Warn Bridgep Br Buc.vrusc Budd Mfg Burl Ind Burr Corp CIT Financl Canad Pac Capital Airl Carrier Case Co Caterpillar Celanesc Cent Sou ChamD Oil 39 38 62 28 33 30 'a 15 11 31 47 25 '4 14 36 17 62 13 42 Getty Oil 26' Ohio Oil Okla GAE OHn Math Otis Elev Pac CAE 30 43 41 41 50 Va 34' a 67:4 78' Glidden Co Goodrich Goodyear Grace Pan Am Air 15 42' Panhan EPL 42 Gt North Ry 34 Union El Mo 29 Union Oil 43 '4 Company Will Produce Higli Energy Fuels BARTLESVILLE. Jan. 23 (IP) Phillips Petroleum Co.

Wednesday announced the formation of Astrodyne, a corporation spe-. cializing in high energy fuels, owned jointly by Phillips and North American Aviation, Inc. Officials "said the new company, will unite the efforts of the parent, firms in developing solid propel-lants for rockets, missiles and aeronautical power units. Officers of the new corporation-are: President, J. L.

Atwood, president of North American: vice president, R. W. Thomas, Phillips vice president for research and development; treasurer, R. A. Lambeth, North American vice president, and treasurer and secretary, Paul J.

Parker, secretary and assistant treasurer of Phillips. Eight officials of the two comDa-nies were elected directors of Astrodyne. Named from North Amer- ican were Atwood, Lambeth, J. S. Smithson and S.

K. Hoffman. Phillips officials elected as directors were Paul Endacott, president; Stanley Learned; W. W. Keeler and Thomas.

The new company wMI have headquarters and operations at Air. Force Plant 66 near McGregor, where Phillips has conducted solid propellant research and development for the Air Force since 1952 and currently employs about 900 people. Manufacturing line at this plant produces jet-assisted take-off (JATO) motors and makes other rocket engines and propulsion units developed there. Phillips employes at McGregor and some of North America's personnel will transfer to the new company. Opinion Given On Oil Buying AUSTIN, Jan.

23 (1NS The legislature's attempt to stop the state from buying gasoline from companies which import foreign oil ran aground today. Atty. Gen. Will Wilson, in an opinion for board of control director William J. Burke, ruled the legislature resolution could not take precedence over the statute setting ureen Z43 Greyhound 15 Grum AirEn 18 Gulf 17 Gulf Oil 107 19 Ches Sc Ohio 52i 34 27 88 12 22 52 37 13 39 45 20 Gulf St Ut 41 Param Pic Penn Dixie Penney JC Penn RR Pepsi Cola Phelps Dod Philco Phillips Pet.

Pittson Plough Pl.vmuth Oil Union Pac Unit Aire Unit Airl Un Fruit United Gas US Rubber Steel 1 Un Strs II Pf Vanadium Warner Br 26 54 25 30 33 55 6 31V, 17V 55 Halbtn Oil Houst PAL 111 Central Inger-Rand Chi Sc GW 32 Chi Sc StP 13 Chi I Sc 22 Chrysler 54 Cities Serv 49 Coca-Cola 105 Col Fuel Mr 21 55 29 70'a 78''. Inland Stl 25 57 Warner Col BroartA- Z7'a Proc Gam 56 Pub Sv GA-E 32 Wesson OAS 25 West Un .17 16'' 47 Va Westg AirBr 22 Westing El 38 'a Int Bus Mch 313 Int Harvr 29 Int Nickel 71 Inter Paper 90 Int A 30 Johns-Man 41 Jones Sc Lau 39 Kaiser Al 24 KCS Ry 54 Kelsey HW 32 Kennecott 77 V. Colum tas Comb Eng Coml Cred Comwl Edsn Consol Edsn Cont Can Contl Mot Contl Oil Corn Prod 25 51 43 47 44 71 41 34 18 16 Pullman lnc Pure Oil Radio Corp Raytheon Rppub Avi Repub Stl Revere Cop Reyn Met Whelg Stl Whirlpool Wilson Co Woolworth 31 34 22 19 42 25 33 41 Yaie Sc Twne 26 Youngs 77 in the Nacatoch sand after drilling to 1.260 feet. BED RIVER Ball Bayou Stout drilling Co. No.

A-l Riemer Calhoun, S26-13-11. abandoned after drilling to 2.848 feet. WEBSTER N. Shongaloo-Red Rock Hunt Oil Co. No.

1 Mrs. Jacinta K. Sale, sll-23-9. completed to flow 52 barrels of 52.6 gravity oil from perforations 11.420-54 feet in the Smackover zone through a 1264-inch choke with tubing pressure of 500 pounds and gas-to-oil ratio of 3,853:1. after drilling toll.

572 feet. WINN Joyce Bonanza Lease No. 8 Tremont Lumber s24-12-2, completed to pump six to eight barrels of oil and 15 barrels of water daily from the Wilcox sand after drilling to 1.178 feet. Other significant activity, listed by parishes and field, included: BIENVILLE Kinsey and Kinsey No. B-l Woodard-Walker northeast of SE SW S31-17-6.

Cypress Springs outpost two miles east-southeast of production and three miles southwest of Bryceland. perforated feet, completed as gas well and waiting on potential test, after drilling to 8.433 feet. BOSSIER Elm Grove Johnscott Oil and Gas Co No. 1 Roos, south-southwest of SE SE NE NE 814-16-12. about l'a miles, north-northwest of Elm Grove and l34 miles southeast of Taylortown in the Elm Grove field area abandoned in December of 19a6 alter drilling to 7,158 teet.

perforated 7.198-7.200 and 7.204-9 feet. Testing after drilling to 8.703 feet. Benton Sunray-Mid-Continent Oil Co. No. 25 Beaton Unit S-7-20-12.

about 5 hi miles northeast of Benton, deep test waiting on orders after drilling to 11.4b feet. CADDO Simpson Lake Kinsey and Kinsey No. 2 N. L. Adams about 'a-mile east of the Mira field and l' mile west-southwest of the Simpson Lake ffield testing at 2.851 feet.

CLAIBORNE Haynesville W. T. McElwee Jr. No. 1.

T. W. Sherman. S15-28-8. testing on pump from 2.765-72 feet after drilling to 3.070 feet.

Barnwell Drilling Inc. No. 1 Ed AMERICAN STOCK EXCHANGE Courtesy of Merrill Lynch, Pierce, Fenner Beane Okla. Price War On Gasoline Ends OKLAHOMA CITY. Jan.

23 (INS) A half-hearted gasoline price war came to an end today when retail prices were hiked two and three cents a gallon in the Oklahoma City area. The Knox and Hudson independent stations hiked prices three cents a gallon and Continental Oil a major oil firm, reportedly wiped out a 2.1 cent dealer allowance effective today. The actions came after four weeks of lower pricing among independent and major firms. Set Hearings Here JanT29 Hieh Low Close High Low Close Hich Low Close High Low Close Am Marac 6 6 6 Cdn Att Oil. 4 4-V 4 Kin Ark 3 3', 3 Pantep Oil 1 1 1 Amurex 2 2 2 Coast Oil 1 1 1 Kaiser Mot 9 8 9 Rovalite Oil 14 14 14 Ark La Gas.

27 26 26 Creole Pet 71 67 71 La LandAEx 38 38 38 Scurry 2A 2 2 Bailey Sel 8t 81 8t Cub Am Oil 3 3 3 McDon Aire 25 25 25 Sibony Oil Vi it Banff Oil It 111 1 Cuban Venz 1 1 1 Me Pub Svc 17 17 17 Tampa Elc 38''. 38 38 Barium Stl 4 4 4 DuMont Lab 4 4 4 Merrill Pet 9 9 It 9 Technicolor 4''. 4 4 Brit Am Oil. 35 35 35 El BondASh 28 27 28 Mid Pet 8 8 8 Thikol 40 40 40 British Pet 12 12 12 Fargo Oii 5 5 5 -V Zinc 21 21 21 Tran Cub Oil 1 1 1 Cal El Pwr 14 14. 14 Humble Oil 50 50 50 No Can Oil.

21 2- 2(S Foil 22 22 22 Campb Chib 4 4 4 Imperl Oil 4" 40 40-1. Pac Petrol 19 19 19'. Woodlev Pet 43 43 43 Can So Pet. 4tt 4 4 Int Petrol 37 36 37 Pancoa Pet 6 5 6 1 E. W.

Merritt, et al, east of SE NE, S30-18-7, about a mile north of production in the field and about three miles west-southwest of Gibs-land. The well was completed to flow 5,170,000 cubic feet of gas daily through 2464-inch choke with tubing pressure of 1,545 pounds from perforations feet in the Hoston (Travis Peak) zone, and to flow 3,900,000 feet of gas daily through 2464-inch choke with casing pressure of 1,165 feet in the Hill zone of the Rodessa sand after drilling to 8,150 feet. There were nine field tests completed as producers and two plugged and abandoned as dry holes during the past week. The district field report listed 41 active rigs. Other completions and abandonments, listed by parishes and fields, were: BOSSIER Redland Coulston Drilling Co.

No. 2 R. C. Keoun et al. S30-23-12.

completed to pump 27 barrels of 41 gravity oil daily and 50 per cent acid water from open hole 6.293-6.300 feet in the Pettit lime after drilling to 6.305 feet. Fair Oil Co. No 5 R. C. Keoun et al S29-23-12 re-tested to flow 108 barrels of 41 gravity oil daily from open hole 6.280-94 feet in the Pettit lime after acidizing with 12.000 gallons of acid.

CADDO Greenwood-Waskom Cox and Walker No. 1 J. W. Dunn et al. S14-17-16.

completed to pump 16 barrels of 43 gravity oil and 33 per cent water daily from perforations feet after drilling to 8.605 feet. Hunt Oil Co. No. 1 Jacobs Land S18-18-15. preparing to plug and abandon after drilling to 8.605 feet.

W. C. Wentworth No. 1 Birdwell. S29-17-16.

completed to pump 22 barrels of 36.4 gravity oil and 50 per cent water daily from perforations 2.379-86 feet in the Fredericksburg lime after drilling to 2.464 feet. Miller's Bluff Inland Drilling Corp. Akin No. 5 Alton Keoun. et al.

s9-22-14, completed to flow 55 barrels of 44 gravity oil and 22.000 cubic feet of gas daily through 1264-inch choke with tubing pressure of 180 pounds, casing pressure of 390 pounds and gas-to-oil ratio of 400:1 from perforations 2.820-24 feet in the Paluxy sand after drilling to 2.975 feet. Simpson Lake Inland Drilling Co. No. 3 Alton Keoun. S4-22-14.

completed to pump 25 barrels of oil daily from perforations 2.848-98 feet in the Paluxy sand after drilling to 2.975 feet. Pine Island Oil No. 3 Parkes. S15-21-14 abandoned after drilling to 967 feet. DE SOTO Groean Deltex Oil Co.

and Stroud Brothers No. B-l W. G. Lord et al. sl-10-11.

completed to flow 41.25 barrels pf 43 gravity oil daily through 1164- UNLISTED STOCKS BATON ROUGE, Jan. 23 UP) DOW JONES AVERAGES NEW YORK. Jan. 23 0J.R) Stocks Open High JLow Close Chg. 30 Inds .445.29 449.02 444.18 447.93 2.23 20 Rails ..105.82 107.07 105.44 106.69 0.46 15 Utils 71.45 71.68 71.02 71.360.18 65 Stks I5.1-?? 152.55 150.82 152.08 0.52 Transactions in stocks used in averages: Industrials 204.400 Railroads 71.600 Utilities 21.900 Total 297.900 Bonds Close Chg.

40 Bonds 88.76 0.07 10 1st Rails 88.81 0.24 19 2nd Rails 80.80 0.03 10 Utilities 92.69 0 03 10 Industrials 92.75 Unch Dow-Jones commodity futures index (19C4-26 average equals 1001 closed at 155.45. THE NATIONAL Industrial Conference Board calculated that fringe benefits take in the average 6.4 of wage while thev amount to only 1 in 1929. COTTON NEW ORLEANS (P Cotton futures declined here today under long liquidation and hedge selling. Closing prices were barely steady 75 cents to $1.20 a bale lower. High Low Close Mar 34.96 34.83 34.83 May 35.15 35.06 35.06 July 35.13 34.98 35.01b Oct.

34.48 34.25 34.32 Dec 34.25 34.09 34.12 Mar 34.00 33.88 33.95b May 33.98 33.88 33.86b July 33.18 33.18 33.07b b-Bid. NEW YORK, Jan. 23 Cotton futures continued to decline with prices moving over a fairly wide range today. Final prices were 60 cents to $1.20 a bale lower. The market was nervous because of uncertainty over pending farm legislation and whether any changes will be made in time to affect the 1958 cotton crop.

Slow buying of cotton textiles and reports of an easing in prices on some types of cloth contributed to the pressure on nearby futures positions. Hedge selling was moderately active in nearby deliveries. The Census Bureau reported gin-nings from the 1957 crop, prior to Jan. 16, totaled 10,632,810 running bales. This indicated that ginnings between Dec.

12 and Jan. 16 approximated 1,432,000 bales. Cotton analysts said there were record ginnings for that period. They felt the final ginnings report would easily reach the last cotton crop forecast by the Department of Agriculture in December which was equivalent to 10,907,000 running bales. High Low Close Mar.

34.95 34.81 34.86 May 35.17 35.03 35.06 July 35.15 35.01 35.01-02 Oct 34.47 34.26 34.35 Dec 34.29 34.06 34.17 34.14 33.92 33.93 May 34.01 33.72 33.80-81- July 33.27 33.08 33.10B Middling spot 36.10N off 5. N-nominal; B-bid. SHREVEPORT COTTOV Courtesy Ferguson Cotton Co. Strict middling 34.25 Middling 33.2a Strict low middling 29.00 middling 2.0 good ordinary 23.25 Good ordinary 21. 2o Seven-eighths 3.50 lower 1,516 inch 1.50 lower Inch 132 1.00 higher Inch 116 2.00 higher RECEIPTS AND SHIPMENTS Feceipts 0 Shipments 570 'Total receipts 58-2i5 'Total shipments 9Zji Stock on hand 34.618 NEW ORIEANS SPOT COTTON NEW ORLEANS Jan.

23 Spot closed steady 73 cents a bale lower. 'l ow middling 2fi 20 Middling 34.3.-J Cood middling 35. 3a Beceipts 24.412: stock 418.14B. AVERAGE MIDDLING PRICE ORLEANS Jan. 23 Pi The average price of one inch spot cotton "at 14 designated southern spot markets today was 10 cents a bale lower at 34.82 cents a pound Previous day 34.

S4: week ago 34 B5: month ago 34.88: year 33.49. Average lor the past 30 days 34 85. Middling 15-16ths inch 33.56. Sales 81.273. i GRAIN CHICAGO, Jan.

23 A govern- Bid Aztec Oil. Gas 12 Barnwell Offshore 44 Barnwell Offshore com w.i. 1 Belle Isle 3 Cent La Elec 36 Chi Mill Lbr 18 Comwlth Oil 1 Franco Wyo 3 Gulf Lease 1 Gulf Interstate 10 Huskey Oil 7 H.vcalog 1 Lone Star Steel 23 McRae Oil 2 Miss Shio 17 Olin Gas A Oil 15 Pan Am Sul 14 Pubco 4 Rimrock Tide .1 Sou States Oil 'l Tenn Gas Trans 3" Texas East Trans 24 Texas Gas Trans 20 Texas Natural Gas 44 Transc Gas 17 '4 up purchase procedures. four miles east of Minden, drilling below 8.185 feet. X.

Shoncaloo Red Rock David Crow Trustees No. 1 Haynes Unit. S18-23-9. waiting on potential test to dual completion after to 11.132 feet WINN Wildcats W. Carlton Green No.

1 R. E. McCartney. SW SW S21-10-1. about 3L miles southwest of Curry.

4'2 miles west-southwest of Salt, o'i miles east of Pleasant Hill and six miles southwest of the Crossroads field, to drill a 3.500-foot Wilcox sand test, building roads. Conservation Commissioner John B. Hussey today announced a series of oil field hearings Feb. 25 at Shreveport and additions to hearing Jan. 29 at Baton Rouge and Feb.

12 at New Orleans. The Shreveport hearings by fields: Bethany-Longstreet Determination of Crane Zone productive limits. Colquitt Proposed deletion of gas sale connections. Delhi Proposed deletion of gas sale connections. Delhi Proposed abandonment of declining wells.

Lamar Definition of Tuscaloosa formation area. Simsboro Feasibility of triple completion. Stonewall Proposed gas unit for Ko- dessa sand series well. The added Baton Rouge hearing will be on proposed triple completion of a well in the West Delta block 30 fie Id. The added New Orleans hearing will wards et al Fee.

west and slightly south of the northeast corner of S22-20-8, about 1V miles southwest of Holly Springs. 2'i miles northwest of Harris, eight miles northeast of Minden. and five miles north-northeast of the Minden field, to drill a Paluxy sand test. DE SOTO Wildcat Caddo Oil No. 1 Ramsey.

SW NE NE S33-13-16 about three miles west-southwest of Long-street and 'i mile north of the Logans-port field flowing salt water with skim of fracture oil after drilling to 2.883 feet. The Hunter Inc. No. 1 Louisiana Land and Investment center of S15-12-14. about two miles north of Pettit lime production in the Spider field.

miles south and slightly east of Grand Cane, and 1134 miles southeast of Crane zone gas-distillate Pettit lime production in the Bethany-Long-street field, to drill a Crane zone Pettit lime test. Rigging up. WEBSTER Pan American Petroleum Corp. No. 1 Effie McDow Lee.

SW NE S19-18-8, third try at confirmation of the Min STOCK SALES WANTED TO BUY OIL PRODUCTION Will pay $2,000 barrel for STOCKS NEW YORK, Jan. 23 Mft A late pick-up shoved the Stock Market to the upside today in a sluggish session. Volume dipped below two million shares to the lowest in ten days. Tobacco shares continued their rise of yesterday. Building material stocks did well on a prediction by Housing Administrator Cole that 1958 housing starts would top last year's by ten per cent.

After the close, the federal reserve banks in New York, Cleveland, Chicago, Richmond, St. Louis and Kansas City lowered their discount rates to 24 per cent from 3 per cent, following the lead of the Philadelphia bank of Tuesday. The Associated Press average of 60 stocks rose 70 cents to $160.80 with the industrials up $1.20, the rails up 60 cents and the utilities up 10 cents. Volume was 1,910.000 shares compared with 2,390,000 yesterday. General Dynamics was the most active stock, off at 60.

on 76,100 shares. Second was Royal Dutch, off J8 at 383s on 30,000 shares. Third was Avco, up at 7 on 29,900 shares. Next came U.S. Steel, up 38 at 55, and General Motors, unchanged at 35.

Lorillard was the most actively traded tobacco, rising and was followed by Philip Morris, up IVi. U.S. Tobacco rose and American Tobacco Detroit Steel was off 'i as its management asked directors to postpone dividend action until February. Fractional gains were made settled production. Robert S.

NEW YORK, Jan. 23 UP New. York stock sales: Approx. final total today 1.910.000 Previous day 2.390.000 Week ago 3.945.650 Month ago 2.280.320 Year ago 1.910.250 Two years ago 1.837.400 Jan. 1 to date 36.265.881 1957 to date 38.75.0P6 1956 to date 41.495.546 Graham, Belmont Oil 403 SPOTLIGHT STOCKS NEW YORK.

Jan. 23 (Pi Sales, closing price and net change of the 15 most active stocks today: Sales Close Chg. Gen Dynam 76.100 60T l' Royal Dutch 30.000 383s Is Avco Mfg 29.900 7 'a US Steel 29,900 55 Gen Motors 25.600 35'' Lorillard 24.600 36 3 Beth Steel 22.600 39'4 Nor Am Avia 22.400 30'2 Std Oil NJ 22.200 50 a Sunshine Mng 22.0P0 83 l'. Paso 19.900 30'. 5 Am Radiator 19.000 13' Vi Philip Morris 18.500 48 l' Benguet 15.100 l' Am Motors 14,500 9'4 Bryant Tyler, Texas.

mcn cnoKe wiin tuomg pressure ot us pounds, and casing pressure of 300 be on proposed dual completion of a den field about 1 mile west and pounds from perforations 1.220-34 feet slightly south of the discovery well. well in the Lake Arthur tieid. LIVESTOCK CHICAGO un USDA Salable hogs 9,000 2-3 190-230 lb. butchers 20.00; 20.50; few No. 3 lots down to 19.75; 1-2 these weights 20.50-20.75; few lots mostly is 20.85-21.00; 2-3 240-260 lbs.

19.50-20.00; few 1-2 240 lbs. 20.25; 2-3 mostly 3s 270-290 lbs. 19.00-19.50; 3s up to 310 lbs. down to 18.50; mixed grade 375-550 lb. sows 16.75 to 17.75; 340-360 lbs.

18.00-18.25. Salable cattle calves 100; high choice and price steers 29.00-32.00; mixed choice and prime 30.50; high good to average choice 25.25-28.75; utility and commercial cows 15.75-17.50. FORT WORTH FORT WORTH. Jan. 23 flNS (USDA Cattle 700.

calves 300: slauch-ter steers and heifers in small supply, steady to weak, cows uneven, mostly steady, some cutters stronger, bulls steady to strong, slaughter calves tinder 500 lbs steady, others weak to 50 lower. by U.S. Steel, Bethlehem, Youngs- town aheet and Lukens. As building materials advanced. Johns-Manville added 1, U.S.

Gypsum Celotex 1, Best wall Packed with good lavor for only a few cents lit? I j- I' i J-i vt' I mW1 fv v. Air' Ilk and National Gypsum 1. Corporate bonds were higher. U.S. government bonds advanced.

MARKETS AT A GLANCE By THE ASSOCIATED PRESS NEW YORK Stocks: Mixed; changes narrow. Bonds: Higher; governments in demand. Cotton: Lower; hedging and liquidation. CHICAGO Wheat: Higher; short-covering. Corn: Higher; short-covering.

Oats: Higher; short-covering. Hogs: 25 to 75 cents lower; top $21. Cattle: Steady with Wednesday's close; top $32. Soybeans: Higher; expert buying. Poultry: Steady; unchanged.

Eggs: Steady to firm; unchanged to 1 higher. Says '58 Outlook Not Too Bright CAMDEN, Jan. 23 (Special) 0. C. Bailey of El Dorado, chairman of the Arkansas Oil and Gas Commission, told the Lion Club yesterday that "the outlook for 1958 is not too bright." Inventories of crude oil products now are over 40 million barrels more than they were a year ago, he said.

He also expects a drop in crude oil prices in 1958. But during 1957 the oi industry in Arkansas fared better than in other states and exploration and development work was at an all-time high since Smack over boom days of 1925, he added. Bailey also discussed the salt water pollution and said it was Venezuela Oil Operations Okay HOUSTON, Jan. 23 UPV-Oil industry sources here reported today there has been no indication that Venezuelan oil operations have been affected by the fall of President Marcos Perez Jiminez. Stockers steady to- weak, 15 per cent cows.

50 per cent stocker cattle and calves. Standard and good slaughter steers and heifers 21-24. few choice 25-26. most utility cows 16.50-17.50. few commercial canners and cutters 10.50-16.

strongweight cutters to 16.50. shelly lightweight cows 9-10. Utility buMs 18-19 50. commercial mostly 20 individual 20 50. Good and choice slaughter calves 23-26.

not many above 25 standard 20.50-22.50. cull and utility 14-19. Medium and good stocker steer calves 19-26. Hogs 300: Butchers steadr to mostly 25 lower, sows steady. Mixed U.

S. No. 1-3 grade 210-245 lb barrows and gilts 20.25 and 20.50. latter price largelv on No. 1 and 2 grades Few lots No.

1 and 2 grade 180-200 lbs 21. Sows No. 1-3 grade 270-400 lbs 17-18. few 425-600 lb sows 16.50-17. Stags 12-14.

Sheep and lambs 1.200: Receipts mostly lambs, with a good share delivered on contract Slaughter lambs and yearlings steady, quality considered. Feeders unehnaged. Good milk fed lambs 24. utilitv and good shorn slaughter lambs with No. 1 and 2 pelts 23 and 23.50.

Good shearing lambs 23.75. most medium and good feeder lambs 22-23. Utilitv and a few good shorn slaughter yearlings 20.50. "It appears that both sides real ize that for the welfare of the nation the oil industry should be protected," said a spokesman for one firm with Venezuelan interests. more Spokesmen for other companies said there have been no reports of trouble in the oil zones, which, for the most part, are some distance from Caracas.

Several thousand Texans are ment announcement that No. 3 and A grades of corn have been re-Imoved from its export sales list and will be stored indefinitely Ihelped boost the price of the grain a cent a bushel on all the futures 'contracts today, At the close, wheat was Vt-Vn higher, corn 1 cent higher for all deliveries, oats V-Vz higher, rye Ji-lV higher, and soybeans Va-1 Ihigher. quotations CHICAGO. Jan. 23 WHEAT High Low Close 2 18 2.1fi, 2 174 2.11- 2.10''.

2.12' IBS'. 1.84' 1.844 Sept 1 88 1 87'4 1.87. 1-92'a 1.91 'a 1.92 CORN- 1.10'. IPS'. 1.10 l.m.

1.12s 1.13 'July 1.17'4 1.16'. 1.17' Sept 1.17ia 1 lfi''4 117'4 Dec 1. 13' 112 113'4 OATS 'March" 621i .61 May 60 .5934 "July .56 i .56 Sept 57 'a .561, 57', a RYE '2. March 1 25 1.234 125 'May 1.19 1.18 US' July 1.10 1.09 110 Sept 1.12 1.11 1.12 SOYBEANS 'March 2 25 2.24 2.25 May 2 29 2.27 2.29 Julv 2.29 2.27 2.29 Sept 2.16 2.15' 2.15 iov 2.13 2.11 2.12 LARD March 11.70 11.65 11.70 May 11.75 11.72 11.72 July 11.75 11.75 11.75 Sept 11.80 11.80 11.80 Cotton Ginnings Total 10 Million- GOOD NEW YORK COTTONSEED OIL Closing prices: March 16 May 16.75: July 16.55; Sept. 15.44.

working in Venezuela for. various oil companies holding exploration and production concessions. COTTONSEED MEAL Memphis cottonseed meal closing prices: March 50.00-51.00: May 50.00-51 00; Julv 49.75-5O.50: Sept. 48.00-48.75; Oct 47.00-48.00: Dec 46.50-47.50. "the $64,000 question because I do Rabbi to Speak On Jewish History Rabbi David Lefkowitz Jr.

will snpak on "Jewish History How not know the answer. But he said operators were trying to find some EGGS High Low Close Jan 31 40 30.00 30.10-20 Sept 39.80 39.50 39 80 Oct 39.95 39.65 39.95 means to solve it and large companies and operators could do so, but the small oil producers are the ones who will face hardships and some mav be forced to shut down Shall We Teach It?" at 8 p.m. today in regular Sabbath services pil 1 their wells. A. D.

Mason introduced Bailey CHICAGO POTATOES CHICAGO. Jan. 23 (JP) tUSDAl Potatoes arrivals 78: on track 318: total U. S. shipments 652: Idaho russets 3.85-4 00: Idaho utility 3.15-3.25: bakers 4.65: Minnesota North Dakota Red River Valley Pontiacs 3.75-3.85.

James Reynolds of Camden, a member of the commission, also was a guest of the Lions Club. CHICAGO POVLTRT CHICAGO. Jan. 23 CP lUSDA) Live poultry steady; yesterday's receipts were 183.000 lbs: wholesale buying prices unchanged; old roosters 13-14: light liens 12-13. heavy hens 15-16.

Leader to Inspect Coast Guard Unit DECLARE DIVIDEND FT. MADISON, Jan. 23 (INS) Rear Adm. J. A.

Kerrins, Coast Guard commandant in the 8th TRUE GOODNESS in whisky is like character in a man. It's there for the world to see. In Early Times this goodness is remarkable. It's so good, Kentuckians themselves choose it over all other straight whiskies. So good, millions of people in the U.

S. A. have made it their personal whisky. Judge for yourself the quality and good taste of EARLY TIMES. EVERY OUNCE A MAN'S WHISKY of B'nai Zion Congregation, 175 Southfield Rd.

Services at 11 a.m. tomorrow will be highlighted by selections of the Junior Choir and a story-ser-monette by Rabbi Lefkowitz. The B'nai Zion Temple Youth Group will sponsor its annual fund-raising carnival at the Temple from 2 to 6 p.rg. Sunday. Featured will be rides, games, merry-go-round, cake-walk, and other entertainment.

The eighth in a series of lectures will be given by Rabbi Lefkowitz at 8 p.m. Monday on "The Golden Age of Judaism In Spain." Reservations are now being accepted for the annual congregational meeting and banquet scheduled at 6:30 p.m. Feb. 3. In addition to annual reports, Dr.

Philip D. Bookstaber of Harrisburg, will speak on "As a Layman Speaketh." WASHINGTON, Jan. 23 un The Census Bureau said today running bales of cotton were ginned prior to Jan. 16. Texas ginned 3,540,937 bales, compared to 3,547,314 last year.

At this time last year the nation had ginned 13,087,860 bales. Directors of the W. A. Sheaffer Naval District Hdqs. at New Or leans, will inspect the newly or Pen Co.

today declared a regular fourth-quarter dividend of 15 cents a share on class A stock and 15 ganized Coast Guard reserve unit here March 19. cents a share on its class stock, The admiral also will address an MM tWf payable Feb. 25. American Legion meeting here at 7:30 p.m. the following night, the armed services committee of the Shreveport Chamber of Commerce General Motors-Holder's Ginnings by states this year and last included: Arkansas 920,065 and California 1,516.144 and Louisiana 342,769 and Mississippi 1,034,483 and New Mexico 217,321 and and Oklahoma 256,100 and 28.162.

which began making the first all said. Australian car in Adelaide, nine years ago, now turns ouV.up to Neckley Ferris is commander of i. t. o. eo.

KENTUCKY STRAIGHT3B0URB0N WHISKY86 PROOF EARLY TIMES DISTILLERY CO. LOUISVILLE 1 'KENTUCKY the local Coast Guard reserve unit. 440 cars a day..