The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1858-11-06
4 NOVICE GRAIN SPECTATOR TELLS
HIS EXPERIENCE. -s5...s

The following graphically related cxperi-
ence of wheat speculator,we clip from the
Chicago Journal Of the Goth inst. Land
and wool, and Others of the specializing
family, If they would uncork their experi-
ence, would tell similar tale. But here is
our sucker speculator-
Generally speaking, Wheat is very good
grain. 1t shows we'll in the field and in the
statistical reports; it looks we'll in the stacks,
and especially we'll in granaries and well
in ground, methodically kneaded, judicious-
ly baked, and properly Drowned and buttered
into toast, there is no one who will speak
more respectfully, not to say enthusiastically
ly, of the vegetable than | will. For am,
in the main, man too well bred to do 9TH
erwise. But, as an article Of commerce, n
medium for speculation, am emphatically
down on the whole institution, both sWin-
ter. an" "Spring," the one has proven s'the
winter of my diseontent," while the other
has sprung a trap on me like that projected
over unwary birds which nibble at the same
bait. These remarks may seem severe, but
they drop as naturally from me as the kernels
would from head of wheat that has been
well thrashed.
As everybody knows, am sthe SON of
poor but respectable PARENTS started in
life with this talismanic maxim for money
making. Buy when every one is selling
sell when every one is buying. Well. some
few weeks since, wheat, winch had been very
huoyant, suddenly fell. Every one was SELL
ing. had little money, and confdins in
my golden rule pitched in,' and bought at
'elghty-fve.' Very soon the staple commo-
dity dropped to sixty eight. Now, thought
, ,e,th that IN ot -
gaging the first lot, bought more. And
I'll venture to say that my old mother never
prayed so devoted for her bread to rise, as
| did for my wheat. But still it dropped.
The fault, they said, was in the east-(ex-
cuse the pun, i the pun is obvious until,
as it still kept dropping, thought it my du-
ty to go into Chicago and put a stop to it.
The FIRST greeting that met me as stepped
into the fremont, was telegram on the
Bulletin board--"WIlEAT Is FLAT."-
Wheat was probably fat enough, but this
announcement struck me as being rather a
sharp truth. At half past eleven, / went
down on 'Change.' It's perhaps needless
to say that found things materially chang-
ed since had bought. Buyers were offer
| ing 'ffty- -fye;'' everybody appeared to be
buying, therefore, following out my aphor-
ism, | sold. The result may be summed
up thus: ~. .se ~ = ~z@
| Two months since, had money and no
wheat. Subsequently,, | had wheat and no
money. Noc, by the mass, have neither!
The second lot was poor lot--as poor, in
fact, as the second edition of Pharoah's
kline. since it swallowed the first. But /
bought to make a margin, and made it.
! For the past few days my friends have no.
ticed a remarkable echo in my vicinity
Whenever we chance to meet, some chap
| will llsay ga hem, wheat, J" and the reverbera-
ton comes back, deep and distinct, Damn
wheat' The echo may be profane, but it is
the expression of d very general sentiment.
For ] think that most operators will concur
with lin the following conclusions: ~.
That to buy, at seishty-6se' and sell at
fifty -fye,' will not pay, unless man does
a very large business. That wheat, when it
once begins to fall, is a devilish while reach
ing bottom. That when it once begins to-
/ heat, it very soon becomes too hot to hold
That after all, the surest way to make mon
ey. in wheat, is toplant it in = good soil
/ And, lastly, that man going into the wheat
market with even small capital. if he is
/ industrious and perseveres, may very soon
succeed in owing more than it is probable
i he will ever be worth. SANDY.