, 1875-01-01
Il Was a Square Business Transs
action.
nIr. Wright Believes TINT There
Was n Corner.
He Admits tho Operators Havo 3D.
haved Generously.
The Possible Profits

md, as the engineers OF tho Rc!lonle lad bought
moro Of that grade Of corn than there was In tho
market, tho Hhurts woro ilat Oh their bacas. and
will haTo to sottle III thoy aettle at all At 10
cents. nn!ess tile Comn,itteo on Arbitration hxea
nnothcr basis. Tue man who furnished tho
money ie a Canadian, and his agents aro said to
be Low Bros. Co.. j. logan ~ Coz anu .. =.
ilooaor g Co., wno bought o ease corn anu ao,l,
ont,nnz 1t w. '''''' W - : -''0 - ' ~
oP''oN'' r,,r o,,,sr,rv pnnrr.srn
..,, .s.'.s e w. ~, 49, ,,en,,tor,,o,a ~ mn
VI oo''i "se'a'.'" ~ 49, t''' t's's ~. uon .
COO bushels, all Of which, except 24o.Ouo oushea'
I,as been delivered and paid for. The bulanco
canno. 10 delivered. sioce tho managers hold all
H. ~, N, y, I'm roor1sat an1 tho shorts ran
.no w ~. = H. .,.',ass 49,. 49,, a5 aorts
not procure q busncl ahiess taoy pay % cents,
thus losing tie difference between TINT price
and tho ono they sold for. Tho quotation has
increased from shout 70, Iu November,
t.. o. ~ Lite 1o;,,, t,o o,os;rr nr;co vostnr,
W oo' Wv ."'toA us'N,' NV .o.' -. 49, -.
uay. l1ooheF oHerea 10 bett!e q ua5 VI t"o oho
ut SO, but his proposition was not accepted.
THE LOSERS
h, H.. aoo, sro conern,1v nemn,, nen.n WIN
mn .,,1 IN nm 1,,.,,,,a thn IL, xo.+ ,oe.r
hoiu o'',' a1te Ae'ooo DAoAo''' '1e ~"''N9e "oO'
sold 25,000
It Ia understood that several OF the shorts
hold out and roflscd to buy from Hooker because
tta,, ,,ad tso,, nas,,ro1 ,v .vta. "a. ttonobt Ia
4+,nt rrJyf1
10 eo''poto1. 'cf"i "us""A's5' A' 'A'' s.
deliver now NO. corn on contracts ea'itng 1oF
regular, uucBB the word "old wag In tho co5l-
tract, Thcso tenders yofo refused, since the
II, +,o ,,-;ro bo+ rxoor o,d md ncw vqs
~ ,..'a,,H ~ - 1o,< s.,,ta Th,, a,rnr-
III THO heleAooFnooa oi IVA co1ts' 1n'S o'nol
onoo. however, il principally speculative Ihe
difference between old and new rejected corn
tha .Tork md thoae on tic
slnrt ciGn aav that thoro ie not
rnni,v !. difrcrcnc, Of n,otn t],on nbout cents q
husi,el Il, tho actual value of Uil Nc. and now
Nn 5or ~ cnnsnn,inp nurnosea ): md como Of
ti,cn sav thai tI,a ,sw. in fact, is bettor than
lie iii nnI th,t for any other than artificial
nm1,,nsca @ tho nnrtias to whooi tho corn is gon,
wonl1 In eouaily M vol satisfied with tho ono
as viii thn nthor.
.;ho nuostnn is n 1,nottv one, md will not un-
utaiv ~ ~ rrcntcr hnao fnr Iitenton tban tho
1 st,,r1cn dcai, m tho matter viii turn largely
unnn thn mint whether or not a party buying
nnnn tcrbrtcoI,tv mt oycu wor,lot1 in the cor.
tract ,.rara ti,o trcrsnra in nrice il no mnch
"raator ,hnn fin iiffo,once in yaiun.
e&o"''' NE. n2oxEn,
hear what be lad to say, and Io cheorfully mado
H. H., uinne'l -" atat torcnt "''A ~ ''
IN In ist If NoyomLor had aaDo. 400 OF for
c;,n cnnitaI nni ths ownar tnorraphcd mo to
,,id 10 and ho,,rht ,5o 0fyo busheiB Of CASH
corn and saiar knvon,har With nothing in view
NJ antirnat,nu cor,er and .io not think nv
,,r;,c;no1 Xii hjs mnncv was lpinr baro. nnll he
tinn Of Noyotnber va had alro lot oil sacr lilo
month. 1,hn I,oard Of DIrectors nut Mr, Ran
.iolpi Into tho baIcony, md he read tlat old No.
. corn vas worth G5 conts for marginal purposea
:ibot fsnroo,a,ca HT Tho ynI,a II, tha estimation
~ the trn5n hera: giving the shorts TO under
stand TINT thew would be lot ont at G5 ceuta, II
ws forcad tia prico beyond that, Wo let tho
market alone, and corn closed at nominal price.
In the foro mart OF December wo went in md
ditonal. aud wo carried that aud tho other
Ahomt t,yo ,yce.s nm TIM party vrotn III tn con-
tlnua buying seller tho year, and no bought
150. 600 b,sbels moro, tLs parties who sold be-
inyiup that the Board would let them of at
n lower prize. A. aoon as that was bought
no,v nnnlication was rnndn tn thu nirectprs
nud, on tno a7tt Or 2sth inst. alr. Randolph an
uotucod from the balcony tint tho Directors had
lad q nesting, and ilxed tic value for marginal
nurpoaea ut iii cents 1. would seem from that
t1,at inv had couc}uiotl thoy had mado mis-
Inko In fixing tho brico at 5 cet1ts. ThlB created
at ouca foefing that tho BoaEd vae going, to de-
eide With tho deAi, Buco thoy had r&Sed tho
| yalue in tho dead Of winter. II croS kd ont,
1,oweyer tint nt the time the G5 centA was
agreed upop. opo Of The Directors {Tom Wight
was 25o60 bushels short. Wo did not want to
| hnrt anybody. aud va went on and nut the prico
to 80 contB. thon to 81. and thou IS, and to-day
/ fThurslaYl to IS !; and we hold it there aa
| LEGITIMATE DEAL.
/ We bought 10000 cash ak 85 CENTS and gave q
ccrtidod check Tor It, Wo want TO lcarn who IL
st tamit Ire man who bmys md usye, taxing tho
CHANCES Of the result, or tho man who sells and
lafaulte under tho rntcs Of the Board7 We shall
mt dofault, but nav Tor ali tho properly wo
hont,lt.
Renorter-There Is some talk OF
| rESDEa1No You NEW conN,
| Mr.. Eooker-That cannot be done under tho
,1,les. We bought old No. 2.
| Retorter-Dn yt,u hold all of that grade OF
corn III lie market =?
| Mr. Huoker-Yas. and more too and the
sbnr,s viii hayo to buy Of ug in order to deliver
It Thia IN a nrod,icers' market, II foreign
cnnitaI comes hers and buys property for casL
| md takes the cilaucos. and the producer sends
nrnnarty l1are a.,ti ses it for wha. llo regards
fsir canh valne. that ia not corner, No ono
rnt, sav 10 havo RIM q corner. Tbs producer
sot1 the corn 10 us for deliyarv soljer tie yoar.
and he unst abido the result,
Hsnortcr-Whak is tho average price you patd
for tho corn
| rJ.