River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1878-12-12

There is about 100000 bushels of No. .
spring in the elevator here, and / 100000
bushels in Milwaukee. The receipts are
ABOUT 100000 bushels per day. If Mr..
Keene and his friends contemplate running
a corner, they would be obliged to purchase
all the cash wheat that will arrive in this city
during the next two months, aud then 60
| long on Decembe options to the extent of
twenty or twenty-five millions. Such d
combination is not possible. The impression
generally prevailed, and it is doubtless the
true one, that Mr.. Keene and his friends re-
| gard wheat at the present price IS the cheap
est property in the market, and that the in
vestment will be productive of a large profit
at the opening of navigation next spring
This view is strengthened by the fact that
the combination borrowed in New York 3d.,
| 100000 for seven months at the rate of 5
per cent. Wheat was three-fourths and one
cent higher, but the volume of business was
comparatively light.
The nearest thing to an interview with
Mr.. Keene, who has profound dislike for
reporters and all their work, was talk with
Mr.. j. X. FISHER,
one of the brokers, after several Intellectual
attempts to get the ear of the principal.
Mr.. Fisher was at his office, ard the re-
porter applied to him for intelligence as to
where and when, if such thing were in the
range of possibilities, Mr.. Keene might be
seen for a brief chat.
"That will be impossible, can assure
you,' was the reply. "Mr. Keene has said
he will not be interviewed by any of the re-
porters, and it will be perfectly useless to at
tempt to see him.
"Can you tell me, Mr.. Fisher, anything in
reference to his visit here at this time, his re-
ported heavy purchases, and whether the
scheme is one in the interest of an alleged
corner, or simply a cool, legitimate, long
headed speculation, born of a faith in the
belief that wheat must go upF"
81 can tell yoa that it is no corner, or any
thing of the sort, as Mr.. Keene told the New
York reporters before he came away He
has simply bought large quantity of wheat,
through his brokers, because he believes that
wheat is going up, and that it will pay
''Do you know how large that amount is?'
''AIr. Keene keeps his own counsel, and
his brokers simply act under instructions"
''But you, of course, know how much
you have bought for him, as one of his
brokers?''
81 do, but it wouldn't be proper for me to
say"
''You think it would be entirely useless for
me to attempt to see him?"
81 do. He Is much annoyed at the pub
licity already given to his own private
business, and declares positively that he
viii not see one of you gentlemen of the
press
MAY it be permitted us to know" inquir
ed The reporter, determined to keep on the
right side of the proprieties which seem to
govern this business of wheat speculations,
''what foundation he has for the faith that
is in him in regard to this possible rise of
wheat?'
''As said before, Mr.. Keene keeps his
own counsel. In general l may say it is
thought there will be considerable export
business, and the wheat will accordingly be
in great demand"
Further than that Mr.. Fisher said not.
WHAT KEENE SAYS.
James r. Keene was seen personally later
in the day, and in reply to an inquiry dis !
claimed all intention of running a corner IN /
wheat. He has purchased about 100000 /
bushels of the grain, paying cash therefor, 1
which would require about 100000. He |
has paid from so to IS cents per bushal, and |
intends to store his grain and wait for better I
times. Hestated to the reporter that he had |
a certain amount of money TO invest, and /
accordingly bought wheat, thinking that to |
be better investment than the stock mar
ket. Mr.. Keene emphaticaliy denied that he
was interested in any special movement IN /
wheat and reiterated his former statement /
that he had invested his money in wheat be |
cause he thought it was safe, and intended |
to hold the grain until spring.