The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-12-06
jim KEKYE.s nIG sTRIKE
EspressIna 81 800, 900 into Chicago 10 Get
Control Of the wheat Market.


Ftom Is. Ctic,y, rrr
Tho workings Of the Wheat Ring which
has boon In cxistoncc Tor some days. aud whose
doings have been noted from timo to tmo In
these columns. eliminated on yesterday in a
grand comp which took the Board Of Trade q
good deal by surprise and sent prices on their
travels up and down The scale in anything hut q
satisfactory manner 10 those on the wrong sido
VI tho deal
To 10 hack hulc and begin at the beginning.
il seems that for tho fortnight preceding ycstcr-
day it was an open secret that the Ring that was
making such a bold dash TO control the wheat
trade had cndcavOrcd to borrow from tho Chi
cago banks 81 500 900 with whicn to complete
thsir operations This scheme. however. ap-
parcnlly fcll through and things became 30
rrctcrnaturally quiet that tho boys" were
thrown completely OIL tho track. and camo TO
the conclusion that tho New York mon who had
the thing in hani had dcspaired u success aud
concluded To lay down and meet their losses
with as good grace ~ possible,
Yesterday. however, the first day Of tho bust
ions RT, rEo t,rcn on n o oensJ 'N MN
such very FREQ delivery. and the Ring brokers
nut down their cash so PROMPTLY FOR all the
grain taken. That surprise ut their actions Ia
paving for tho property delivered rapidly as
.umri panic PROPORTIONS and the great lue,ss,,
Jim keonc. the head Of tho combination, hood
wink US all SO completely p As time went by
tn" modus opcrand became known. and the
inetS that came to light took form something In
kornc. after concluding his unsuccessfu me-
dcrtakcn more as blind than ANYTHING else
raised the ~ 500 900 necessary to meet his con-
tracts hore did tho money M In one hugo hum
National Bank Of this city. lie timod his move
so that the cash should reach hero on the morn
ing OF tho day on which il was wanted and as
Eraplcd no advices to the consignees. So 1t
came about that Cashier Gago was astonshcd
him across the counter at an early hour on
Yesterday morning. and for u while he won
dcrcd what the event could moan. But at $50
A. VI a despatch arrived from kcenc explaining
matters and directing MIR. Gage to dispose OF
the money in such way as would best protect
representatives Of the firms Of J. X. Fisher 4
Co. Rumscy Brothers \ Co.. and Poole, Kent \
Co.. ascertainrd from them tho banks with
which they did business, and passed proper
tomato sums 10 their credit In payment Of
wheat deliveries, with the understanding that
the brokers and bankers should render an ac-
count 10 him prior TO to-days clearlngs us 10 the
number OF receipts taken in and the amounts
paid out
This point once settled, tho money began to
pour over the counter. and by 3 i. NJ. 81 800 900
had been distributed, and keene became tho
owner OF over two million bushels OF wheat
more than hall the amount now in store here.
Meanwhile 1t became known that the little
same time his money did. butthe train in which
he was steAming westward oyer the Pittsburgh
and Fort Wayne road lnissed some competition
delay OF twelve hours. As n consequence. tho
boys had the slim satisfaction OF Joking each
gone by grew so notorious IA the name OF Jim
Fisk's mistress. keene has stopped of to
call on Josie. they said and then there i?l-
lowed grand walk .around In honor OF the dis
covery. But fun Of this kind didn't alter tho
cold fact that. despite all accidents. the magnate
was bearing down upon the Garden City rs the
hpnH which
put s2O.Q0O.0OO In the corner II necessary. and
who had emphasized their determination 70
run things or break somebody in the attempt by
shunting in an odd million or so to start with.
Al o'clock last evening keene arrived. and
went at once TO the Grand Pacific Hotel. He was
accompanied 10y his wife daughter two sons,
and servants all these latter being en- route for
California. The entire party disappeared at
Parlor No. has double doors and one Of hem
swung back rather emphatically in response TO
the gentle rata tat on It's surface. II wasn't a
Notwithstanding Individual who opened IT,.
no looked weary and didn't wear very enthu-
thelcss 1t was tho same little man who came to
Now York from the Occident with car load OF
gold, and who in his two years connection with
the stock Exchange NJ Gotham has made and
lost rather far-szed pile. He wore his hair
now slightly tnecd with gray, cut close. and tho
that peculiarly grim oxps"ssion which some
tlmeS blossoms out into sardonic smile known
Mr. Keene.' the reporter began. suppose
there's a dray load or Whereabouts Of my cards
IN your room. and ventured to follow after
them and see II they had been properly be-
slowed"
No answer.
As regards the twenty millions you and your
friends Propose putting IN this pool. can you
give the Tunes any idea ~ the particular mode
you have chosen for skinning the boys And
could you further let the readers Of that paper
know whether or not II Is your ultimate intcn-
ton to go back home with all the receipts In
your trousers pocket. and keen putting on the
screws until YOU get control OF the entire spring
wheat movement for the crop year ?"
IN urod out responded still. small
voice. ~ I've no news 10 give I've been delayed
On my journey, md I'm going to bed. Per
haps. u feel Ike II, may have something 10
say in the morning"
The Reporter found an excited crowd talking
W tho situation in the lobby Of the Sherman
House.
Great Cod" declared one man. fittings
go to suit these fellows there'll b. HI and re-
peat inside Of a week. Why there's 5000. 900
bushols Of wheat been bought Tor December
and January delivery, and there's only half
that ID store with Jim keene the owner OF most
Of il Already.'
" What do you think Is tho Rings ultimate in
Thoy propose that their man shall go back
TO New York with a pocketfu OF receipts. and
from that as a starter they'll get control Of the
spring wheat movement aud sweep the board
clean clear up TO the LIST Of next July. It's u
big game and II the Ring really has $40 OOO. 900
TO WORK II. there's bound to be lively running
from the word go and more than one good
man Will have TO lay down"