River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1879-07-17


Mr.. Rufus Hatch who has cut quite a
prominent figure in the New York combina-
ton controlling the deal in spring wheat, ar
rived In the city Saturday evening. A re-
porter of the Tribune called on him at the
Palmer House to get some information from
him as to the future prospects of the deal, as
we'll as his opinions on the crop prospects at
home and abroad
In response to a question as to the stua-
ton Mr.. Hatch said: 81 don't keep Mr..
Keene's books, and the situation can be
stated in a few words. Mr.. Keene believed
that wheat was good property to have and
so he purchase large amount of it, intend
ing to hold it for higher, and what he deems
legitimate, prices"
Then there has been no corner as yet?'
Certainly not, in the ordinary sense of
the word The receipts had disappointed
everyone in their volume, and at one time it
seemed as if the press and all the people of
the country had turned bears upon their
own productions"
''Then this is to be viewed in the light of
straight deal?'
''Of course. Mr.. Keene is large specu-
lator and bought this property for rise,
IN which he expects to be gratitied. Thoss
IN Chicago who have assaulted him, and have
lost their occupation manipulators of til,
market, have none but themselves to blame
Then you think there Is no ground fo4
this complaint against Keene?"
"Why should there h.? It is difficnlt {.
see why dealers should sell the market down
and plumber the country producers. Still
they have done so, and succeeded in getting
rid of vast amount of their surplus, after
persis ent effort, at prices at least 20 per
cent. below is valae Mr.. Keene has certain
" tried to injure none by depreciating
the properly, and those who do,
and suffer in consequence, will
get but little sympathy in their howl against
Keene. He has tried to keep his wheat for
a legitimate price. and for this he has been
assalled by the press and dealers of Chicago.
He has made no complaint, however, and has
asked no favors of any, either banks or in
dividuals.'
"To come down to the main question, Mr..
Hatch, will the deal be kept up, or may We
look for break?"
''rhOse who sold short for June rave had
to fill their contracts at a loss, and those who
have done the same for July and August will
have the same experience. Make or break,
Mr.. Keene will carry his deal through to a.
legitimate result, asking no favors even if he
does not grant any. Is he to blame if he
purchases property on a reasonable and fair
speculation? If he has made a mistake he
will pay his losses without whining, as those
who are trying to thrive by bearing the mar
ket and deprecati1g other peoples property
have no right to blame others for their own
mis- axes
"On what does Mr.. Keene pin his hopes
for rise in No. spring wheat?"
Son the crop prospects. Europe wants
all the breadstuffs we can supply, and will
take them at much higher prices. Why
should we not have the benefit of it? The
reports from abroad generally show light
crops and an increased demand fully equal
to our capacity. The granaries are empty
here and in Europe All the grain is in
sight, and the whole crop, almost, has been
scraped together for the June deal. Spain,
France, Italy and Russia report much small
er crops than last year, and this country
must be the only source of supply"
''Ihen you believe that wheat will contin-
ne to advanced"
"Yes. The fact is that the combination |
control, and have controlled for months |
past, all and more than all the No. spring |
wheat in the market. 1t would have |
been the easiest thing in the world to have |
pinched all the shorts months ago. |
and would have done it too if !
had been running the deal. If you have /
any wheat, keep it. And, for that mat ter /
if You have any land, keep that too. The |
farmers will not always be bears on their /
own produce. 1t is really worth something |
and when they begin to realize this, and that |
it is all wanted for actual consumption, we /
will have better prices, healthier trade, and |
more general prosperity"
Ibid that bogus dispatch have any adverse /
effect on the new deal?'
ssWalI I should say ~ had EuroDa xVas
all ready to buy, but when that news first
went across the water as genuine it broke /
he market all TO pieces. Now we are Just
getting back to where we were before. Mr.. /
heene vas sorry that innocent dealers Tad /
suffered by this fraudulent use of his name,
out he doesn't believe, aud neither do /,
hat the guil parties made much out of it.
1t the moment, no doubt, they realized
but in the end they must have
lufTered''
'Have you had any idea as to the author
hip of the dispatch z"
.Why, of course we have. That dispatch
vas instigated of course in Chicago. We
vent to the telegraph office and saw the
handwriting, which correspondent with
pecimens of letters which had in my office.
We couldn't prosecute, however, for the tele-
yraph company refuses TO give up any dis
latcheS.
Mr.. Hatch left, with a small party, last
vening for Leadville where he goes to take
general view of the mining districts. He
5 a firm believer in the future prosperity of
hat district. and considers ii as certain that
'hicago is destined TO be the centre for all
restminiag interests of the section east of
he Rockies.
The prettiest new scarf wraps fer sum