, 1879-03-09
Archie Fisher Deceived by a Bogus
Dispatch from New
York.
All the Wheat He Sold Friday
Bought Back Yesterday
Without Loss.
Everybody Happy Except the Little
Fellows Who We're
Froze Out.
CHICAGO.
y In END TO TIE RACKET.


deal Is finished, and the military command, AS
YOU were,n expresses the condition with moro
than tolcrable accuracy. The telegram which
raised tho scare proves to have been fraud.
Kccne rcpudiated the entire transaction.
Fisher bought back the grain he Ind sold: and
everybody is happy. No, not everybody. Many
small opcrators, who had chosen the "long"
side under the conviction that the steadily-ln-
creasinr foreign consumption would advance
the value Of No. spring to 81 about the Open
inr OF navigation, and Ind put up $4,000 or
sl5 600 as margins; found themselves thorough
IL. cleaned out Friday noon. Many country
men. who became panic-stricken at the course
OF events the same day, rushed IN
wildly and ordered their brokers here
to push things, under the belief that
tile bottom had fallen out.and the Day of Judg-
mcnt had arrived. They too were large losers.
Who made the moneys A few bears who had
been constantly selling against The market ever
since the consummation Of the Kecne purchase
at the beginning Of December Some OF them
managed to whipsaw the deal. They filled their
shorts at the decline, and Immediately turned
over to the bull side. These we're the lucky
ones, but their number was few.
During the forenoon q TRIBUNE reporter
dropped into the Office Of j. K. Fisher & CO.. TO
take look at the situation, SO far as tie chiel
actor was concerned. The scribe 1ouno MN
tilted up in chair near the window, 1ntently
nerusinr TIE TRIBUNE. Occasionally puff
Of curling smoke arose from the cigar
which he was carelessly smoking, ana
his face orce in while became Wrcatacu
with fceting smile, as something oa hullol-
ous nature attracted his attention. The reporter
watched him closely for several minutes, anu III
his actions could not discover anything tending
to indicate the slightest degree that ue M sIooo
on the verge Of making loss of from e1oooVo 70
He was as cool and co!iscten S na as e
had lust negotiated trade for 1,00o, 000 bushels
Of grain and his profit we're assured;
sThr rcnprtcr ut last stepped up and intlmated
that his }ead-pcucil was eager for the lray.
ave cot no news TO i1npart," said the genial
Archie. .,., IT,
what kcene says; is that dispatch bogus"
uReal]y now YOU must not ask me- FER
sonally would like very much to let you know
all about it. but it would not be fair to others
who are interested with me-" ~. oho,+
t'That's all right, OF course; oot VIVA aoon, y,
Keene's statement. Is it substantially trues"
'sTi1at's leading question
"Why, no, not at all"
nNoT, don't ask me any more questions.
There are other parties beside myself interested
=, thie matter. and really can't say anything
about it,"
On the early call the market was active and
considerably excited, with rather nervous 1eel-
inc, Opinions differed. Some thought that
lint lint Fisher would be obliged to buy back
ali the wheat he had sold. These looked around
Ior nointers. The brokers we're buying In q
small way, and none Of them gave the least m
dicatiop that they were under Archle.s oIue1s.
David Dows s. Co., Baker & Co., W. s. Linn,
John T. Lester, and others we're purchasing quito
freely, aud 1t was generally believed that tncy
were either filing shorts made at the n1Sner
range Ut two days ago; 'orWere 'buyiAE on hase. =.
ern md export orders. The market opened at
SIC, with the bulk OF the transactions at 93A@
94c. Once Archie made bis appearance II tne
nit. and, waving telegram in his hand, ol1ereo
:. & Mn} U00 bu ut Csc on bogus telegram" The
proposition was received with shouts oi laugh
ter. ip the midst OF which he disappeared.
TIE REGULAR SESSION OPENED VERY FIRM
a, o3e!c. aud under the influence Of more favor
able reports by cable the market steadily
sifTencd until tile ticker indicated that 95c had
been realized. 1t was observed that the same
parties who had purchased so LARGELY on the call
we're still filing up their Gards, ana taS,ng a,,E
was reached, when they seemed to lose al IN:
| terest in the deal, nnd refused to follow It any
| further. The bulls, finding that they could noi
force prices any higher, dropped their horns iol
te 1s being ana h;ob he thp 1argc
buyer5 again took hold, and the mar
| Ecf. once more rallied a fraction, closing
| very tirm at g416c. During the deal Archie
Fisher strolled leisurcly into the pit and inqulr'
| ed for few carloads Of giltredged receipts
| He was soon accommodated, and those whe
closely watched him failed to discern that be aac
| anv interest whatever in the noise ana bust1e
| going on in the option crowd. What ne wantet
With carload lots, gilt-cdged at that, was mys
| ,err They certainly had no connection with LUZ
| Kccnc deal, and he must nave received an oroe
fron n rnr1rtry miller.
throughout the entire regular session tht
| deal was just as much OF mystery as u Wa
| Inc day before. Many operbtors Implicit!
mined their faith to the story OF the bogus dls
| patch and Keene's denial, but all this Will.
they wondered what Fisher was doing; ne mus
nrotect himself, they reasoned, and why no
now? They looked over the field to dfscoVe
! what prominent brokers we're DONG; ou
that the Keene wheat had been honessl.
| dropped, and took no stock whatever IN tnt
| kecne denial, wondered why the throwing O
three millions OF wheat on the market 6 alo no
| break it down to at least W cents. lhe on
| reasonable explanation that suited on TINS cas-
was the fact that the shippers and exporters oe
| licyed the property to be cheap at the price
| r,.1;no. and purchased to fill orders which hat
| been wing here untitled for some time. ~
| There were others who stu aonercu 10 ~ !;
! etory that a local syndicate had been formed u
| conjunction with some prom1ncn. houses 4
New York, and that they had agreed to 6rea
the market, squeeze out the small longs" an !
then rush things for all they were WORTH: IL IL !
obvious that these parties took no stock "ha1
ever in kecnc, kecne's wheat, or heene'S te'e
About o'clock 1t became whispered, n asof
Of behino-thc- -door style, that Do"s O. 70. al;
Baker d. Co. had given UP Fisher Us Tue pr'ofS' .f,
pal in all their transactions OF the day: a. A. en'
news spread, the fellows who Knew II all all tl'
< thought SO all the time" became very ln
portant. They protested power OF onn'sc'ens n.n
that would have broken lf4e back OF ho!.a a.a =
soothsaycr. Hall an hour later it was repofre nt,
that Fisher had given up tue whole uea': F. !.
reuorter hastenen to his office, and, falling I
and him there, visited the Chicago C'no, Wne1 .,
be discovered the object Of his search qu!eel
Hiding behind the smoke OF Bonnclo clsa'
three for half dollar. W.
II understand the agony is over and that 20
are out Of the woods!" remarked the news
gathcrcr as he took the prof1ered hand
0.Yes; you bet it is.''
"We1l, tell me all about ft.''
| @On Friday morning l received halt-ras
message over the Atlantic d Pacific, slgne
| keene, ordering me to sell wheat"
..Let me see the te elcgram."'
Mr. Fisher went down into the recesses OF
capacious pocketbook and pulled out cruH
| nled telegraph blank printed III red ink, 0
which was inscribed the following:
| Er,r ynpE March 1-T r. FlsI<r r. To-. EH