River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1879-05-08

The Stock of No. !: Hhedt ia Store IN Mil
,rnuhee Found to Belong to TtoO Three
TRANSPORTATION as to the HTift Of the
Deal.
Milwaukee Special to Chicago Times.
Tie wheat market was steady and firm to-
day. The principal feature here is the enor-
nous quantity of May wheat that Angus
Smith and William Young &, Co. are getting
hold of. The estimates to-day place the
amount that Angus Smith has bought within
the past three days at no less than million
and a half bushels, and Young d Co. are
believed to hold very large quantity. They
have been buying May wheat mostly. OPP
orators here are very confident that Smith
and the Youngs are working with Keene,
Jesse Hoyt and Rufus Hatch. Ii is also
pretty certain that the same parties are buy
ing June largely, although their whole at
tention seems, on the surface, to be given to
the Nav deal. Receipts are large to-day and
aggregated So, 440 bushels. Shipments were
also large, amounting to 1864 bushels.
Stock in store, 2,426, coo bushels The Angus
Smith and William Young g. Co. purchases
are the sensation of the market, and operat-
ors generally don't seem to know what to
make of them, in the face of the large
quantity in store and the absence of shipping
orders.
Many operators unhesitatingly assert the
opinion that Smith, the Youugs, and Baker
& Co., of Chicago, have got the market.
Angus Smiths amount IS at least million
and half. The Youngs have covered tneir
operations so carefully that it IS impossible
to get at the amount they hold. Mr.. Alec
Med. Young was interviewed at the after
noon board by the Times reporter, with the
following result:
seThey say, Mr.. Young, that your firm,
Angus Smith and Baker 81 Co., of Chicago,
have cot the deal in your own hands; how is
it?''
"what do they place Angus Smith at?"
queried Mr.. Young.
'At million and half, mostly May.
We'll, wellr'
"How much have you got?'
"Don't know"
II shall report it at least at half millionH
Cant say how much we have got, but am
willing to acknowledge that it will be locked
up to keep, this afternoon"
The general theory is that the movement
here (by the way, predicted IN the Times
several weeks ago and even the names OF
the principal operators given IS part OF
the New York rings management, and that
they have at last got the market virtually I'M
der their control. The belief here IS that
Baker & Co., of Chicago, are the heaviest
operators in the present deal IN that city.
The deal is May deal with power to carry 1t
into June if desirable. Bets were made this
afternoon that the entire receipts of No.
at this market on the old crops to come IN
would not aggregate 100000 bushels. The
receipts here are almost entirely OF the low
er grades.
After the deliveries were all made it was a
comparatively easy matter to trace them,
and it soon became an assured fact that all
the No. had gave into the hands OF
William Young g. Co. and Angus Smith.
Mr.. Alec Med. Young was met by the TINES
reporter subsequent to the first interview,
ano vas accosted:
DWELL, Mr.. Young, suppose you can nov
inform me of the exact amount of No. IN
your possession, and can probably state the
amount in the hands Of Angus Smith.
Mr.. Young replied: II guess that together
we have got about all there is here We viii
90 and see how much No. 2 there is IN store.
Mr. Young and the reporter then went and
examined the reports and made out that
there was about 1880 600 bushels Of No. z
in store. and Mr.. Young remarked again:
eve have got about all there Is of II, re-
ferring 70 the amount held bs Mr.. Smith and
his own house.
Peter McGoech locked MP nearly half
million bushels several weeks ago, and It h
pretty positive that be holds all OF It yet; 50
that the No. wheat here may be aufhorita-
lively stated TO be all in the hands OF the
three firms named. There is great diversl- !.
ty Of opinion among operators az y Always |
the case, as to what the present deal VIII
amount TO. Some insist that the market y
eornered already, while others m /
sist that IL is not and cannot be, anu even /
claim that present prices cannot % mann |
tanned, and that the longer Smith and the
Youngs hold their wheat the more tney VIII !
lose. The holders. OF course, say that they
have taken the wheat because they nsaieTe6 /
It was good purchase and ons merely 1903
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