, 1881-08-25
GKAIN-SPECULATION.
Fortunes Made and Fortunes Lost
in Wheat and Corn in
a Woek.
Origin Of Tho Ureat Dull Movement
Big Operators Interviewed.
Opinions Of u. o. Armour, Rufus
Hatch, mud othors.

Tic extent Of tho regcnt grnin speculation |
may 10 inferred frnm the fact t'lat l,,tf,ls |
Intel, Is known To llnve carried ut nne time
i,Su0, 900 bushels nf cnrn: n prominent dawn |
town merchant, WIN prefers tn keoi' his nn,ne |
o,,t OF print, hul o00 900 bushels, t,snrs tlnn
tl,a entire supply IN stnre ut EllcugO; aiAt |
Mr.. Keenr, ills sai,, lIel .NO, 100, purchased
nj u CENTS md sold ut l,rot nf $.so,0oo. ac-
eDrtllitg 10 r,llM0r. The Arlnu,trs, Of New
York md Cntcngo, l,eltt even Ii0r,:, h.ld Are
credited with having Mnte EaiNlsni'se fort.
uNe. .\tnUng thu "sllortsn ~ wlla lnve last
urge amounts Of money prominent ier-
INN bnnkcr Is spoken NJ. WIN. for lliliisrff
urh his customers, l,ns tlroppGl SsD0,Dl
The l0ss among small operators WIN Ind
s0!.i tho ,nnrket short have been very large
tit tic aggregate.
iSrEltEsTISti OPINIONS.
below will be found Tho opinions Of sn,lu
nj the heavy Dpurnlurs 1n Eratn. 1t will lN
secl, TINT thUy nHrGa III the ihn1ll ~ tn tic
CAUSE uf the great bull ,nUye,ielit,-slo
cr0vs-bltt differ ns tU tho future vi tlln ,,Ets-
kct. II Is To be regretted tlut the views Of
Atr. james Il. Keeue, who IL largely inter-
cstetl In tho prt,tl,,ca markets, colI,l not b.
hail. owing 10 his nbsencc in e;ewp"rt.
VII. AttatOUR rt,l:iiCr$ HUBER rrlrEs.
Mr. II. y. Armour, nf Armour, flankin-
toll Il CO.. DrOAl street, II irll1:r or tic hill
ciunc, scesltetl to he reluctant to sive his
views, anil said: avs utn packers Of purll
alMl beef, un1 don't think WE kiIow SD very
much nl,0nt grat1I."
"Jsut yDur house IL rcportet 10 figure
largely In tho grain speculation p"
swell, buy things wlp1l consider then.
cheap. ,Nl scll tlle.,, wl,elt rcgtttl tle.l rs
higi,-tl,tlt'a true"
"Iluw atont the eurncr III wt.ent:."
"1'hore Is none. It's all NONSENSE"
mot II c0rllcr tn August wIeut whcil Its
price Is 50 flucll higher than tint Ut Seutcn-
Gern"
mo, thcrc's no corner. u great many pc,-
pie have sull 1t short ntMl lilo Sc:lsDn il blcl:
ward. ~ thMt 1t cannot bt tcEyrretl very fast,
but you will tintt tint ns Tho month Et,es IN
the price wlal soli, tt.l lust itself II Its proper
leyel. only waltti!l people hay" ctsanea To
deliver the Ws'eat they hitve Sold,
ernls ai9M ~ ~ Kriu e ;s speculative outlook s''''
III nil II radical believer in much higher
pr1ees., think 'nfl provisions nrH bound 70
ba higher, ns they always are wien thero Is
"Antl do yoll tliImk tlsat will tnrn out to be
30 tlrnyy:n
"very r., large, indeed: Wly; T. ,Me &C., est,
rtss e syns e ill., !: I'll isy caKir i" slSsts"
IT, wheat nlnnc ut FROM =, 10 ~ per cr'lL.
which, Il Il. prtttuctI0u OF, l Miteyr, shout
476 o0u, COO VI i,MslgIs lust ysar, would unoant
to froin is5,ooo,ooo to 11.NE'.Uoo. Or nbout
e4uul to ullt entire export ut lust ytar.'
TIE sitl.ESKAtE: IN cu1tS.
"Iiow ms to tho sl,rinkagu In corn, Mr..
"Wall, II tho Government estimates are Mt
az TEt as' t the Ss. s1I cfn s'1I; y frS % o} !"
lnilltty to the country, mud no eIlitnr sitting
IN his chair and writing Ill editorial un thu
Wicked speculation knnws 1hythlng about IT..
demand a,!d s,ipp!y That there must hs II r'se
e,Hnal .,H y pronorlto'' to tho new condition Of
i; ,,5sss x'u do not look for further break
"Ul, thu speculation has leen enormous.
and there may bG yfuleilt tlMctuntl0lls UP md
dowM.-lo doubt there will he; When wo
bHy w noye taa Frai t fIS cteaEo q; 7" tas
"Wl,at will tho export demand be, In your
'"Hil i'ricss show that we have not muc], to
export even It tho denla,nl. should bo grent,
wliiel. don't believe y will be., -,
~. "Whnt s!!ect VII ts speculation have on
they will probably make it up BY the higher
prices they will receive f0r their pr0lucts.''
"E0ncuding cyen tic s1lrinkagu III crops,
AZ Ar!nM1uf' - nre not prices nbnos'h"lly h'sll
"N9t at nil. For tho past tivo years we
have Ind cnorlnous crops a'ld abllor!ialfy
low prices. Why, mn not a yery nlu man
and hive sod wheat ut ~ blisalel."
! THE PRICES OF GOOD PRODUCTS.
11as not tho ayosnge price 0f corn for the
past ttw yaars Deel, near ~ ,cel,ts . i?ltshel:"
That illAy hu, but we linse had sI,c-
cesslon OF tho mos. enormous craps..a per
feet gintnf corn. I remember the old fash
But then, rs told you buforc. ! a'n very
iiow high do You think food products
ii would not dare to tell yon. The longer
n lnaIl LIVES tho less le tu.ts llo knows, ind
this Is a gteHt country. a,ld = nl'l must
always be ready to modify hts l!'; yIews by my
bDntul u rlngB much itighur. Heniuintler
that wa arc the great suppllcrs OF cl!enp food
| tor the world. and ,y!el, ta1era y q sl!rlnkAgU
o o sRx id % II e srops Ss o{ ,!sisnt y Eatopeat 's
c0Mntry. When, OUR crDps fall. theM the
markets. Of the whole world show tho effects
t"'ii;hls l,us beon the groatest speculation in
hooiproasss na i roy ever Known IN '"'s country
"Not at all. The volume Of speculation
hRs grown will, the increase of ths country;
small compared to tlios1 Of aollIp yeArs ng''.
This sl,es..ila1ton III baby compared to so'ne
s.ls ,1Arou's PREDICTIONS.
"No, slr,' Alr, Rufus Hatch snlt: !" tho re-
astiiicial MEANS , Tils wheat sisal isay ,Havas
beef, brought about by manipulation to 4,
ccrsaln extent, but the rixa III corn was TUG
fttii sixbS1 s1s's' and which 'any make corn still
s'Io wllat do you refer =" was asked.