The Republican. [volume] (Oakland, Md.) 1877-current, 1886-07-31
GRAIN SPECULATION.



change Are Conducted.
Business begins in the ''Pit' at 1856
a. m. Buyers and sellers are indis.
criminately blended in the compact,
throbbing, surging mass. All offers
and bids are on a unit basis of 5000
bushels. Winter wheat is the only
grain in mind. "rll give 4! T941
cents per bushel] for May wheat" i:
the bid of a nervous, active brok or,
emphasized by uplifted hand and NOV
ing fingers. I'm sell at B." is the
quick rejoinder of a ne!ghbor. 'I'u
give J." IN sell you at T." ] is the
only obstacle to a bargain. Long and
furiously, or short and sharply, the
conflict RACES around that /. The tug
of war on the part of the seller is tC
pull the buyer up !, and on the part Of
the buyer to pull the seller down /
The contest is quite as exciting a:
aught in the intercollegiate games
But seldom is the battle drawn
Victory. hcsitant in the vocal hurri
cane, decides for one of two parties
Bids and offers are usually regulated
by kilograms from Chicago. The diff
ference in prices between the two
marts should be the cost of transmits
sion from the latter to New York
Manipulation, or, in other words, gam
bling, at either point, deiies all criteri;
of value. A corner in Chicago may
raise wheat there above the norm II
price at New York; or q broken corner
in New York may depress wheat be-
low the healthful standard at Chicago
The facility with which sales ant
purchases for future delivery are made
has enormously augmented the volume
of trade Foreign merchants avail
themselves of it to provide for the pros
pective needs of different markets. Il
gives to the farmer ready home mar.
ket for his products at their full value
and affords to traders the opportunity
of selling at reasonable profit and al
moments notice and to deliver al
option within specified times, as may
be agreed. The exports of grain anC
grain products from the United State.
in the fiscal year 1885 were valued a
$3.50, 370,S2l Seventy-fve per cent
or more of the whole was probably
sold ten or twenty times over before il
was finally shipped. Sales and pur
chases. charter of ships, bills of ex
change for payment, sale of Lateral
contemplated future" delivery. Sim
liar remarks are true of oil, tobacco
cotton and other commercial staples
The system is device of necessity, tho
judjcious adaptation of prospective sup
ply to probable demand, the work Of
foreseeing prudence. 1t may be, ant
is, abused by gambling spectators, OF
prostituted to assist aggressive corner
conspirators and in all such instance,
is shamefully demoralizing. Rich0rt
WheGtiy, IN HGrper'S Margarine.
When the city angler, with a gilt
edged basket and twenty-five dollai
split bamboo rod, comes lack to the
country hotel at night weary and lame
and with no trophies of lis skill tC
exhibit and buys II big string of hand
some trout of Ia ragged, barefoot urchir
whose tackle is a crooked alder sticl
and two-cent cotton line, it may bt
set down as u clear case Of the boy
caught.-LOWeH Courier.
-
Elevators in certain New Yorl
buildings are to run from 450 TO 50(
feet minute. The latter figure is til,
present Chicago rate. Pittsburgh il
going to have one to beat the record a