Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1888-09-29
Shorts Waxing roth
Wheat Continues to Rise in the
Chicago Market,
AND YET OLD HUTCH IS UNHAPPY

For the Men Who Are Squeezed Rage
with Great yehemence rs the screws
Tighten, While the Chief rwister sings
I'm the Cool September Morn"-His
Profits Asserted to Have Reached 80
500 ooO-Dun's Market ReNiew-busi-
ness Notes.
CHICAGO, Sept. 2o-Wheat went up to
sl50 bushel yesterday. and "old hntch |
was practically the autocrat OF the board Oh |
trade He dictated the price OF the cereal |
for September and obedient TO his Will 1t |
made a phenomenal leap of y cents within |
con,paratively few minutes. He owned the !
corner. There was no one To dispute his
claim. To a number of friends who stood
around @Old Hutch announced himself as
follows: "They accuse me of running cor
ner, and some parties who have sold wheat to
me for delivery this month, and who can't
turn over the goods say they won't settle at
$3.50. They wouldn't settle Thursday at
81 p, and because the price has advanced
Is cents on them they are still more deter
mined not to come to terms. Well, I've
given them fair chance to do so. There is
but one more DAY left, and the price will
then be 81 Others had the same privilege of
buying September wheat that had. 1t was
free to every body, and if they did not avail
themselves Of the opportunity it is
not my fault. | bought the wheat.
paid my money for it, and | know of
no law compelling me to sell it until get
ready and at such a price as suits me. The
same opportunity will exist to make money
in December and other options that has been
in September. | am buying futures because
,Iieve they are very cheap. Others can
| do as am doing if they like, but by and by,
| when every option traded in on the floor has
crossed $50, it will not be said that the
| price has been put up by me or any specu-
| lative ring 1t will go up on a natural de-
| mand | believe wheat TO be the cheapest
| property for man to buy, and that it will
! pay him bigger profit than anything else
he can put his money into.
The idea began TO gain ground that the
| old man in whose power it was to fix the
price at any point he chose had determined
to settle with the shorts at 81 40 Some one
| called him I'D old hog" I'D old hog,
| hey! Well, guess wheats worth 10 c uts
| bushel more for that. Did old hogl Did
old hog" Then the old man whispered
| something to Johnnie Brine. and. muttering
| TO himself, walked down to look at the
weather. He kept it up during the day, and
whenever he thought of how he had been
called a I'D cid hog he walked across the
way and bought corn-in the extract.
After each visit across the way ne would
} return murmurinE: Clear in the cool Sep
tsmber morn, - and in whisper ask Johnnie
Brine how things were looking At one time
a broker approached and offered Sl.75 for
September wheat The bid was made jok-
ingly, and the old man answered: Clear
in the cool September morn That's " hit
tier, Johnnie-'Barbara Fritchie' Whittier
had the meadows rich with corn He didn't
say anything about wheat, Johnnie. Now
you run over and don't you let EN- pay a
id cent more tnan s 80 for wheat You
see, those eight car load bought for s. 49ls
fix it up for those fellers that want to squeal
: l amt a-gon to pay no more than that,
Johnnie, so don't you let 'em pay no more "
The uncovered shorts are sulky They are
so mad that they go down into the delivery.
! rooms and swear at themselves. On Thurs
day they undertook to bear their losses ir
silence, but yesterday they said hard word.
about the silent old man, who sat in his chair
I and seemed the most unconcerned man in
the room. If the master of the situation re-
Z fuses to retreat from the position he ha!
taken there is going to be fight, and arbi
tration or an appeal to the courts will fol
{ low. They are willing TO settle for $ p, bu
i, announce that demand for more Will caus'
trouble.
Every effort is being made to get contrac
S wheat into Chicago to-day Two hundret
e cars containing 100, 000 bushels are on tn
way. but il is not probable that Hutchinson
= will have to buy this to protect his corner
e but will have it turned over to him on con
tracts made when the price was in the neigh
borhood Of 90 cents bushel Eight cars o
wheat came in yesterday which was shippe,
two weeks ago, but which had been side
g tracked. Hutchinson paid 81 49H bushe
for it and stood ready to buy any amour
that came in.
Certainly he has been fortunate enough i
I L;- anil n-NFik far asfi