The Bottineau pioneer. (Bottineau, N.D.) 1885-1895, 1888-10-11
IAs CAissss Nhsas Cssasr.

At the close OF the session Of the ChicAeG
board Of trade ON Saturday, Sent. 28, two.
dollars was paid for September wheat, and
the great Hutchinson corner Terminated nc
sording to the advertised programme. Inn
mediately afterthe bell tappeda at lis o'clock,
wheat which the cash optlon was offered at
e1.O2h. A shrinkage Of 071xc In lesa than q
= minute, which il practically what occurred,
y something calculated to dose the Oldest In
habitant. The price was put mp q dollar a
bushel In three days. Such q rapid advance
has never been seen on tho board Of trade,
and In some respects 1t IL the most re-
markable corner that has ever been
run. The September option really cOrnered
itself. Hutchinson says that when he began
buying he never thought Of getting better
than $1.1O for it, but when he discovered
thsrs E ssT e ths .o senfr,sy h q S Ser;ass y wheat he1d
On to his purchases. He was D liberal seller
Of September during the month. showing no
disposition to take advantage Of anybody,
and this circumstances, in connection with the
Iact that he was never known to run o cor
aer, made the shorts comparatively Indifferent.
They did not realize their danger. Finally
whom the old gentlemen decided that the
wheat was really worth 41.25 OF more
M an investment, and declined to sell
as he had been doing oil along, O panic
seized the shorts. Even then it is probably
that the price would never have gone above
1.25, but for the vituperation with which
Hutchinson was so fcrcely assailed. He
was suspended from the board last year for
Irregular trading. Though restored to all
his former privileges before the period of his
suspension expired. he kept away from the
board and did not again appear on change
until after his son had been elected it's presi-
dent. Hutchinson seldom said anything to
indicate that he took his punishment much
to heart, but his intimate friends says that
the old man was badly broken up In his feel
ings, no doubt nourished the intention
of getting even with those whom he believed
chiefly responsible for his disgrace. This
feeling was still ranking in his bosom when
the bitter attacks were made on him by
September shorts. He is naturally kind
above the financial waves that threatened to
engulf him, but he is quick to feel an insult,
and as %revengeful as an Indian when he feels
that he has been unjCstly attacked. His
anger was aroused by the sneers flung at him,
and after determining that the shorts should
take their medicine there was no changing
his purpose. On Thursday he said he would
not take it then would have to pay $3.50 on
Friday. This proved true, and there was no
deviation from his terms. Near the close OF
Fridays session he announced % as the
settling price for Saturday. Very many
thought he would change his mind at thelast
hour and deal more gently with the obdurate
shorts, but so far as can be learned he stuck
strictly to his programme. He bought 1000
bushels at $1.45, but sold none less than 81. 1t
Is said q considerablenumber ofthe depositors
OF the Corn Exchange bank threatened to
withdraw their account if he insisted, on his
pound of flesh, but although he thinks o
great deal OF his bank and the son who is
president OF it, there was no yielding on his
part. He carried his corner sternly through
to the bitter end.