The morning call., 1894-04-06
WANT TO SETTLE.
Sellers of Wheat Talk
and Promise.
The Approach of May Causes Gen.
eral Feeling of Uneasiness
on Change.

California street. In the vicinity of the Prod
uce Exchange call board, has become a verit-
able gossips' row.
SO many stories are told there each day and
so many JUNIORS are set afloat that no ordinary
mortal can come anywhere near Keeping track
of all OF th-m.
The wheat deal is responsible for this cOndl-
ton of affairs. and the brokers who are IN.
terested in 1t are the men who DO all the talk
ing.
These men put some sort of wild yarn in
circulation almost every hour. and the nature
OF the story told depends altogether on the
position In the market occupied by the story
teller.
The men who have sold wheat to Louis Nc
Glaufiu which must be delivered on May are
just full of Information to the effec that when
the time 10 deliver comes McGautin VIII go
back on his contracts and are ever ready to
impart their knowledge to willing listeners.
Invariably, however. they fail to tell from
where their Information comes or on what
grounds II Is based. nor do they bring forth any
sound arguments In support of their opinions.
The buyers of May wheat. on the other hand,
are just loaded with Information OF an entirely
different sort, and he tendency OF which Is TO
prove the unreiisbiiity of the sellers yarns.
When May arrives McGlautiin VIII, shonld all
the wheat he purchased be rendered him, find
II necessary to put up about S2.000000; but
the question is, Can the sellers deliver the
goods?
The buyers and their friends believe that they
Cannot. and assert that contracts for no less
than 10000 tons of wheat az to-day uncOy-
cred.
II this be the case, then McGlaufn occupies
quite an envlable position, for no VIII be abIe
10 squeeze the men who are short Tor quite a
goodIy sum, and ii is IN this connection that
many stories are being tOd
The latest one has tendency to rrove how
charitable ana thoughtful wheat brokers can
be at times and has much 10 co with an en-
doc hat ma Oaolr m nav annA
help McGlaufiin out of tight place.
1.-THE truth is" said one of these kind-hearted
men, "that we know cGaufn Is In mighty
bad scrape and are quite wiling To help HIM
along. Now, when lie began 10 dabbls in May
wheat he did so lhouphtesSly and with no idea
OF doing auy extensive buying Then when the
bottom dropped out OF a. market he found
himself caught IN trap and was compelled 10
plunge with hone OF redeeming himself.
"In consequence OF this be must the first
of May nut up several million dollars in order
to meet his obligations or go 10 the wall, and
well, we don't want 10 see him GO una +, and
consequently should be ready 10 MAKE fair
deal with him. There Is hardly seller on
Change who is not wiling 10 give MEG auilln a
good discount CD condition that lie take the
wheat now. and an offer Of this kind means a
saving TO him of many thousand dollars"
Now were all tEis true aud Heio MeGiauhln
really in the Iusitiou 10 which some men pic
lure him, the offer made by the sellers would
indeed be generous one. but then there Is an
other SIDE 10 the story which puts an entirely
different phase on The matter, and seriously
Quesiions The motives which caused the offer 10
compromise.
AcGlaufiip declares that he is not bit
frightened. aud is not at all In need OF nelp.
On The contrary, be main aims that he Is per.
fecty satisfied with the condition OF affairs, and
that when May arrives he Will pay Tor every
pound OF wheat which IS delivered 10 him.
Ii IS not denied, however, that an oner 10
compromise was made. but II Is asserted that II
came from N who are "short" and who
begged that some lenieney be shown them ID
order 10 save them from ruin.