The morning call., 1894-04-12
NOT WORRIED OVER PRICES.
His Is Not Deal, He Says, but
an Investment.
WHY he WENT TO PORT COSTA.
He Marked His Grain i'm the Ware
houses, but Was Not Alarmed
at the Quantity.

"Bosh! was the comment with which
| l.. w. McGlaufiin met the argument that
| the tumble in wheat would affect his deal.
~ ou can say that it is all bosh." he re-
| peated. "1n the first place l am not in
any wheat deal. l am not trying to cor
| ner the market. [ am buying wheat just
as might buy real estate. because | be-
| lieve it is good investment.
! Now l do not see why the public
| should concern itself whether l make
money or lose money by my investment.
pay for what buy, but can say right
here that not going to lose any money"
| A report circulated yesterday that Nc
| Glauflin, as a result of his recent visit to
| Post Costa. had ceased to buy wheat and
| the deal which be has engineered would
fail. 1t was stated that when he went up
to mark his wheat in the warehouses at
Port Costa he found so much more
on storage there than he had anticipated
that he threw up his hands.
This report Mr.. McGlauf1in stated yes
terday afternoon was without significance
or foundation. He had been to Port Costa
to mark his wheat. That was all there
was of truth to the report. II shall con-
tinue to buy wheat" said he. ''and shall
II is believed that Fair is backing Nc
Glsuflin in his investments in wheat. A
continuance of dry weather would prove
of great help to the bulls. One authority
on Change declared yesterday that dry
weather for the next two weeks would be
the only salvation for the men in the
wheat deal, and that were rains to come
shortly McGlauflin and his hackers would
hot mil
out that McGlaufin was short on Decsm-
ber wheat. that he was doing next to moth
ing with May wheat, and that with the ex-
ception of on Tuesday he had in the last
three days made scarcely any purchases
of spot "Re has TO pay out $500 on his
contracts against $500 on the part Of the
others, so you can judge that the 500 diff
ference works seriously to his disadvan-
tage" was the explanation offered by one
authority.
''rhis morning they bought spot sea-
sons storage paid for 81 05.' said one of
the prominent merchants on Change. yes
terday. During the day no May wheat
was bought at all. consequently May
dropped from 81 10 to 81 OS. Later in the
day spot wheat. season storage paid. was
offered at 81 05 and there were no takers.
LAS there are no purchasers the actual
wheat for shipping purposes goes lower.
OF course there NAV follow little advance.
on account OF the dry weather. 1t may be
that the men in the wheat deal have con-
cluded that they can get what wheat they
want at lower figure, and so have ceased
buying for the present.
''If they want TO keep up the price they
must buy all the wheat in the State. Why,
they have been buying at the extreme
| figure nobody knows. They may have de-
| cided TO let the market drop in order to
buy now at cheaper figure"
| 1t is stated that the warehouses along the
| Straits of Carquinez are we'll filled with
| wheat and that the actual grain can be de-
livered to purchasers
| Bright clear weather yesterday caused
the barley market to about recover what it
lost the day before.