The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-06-09
THAT RISE In WHEAT
THERE WERE MILLIONS IN 1T
FOR SOME OF THE DEALERS.
IL Was n Very Wild Market and Several
Rich Men Came Out OF It r.a-
Richer Than Ever.

Chicago. June S-Although the frs
sales Of the wheat were at from Il "a
s OF a cent per bushel over the price
at the close yesterday. the opening was
| comparatively tame. The weather was
| still dry in the wheat area and wet In
the spring wheat section. The chief
items Of early news comprised the pub
lication Of the state crop reports. These
| reports were not quite so bad as the
| imaginations of some OF the specula-
! tors had pictured the conditions. and
| consequently their effect was bearish
rather than bullish.
Referring to the exciting experience
Of recent weeks. the Chicago corre-
spondent of the Buffalo Express saws:
The recent phenomenal rise in the
price OF wheat. probably the greatest
ever known in so short period, caused
immense sums Of money TO be lost and
won on the Chicago board of trade.
The general public, so often fleeced by
the glad cry, Wheat is going up were
very chary during the earlier days Of
the bulge this spring. when inside OF
three weeks May wheat rose fully 30
cents bushel. But as each succeed
ing day passed and the market con-
tinued to rise. the old fever was aroused
In them. and soon the general public
was TO be seen in its old and long-de-
serted haunts. around the board. and
it was the center of wild operations.
Among the men who made the
wheat market a business. rumor CEN
tered most largely around Phil ID. Ar
mour as the man who was making th.
greatest money out of the market while
the excitement was at its height. The
l.
consequence of the rise has been very
generally placed in the neighborhood
of S5.000.000. In addition John d.
Rockefeller. Armour and an unknown
in New York. were banded together
in a gigantic pool. The holdings OF
this pool were so great that at one
time they practically controlled all the
wheat in Chicago and their supplies Of
the cereal in store at other points was
enormous. The pool is said To have |
netted between 81. 900 and $4,000 |
OOO
Wv. T. Baker. now for the third time |
president Of the board Of trade. has /
probably been the most consistent and /
persistent bull in this market. Through
al the depression and discouragement
II the low market he held on to his
wheat. and when the rise came ne
-eaped his reward with a vengeance.
After recouping himself for his heavy
csses Of the last year and a half. Mr..
Baker Is said TO have cleared about
= 500 OOo.
John r. Lyon, who has engineered
o many corners in wheat. was in the
market through the greater part Of
ne rise. and is credited with a profit
way up In the hundreds Of thousands
he same may be said Of = 4. Kent
4 the gas trust. except that ne oper-
ted on lower scale. and some say h.
must have made S3.G0Q.1o0 The enor- |
nous profits for tho most part come !
rom those who have had an inning of
'yaral years standing and could prob !
bly, weu afford the drain. Probably |
le most conspicuous loser was r.. A
'ardr.lse, but he had a long swiu- |
!uce the excitement Quieted down he
as Med mortgages against some real |
state holding 70 secure loans"