New-York tribune., 1895-01-30
THE PRICES FAR DOWN.
WHEAT AND COTTON SELLING AT "A
LOWER RATE EVEN THAN BEFORE.
FARMERS IN THE WEST AND PLANTERS IN THE
SOUTH UP IN ARMS AGAINST BEAR sPEcU-
LAToRs. WHO THEY THINK. HAVE
FORCED DOWN PRICES.

FORCED DOWN PRICES.
Within few days the prices Of wheat and cotton
i'm the great markets OF the country have falieh 10
figures lower than those which prevaileu
few weeks ago. For many months wheat ana COZ
ton have been at prices which did not cover 'he
cost OF production immense areas In this couh-
try Hence the feeling OF gloom and despondency
and almost despair which has existed among the
wheat growers of the West and the cotton-planers
of the South has been most serious. The further
sinking OF the quotations for wheat and cotton III
! the exchanges Of America and Europe has increased
the melancholy OF the unhappy farmers and pant
ers It has also intensified the hostility of the
farmers OF the West and the planters or the South
to speculation in futures in wheat and In cotton
and in other staple products Of the country. People
who have travelled recently in the West and In the
South agree that the farmers and the planters are
more bitterly opposed to speculation In staple prod
ucts than at any previous time No matter no"
mistaken they may be in their belief 1t Is certain
that the wheat-growers and cotton-rasers are ho"
firm and seadfast In the conviction that their trou-
bles to n considerable extent at least, are que u
the operations OF the spectators on the ENcha"se'
The farmers and planters have not faiiea 10 feau
In the newspapers In all parts or the country '"e
accounts which have been published from time 10
time about the operations of the great bear specu
lators in wheat In Chicago and the operations OF
the bear Spectators In cotton in Liverpool IN
New-York and IN other important cities OF the
world in which cotton Is bought and so.d on mar
GIN Intelligent and clear-sighted men VINO nave
talked freely this winter with the wheatrasers ana
the cotton-growers of the West and South say II
Is simply impossible TO induce these farmers and
planters to believe that the wheat speculation IN
Chicago and the cotton speculation In other cities
Is not seriously damaging and detrimental to their
interests The producers OF the crops OF this coun-
try are now thoroughly convinced that the opera
,Ions OF the men who speculate tend In the long run
10 force down the prices OF wheat and cotton anu
therefore to injure the producer to most lament
able extent. However they may be mistaken In
thinking they do IT is now certain that all
through the West and the South the stern ana
wrathful conclusion has been reached among farm
ers and planters that the speculation in futures
I'm wheat and In cotton ought to be stopped Inc
producers have read over and over again striking
and impressive articles In the various newspapers
describing the campaigns carried on by the great
bear operators to force down prices Of wheat and
cotton.
WORK OF BEAR OPERATORS.
The producers believe absolutely that these bear
operators in many cases have enormous resources
With wealth running up In the millions. ana that
they control OF Information In all parts or
the world. and stop at nothing in their enorts TO
reduce the values OF wheat and cotton and other
staples as the quotations are made on the Ex-
changes II is now known everywhere that II Is n
very common practice In the wheat pit at chicago.
on the Cotton Exchange In New-fork' ana on
other Exchanges for the operators for decline
10 20 hunting cunning for stop orders
This cunning for stop orders consists OF cam
palgn carried on oy a combination OF operators
and brokers FOR a fall In prices. These operators
and brokers' by all sorts OF trckery and devices.
force down prices TO an unnatural extent, win the
expectation and intention OF causing so much
alarm and so much panic hat the holders OF wheat
cotton and other staples will be compelled to drop
their holdings causing a lower level OF quotations.
ufttaian
in aii the Exchanges. These bear campaigns, the
tanners and planters say. are running the pro-
cucer- OF the country.
NIhe farmers and planters declare that the brokers
On the Exchanges rely very largely on commits
,lons for their livelihood This Is true. although
,bers ia a great army Of speculative brokers' Still
great numbers O, the members OF the Exchanges
expect 10 live sumptuously on the proceeds OF
their commissions They cannot get commissions
unless there are purchases and sales therefore, IL
is A common practice among brokers to do all they
can 20 force UP prices. or 10 put down prices, and
usually they are just ready TO put down prices
os 10 mt them up, In order to shake out, as they
say the spectators margins. and to force sales
and purchases. so that they may procure the com
missions on these sales and purchases The
farmers and planters who are so hostile TO specu-
lations In futures insist that the operators for
lower prices indulge In the most INSCRIPTIONS mis-
ronresentations and employ every sort OF scheme
to force down quotations Moreover. they say the
brokers are the active and energetic allies or Inc
operators for a decline. because II heavy declines
are brought about. speculation. for the ume al
least becomes active. many sales are made ana
tho brokers get their commissions. The testimony
comes from so many quarters that 1t must be con-
sldercd ndisputable and overwhelming that the
sentiment OF extreme and vehement enmty aga',s ho
.ueculation In futures In the Exchanges OF the
country has gained ground enormously IN me i Wys,
and SSatn ss. dohs o whea, and cotton during recent
months When the farmers can % raise , "nea, ni ony
at loss they sure to hold some people respon-
sble Tor their misor,unes Lheir present. dsPoS n,d
the specuators and brokers or the ENchahges
largely responsible for the extremely low prices
WHAT FARMERS AND PLANTERS WILL. DO.
These farmers and planters are therefore deter
mined TO wreak their vengeance on the spectators
rd brol by stopping speculation In wheat and cot
,or and other staples II they can do IT, Careful OBJ
servers OF the drift OF sentiment In the West and
South say that the Western and Southern people
r,u demand at an early day the passage OF a most
rigorous law preventing speculation in the great
s,sples OF the country in the Exchanges which
scattered all over the United States New-Y Yorkers
the Western and Southern producers this sub,
ect declare that nothing Will turn the farmers and
ns %'s n sey should % in
doing this, the operators who have worked SO ac-
farmer and the Southern planter by, forcing down
the prices OF wheat and cotton far below the figures
which natural conditions would bring about and
the brokers who in their. craze for commissions.
have assisted the great bear operators IN these
Campaigns for lower prices will then be alike m
yoiyed In the calamity and disaster which they
bring upon themselves by exciting much hos
tity In the West and in the South to their bear
operations.
Cotton experts In all parts OF the country now
generally expect that higher prices Will prevail I'm
few months at the farthest. because they believe
that heavy reduction OF cotton acreage In the
South this year Is absolutely certain. Planters all
over over the Southern States are entering into com
binatIon to reduce cotton acreage. Some sceptics
say that the combinations and pledges to reduce
acreage will not be kept that great many plant
ers will prove faithless to these agreements. and
will plant many acres as possible with cotton
in order to get the advantage OF the higher prices
which are looked for later. But the shrewdest and
NJ A AY@ ~