New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-22

va tnt Company were the people who sold wheat
"A the Letter Clique. Armours shortage was only
guessed at until the great shipments on wneat
from Duluth by vessel and rail showed. In the
s.rsstionsl,y large increase, the contract stocks
IN store The amount sad to have been brought
hsre IN nearly 100000 bushels. and that Is re-
col d.d as the amount of Armour's shortage. The
other shorts ala the came thing that Mr. Armour
has accomplished. although not upon 50 large a
scale.
Before Mr Armour sent out his people to bring
in wheat Sufficient TO satisfy his contracts for de-
lvery n, was face to face with a tough problem.
Had he been unable TO secure the wheat which he
il now credited with having brought here he
would have been compelled 10 pay to Letter the
difference between the price at which he sold the
wheat to Letter and the market price on the day
Of delivery Inasmuch as Nj French Of the
Letter crowd insists that the December wheat In
the cliouss hands did not cost on an average.
more than 80 cents bushel and assuming that
the market price would be 81 bushel on the final
day OF the month when 1t Is necessary for Armour
10 deliver what he sold 10 Letter. he would have
been compelled TO pay the latter 10 cents on every
bushel he could not actually deliver. The rules OF
the Board are ironclad on this subject, ard there
View that Armour has secured fully much
cash wheat as he sod for delivery this month ,seTe
bringing the wheat TO this ey whcn IL vas scar
strength carve in. That Rubicon "as been safely
crossed by Armour At what sacrifice ne saVed ne
costs are mostly represented in freight charges,
private settlements for GalRoeS af'a1y Snai h
of wheat which were not designed for shipmeni to
his civ The remainder of the shorts who sold TO
Treneh Are is sconGety preSc,cd ha h Clique
will get all the wheat which II noush1: , Vod
the side of the market Il is n9t khow' ~ o
outside trade and the general behct u Una ~ ar
bought cash wheat for Armour {" Oo'' H''' "'N
Todays market hard one for the ora" fa.
pit trader sSns were Ths D 0t en- clique bought
good deal of wheat openly ana piI 30 "eDn}lven the
good deal under cover 1t was .o hetWcem 9.9 and
Nay and cloSed at e3l, cents. The Dccembsr nopt
between 81 OIL and ss and coSe 6v az an Increase
for the week Of l54oe" an increase OF looks as
100000 bushels in The I last ~ tW Fe end OF the month
would certainly be 100000 bushels; dIa enS hush
further large deliveries t9,oay' nahcs and Armour
es els, SS ,p bushels Everybody concedes tiiat g
Letters have unlimited money, ana ~ w Nat score
'i Shs we're the disappointing feature LIS we're
Liverpool not showing any Tai.y here were so
roderstH ' 100 estimated for Wcdnesday The ore
Was an abrupt falling off In the On" 'pfetends to
cars Against G e. IAN tn Letters say nat tnfy
nxDrct 10 ship their wheat out aho a, have said
bearing in mind that tr %Na They are buying May
now II they should move ont t.e oCd ts II
share Of i the May w WON d be as much factor
a%te1 The last OF the month as uelo,0 ycre e2s.c;
On the curb puts on May "He"'
calls" $3.50
TIL. big deal In wheat in chicago Dy soaree
"Ioe, Letter was reflected In only siha' e.
IN the New-York market on the = Tho low
.h.nsa December wheat touched 81 w. -
n,nn a. M. which was also tho last pIIlce hTgs
cs,t a5oye Mondays q sing price, ,b losing
price Tor May wheat WAS SIH Se'1 loss OF y. cents
Pm Wonday.