The San Francisco call., 1897-08-24

w = 0VsVVV
Henry y. CrOcker. 100000
Maurice Casey 100000
Max Brooks. 100000
Harry Wise. 10000
Robert NIcCreary... $4,000
John Cross. 10000
This is but small partial list OF the
winners and the winnings that have de-
veloped locally out of the recent continu-
.ous rise in the price of wheat.
1t IS known that there are many others,
but the brokers who have been operating
for the lucky ones refuse in most cases to
divulge the names of their customers.
Many are men who are engaged in regular
mercantile pursuits. To have it known
that they are speculating in the wheat or
any other market would be likely to in
jure their credit.
All those mentioned as winners in the
preceding list have made :heir clean-ups-
that is, they have disposed of their hold
ings of wheat and pocketed their profits.
The one exception is George w. McNear.
He would stand to win the amount placed
opposite his name if he chose to sell at
the prevailing figures. He owns large
. stocks of spot wheat and choice collec-
tion of call board contracts calling for the
golden cereal at low prices.
Besides the scores who are known to
have cleared in excess OF $4,000 there are
many in this City and in inferior towns
who have made lucky turns that have
nstted them from $1,000 to $4,000.
Most of the winnings have come from
Chicago. A well-known broker stated
Yesterday that local commission men took
between $1,500,000 and $1,000, 600 out of
Chicago yesterday for their clients.
While there was considerable of a
slump or decrease IN the price of wheat
yesterday on the local and Eastern ex-
changes, no one was much surprised or
disconnected. 1t was the expected that
happened. A reaction from the continu-
ously ascending prices was looked for,
though no one was prepared to say just
when 1t would come.
1t is generally conceded that the break
in the boom came from the desire OF the
buyers TO realize and pocket their profits.
This movement started in Chicago, and
the weakening of the market here was in
sympathy with the turn there and was
not due to the reported New York COM
bination which has been made to bear
prices. This is evidenced by the fol-
lowing telegram received late yesterday
afternoon by Broker Bresse from Barrett,
Farnum & Co. of Chicago:
Both wheat and corn declined to-day
on realizing sales. Think both will go
higher"
The whole speculative market seems to
be affected by the movement of wheat
L.
orally are on the boom. As one broker
said yesterday, "Why, if you buy spool
of cotton to-day you can double your
money on it tomorrow" In fact there is
q wiId-eyed fear about all the operators
that something will get away from them,
and while they are ready to take advant-
age of every little turn in the market all
feel that another rise is sure to come as
soon as the present reaction has run it's
course.
The action of Russia in stopping the ex-
port of wheat was discounted to certain
extent, but not as fully as former expert
ence would permit, for when similar
action was taken by that nation before
wheat went much higher than the present
rise has taken it. 1t is noticeable in this
connection that the Liverpool market
steadily advanced to-day, opening higher
and stronger and closing at the top tch
The brokers whose customers have
made good winnings are Gerberding &
Co.. E. A. Bresse. Cutter & Moseley, Will
SouIe. Nj. Blum & Co. and j. E. de Ruyter.
1t is reported that Broker Bresse did a
business of 100000 bushels of grain
through Barrett, Farnum & Co., his Chi
cago brokers, yesterday, this being the
largest business of any one day ever done
from San Francisco on the Chicago Board
of Trade. Com mission-houses which are
short say it is entirely on account OF their
customers and they are fully protected.
There is also a heavy short interest in
harley. and should the sellers become
scared there is apt to be rapid rise in
that cereal also.
Henry Stelling, grain-dealer OF Davis
Vile Yolo County. who came to town
Yesterday to participate in local exchanges
for a week, said when seen at the Russ
House:
I'm DavisvilIe and vicinity probably not
more than 5000 tons of wheat were har-
vested this season. The barley crop fell
short one-third of last years. The farm-
ers about Davisville are holding on 10
their wheat two thirds to three-fourths OF
the crop being still held, and what has
been sold was generally disposed OF at
81 so to 81 So a Genital. Many of the farm
ers expect the price to advance 20 the "
mark.
4 LAS result of the high prices for wheat