Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-12-16
10 CORNER IN WHEAT.
., Armour will Pay Cash for His 4,ooo'-
900 Bushels.
WI, NOT SAY HOW MUCH HE WILL BUY
,he wheat WIN Get to the Con
amer at a Much Higher Price than
that Now Prevailing.

ch,cago. Dec. l6.-In an interview
nh Litter, who is at the head OF
I,,oor,ber wheat deal. said he ex-
.d To nay cash for all the wheat
,.,vered to him and to ship 1t out OF
chicago ox,o.. ;,
-, he said. in response to question
,o, Is getting little too exact
-. elevator people say that l will get
n ,he wheat | have bought. If / say
,,v much cash wheat expect to get,
,h.r everybody will know ms well as
Al about how much wheat 1 have
blsht
Il will keep that to myself. My plan
4, IA shin my property away. j did
,,at in the fall and it was successful.
,,n get a great deal cheaper storage
- at Bunalo or New York or at
s's,on than I can here. The lakes are
y,.sd but the grain can be sent all
wi about as cheap as 1t could have
Kan sent by lake and rail. Most of 1t
iii 20 out. That has been settled.
Farmer talk is ridiculous. There
mi any corner; "A corner has never
iDen contemplated; there won't be
n.y.
,sV much wheat will be loaded upon
F Liter and his associates.
there is an idea that Letter has
| 100000 bushels bought, and If these
ssures are realized there will be still
hH Of
leshels to help pay toward the cam
sign expenses Letter has unques-
,onably forced some settlements al
rady.
II is said Armour will deliver almost
100000 bushels and Seaverns & Weare
md the other elevator people viii
notably contribute 100000 bushels.
The delivery of the cash wheat on
he December contracts may end the
anpaign and 1t may not. Letter may
tIp his wheat, sell 1t, and take his
Fa or his profits, as 1t turns out. But
be shipment of so large "A line of wheat
vould be pretty certain to bull the
llauary and May features. and Letter
ray turn up as holder of those
r5ths. That is the play the pit ex-
l5cts in case the wheat stock is moved
itay.
Nf, Armour was asked as to his
rsws on the situation and dictated
pe following.
! think there is excellent value in
rheat l believe 1t will all be wanted
the end. Values at the moment here
q Chicago are perhaps a little flcti-
tlus, but 1t will all regulate itself in
tine The consumer undoubtedly win
lgy this wheat. and he will ultimately
ly it little higher than these pres
r at prices. | have no direct interest
= wheat. As warehouse man and
& rtrchant | am bringing wheat here
( Ntause this at the present time Is the
ashest market in the world, and /
AHe been able to bring wheat here at
t. margin offered from all these west
IN points. But | do not think there Is
great deal more to come. In fact.
% time is not very long to bring II
IN. There is a good deal in transit
iah Most of the wheat by vessel
Ls been received here. do not ex-
~ to see much more brought here
water But there is enough in
sahslt now and In process of being
seed to make good receipts practi-
lly 10 the end Of the month.
nave no doubt but the parties get
ag This wheat will market 1t to the
asuher at profit over present
Ns although they perhaps might
4 -N bought IL little cheaper than to
ave mad 1t brought here artiiicially."