Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-03-11
|6ssvkstoS on ras xAx, las CIR,
soAso on TRADE,
NIL HELP THE LOCAL MARKET
n ~ MAkE 1T TuE GRE.rc>r,>
THE WORLD.
] ooAQaes "t "."Oo.OOO Ru.h-l. Of Hard
N paer Whcs, Reported yc.,cr-
Gsa-N~".as City Already
GrcascHs Cash Market
,f for This Grade.

I'd Tho members OF the Kansas City board Of
ZDo1e arc working Ia make this the great
- speculative market IN the world FOR
] soned winter wheat Il is already the great
- cash market FOR This sor; of wheat. the
4DDo0uct of the great Southwest. and the
zNe should 30 together. 80 the grain men
ny.
81 FOR several weeks missionary work along
I1n1D line has been in progress. but II was
rol unau Thursday that the market began
- show any RESULTS. On that day the OPP
FlEatious In futures amounted TO about
mSO bushels. Yesterday the movement
Iran In earnest and The pit resembled the
sNheat pit in the Chicago board Of trade
-ot times. the noise and excitement being
sUoDtlar. When the market closed IL Was
eDond that about 2.0ap.oo bushels of futures
~ beeS sold. The outlook is that this
IA611Nty wiil continue and there will u.
Aitoiss daily so that the option market
b QuOted kansas City every day as
= .. fhe ..arsenarket.
2 seslinst thsfain options Is carried on
leon thsh markets Chicago. St.
a Psnir. s0rk always have , the
iSSsl. the the e' Kansas pass' ci,T I' ma-Srt n. I
deA9rth that kind here We're SO
ent th,.ft there was practically no
tive eraa market here at all.
nber Of years ago there was con-
le dealing in futures on this board
D. But at that time Kansas City was
parative!y small market ard the
almost entirely died ont. The
Dss Of the market was one reason
other was the uncertainty of rates
I'm out OF this city. The rates here
ade this city really sort of stop
lace for grain only and man in
futures here could never be certain
he freight out of Kansas CITY would
n. Now the rates out Of Kansas CITY
ablished and known just as well as
ut OF Chicago. So the growth of the
and the establishment OF stable
lave both worked in favor OF the
in futures being again made Il fea-
the local market. In addition the
Of trad. ., has hal, rssenily @ IN made s,S;In sGme e
lcy-for instance, allowing a delivery
lsst Of the delivery OF warehouse
instead or grain on track.
n men say the dealing In futures VIII
Ireat benefit TO the Kansas City mar
= many reasons. One Il the adxan- :.
,n, gives ,o. 10 oSassIs sns, 70 ~ H. hcssn nsa
y present time scarcely dealer ever
@ sells any grain here. or In any
y, for that matter, without immedi-
.e,ds ssosins s by mases asa .hf in
3, II he sells grain TO an exporter
he knows will take him certain
70 gather together, he buys an option
he same amount of grain in the month
hieh he expects to make the actual de-
This protects him 80 that however
krain may fiuctuate up or down, h.
n sure to he safe. He will not make
acy profit, but will make the Legitimate e
and carrying charges which the deal
IAnts. This practice makes II possible
ny more for the grain than would be
1ble did the dealer have to take all
own chances and is thus beneiit TO
10 option business continues on the
- 1T will enable the local dealers
R1e deals here at home. IL VIII
the eoInfry buyer to hedge In
nHay. making his business more
Eill increase the business Of this
md put II In the position TO which
ENTITLED as the largest hard winter
initial market I'm the world.
new activity in futures will necessi-
d, bonding Of local elevators. to
ouie receipt must come from n ware
with a sufficient bond behind T..
too, Will be TO the advantage of the
% City and Southwestern dealers in
With proper warehouse receipts FOR
stored in this city the dealer can
arly the full value I'm cash from a
This enables him 10 do business on
and In all probability TO secure 1t
Wer rate OF interest than has been
b under the old order OF things.
majority of the elevators in the city
loubtedly soon become bonded war;
John Kelley Is building an ele-
18th that end In view; Mr.. Seaver.
Union Pacific elevator, with ca-
10 the proper steps at once. and
reason 10 believe this will he true
all tho elevators OF the city and
Dther new ones In prospect.