The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1905-05-03

l RANKS. and the success er failure
4 Of the corner may depend on
l whether or not those banks wili
furnish the sinewa Of war after Il
Looks a. though tho deal Was set
/ ting near the danger point
There is usually trcachcry In a
/ hig deal snmew here before II -
ended. II there aFr two ar three
big interests In a deal At the start.
the chances are that some al them
will take advantage Of the others
and sell out a. time when the
greatest financial strength 81 all
| concerned Is needed. IL often hap
/ pens that powerful people 81 fight
Tag a speculative deal have greater
influence with the hauka. the iuaur-
ance companies. the elevator own
ers who have the storage capacity
At their command. than tho man
who Is running the corner.
The latest enormous wheat deal.
engineered By John ". Gates. DIFF
fsred from many others In this re-
I Epect. that there was no tine
I from the beginning "a the end Of
hia operations when there vas not
money enough and 20 spare for
every bady Who had orders to flii
Commission men and brokers had
only 10 say how much they wanted.
and Il waa ~ easily obtained IS
water This deal Elm tresh IN the
minds q the public did NOT reach
I the stage of acutrness In finances,
insurance or storage incidental 70
the handling 90 the cash property
II vas = eiear case OF a man find
fng that he waa facing 4 situation
which II was better to avoid than
20 try o. snrmouns.
Big KTnia deals or corners have
their origin In various conditions.
Nine times cat ~ ten the disturb
ance In prices starts With some In
I reference with the usual produe-
ton OF some leading erup
In wheat :, may be winter killing.
it may bs Insects. e may Be fioods.
IL may b. vet harvesta. Il may BE-
| ruinafinn q the quality of tie grain
after u f. harvested By weather
which viii not psrnit IL Being
thrashed and stored.
Dating froa 1904 the word rust
will be a significant cause % fear
and excitement In the wheat trad
Lax world Il was a moderate de-
gree oF winter killing over thu soft
/ winter wheat states AID the terri
/ bic blight % rust over the spring
wheat states 81 the northwest dur
/ INK 1904 which laid the foundation
/ Tor the excitement which has pre-
vailed IN the trade for months and
which caused fortunes 20 be made
and Loaf within the past week.
How does the public become In
volved IA the whirlpool q apeeuia-
toni HOW DO sHREwD BrSI-
NESS MEN AND BANKERS BE-
HCoME INTERESTED TO THE
DANGER POINT N FOLLOWING
fSUCH OPERATfONsf First. A
deal - always well advertised. The
bad weather. the crop shortage. the
unnatural conditions which canse
the disturbance in productlon all
these arc veil advertised 20 begin
with.
The public begins specializing ia
its Own mind a. 90 what tho effect
viii be Grain men In touch with
the farm On the one hand and the
big central market on the other
haad are the first 10 show a lively
interest
Seariy all grain handlers become
sperulaforH because II IL often
necessary for them 20 buy OF soil In
the open market for the future
against the cash property which
they are handling.
/ Grain buyers at every hamlet
/ over the country are IN close touch
I with the retired farmers. retired
merchants. men Of means. and their
I views on what - going on AZ tho
big speculative market are soon ac-
I cepted By those they associate with.
when the grain buyer. the retir-
ed farmer. and the merchant get in
terested enough "a 50 10 the local
bank and draw n few hundred dol
F. lars each 10 put up with some COM
mission house a. a margin on
grain. 10 - but one step further un-
( tfl the COUNTRY BANKER, SEE
IING HIS PATRONS MAKE
T MONEY BY USING THEIR
I MONEY, DECIDES THAT HE ID
I IN THE MONEY MAKING BUSi-
! NESS AND liz QUIETLY SLIPS
! AWAY TO THE CITY AND
{ MAKES HIS PLANS TO RE AS
SMART AZ THOSE ABOUT HIM.
( The clever county official. who
has a big salary and lots Of leisure.
I f. another who will soon find him
self opening an account prepared
TO make profits from speculation.
when a big grain deal n engineer
ed By a man Of millions. renowned
for his victories IN Wall street and
high finance. famous for hts bril-
[ liant moves In acquiring railroad
properties and building up n
/ fortune IN a day, the thing takes
on a glamour and a bfilllancy
which attracts some of the bright
est financial minds uf the country
From this bright picture and bright
prospect there Is too often the
I