Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-05-26
MILLIONS IN WHEAT
Many Fortunes Made and Lost
in Last Few Days.
GREATEST CRAZE KNOWN
Entire Crops Sold and Re-Sold Many
Times Over.
THOUSANDS OF FARMERS GLAD
Some of the Lucky Spectators Wiz
Made Fortunes in the Windy
City. ,,ia.
OF FARMERS GLAD
Special Dispatch to The Star.

Special Dispatch to The Star.
CHICAGO, May 25.-Two hundred million
dollars is the stupendous amount of money
of the greatest crazes in wheat speculation
the country has ever known, according to
the estimates of conservative board of
trade men. Two million dollars is the
any one firm or individual-to Patten
brothers, whose campaigns in corn and
oats have made them multi-millionaires
and famous as daring plungers, and who
have been on the bull side in wheat Other
winnings range downward to the plunging
of the piker-and a good-sized percentage
of the total amount won is made up Of
these small bets, for not in many months
has the public been dealing in wheat so
extensively as in the last month.
New Rulers in the Pits. l
New rulers have appeared in the pits
who are sure to hold sway in the places of
those who have gone down and have been
counted out in the most colossal wave of
wheat speculation known in Chicago since
the days of Letter, Armour, Partridge and
Hutchinson.
So tremendous has been the fight among
the bulls and bears of the market that it is
estimated that the entire wheat crop of the
world has been sold and resold bought
and rebought a thousand times over on the
floor of the board of trade in the last three
weeks.
Nameless thousands of farmers who held
their last years wheat are rejoicing at
present prices. and most of them have I'M
loaded their holdings. Chicago naturally
has furnished large number of winners.
Two Big Winners.
Frank Frazier and w. H. Bartlett, part
ners in one of the largest grain houses in
the world, are reckoned among the most
fortunate winners. They bought at the
bottom and went clear to the top, occa-
sionally clearing out lines at handsome ad-
vahces. 1t Is estimated this house has
cleared at least 100000
A State street department store manager,
whose name will not be divulged by his
brokers, is heavy winner. 81 saw a check
sent to his office when his deals were wound
up which called for $4,000 said John
trader. Only occasionally does he take a
flyer. In previous deals he lost some
money. He said he believed it was his
time to win, and he sent over big check
to his brokers with Instructions to go the
limit" 49,.
A broker today asked "Jim" Rankin of
Pringle, Fitch & Rankin what he thought
happiness was. Green bugs" replied Ran
kin. 1t was when the first reports Of the
green bug damage in Texas, Oklahoma and
Kansas wheat fields were being spread that
Mr.. Rankin started to return home from a
trip in California. He stopped off in the
ton. Then he came home and bought all
the wheat he could get. Popular report Is
that he is $4,000 to the good.
A Picturesque Figure.
Joseph Linebarger, known as zoe Legs"
Linebarger. is a most picturesque figure in
the market. He has won 500, 600. Joe
Legs" won a fortune in st. Louis during
the Letter corner. Then he dropped it in a
bear market. and came to Chicago, where
he embarked in the real estate business as
an adjunct to his speculative enterprises
Linebarger's fortunes were at a low ebb.
1t was necessary for him to pyramid many
times In order to make a big winning. Sew
eral times he was nearly wiped out. But
now he has cashed in as one of the biggest.
winners of the campaign, and went back to
his Office, where he threw his real estate
sign into the street.
Here is the story Of dozens Of others who
have cleaned up fortunes:
Earl ONeill, a telegraph operator was
working for less than 800 month six
months ago. Today he is worth close to
$3.50, 600.
good share of his fortune has been
made within the last three weeks.
Had the Tip.
One day a messenger boy handed him a
tip The boy said: "Wheats going up,
ONeill." Then he met Joe" Snydacker
of Scotch & snydacker. "Wheat's going
up to a dollar" said snydacker. why.
every one has that tip replied O'Neill
They discussed the matter and decided to
take flyer. Both made big winnings
The brokers and individuals in Chicago
the middle west and northwest who have
cleaned up around 81 ,OOO, GOO are too numer-
Gus to mention. That Chicago men were
big winners Is evidenced by spend-thrift
living, now leading, where they were
steering close to the shore only few weeks
ago
Who are the losers?
The individual plungers on the board Of
trade who will admit they have been caught
in the squeeze can't be found.
OF course there are plenty of Them
But the men who are known to have lost
millions of dollars are the owners of eleva-
tors. In every grain center in the United
States elevator owners have lost money.
How much may never be known.