Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-22
Financial News Letter
BY W. C. NICHOLAS.
Special Correspondence of The Star.

Special Correspondence of The Star.
NEW YORK, December n, 1907.
1t begins to look as though the gold
we have been importing from the other
side was not borrowed. but money paid
to US for things We bad sold. The official
statement of imports and exports for No
vember shows S75,0oe.C00 worth of cotton
sold and shipped in that one month alone,
a total which is said to be record break
ing Shipments since the beginning OF
the present month have also been very
heavy in cotton and away above the aver
age in many other of our staples. re-
cent week shows 6,Oo000O' bushels In
wheat exported from the United States
out of worlds total exports Of S.OO0,OOo
bushels. Exports of merchandise for the
first eleven months of the year footed UP
in excess of 81, 100, OOO. 900. or at the rate of
about 81. 900. OO0. 600 a year, a balance of
trade in our favor of more than $4,000
COO Instead of allowing an enormous
balance to remain idle in EuroOe 1t
pleased us to draw thereon to meet home
indebtedness and to tide over period OF
unusual stringency. The bookkeeping
analysis taken at the end of the year will
undoubtedly show that instead of being
painfully in debt to the old world we
will still have a comfortable balance upon
which TO draw in the event of further
emergency; also that our neighbors across
the Atlantic will have to buy largely Of US
for food and clothing.
Il
Incidentally in connection with this
matter of International trade it may be
stated that quite speculative fever has
taken possession of the gambling element
in favor of higher prices for wheat. The
statisticians and spectators out in Chi
cago have carried their propaganda into
the east. They are impressing the people
hereabouts that wheat is a buy anywhere
under N.25 a bushel. They are telling
everybody that America has about the
only available surplus for export and that
the old world will be willing to pay any
old price to keep from starving to death.
AS factor in the present bull situation
1t IS mentioned that the two newborn
NapOleonS of finance. Brandt Walker and
a Juvenile invader from Boston by the
name of Livermore. are short about 5000
OCO bushels of wheat each on the Chicago
Board of Trade. Inquiry having devel-
oped the fact that these two operators
are safely margined. the inside gang on
the Chicago board has gone after the
money.
1t is one of the tenets of the Chicago
Board of Trade to let no outside money
escape. Walkers money can hardly be
CdlteQ OUTSIDE money III tHe StflCteSt sense
Of the word, for that spectacular plunger
was for many years an active member
of the Chicago organization, but he had
been away long enough. to come under the
general classification. The Chicago Board
of Trade has an unbroken record of fifty
years of getting every big chunk Of out
side capital that inadvertently strayed
within its sphere of influence. In that
time it has pulled off some good-sized
chunks at that. including $s.0oo.OO9 from
James r. Keene. 100000 from Nc
ueoegh & Plankington of Milwaukee, &c.
0o0.0 from Pillsbury, the Minneapolis
miller; $4,000. 900 from Flood. Mackay &
Sharon. the bonanza trio: 0.OoO. 600 from
E. L. Harper and the Fidelity National
Bank Of Cincinnati and other ones almost
as large. When there was no outside
money to go after the big plungers on
the Chicago board ate each other up.
One time they landed Joe Letter and his
father for $12.O0O.OO0. In the light of
these great past performances Livermore
and Brandt Walker will hardly class as
chicken, feed.