The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-12-31
DOWN AND OUT.
Former Chicago Broker Leaves
Topeka Penniless.
F. Y. Biedler Gives Up Fight to
Retrieve Fortune.
IOSTINPATTENC CORNER
Tried to "Buck" Wheat King
With Disastrous Results.
Went Home on Ticket Furnished
by Mother.
LOSTINPATTENC CORNER

1t is far off cry from metropolitan
brokers' office in magnificent suite oi
rooms, down to a penniless night vigil
in Topeka. followed by a railroad ticket
from mother, which today sent F. y.
Beidler, a former Chicago broker, hur-
rying home to Mt. Pleasant, Ill. But
when it is considered that fortunes arc
won and lost in a day, in the specu-
lative mart it does not seem such far
of cry after all.
Beidler, who is a cousin of X Y.
Beidler. candidate for Illinois secretary
OF state at the last general election. has
been in Topeka for several months.
During this time the former pit oper-
ator has been connected with the Wolf
Brothers Co, in the commission bust
ness. One day this week after having
lost what little his salary allowed HIM
to invest in puts" and calls" Beidler
found himself out of employment.
While meditating and planning a
course of action distant relative who
lives in Topeka, sent a communication
to his mother informing her of his
Strengthened condition. This was fol-
lowed by a railroad ticket from the
mother to the son. and this morning he
boarded a train for home. There he
stated probably assist his brothers in
the publication of a country newspaper
in his home town.
During the Patten regime one year
ago. when the sensational bull" rec
ords of Joe Letter and John w Gates
were broken in May wheat. Beidler
maintained an office in Chicago. In
vestment after another he placed in the
maelstrom known as the wheat pit,
where he was himself a constant trader
i -z1r-
ket. With band of others, he at
tempted to bear" down the high levels
but they were unsuccessful.
As daily the market reached new high
levels, Beidler and his associates hoped
against fate. With the characteristic
faith of the plunger, they steadily ex-
pected turn of the tide and while the
bulls" ragged the bears" sought to
bear them down. How successful they
were in their attempt is only too we'll
known, for James A. Patten, heralded
the world over as wheat king, brought
the May market to close with a for
tune of several millions of dollars, all
won on the bulge.
Beidler and his associates came out
of it all, Strengthened, but a small part
of the financial debris wrought by the
Croesus of finance. His magnificent
suite of business rooms wrested from
him, penniless he came from the cen
trail east to the middle west here to
retrieve his lost fortune. Again he was
unsuccessful.
Coming to Topeka from Oklahoma.
Beidler was connected with the local
commission company. and from his
modest earnings placed all but what
was necessary for bed and board,
through Topeka correspondent in fu-
lures in the pit. His small ventures,
like his more important ones a year
ago, were failures. The tide turned
against him. and he couldn't come over
with the necessary margins. Beidler
was shut out, and again his all had
gone the way of the speculative mart
And now he is going home. He doesn't
say that he will never again engage in
speculation in futures. AS a matter of
fact, he doesn't like to talk about it,
but the implication is there. In every
way there seems to be something in
his manner of expression, a curious
twitch of the eyelids. and a tone in
his voice which says: Well, no matter
on the other hand. it's a far cry from
the peaceful, happy life, of the con-
tented man, to the swiftly. swirling,
seething maelstrom of the pit specula-
tor.