The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1915-02-19
Warned Not to
Speculate IN Wheat
On Monday Of This Week the,
Price Of Wheat Dropped Nine
And Ono e-ialf Cents

Fargo COurler-NeWs: Let.
ters and circulars and advertise.
ments are now flooding the maih
advising the oeop' to buy wheat
or to invest in Board of Trade o,
erations. A glowing circular, cal
culated to stir up the desire of
gain for anyone lies upon this
EDITORIAL desk.
It is midwinter, but it seems tt
be Thought by some of these art
lists that it is a good time to
shear the lambs. These various
communications set forth the
certainty of higher prices for
wheat and incidentally they ad-
vice the reader where he can in-
Vest in this 'surething.'
The Courier-News received a
warning for its readers from the
Newspaper Enterprise associa-
tdon, an organization Of which
it is a member, its central bu-
reau located in Chicago, where
its agents and writers have an
excellent opportunity to- investi-
gate the subject, and it seems so
sensible that we append it en-
tirely.
To the editor of the Courier
News:
Please warn your readers, es-'
pecialQy those with small savings,
against speculatdng in wheat.
The cards are stacked against:
everybody but the big operator
in this war market.
The Chicago board of trade is
no place for lambs just now.
Wheat is going up. There S no
doubt about the heavy demand
for this grain. It will probably
60 to 81 bushel; perhaps high
er. In these facts and in the
true stories that large fortunes,
made in a few days by Letter
and few other millionares, lies
the danger.
A great lure to- the lambs
But beware
Because: .....A
The rapid rise in wheat, due
to the wild buying of futures
has eliminated the "short" in
terest, leaving none but bulls
in the market. That means that
everybody is putting up his $50
or 500 or $500 or 5000 or $780,
600 for a rise in price.
What if something happened
that would cause a rush to sellf
Nothing could stop a disasterous
break. It doesn Il matter how
badly the foreign countries need
wheat, the break would have
to come, even if the market shot
up again, as it probably would,
in as.few hours. Butas during
thatSfew hours all the Httle fell
lows with 500 or $1,000 in the
market would lose every cent.
Only the chap with big money
to back up his margin until the
reaction came could stick.
The atmosphere is full Of
things which might cause the
rush to sell.
IF the Turkish forts on the
Dardanells, already badly bat
tered, should fall and release
Russia g huge wheat crop Of last
summer, wheat would 60 away
down for a time at least.
A minor naval defeat for Eng
land in home waters would cause
a momentary panic.
The blowing up a big steamer
in English waters by a German
Submarine would send wheat
down. The speculatoly would
hunch it out that no more wheat
could land in England and
they'd rush to sell.
Wheat is so unsteady, due to
tens Of thousands of lambs specu-
lating in a small way on margins
that almost any rumOr will send
it tumbling from 5 to 10 points.
Here in Chicago every decent
broker is refusing to take lamb
offerings. They advise every
body to stay out Of the specu-
atihg market.
If you can buy 1000 bushels
or 10000 bushels outright and
hold it, you may stand q chance
3 make a profit. But even that
isa risk.
Newspaper Enterprise Azsocia-
ion. s.s.s :,5fs,
s. I. HUGHES, Editor.
The above was pnbished in the
Courier NeWs last week.