The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1915-06-11
Spectators Have Bargained
Away This Years Wheat.
1t Has Been Marketed at $1.25
to $1.45 a BuShel.
NOW FORCING PRICE DOWN
They Expect to Buy 1t at
About 75 Cents.
Quotations Have Dropped 40
Cents in a Few Days.

That Kansas City and Chicago
spectators are forcing down the price
of what that they may increase their
profits on future deliveries at the ex-
pense of Kansas wheat growers, is the
opinion of P. E. Laughlin, assistant
state bank commissioner. In the last
few days wheat has slumped 40 cents
a bushel. Yet Laughlin declares the
condition is merely strategic move
on the part of the speculator in crop
futures and that ne has already sold
for July and September delivery at
$1.25 to $I.45 a bushel.
The situation this year, says Laugh
lin, is similar to the one faced last
year. As a result of the 1914 condi-
ton, Congressman Doolittle of the
Fourth Kansas district secured a fed
eral probe of conditions. But the in
Vestigation has not relieved the situa
ton which confrOnts the Kansas farm
er in the disposal of his new crop.
According to statement made by
Laughlin today, 60 per cent of the
Kansas wheat crop is usually forced
on the market Immediately following
the harvest. AS a result of the in
ability of the farmer to hold his crop,
Laughlin says, the Spectator is able
to take advantage of the situation
and multiply his profits. Laughlin
says an effort will be made by the
grain spectators to force the wheat
market to the as cent point. Such a
condition, according to the assistant
bank commissioner, would mean a
profit of from so cents to 20 cents a
bushel on several million bushels of
grain which will go to market early.
Laughlin is himself a wheat pro-
Queer and for that reason has kept in
touch with conditions in the grain
market. He expects to sell several
thousand bushels of wheat from his
farm in Marshall county this year.
q "a iS n
sell early, Laughlin will hold his grain
until the market is returned to what
he believes to be normal conditions.
Kansas Crop Already Sold.
wheat has dropped 40 cents a
bushel in the last few days. said
Laughlin. why? Has peace been
declared or is there an over world
supply? No indeed. Merely history
repeating itself Last year At this
time the same condition existed The
spectators have already; sold the
Kansas crop in futures for July and
September delivery at prices ranging
from S1.25 to $1.45 a bushel, basis
Kansas City.
Now they expect to force the price
down just at threshing time, knowing
that: so per cent of all wheat must
pour into market at that season and
they expect to fill their $1.45 con-
tracts by giving the Kansas farmer
rs cents, just as they did last year.
Having their contracts filled, they
will then buy the grain at rs cents,
hold it and when the rush is over and
so or 20 per cent of the crop is out of
the farmers hands, they will grad
ually dump it on the market. Then
watch the prices climb.
1T is the same old game. The Doc
little investigation last year started
too late: 1t has been claimed that
single wholesale grain firm not very
far from the Kansas border and with
no very large capital invested, cleared
several million dollars on last years
crop. What will they clear this
time?"
1t is quite probable that the Laugh
lin statement will be taken up by
number of prominent Kansas bank
ers. Such action might result in an
effort to finance the producers to
hold their crop for more favorable
prices. Last year many of the wheat
growers in the western counties were
forced to sell their crop early. They
needed the money and jumped at the
65 and 40 cent prices. This year. how
ever. many of these same farmers
have their bills paid and money in
the bank. They will be better pre-
pared to hold out against the specu-
lators than at any time in years, it is
claimed.
- likes man dat allus has a cheerful
disposition said Uncle Eben, .'pervided
dat he dOesn' get it by shown all de worry