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Newspaper Page Text
x sion is like a hot potato in the pit.
You catch it, hold it as long as you
can, toss it; it is caught, held and
tossed again. And the man who is
hplding the hot potato when the mar
ket closes owns it.
That 20,000 bushels was tossed and
caught many times before the day
was done. That was speculation.
And every broker who handled it
got his commission.
September wheat, said the board
on the day I was there, was '97 and a
James A. Patten,
fraction. November wheat was about
the same. But MAY WHEAT
May wheat was 107! May, 1915
You get it, don't you? The oper
ators are all up in the air about the
war in Europe. Does Europe want
our wheat? And how is the wheat to
be got to Europe? And what about
paying for it?
But next spring, maybe, Europe
will be starving. Europe will have to
have our wheat. Perhaps the British
fleet will sink the German. Or the
other way about. A way will be found
to get our wheat into the stomachs
of starving Europe perhaps.
So May wheat is "up." -And be
cause Europe stands a good chance
of starvation next spring we at home
zriU pay just that much more for pur I
bread and butter.
The Chicago Board- of Trade lastv
year received 383,494,000 bushels of
American-grown wheat It sold 274,
But a bumper crop is looked for
this year. Nine hundred million bush- .
els is the guess of the experts. Fine
for the farmers. Fine for the madmen,
in the pit who will toss the yellow
grain about in 100,000 lots. i
But, business being business and
the law of supply and demand being
an immutable law, you will pay, not I
less, but more for your bread and
butter so long as Europe starves.
kaiser pleased with wilson i
Copyright, 1914, by the United Press.
By Karl H. Von Wiegand.
The Hague, Holland, Aug. 17.
Emperor William wrote his acknowl
edgement of the tender of mediation
made by President .Wilson hx'fiis own
hand and turned it over to. Ambas
sador Gerard. It was a courteous
acknowledgement of the receipt of
the tender bT good offices. But it
made no promises.
The emperor received Ambassador
Gerard in the palace garden on, last
Wednesday. The ambassador, who is
extremely wellTliked by the kaiser,
was greeted with a handshake. Then
the emperor offered him a chair at a
table which was covered with war
maps and dispatches from the front
and the two men conferred for over
The kaiser was solemn, earnest,
but confident There was a charac--teristic
charm and tranknfess in his
manner and contrary to general ex
pectation there was none of the
hurly-burly of war.
He reiterated the declaration that
he had always sought peace and had
endeavored to prevent the war. He
placed the blame on Russia, which he
said, was entirely responsible. Then
he thanked the president for the of
fer, which he promised would be.