AMERICAN WHEAT CORNER.
A despatch from Chicago of Feb. 15, referring to the wheat market, says: — Wheat opened at slightly under a dollar, and it was some time before the true situation was unfolded. Then everyone scrambled for the . grain, and there was none for sale. Shorts tried to cover, but could not. Leiter would not sell a bushel, and he is the only one who has anything. "Leiter can put the May wheat to Idol 50c if he wnnts to," said Philip D. Armour to-night. ' Te need not make a move ; he has only to 1.. ap still and do nothing. He has the wheai and the other fellows have sold it. The puzzle is that people will take the risk with a situation so plain ; but there are so many built that way. This is their day of reckoning. There will be good prices for wheat for another year at any rate. These matters go in long runs — years of plenty and then of scarcity. The empty places cannot be filled up in one season. This wheat will go out at Idol 25c."
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Bibliographic details
Star (Christchurch), Issue 6137, 25 March 1898, Page 3
Word Count
185AMERICAN WHEAT CORNER. Star (Christchurch), Issue 6137, 25 March 1898, Page 3
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