FORTUNES IN THE WHEAT PIT

Dominion, Volume 10, Issue 2913, 27 October 1916, Page 5

FORTUNES IN THE WHEAT PIT

(From the London "Times.") • Now that the recent storm in th'a Chicago wheat pit has temporarily djf» down speculators are engaged in balancing their profits and losses. A con-, servative estimate of the gains named by big speculators is £1,500,000. The 6Um6 credited on the right sido of their ledgers may even reach'£2,ooo,oool; they certainly will not bo less than £1,000,000. Smaller men have also made not inconsiderable profits. A trader who has not made £5000 during.the last week or ten days is regarded as a poor specimen. It is not likely,that anything will ever be proved against Ger-man-American speculators. Ihe sugg o3 " tion of an investigation into their activities is not regardod seriously. In view of the elections such an investigation would not be good politics. Tra - „» aeree that tho shortage of «hea,t justifies high prices. To the London criticisms of their operations theyretort, that the boldest specuktors are British. ■A Canadain, Mr. Arthur Cntten en ioys with them the credit of, reaping the greatest' profit. His winnings.during the last fortnight are placed at -400,000 Mr. J. Ogden Armour, the millionaire beef packer, who is a very cauticus speculator, is believed to ,b»« netted £100,000. Mr. Adolf. Lichtenstein, is supposed to have secured-.150, 000 profits. Finally, M r - Jame Jj the retired "king' of the wheat pit, has landed £100,000 as the result oMus reoent speculations. The cat wheat operators all msist ( that ttie existing conditions are not tive," but are due solely to the tions of tho crop in the t^ CO J .,, S wheat-producing States of North Dakota, South Dakota, and Minnesota.