Memory's Storehouse Unlocked, True Stories: Pioneer Days In Wetmore and Northeast KansasBristow, John T.
Philosophy
Memory's Storehouse Unlocked, True Stories: Pioneer Days In Wetmore and Northeast Kansas
Bristow, John T.
Nemaha County (Kan.) -- History; Wetmore (Kan.) -- History
Alpheus Kempton, over north of Netawaka near the Indian reservation,
had 5,000 bushels stored on the farm. He told me he had been watching my
cribs, and thought that maybe I had inside information of a come-back in
prospect. I too had been watching some cribs, with similar thoughts.
The Greenleaf-Baker firm had 20,000 bushels stored in two long cribs at
Farmington. As I frequently traveled the railroad—on a pass—and noticed
the corn had not been moved out, I thought that maybe, after all, I had
not erred in letting the high bids get away from me. I told Mr. Baker
that I had been watching his Farmington cribs for a reminder as to when
it would be time for me to sell mine. He laughed, saying, “I’ve sold it
(on the Board) and bought it back probably twenty times.”
Well, Alpheus and I—we held our corn over another year—and then sold it
for 301/2 cents a bushel. May I say that by this time I had brushed up
on my arithmetic. And Christian or no, who is there to say I did not
gamble that time? I still maintain that I gambled when I bought
the corn. However, there were times when I sold 25-cent corn for 70
cents—and most of it went back to the country here. The only advantage
that I could see in storing corn instead of buying it on the Board, was
the possibility of striking a local market.
And again, I bought 5,000 bushels of wheat on the Chicago Board, at 61
cents a bushel, and margined it with $100. As the market advanced, I
bought seven more five thousand bushel lots with the profits, making
40,000 bushels in all. It was a very dry time in Kansas, and wheat was
jumping three to five cents a day—and had reached a fraction under $1.00
on the Thursday before Memorial Day, which of course would be a holiday,
with no market.
My profit on the single $100 investment was now nearly $4,000.00. I had
planned to get out before the close of the market on Thursday, because I
did not want to run the risk of carrying the deal over the holiday. But
the weather map, just in from Kansas City, indicated clear skies for
Kansas over the week-end. This, coupled with the exuberant spirits of
the excited dealers on the Atchison Board, caused me to change my mind.
One more day of dry weather would likely double my earnings.
The weather man was wrong; horribly wrong.
It began raining in Wetmore about 10 o’clock that night. You’ve probably
been lulled to sleep by rain patter on the roof. Believe me, there was
no lullaby sleep in the constant rain patter on the roof over me that
night. It rained off and on here all day Friday. Everyone I met on the
street here exclaimed, “Fine rain, John!” I would say, “Yep”—and think
something else. It was truly a $4,000.00 rain, in reverse—so far as I
was concerned.
Public-domain text, read in full here on John Shaqi.
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