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
When I got a free hand, I also got the corn. We received bids from the
purchasing houses every morning, good until 9:30 a.m. Corn bought after
this time would be subject to the fluctuations of the day’s market, with
a new bid the next morning. Though I hardly know how it got started,
it became a fixed routine for the firm’s telegraph operator and buyer,
George Wolf—now Executive Vice President of the Exchange National Bank,
in Atchison—to call me up after the close of the market. If I had bought
corn that day on the basis of the morning bid, and it had dropped a
cent, or any amount, he would book it at the morning bid. And if it
had gone up he would tell me to hold it for developments the next day.
Sometimes the market would go up day after day, and I would not sell
until there was a break; and then I would get the last top bid.
That was grapes—ripened on friendship’s vine.
I spent a pleasant hour with George Wolf in his private corner of the
Exchange National, three years ago. We discussed old times. I believe
George would now vouch for all I am saying here.
I went down to Atchison one afternoon, when corn had dropped a half
cent. I had 3,000 bushels that I had bought from Jim Smith, and 10,000
bushels of the Ham Lynn corn which I had agreed to ship for his account,
at $5 a car. The corn was several years old, and a portion of the big
crib had been unroofed for one whole summer. The grade was doubtful. I
did not want to buy it outright. There was a car shortage, too, and I
wanted the shipment to take care of the grades as well as penalties,
if any, in case the shipment was not completed within the 10-day time
limit. Mr. Baker said he would take my 3,000 bushels at the morning bid,
and Mr. Lynn’s 10,000 bushels at the present market (one-half cent less)
if he would let it go at that. And in that case he would give me credit
for the half cent, amounting to $50. He said, rather gruffly, “We don’t
owe the farmer anything. There’s the phone. See what you can do with
him.” Mr. Lynn accepted the new offer. And he was mighty glad that he
did. By the time I got around to telling him all about the deal, corn
had dropped several cents. If it had gone up, I don’t believe I would
have ever told him. The Lynn shipment totaled 13,000 bushels, with only
one car off grade.
I used to take an occasional flyer on the Board of Trade—mostly, I
believe, before my good Christian friend, Albert Zabel, told me that it
was gambling. I had 7,000 bushels of corn cribbed, and Albert had 3,000
bushels cribbed on the same lots, which he wanted me to sell. Corn was
cheap then, and getting lower as the new crop promised a good yield.
A good general rain the night before had spurred our desire to sell at
once. My top bid that morning was 17 cents.
Public-domain text, read in full here on John Shaqi.
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