Evening Republican, Volume 20, Number 54, Rensselaer, Jasper County, 3 March 1916 — Rumor Says Benton Farmer Lost $260,000 On Wheat. [ARTICLE]

Rumor Says Benton Farmer Lost $260,000 On Wheat.

We have not been informed as to the profit and loss account of Mr. James Lowman’s trades upon the Chicago market lately. The last story was that when wheat was at $1.35 he had from 1,000,000 to 2,500,000 bushels of wheat. The price for a few days has been around $1.09. If he had kept even a million until now the loss would have been $260,000—a tidy sum for a Benton county farmer. When Joe Leiter went into the wheat market 18 years ago there was plenty of times that he had a .paper , profit of millions, but it cost his family many millions to help him let go. They loaded all the cash grain in the country onto him, and manipulated the railroads and steamship lines to keep him from selling any of it. It - was with great glee that old man Armour and his pals and pirates went after young Leiter to skin him of his millions. No bunch of bandits ever made as complete or successful plans to hold up an express car as those who were after Leiter’s scalp—and got it. Paper profits of board of trade and real estate are two different things.