Jasper County Democrat, Volume 5, Number 14, Rensselaer, Jasper County, 12 July 1902 — PREDICTS DOLLAR WHEAT. [ARTICLE+ILLUSTRATION]

PREDICTS DOLLAR WHEAT.

‘‘Corn King” Phillips Thinks Cereal Now Relatively Cheap. “Corn King” Phillips, the Chicago plunger, who has twice been wiped out financially, insists that the farmers may look for dollar wheat soon. While in New York recently Phillips, in an interview, said of the speculative situation: “I believe that corn and oats are fco high, as compared to prices of a number of years, as to make the speculative public very timid about buying, as conservative men will see the possibility of quick and heavy losses. But wheat, to my mind, offers splendid opportunities at this time, not only to the speculator but to anyone looking for an investment. “The very fact that corn and oats are so high makes wheat cheap at ruling prices, but outside of the influences of tha

high prices for corn and oats I believe tbe legitimate situation in wheat promises a higher range of values for the 1902 crop. "I look to see wheat average 80 cents per bushel for the next ten months, ind I should not be surprised to see tbe speculative interest so great in wheat this fall as to put December and May options to 90 cents. “The wheat crop is short over 100.000,000 bushels and the reserves are nothing. Users of wheat all over the country will be in active competition for the first movement of wheat, while farmers nre In splendid shape financially, and will keep off the market more wheat than ever before.” It was semi-offieially announced that the Union Pacific will formally take over the Bt. Joseph and Grand Island road July 1, and that at the same time the Kansas City and Omaha and the Quincy, Omaha ami Kansas City roads will lie absorbed by the Burlington, War Department has no information of four American school teachers who disappeared while taking a day’s outing in Cebu. Frank P. Sargent has taken oath of office as commissioner general of Immigration to succeed T. V. Powderly,

GEORGE H. PHILLIPS.