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.
Ed Murray, agent at the depot, showed me a wire from the Orthwine people in East St. Louis, bidding Mike Worthy 18% cents. I had shipped some corn to the Orthwines. I wired them, offering 10,000 bushels at 18 3/4 cents, same as their bid to Mr. Worthy. Their reply was slow in coming, and I may say that when it did come, the market was off nearly five cents.
I had told Albert that evidently the Orthwine people were waiting for the market to open—and that I was going to sell mine on the Board, and asked him if I should include his in my sale? He studied a moment, then said, “That would be gambling, wouldn’t it?”
I said, “No—not when we have the corn to fill the contract. This will be protection against further loss. We gambled, Albert, when we bought the corn at the ridiculously low price of eleven to sixteen cents a bushel.”
Albert said, “I don’t know about that. If it wasn’t for them weevil in the corn, I would hold it over until next year.” We had previously discussed this, and decided that it would not be advisable to hold it over. He finally said, “No, I’ll not go in with you. I never gamble.” And just think of it, the fellow was buying and shipping hogs—continuing in the business until his finances were “not what they used to be.”
I sold 10,000 bushels anyway, on the Chicago Board — and cleaned up three cents a bushel by the time we sold our cribbed corn at 14 cents a bushel. “Them” weevil had us scared. But the damage was not enough to lower the grade beyond the number three contracted.
In the old days, many of the farmers would shuck their corn early, pile it out in the open on a grass patch or rocky knoll, and then haul it to market after it had taken rains and snows—the more, seemingly, the better. More than once have I gone out to the country, and shoveled drifted snow away for lots bought on contract. It was such corn as this that brought the weevil, which worked mostly in the damp spots. Another trick of the old farmer was to wait for a freeze before shelling and marketing his ground “cribbed” corn. One such car of mine, billed for “export,” and passed by the Greenleaf-Baker firm—that is, not unloaded in Atchison, was reported steaming when it arrived in Galveston. It had passed inspection in Atchison.
Think I should say here—well, really it should be apparent without saying—that our reputable farmers were not guilty of this practice. It was usually floater-tenants, irresponsible farmers making a short stay in the community, who devoted much time to figuring out a way to skin someone. A fellow by the name of Groves, farming the old Adam Swerdfeger place eight miles northwest of Wetmore, contracted to deliver to me 800 bushels of “Number Three, or better” corn at 32 cents a bushel. When the wagons began coming, in the afternoon, I saw the corn was not up to grade, and I held up the haulers waiting for the arrival of the seller. In the meantime I learned from the haulers that it was corn that had been frosted, gathered while immature, shelled while frozen, and stored in a bin on the farm. The fellow had sent word by the last hauler in, that there would be two more loads to follow. When they did not show up at the proper interval, I dumped the loads (in waiting) and let the impatient farmers go home. I knew now from the way the fellow was holding back that I would have a tough customer to deal with—but I would take a chance on him. I felt that I couldn’t afford to keep the haulers, who were my friends, waiting longer. The seller came in with the two loads between sundown and dark. I told him the corn was not up to grade. He said,”Well, you’ve dumped it, haven’t you?” I said, “Yes, for a fact, I have dumped thirteen loads of it—but here’s two loads I’m not going to dump.” But I did finally dump them, on agreement with the fellow to ship the lot separately and give him full returns. The shipment was reported “no grade” and the price was cut six cents a bushel. I paid the man 26 cents a bushel, on the basis of our weight—and was glad to be rid of him. Then, the next day I received an amended report on the car. It was found to be in such bad condition that the receiving house had called for a re-inspection—and the price was cut another eight cents a bushel. And this was mine—all mine.
It seemed to me that nearly everything, in the old days was, in a sense, touched with that horrible word—gamble. And I know that I really did gamble in an attempt to grow a crop of corn on my expensively tiled bottom seed-corn farm down the creek a mile from town, one very dry year.
I hired all the work done, paid out $500 in good money—and got nothing but fodder.