“Hum-m-m!” said Cappy.
“You bet! And it's a smaller loaf, by the way. Doesn't that argue that there is something doing in wheat, when the price of bread goes to six cents for a half portion?”
“Well, there might be something in that, Gus. Crack along and tell me some more.”
“Until the identity of the real culprits is fixed, Cappy, we must blame the war in Europe for the six-cent loaf; likewise for the fifteen-dollar shoe that formerly cost our wives six or seven; for the eleven pounds of sugar for a dollar, when twenty to twenty-two pounds was the standard in the good old days. Europe is too busy fighting to pay much attention to farming; the wheat farmers of Canada are somewhere in France instead of being at home 'tending to business; and it has been up to Uncle Sam and the Argentine Republic to feed the world, you might say. Naturally speculators have seized upon this condition to shoot the price of wheat to the skies, and in desperation the millers have been casting about to buy cheaper wheat. Investigation discloses the fact that Australia has an enormous quantity of wheat on hand; some of it is the surplus of the 1915 crop. Of course she has exported all she could to England; but, at that, she has been handicapped.”
“How?”
“Because when a ship sails from Liverpool with goods for Australia, it is a rare case when that same ship promptly loads with Australian goods and puts back to Liverpool. She takes a cargo of coal, say, from Newcastle up to Manila; a general cargo from Manila to Seattle or San Francisco; thence to a West Coast port with a general cargo; thence to New York with nitrate; thence to Europe with foodstuffs or munitions. Australia hasn't had the tonnage to export her wheat and it's been piling up on her. Now they've simply got to sell something to get some ready money.”
“This is perfectly re-markable!”
Redell took a document from his pocket and gravely handed it to Cappy, who examined it and discovered the same to be a charter party, consummated the day before between the West Coast Trading Company, owners of the barkentine Mazeppa, and Messrs. Ford & Carter, a well known export and import firm whose principal business was done in grain. Cappy read the charter party carefully and even verified the signatures, with which he was familiar. The vessel was to carry a cargo of wheat from Melbourne to San Francisco at a freight rate that fairly shrieked the word “Dividend.”
“Re-markable!” Cappy declared. “Preposterous!”
“Seeing is believing. Call up Ford & Carter, and they'll jump over themselves to give you a cargo of wheat for your Mindoro.”