The days passed. Soon another week had gone by. The wheat market steadied down after the dollar mark was reached, and for a few days a calmer period intervened. Down beneath the surface, below the ebb and flow of the currents, the great forces were silently at work reshaping the “situation.” Millions of dollars were beginning to be set in motion to govern the millions of bushels of wheat. At the end of the third week of the month Freye reported to Crookes that Cressler was “in,” and promptly negotiations were opened between the clique and the great banking house of the Stires. But meanwhile Jadwin and Gretry, foreseeing no opposition, realising the incalculable advantage that their knowledge of the possibility of a corner gave them, were, quietly enough, gathering in the grain. As early as the end of March Jadwin, as incidental to his contemplated corner of May wheat, had bought up a full half of the small supply of cash wheat in Duluth, Chicago, Liverpool and Paris⁠—some twenty million bushels; and against this had sold short an equal amount of the July option. Having the actual wheat in hand he could not lose. If wheat went up, his twenty million bushels were all the more valuable; if it went down, he covered his short sales at a profit.

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