THE GRIP OF THE PIT 203 



what he was about to do they would have vetoed it; 

 but when they did discover what was afoot it was too 

 late to prevent the situation. It developed very swiftly. 



" The Grain Growers are up to the neck in May oats," 

 was the whisper which passed about among the other 

 traders. That was all that was necessary. 



" Sell May oats! Sell May oats!" 



On every side of the Pit they were being offered by 

 thousands of bushels five twenty-five fifty thou- 

 sand ! The idea was to load up the Grain Growers' Grain 

 Company to the point where their line of credit with the 

 Clearing House would become exhausted, after which 

 every bushel would require a marginal deposit. Then 

 when the Company could carry no further burden the 

 Clearing House would be forced to dump back the oats 

 onto the market, breaking it several cents per bushel. At 

 this lower price the traders who had obligated them- 

 selves to make these big deliveries would buy back the 

 necessary supply of oats at a profit and everything 

 would resume the even tenor of its way except the 

 Grain Growers, of course. Their serviette would be 

 folded. Their chair would be pushed back from the 

 table! They would be through! 



Up until now all the troubles of the farmers in 

 marketing their own grain may be said to have come from 

 sources outside themselves ; but in the present instance 

 they had nobody to blame but themselves for the predica- 

 ment. It arose at a time, too, when the other grain 

 dealers were beginning to recognize the farmers as a 

 force in the grain market a force which had come to 

 stay. It was unfortunate, therefore, that just as they 

 were beginning to acquire a standing as a solid and 

 sensible business concern, the Grain Growers' Grain 

 Company should find themselves driven into a corner, 



