Rising wheat prices rang the speculative tocsin loudly and fiercely last week. Other commodities became buoyant. Good cheer spread to Wall Street.
Although the report that Russia would export no wheat for two years was denied, wheat surged upward. On every recession, buying by the public became more apparent. Seats on the Board of Trade jumped from $6,500 to $12,000. Arthur W. Cutten, greatest of living wheat bulls, became almost a national hero; telegrams poured in upon him asking how high wheat would go. He merely said he was bullish, named no prices....
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