A Deal in Wheat

by Frank Norris

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Summary

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The fluctuating price of wheat serves as the central motif binding this episodic tale together. We follow Sam Lewiston, a Kansas farmer, as he grapples with the harsh realities of the market. As the narrative unfolds, it reveals how the intricate interplay of economic forces affects not just individuals but entire communities.

The Looming Crisis

Sam and his wife, Emma, are in a state of anxious anticipation as they prepare for the day. The crucial question on their minds is whether the price of wheat remains at sixty-six cents per bushel. Like many farmers in Kansas, their livelihoods teeter on the brink of ruin if the market fails to improve. Despite the ominous forecasts, Sam must proceed with the sale of his wheat, knowing well that if the bears dominate the Chicago market, their beloved land could slip away. Facing an uncertain future, Emma suggests considering his brother Joe’s offer of employment in Chicago. Although the idea of surrender is disheartening, as Sam departs with a farewell kiss, it becomes increasingly clear that their hopes hang by a thread.

Devastating News

Upon reaching the office of Bridges & Co., Grain Dealers, Sam is met with unsettling news. Bridges himself confirms that wheat has dropped to sixty-two cents a bushel. "It’s Truslow and the bear clique that stick the knife into us," exclaims Bridges, expressing his helplessness in aiding his farmer friends. This price drop spells disaster for Sam and many in his community. The cost to produce a bushel is a dollar, and storing the grain is financially impossible for Sam. Overcome by this blow, Sam returns home to Emma, resigned to the reality of their situation. "We’ll go to Chicago," he admits, acknowledging their complete financial devastation.

Winds of Change

Months later, the scene shifts as Mr. Hornung and the bulls successfully drive the wheat price to $1.10 a bushel, forcing the bears, led by Truslow, into retreat. Hornung finalizes a deal to sell one hundred thousand bushels to Truslow through Mr. Gates, Truslow's associate. While Hornung questions the wisdom of the sale, believing Truslow overpaid to meet overseas obligations, his broker insists that the bulls should have pressed their advantage to crush Truslow. Only then could they secure the bull market’s dominance.

A Sudden Reversal

In the energetic chaos of the Chicago Board of Trade, days later, Hornung maintains his stronghold with the wheat price at $1.50 a bushel. Unexpectedly, a newcomer bear named Kennedy begins selling wheat in substantial quantities. The bulls are bewildered by Kennedy’s source. Had Hornung wavered, the market might have collapsed, allowing the bears to push prices downward. Suspicion falls on Truslow, yet stories suggest he is away in Wisconsin, fishing at Lake Geneva.

The Unraveling Mystery

The mystery unravels in the next episode, as Cyrus Ryder, a detective, reveals his findings to Hornung and his broker. Disguised as a hobo, Ryder explored Chicago's Belt Line to uncover Kennedy’s wheat origins. It is revealed that Truslow, owner of the Belt Line, clandestinely transported the wheat he purchased from Hornung back to his own elevator, masquerading it as fresh shipment from Kansas. Truslow’s cunning ruse aimed to destabilize the bull market by repurchasing from Hornung at a profit. While the broker fumes over Truslow’s deceit, Hornung admires the cleverness of his tactic and plans to counteract by raising wheat prices to two dollars.

The Harsh Reality

The narrative shifts to a breadline outside a South Side bakery, in the cold and rainy early hours. Among the crowd of hungry men is Sam Lewiston, who has moved ahead to Chicago, leaving Emma in Topeka, to...

(This entire section contains 827 words.)

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work for his brother Joe. Unfortunately, Joe's hat factory has shuttered, partly due to the repeal of protective tariffs, and Sam struggles to find stable work. The breadline offers vital sustenance to those without food or shelter. Sam reflects on the breadline as a small refuge from the engulfing despair. But his solace is short-lived when a sign is posted announcing the bakery will no longer distribute free bread due to the wheat price soaring to two dollars a bushel. The ground beneath him crumbles once more, leaving Sam dazed and struggling against uncontrollable forces.

Resilience and Realization

Despite this setback, fate takes a turn for Sam as he secures work cleaning the streets the following day. Demonstrating diligence, he quickly climbs the ranks, summoning Emma to join him as he advances from shift-boss to deputy inspector and ultimately, inspector. This journey brings forth a newfound clarity for Sam. Reading about Truslow's maneuverings against Hornung, he discerns that he, along with countless others, is caught in the crossfire of a titanic struggle between the Bear and the Bull. The financial giants, indifferent to the plight of farmers and laborers alike, gamble with the world's sustenance. Though they remain unscathed, Sam's experience furnishes him with a sobering understanding of the brutal economic landscape, empowering him to face the future with hard-won wisdom.

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