Trading Places: Griffith, Patten and Agriculture Modernity

One thing I came across recently on the web was the following paper: Trading Places: Griffith, Patten and Agriculture Modernity It’s a lengthy academic paper which is largely based upon the film A Corner in Wheat, directed by D.W. Griffith in 1909, but in many other ways captures the sentiment towards grain speculators at the time.  The film is only …

Identity

Although the following article doesn’t fall within the realm of ‘tradingpithistory’ it does have a lot of similarities with those who left the trading floor as to their self identity.  Justin Bourne, a former pro hockey player who is now a columnist, wrote recently on the effect of leaving a career that largely defines who a person is.  I’ve watched …

MATIF trading cards

Thanks to Fabien Danis of Paris for sending on the scan of the front and back of some cards used at MATIF by the firm Oddo.  I’m a bit suprised that the A side is red and V is blue (A for acheter “buy” and V for vendre “sell”) as those colors are reversed everywhere else.  Although nothing remains of …

New York style pits

One thing I’ve never understood is why the New York trading pits were a circular ring rather than an octagonal shape like the pits in Chicago, Minneapolis, Kansas City and the first pit in Milwaukee.  As a result, most NY traders refer to the trading pit as “the ring” and the roots stretch back to at least 1886 as shown …

1

CME visitor gallery

Above is a 1995 advertisement for the CME visitor’s gallery which truly was one of “Chicago’s most spectacular views.”  After the September 11th, 2001 attacks, the viewing gallery was closed to the public unless part of a pre-registered tour group and it’s a shame that the terrorism did lead to many reductions in freedom and security restrictions across the US. …

In the Wheat Pit by James Patten

As a followup to Story of a Speculator by Cutten, I’ll present In the Wheat Pit by James Patten who was King of the wheat pit prior to Cutten assuming that role.  Both men presented their stories as serials in the Saturday Evening Post in collaboration with Boyden Sparkes although Patten’s story preceeded Cutten’s by five years as it was …

5

Story of a Speculator

I’m going to focus on a few other things for the next couple weeks and won’t post much, if at all, but wanted to leave some enjoyable summer reading.  In 1932 Arthur Cutten, who was the single largest speculator the CBOT wheat pit ever saw, wrote the following Story of a Speculator which was privately published after appearing as a …