OCR Text |
Show PATTEN'S DEAL SUCCESSFUL. Bull Leader in Chicago Pit Satisfied With a Profit of a Million Dollars. Chicago. What is generally conceded conced-ed to have been the most successful wheat deal in the annals of the Chicago Chi-cago board of trade, closed Saturday-and Saturday-and it closed without squeezing of shorts, which in other days was wont to furnish a show to the gallery visitors vis-itors and leave La Salle street staggering. stag-gering. James A. Patten during Satu; day's brief session made a fixed price of $1.34 a bushel. Through his pit clerk, "Ed" Walker, he bought or sold at that price, but the buying was almost purely theoretical on his part. He did take in a few thousand bushels from some "trailer" who waited until the last moment for his profits, but in the main he disposed of about a half million to shorts who had hoped against hope to the last moment, ana then, in the parlance of the pit, "took their medicine." Mr. Patten has made a fortune, how much he cannot say until his cash wheat is marketed. His own admission, admis-sion, however, seems to make $1,000,-000 $1,000,-000 a conservative estimate. It may run much larger. The losses, it is said, have fallen mostly on professional profes-sional speculators. |