Show PATTENS DEAL SUCCESSfUL AND THE SHORTS WERE NOT SQUEEZED Bull Bun Leader in inthe the Chicago Pit Bought and Sold at Though T ough He Might Have H ve Run I p to 5 Chicago May 28 2 hat is generally geI conceded tb have been tile the most suc successful wheat deal in the annals of the Chicago board of trade closed today and it closed without squeezing of shorts which in other days was vont ont to furnish a show to fo the gallery vis visitors visitors Is and arid leave La Salle street stagger staggerIng staggering Ing ins James A Patten during brief session made a fixed price Of a bushel Through his pit clerk pd d Walker he bought or sold at that price but the buying was almost purely theo theoretical theoretical theoretical on his part He did take in a afew afew afew few thousand bushels from some trail trailer er who waited until the last moment for his profits but in the main lie he dis disposed disposed posed IK sed of about a half halt million to shorts who had hoped against hope to the last moment and then in the parlance of the pit took their medicine medi lne Duller Than Usual It was all quite really duller duner than usual and not even ev n remotely re resembling resembling resembling the turbulence of the sessions of ot previous months Few were In the pit and Mr Patten was not one Q of ot them He sat tin n his office facing the blackboard chewing vigorously at a quid of gum his hat pushed back on his head and nd his eyes fixed on the quo quotations quotations quotations of options other than titan May It was not until an hour after aster the close of the market that the only bit of sentiment connected with the whole thing leaked out A procession of clerks headed for the cashiers office with broad grins on their faces and slips of white paper In their hands called attention to it and It was learned I that every of the ten house had been given a bonus of 10 per cent of his annual salary The price at which May lay wheat closed today did not represent a fictitious value alue It was according to traders consistent with the price the world over Mr Patten had he wished might have haie put the price at IS 5 and remaining shorts would have been compelled to pay it or acknowledge bankruptcy Consistent Throughout However according to his friends he remained consistent with his assertion that he had bad no wish to manipulate prices but only to secure the legitimate legitimate legitimate mate profits of his foresight He backed his judgment that there was less wheat In the world than was generally be believed believed believed and found himself in control Wall street sold short as 88 did some In Influential western speculators but Mr Patten stood firm Orm He took a vacation at a critical period of the campaign and Ignored a decline of oC 12 cents that fol foi followed followed lowed his departure from Chicago That loss lo g was more than recovered for forIt forIt forit It was only a few days ago that the cereal sold at 1364 the highest price in eleven years Mr Patten has made a fortune how much he cannot say 8 until his cash wheat Is marketed Hs His H s own admission however seems to make 1000 a n conservative estimate It may run much larger The losses it is said Kid have fallen mostly on professional tonal specula speculators tors I The battle is not over yet for the bulls and bears are still divided as to whether empty bins will be replenished by the July harvest |