Show CORNER IN WHEAT HAS BEEN BROKEN Break in Market Follows Desertion of Leader and Many Fortunes Have Been Wiped Out Mad Scene In Grain Pit When DIscovery DIs-covery Is I Made of Pattens Unexpected Unex-pected VacatlonRed Letter Day In History Chicago Board of Trade Chicago James A Patten the wheat king has apparently abandoned the fight and has sought the soclu telon of a ranch in Colorado twenty flvo miles from a railroad declining to be Interviewed on the probable outcome of the remarkable corner ot May and July wheat simply declaring that It Is vactlon time I have plenty of money have earned a rest and now I am going to take it When seen at Trinidad Colo on Thursday prior to his departure for the ranch of W H Bartlett his partner part-ner Patton said There Is a short ago of wheat and that accounts for the high price I have not manipulated manipu-lated the market simply bought wheat and contracts to deliver wheat just like steel makers buy raw iron Why not I bought whir it yes all I could get and when It Was cheap Wn sold when the price went up Thats all it But Pattens disappearance from Vihlcago has been taken by many tom to-m n that he realties that ho has met defeat Thirty million bushels of wheat ae a low estimate were dumped Into tho pit on the Chicago board of trade within the space of a foWshort hours Thursday From the tap of tho opening gong until the bell clanged the closing of the most sensational days trading ever experienced on the board the bears were In full control of the market mar-ket The price of wheat carried along In a maelstrom broke with almost In cneallittrYt 7dlty ° V AOtfOnos vwor swept away In minutes The pit was a howling fighting mass of men who looked and acted as If they suddenly bad been bereft of all reason Soil I Sell Sell Thin was the order or-der of the day And or every seller amongst that mob of scrcmlng tearing tear-ing pushing mol sad men there was a buyer Thursday April 22 1909 will go down in the history of the Chicago board of trade as a red letter day Wheat for the May delivery broke from 1240 at the opening of tho days trading to 120 at the close Wheat for the July delivery broke from lltnu at the opening to 10941 Wheat for the September delivery broke from 105 at the opening to 1101 y The losses that were sustained during dur-ing these hours of wildly excited tradlnK are known only to the men who were on the wrong sldo of the wheat market But they amounted to millions of dollars It seemed as though the psychological moment had come for action for a break In the prices of wheat The manipulations of the king of the wheat pit James A Patten had put the prices ot May end July wheat to a higher level than they had been In many years At the close of the nerveracking day George W Patten tho office manager man-ager of the firm and In tho absence 01 his brother Jim the field general gen-eral In command figured up the slips that were handed to him by a weary I bruised corps of traders and calmly announced that his firm had bought more wheat than It had sold during the turmoil This statement Is not believed by many the charge being made that Patten has taken his profits Others declared the wheat king Is hopelessly ruined |