Show WILD WILD RUSH TO COVER IN OATS ON CHICAGO BOARD I r. r False Rumor of Patten Settlement Sends the Prices Down 16 Cents Before a a. Reaction I CHICAGO July 26 Great Great excitement excitement ruled ruled the oats pit today Prices 1 l' l fluctuated so widely and wildly that speculators were almost panic stricken In int t twenty minutes Jut Jul July new oats dropped from 71 il to 55 cents a loss of ot 16 cents from the op opening of ot trade In half halt an hour more the tho price rocketed rocke t ta a 67 cents the thc closing quotation The cause of ot the pandemonium was the rumor that James Patten Patten who Is supposed to control contracts for about bushels of ot long stuff which shorts fear the they cannot deliver had allowed his unfortunate opponents to settle at about 70 cents No support was onas given Iven to the thc market for or some sone time Receipts of ot oats which have not been liberal late lately were much improved toda today at cars A iS liberal movement was estimated for tor next week Fair Fairweather Fairweather weather has been drying out the thc OV over wet fields to some extent and other conditions condItions conditions con con- favored a n natural decline in prices With the thc Patten contracts out of ot the tho way the crowd started to let thc the market take Its course ourse ourse and thrash out the In Inflation In In- In values I July new oats which opened firm at 71 cents floundered to 55 cents before support came When hen the small shorts hoard heard that no settlement had been made the few lew speculators who sold unguardedly rushed back to cover and with a whoop prices Jumped to 67 cents Trade was not particularly heavy but fluctuation fluctuations were very la ragged ed and quotations Quotation were 2 cents apart many times Other grains felt the thc depressing Influence nce of or C especially July options The Thenet Thenet net loss In July oats was wai 3 cents July wheat Closed dosed 2 cents down at 71 7 cents and July corn Y cents lower Jower at 63 c cents |