| Show i f BI TO PUT POT ANi AN b i END J TO GREAT GREA T WHEAT NER CORNE A BREAK IN INEAT HEAT EAT PRICE E Market Rises Against Its MasI Mas Mas- I tier ter King Patten and Drops Iter but Goes Up Again After Six j Minutes' Minutes of Hard Fighting BOARD OF TRADE CHIEF DENIES THERE IS CORNER Is Willing That There Shall Bean Be Bean Bean an Investigation in n Case i There Is Complaint but Scouts Idea of a Corner PATTEN HAS COTTON ALSO Chicago April 15 Thirteen 15 Thirteen Thirteen- ounce loaves constitute the effect effect effect ef ef- ef- ef of the bull campaign in hi the Chicago wheat pit when it comes down to the ultimate consumers of the great world cereal in which James A. A Patten Patten Patten Pat Pat- ten and his associates have made one of bf the most spectacular spectacular ular deals in the sixty I years' years history of the Board of Trade The big wholesale bakers in Chicago do not deny that the J loaves are being made smaller I They ri l r say y th the n next move ov will Fill be beon I. I tp pf 1 ti eps on increasing Only a sensational break today today today to to- day in th the price of wheat prevented prevented pre pre- prevented vented a further increase of 15 cents a barrel in flour The I price remained at for the I best fancy patents although the Washburn one of the largest milling con con- concerns concerns conI I cerns had announced an advance advance advance ad ad- vance before the weakness occurred occurred oc oc- oc- oc in the wheat pit Investigation of ot the charges charses mode made by bakers and millers In all aI parts of ot the country was promised by J S. S A A- Bunn Bunnell Bun- Bun n nell president of ot tho the Board or of Trade In case complaint Is IB made by the tho state officials al s. s Following ri advices oe from Washington that Representative Scott of Kansas Karnas had hail prepared a 0 bill bin for In Introduction Introduction Introduction In- In In the tho House forbidding tho the jo of all means of or communication for Information relating to dealings In futures Mr MI Bunnell said Gald Wo We court the fullest Investigation In of our OUI methods and unintelligent legis legis- legislation atlon lation Is the only oDly thing wo we 0 have reason reason reason rea rea- son to bo afraid of oCt Corners Cornera In an any commodities traded In on tho the board are Ri-a strictly forbidden b by the board boards rules If t complaint Is made math that a n. corner Is being operated here lr Ir wheat heat we shall at once make full Cull In In- l atlon Any member operating a corner will bo expelled Personally dont don't think there Is h any basis for the th assertion that Mr Patten Patton has a a. cornel in wheat The Tho advance In prices hay hav been caused solely by the tho scarcity ant asic heavy demand Patten Smile Mr Ir Patten Patton smiled at the reports from I love lovo to speculate late ho said And Ami I am willing to togo tro hO don down to Washington ton and tell those fellows there thero that I am a speculator and I think I will find them all In tho the same atnO boat Thero Is speculation In every business I say the talk that I have a corner cornel In May wheat Is nonsense non- non sense Since tho the city ordinance fixing the wol weight ht of oC loaves of or bread brad sold In cOgo cago was declared unconstitutional by Windes It Ia has not been enforced on- on forced although the Supreme court has hM not ot yet et rendered a a. decision on It Tho The question Is now pending In tho the upper upper court on an appeal taken laken by the city law fixing the r I wish there was a weight of or tho ordinary loaf at itt Ix aix- ounces said Raid Secretary W. W J. J t teen en Irvine of or II 11 Ii 11 Kohlsaat Company Compan Company loaves with as ns asan ounce sixteen To give hc bakeries as ns are arc doing business is 18 an like Ike ellin 30 10 inches o of oC sill Bilk nut 11 It a 11 yard calling loaves loaves of oC the tho sIze also sold for fora nicklo are made mad from on ono one barrel a F t S 11 n t heat market roso rOlO up a against The today and for six frenzied master p. p Ite Ita ran away from the tho minutes Panic struck the buI and for tor yoke Continued ou rage PM c T To o. o A BREAK IN THE PRICE OF WHEAT Continued from froni c One tho the first time In weeks the hungry bears had the thc semblance of or an Inning Tho The effect of or the tue uprising was to sink the price of or May wheat from 1291 to It was a revolution of or the tho approved Central American type but It foiled failed When tho the smoke cleared away James JamesA A A. A Patten Fatten wheat king leinS' was still In InoC oC office ee and before the close ho he was as so 80 sowell well veil seated again on his throne that the price reacted to 1 1271 r. r and the bulls felt relt he had saved the day The Tho onslaught came with a rush and Its Intensity fairly shook the big stone building which houses the Board of ff Trade Trado Tho The market had been running along In bullish channels for a couple of hours after the ng Bartlett Patton A w Vera wern ro seil Ing the May futuro future and other big bulls like James A. A RankIn Art Cutten and Z Brousseau for tor themselves and their Canadian customers were following suit sull Th The shorts were buying It and the volume of or sales ha had mounted up from Crom bushels to to 6 at rising figures when suddenly suddenly suddenly sud sud- denly came the crash Drops Five ri C Cents Messenger boys boya had bolted bolted oven messenger boys bOS hurry at the Board 1 of Trade Trade Into Into the center of the crowded pit with telegrams rams from flom Winnipeg Sheer drop of or live five cents a n bushel In InIa May Mav Ia v they read That was tho the bomb It fell rell Into a powder rifle lne which had been created by by hn the announcement of or Patton Patten on Wednesday Wednesday Wednes Wednes- s- s day that he Intended to soli soil out hl his holdings of May Iny A blue uniformed watchman sitting drowsily at the entrance to tho the trading floor noor jumped up with a 0 start Traders In the oats eats and corn pit paused to see what had happened Blase telegraph operators craned their necks over the partitions of or their desks The wheat pit appeared to have gone one mad The Patten Fatten crowd cowd stopped the bear rush by buying bushels much of which was In the July futuro future The fhe wheat sold by them In tho oarl earh was bought by the Armour Grain company company com corn pany Peavy Pea Grain company compan J 7 Rossen- Rossen baum Grain company Logan Bryan Company Waro- Waro Leland and others da that Patten Patten Pat The result of the day was ten got goi at least an embryo corner In July wheat The price of this future broke from flom 1181 down to 1 1141 running running run run- ning up again to 1181 and back to toI 1 I 15 16 The Fatten Patten brokers bought heavily on tho the drop Tho The break breal was not based on any change In the wheat crop said Pat Pat- ten Tho The scarcity Is becoming more pressing Why at Wichita In Sumner Sumner Sum Sum- ner nor county Kas the greatest r wh wheat at producing country In the trie world cash wheat Is now being shipped Into millers mill mill- ers ere at a bushel In carloads In cotton I am as much of a bull bullas as I am In wheat confided Mr Pat Pat- ten Cotton Is Its as good at present prices KB as wheat would be at 90 cents In Texas where third one of or the United States cotton collon crop Is grown there has been no 00 rain for sl six months Cincinnati April 15 The The following letter asking for legislation to prevent prevent pre pro vent int manipulation of the tho wheat mar ket was sent to Con Congressman re Lon Longworth Long worth and Goevel and Senators Dick and Burton today by Simon n or of orthis this city president of ot the tire National Association As As- of Master Bakers The Tue executive committee of ot the National Association df dC Master Bakers respectfully respect respect- fully tully calls calIs your attention to the ne ne ne- farious practice of or wheat gambling a at Chicago We Ve believe this should be stopp stopped d dat at once and prohibited In the tho future Flour being tho the ono one necessity to keep koep the tho body and soul together we deem It a crime against the tho rights of or to permit wheat gambling We re respectfully re- re but firmly demand of or you as our representative to protect ou our rights In the future against sp specula cula- cula tion and manipulation of ot wheat |
