Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1909-04-20
BEARS AND BULLS
SIGH WITH RELIEF
At MARKET CLOSE
Cheers Follow GOOD Night"
Signal on Grain Wires in
Chicago Alter Week of
Great y.;- ETY. to Dealers.

CHICAGO. Ill. April I5.-After a mem
otabIe speculative week. the ticker's
good night was received at noon to-
day with a deep sigh OF relief from board
CT trade men, not 10 mention an army OF
laymen drawn into the vortex of the
wheat pit by the publicity given James A.
Patten. the bull leader. and his following.
Good night" meant a day and half
for quiet reflection on the great problem
OF the season: VIII the public eat this
years or last years wheat three months
hence9
Today Mr.. Patten personally left the
market TO its fate. which fate, from the
view of the Patten crowd. improved con-
siderabIy as prices advanced over a cent
in May and July options. Mr. Patten paid
his respects to Secretary Of Agriculture
Wilson. declaring that the latter's esti-
mate OF available supplies is a joke, and
lectuTed reporters, who he alleges nave
been more entertaining than accurate in
their stories
Favors Tariff Removal
AS to talk OF removing the tariff on
wheat as slap at manipulators. Mr.. Pat
ten was for il.
I'm in favor Of removing II right now.
because we will have to do il Inside Of
ten years at any rate II wouldn't affect
the price OF wheat a penny, for the mar
kets OF the world are on a parity right
now. Take on the duty on corn. oats. and
live stock. too for il will not be long be-
fore we have to import them have
said this before, and Jim Hill has been
preaching II to the farmers along his
railorads for the last three or four years.
las 10 Mr., Wilson he is absolutely
Incorrect There wasn't 100000 BUSH
els on farms on March ]. II was nearer
100. oo0o00 bushels. Ny information is bet
ter than his. and know what I'm talk
ing about But don't take IL from me.
Go to any big trader who pays out his
money for accurate information on which
10 risk his capital. They say have a
corner in wheat I haven't. The wheat
] have wouldn't feed the world for one
day"
Passing of May Deal
The weeks place in speculative history
is due TO the practical passing of the So
called May deal'' and the active en-
gagement OF bulls and bears all along the
line concerning the proper price Of July
contracts for wheat.
From this time on the price OF May
wheat is likely to fiuctuate erratically. but
4 is said there will be little trading in il.
The bears admit that Patten won in that
struggle and that he Is arbiter of the
price
However. few settlements of this deliv-
cry. it is said. remain 10 be made The
price during the week ranged between
SIS s-S and SIS rs and closed today at
G-S Is
July. which went to S1.14 SIS under ire
nendous pressure on Thursday. closed to-
fay within a shade OF the best price %
The week. Sis SIS Whether this price
IS too high or too low cannot. of course.
be known until the time for delivery on
contracts. Both Secretary Wilson and
Mr.. Patten have remarked that time
will tell and time" in the present in
stance means the two months and a half
from the present
Fight to the Death
That the fight between opposing inter
ests will be one Of the most exciting
in the history OF the board OF trade. no
one doubts. In the aggregate il will be
waged between those who believe in the
accuracy of the government reports and
these who pin their faith to the Patten
view.