The Thibodaux sentinel. (Thibodaux, La.) 1905-1912, 1909-04-24
wheat keeps 'EM GUESSING
Question of Wilson or ]. A.
Patten Estimates
PRICE OF may Will FLUCTUATE
SOvernment Figures Present one
View and Ball Leaders Another.
Only Actual May Delivery Can
Determine Price.

Chicago.-After memorable
speculative week the tickers "good
night" was received with a deer
sight of. relief from board of trade
men, not to mention an army of lay.
men drawn into the vortex of the
wheat pit by the publicity given Jas
A. Patten, the bnll leader and hfs
following. Good night meant a
day and a half for quiet reflection
on the great problem of the season
Will the public eat this years OF
last years wheat three months
hence?
Mr.. Patten personally left the mar
ket to it's fate, which fate, from the
view Of the Patten crowd, improved
considerably as prices advanced over
cent on May and July option. Mr..
Patten paid his respects to Secretary
Of Agriculture Wilson, declaring
that the latter's estimate of avail
able supplies is joke, and lectured
reporters, who he alleges have been
more entertaining than accurate in
their stories.
AS to talk of removing the tariff
on wheat as slap at manipulators,
Mr.. Patten was for it.
TIN in favor of removing it right
now as we will have to do it in
side 10 years anyhow. 1t wouldn't
influence the price Of wheat
penny for the markets of the world
are on parity right now, take off
the duty on corn, oats and live stock
too, for it will not be long before
we have to import them. I have
said this before and Jim Hill has
been preaching it to the farmers
along his railroads for the last three
or four years.
"As to Mr.. Wilson, he is absolu-
tely incorrect. There wasn't 49,
100000 bushels on farms on March
1. 1t was nearer 100,000,000 BUSH
els. My Information is better than
his and I know what I'm talking
about. But don't take it from me-.
Go to any big trader who pays out
his money for his information with
which he risks his capital They
say have a corner in wheat i
have not The wheat / have wouldn't
feed the world for one day..
The weeks place III speculative
history is due to the practical pas
sage of the SO called MAY deal''
and the active engagement of bulls
and bears all along the line concern
ing the proper price of July contracts
for wheat.
From this time on, the price of
May is likely to fuctuate erratical-
ly, but it is said there will be little
trading In it. The bears admit that
Patten won in that struggle and that
he is arbiter of the price. However
few settlements of this delivery, it
is said, remain to be made The
price during the week ranged be-
tween $1.25 3-s and s1.2S 7-S and
closed today at s1.28 Is. July, |
which went to s1.14 3-S under tre-
mendous pressure on Thursday clos
ed today within shade of the best
price of the week-s1.1S 3-S.
Whether this price is too high or
too low cannot, of course, be told /
until after the May delivery is over.
Both Mr.. Patten and Secretary Will
son have said time will tell. But
The time will be two months from
now The fight between the oppos-
ing factions will be the most exciting
aver in the history of the board of
:rade no doubt. In the aggregate il
will be waged between those who
believe the accuracy of the govern
nent reports and those who pin
heir faith to the Patten view.