The Republican. [volume] (Oakland, Md.) 1877-current, 1909-06-17
.PATTEN AND HIS RE-
CENT CORNER IN WHEAT
His Wife Caused Patten To Let Go
and Wheat Dropped.

declare that Mrs. James Patten,
wife OF the man who so successful
ly cornered May wheat and was de-
clared to be engineering a move
ment in July grain, caused the
cereal king to let go the market
and allow it to break because she
could not Conscientiously let her
husband boost the staff of life out
side the reach of thousands of poor
people. So plain Jim" Patten
went to New Mexico "for a rest, "
he said, land to get away from
you internal reporters,
The monarch of the chief grain
pit stayed in New Mexico for a
long time. He said he wanted rest
and to all appearances he got it,
or he returned to the STRIFE in
Chicago with a bronzed skin, clear
eye, and with the Patten smile
which is the market index on the
Chicago board of trade. He was
cheerful to his associates, but to
the reporters--no. He seemed to
have taken a dislike TO them, de-
spite the fact that hitherto he had
exhibited a fondness for newspaper
men.
The May wheat dropped. But
with the return of Mr.. Patten, the
July edition of the grain began to
soar and the word went out that
the corner was on in that months
grain, the May delivery having
been effected.
Think of putting an average of
s., 900, 900 into the bank each day.
while the Patten firm was closing
out its May wheat That is what
Jim Patten did and before news
paper reporters became too PERM
cious in their activities he would
occasionally talk about it. In fact
he seemed to like to talk. But
when the great city dailies began
to jump upon him editorally and
when Secretary of Agriculture Will
son declared that there was no
reason why May wheat should sell
at $3.50 per bushel, because there
was lots in the country, plain Jim
Patten got mad. Thereafter he
talked--but only in monosyllables.
Before adopting the sphinx atti-
lude he gave the writer a long ill.,
terview, the gist Of which is as
timely today as the day he gave it
out. 1t follows.
Pm only a farmer rube. I
don't know anything but wheat,
out man, I tell you, I know wheat
from the start, Corner the mar
ket? No There is not a man
alive who can corner wheat. Itell
you it is an impossibility. The
idea that my movement in grain
sent prices up is absurd, The
price of grain, as in everything
else-you know it as we'll as I do
is gagged according to the law
of supply and demand. The reason
wheat went higher than ever be-
fore is simply because the country
is short on wheat. The United
States bureau of agriculture says
here is plenty Of wheat? Well,
ley don't know the conditions.
IY correspondents throughout the
ountry are trained men who get
ght down to earth when they
eek information. Postmasters
I'd a farmer here and there COM
rise the staff Of Secretary Viii
ons forecasters. The high price
.fwheat had little effect on bread |
rates. Bread would have been
high anyway, because there wasn't
enough wheat. Lots of that price
increase probably went into deal
ers' pockets anyhow. But once |
for all, let me tell you, no living
man can corner wheat"
When the careful housewife was
figuring up the cost Of the grocery
bill and she pointed out to her
husband during their discussion of |
household economics the item ga
pound bag of flour, 90 cents, " he
said; "What--hour gone up"
eyes, that's what the grocer
said Patten has 'COrnered' the !