The Montgomery advertiser., 1909-04-16
WHEAT PIT EXCITED
EATEN coNTINg.g 10 BUr ON THE
Day anA Prfcss Topplea But etcodled Toward the

NIDuO.
 fN
 Chicago. April tt.--rhe purchases of James A, Patten and immsdists associates during the final fifteen minutes of today.s mated at s,oeo.ooo bushels of May. July and September wheat. whe.s 5ulls received . setback when , ssn extreme 4xc: May shc and September
 Patsn bought furiousiy all along the line something over cent.
 shs srowins c crop I isS to ase ss.ady % selling of September which was further encouraged by Sc drop at winnipeg. where 1t was re- chased for the European market The
 Prices here. however. with the exception May and Juiy both sssablished new high records, thus maintaining their record Of vhayins risen consistently to new high unisn sailaiss. ~seisin sis ar. situated the trader, trader the r sound n of a hish pitched voice talking into telephone could be heard:
 Buy . hundred July. Buy two hundred Tn the veynaculaf of the trade, "hundreds' means hundreds Of thoussnds.
 A small crowd hearing the voice. gath
 "Pattsn's supporting 1t. He's trying to check the slump ran the comment.
 oyer ia tss ,srs.Isns p,, the high pr'sss ySass then rebounded- But the loss was anything but completely recov- cred. fespite the voice crying. Buy buy
 May being at the close sold at t1.s7h9 x; July at q l.l5H@s and septemSer, ,a at from from, las. night of iSiHe for May; aNo for July and 2 2s-8 xc for September.
 MT. Patten stated that his position as to since his interyisw. with the Associated Press yesterday in which he justified nisher prices by the law of supply and demand.
 REVIEW OF MARKET.
 Chicago. April 1s.--Wheat prices broke from axe to 4%e per bushel on the Board of new high record inarks for the season for May and July deliveries From Il. Ssh the price of May dropped to si 2s. while showed showed . IT net loss for the day of Ie1kc to 2k9sKc. Corn and oats closed easy and
 ted break in wheat prices came today and was the occasion Tor one of the widest scenes ever witnessed on ,sIa the pressure on the September delivery through out the day resulting in considerable weak ssr in sns ssy ss, which was In urgent demand by shorts. It was not until the final half hour however. that the bears tUECDS0EQ Il the defense of the bulls. An avalanche of selling orders carried prices down precipi. tately. declines of Nc being registered
 From sI. 2sN, touched about midday. the May option dropped to $1. zs: July wnicn earlier in the day had established new record at y1 .1SN. declined to s1 .14h, while September sold off from s1. osN to $1 .os Y. On the break the leading bulls came to the rescue and bought without rsseryation Srur- anr. close to the Patton interests declared that the purchases of the bull leaders during the SHa Co bnsss. mosy uf tSs suy that it was impossible to follow accurately had 10 be cancelled owing to the sensational fluctuations. The efforts of the bull leaders to stem the recedins tide was successful 10 the extent of an advance from the pot tom of more than 1c in May and July. but the September delivery showed little rally
 Excitement In the pit was still of the high est pitch when the final gong stsaea rssoanasa S1 Msy wsrs sss,.S.r ss s eos.d @ aae at
 The corn market was strong at the start because of the continued small receipts; leading % pcommissson houses. Later. howev- err continent became bearish owing to heavy selling of the deferred futures. credited to ssIs ss.eS sHs weak al at aSoSt tRs previous prev close. Finai quotations in May were at 6SAo. 4ss .r. .
 Oats displayed more firmness early in the day than was manifested in corn, De- cause of buying due to unfavorabie weather for seeding in various sections of the coun- try, but finally yielded to realizing sales oy local longs. The greatest pressure was on the distant futures, which declined nearly fc from the top. At the close prices were a shade higher to %c lower. :.
 Provisions were weak nearly all day; on realizing sales by a prominent local holder. A ten cent decline In live hogs had de- pressing effect. At the close prices were 5916c lower.