The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1909-04-19


cipitated the worst slump the
wheat market has sustained In
several days. May broke nearly
two cents to 126 "a and July
broke "a cents to 1t6 Ia Corn
was strong, advancing to 70 "a.
Oats also showed strength.
At the close Patten, Armour
and other big bulls supported the
market, but the earlier advance
was never recovered. All wheat
futures closed weak near the
days low level.
CHICAGO. April 19.-Declaring that
he has been made the scapegoat and
that the public has persistently re-.
fused TO be enlightened regarding the
present wheat situation, James A. Pat
ten today announced that he would
no longer take the public into his con-
f.dence. There will be no more in
teIviews. he said. He also referred
sarcastically to the ministers who yes
terday ventured to denounce him from
their pulpits.
The fact that man is preacher,
he said, doesn't give him common
sense. II II did. everyone would be
going into that profession. At least
nearly everyone, because nearly all
need common sense.
I'm the scapegoat; that's plain.
Well. let it go at that. / live by con-
ditions as | find them. Those condi-
tons were made before | got here
and / am not to blame whether they
are good or bad. I speculate In wheat
just the same as anybody else specu-
lates in merchandise.
Il have tried TO make the-public un-
derstand through the newspapers, but
IL refuses TO be enlightened. Besides,
the newspapers have grown so fhtru'
sive into my affairs that they have
photographed me at home. photo
graphed my house. my children and
my dogs, and they persist In waking
me up at midnight with senseless
questions and don't give me chance
TO think or rest.
YESTERDAY | went to church, as
have always done. When came out
there was long line OF men with
cameras at the front door waiting for
me. suppose they will print my pic
ture now and say | go 10 church on
Sunday, put plumber the public on
Monday. That's going too far and l
won't stand for It. No more inter-
views
7 c F. Merritt, vfce-presiaent oil Tho
hoard OF trade. issued statement de-
clarine there is no wheat corner.
THE corn supply has Increased a
billion bushels" he says. That's the
only thing that has prevented famine
prices and perhaps an actual famine
in wheat floor. If shortage In the
corn crop corresponding to the snort
age In the wheat crop should occur
simultaneously with wheat shortage,
the nation would confront an actuai
famine in breedstuffs -
All Chicago was at the ticker th's
morning. eagerly watching the wheat
market May and July wheat opened
IA under Saturdays closing ngures.
Thie was reflection of the lower
Liverpool markets.
Al this lower price Patten ana AT
mour bought freely. especially july
and both July and May rallied Sharply
tho former TO III rs and the latter 70
1os1.o At these higher figures rat
ton sold considerable May but CON
timed 10 buy July. AT neon, however,
there was a sharp break OF nearly
TWO certs in both July and May. fa,,
ton hought freely though and starteu
the market up again. =,
Unless something happens soon y
cbanpe the wheat and -four situa'ion
ond 70 reduce their prices, bread VIII
not only go to seven cents ioa,; uu ~
eaveral score more bakers VIII oe
forced to the wall. Fifty have a'reaos
closed their shops and as many "'"e'
are near the breaking point.
This was the statement toaay Vi
Matthias Schmidinger president or ,he
Master Bakers association during 'nc
discussion OF a case now pendihs, III
The supreme court through when the
city weigher seeks to compei th',
bakers to keep the weight OF pie"''
loaves at 10 ounces.
THE price OF bread must so up
said Schmidinger. The increase III
the nrice of -four and the strict en-
forcement OF the sanitary regulations
of the city have already driven %
email bakeries out OF existence.
eve bakers have come % the poih'
where we have got t. raise the price
IN live All OF Us are losing money
daily owing to the presen; SITUATION
which | ascribe wholly to the opera
lions of Patten in going ort AMI ouy-
inc nm the wheat