Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1909-04-22
Further Drop to 8 Cents
Below High Mark Of
Last Week.
BEARS ARE JUBILANT
Leader of Campaign Admits
That He Is Hurrying Out
of Range of Press.

Chicago, April 22-Has the bull
campaign in wheat, so far as the pub
lie is concerned, been abandoned?
Has the bull leader, James A. Pat
ten, now reported on the way TO visit
a ranch friend in Colorado, changed
his views?
These, and other questions unthought
of week ago. were rife today when
the slump in wheat continued, prices
reaching s TO Sh below the record
price of last week, when ratten de-
clared wheat worth intrinsically every
cent being paid for it.
At High Point Week Ago.
Just a week ago May sold here at
$1.29 IA and July at S1.1S rs. Since
then the market has been declining II
way which ordinarily followers Of
Patten have been unable to explain.
Today instead of the recovery expect
ed after &C cents decline Tuesday and
Wednesday the market opened az
tremely weak. At this the bears jub-
ilantly pressed their advantage, point
ing weak foreign markets as indica-
tive of the incorrectnesS OF the bear
view that there is no world vile short
age of wheat.
Deny Campaign Is Over.
Stop loss sales were numerous.
In the Bartlett & Patten offices it
was stated there was no reason 10
change any statement previously made
by Patten. The break in prices was
characterized as furry. Some hold
ers. it was declared, were unloading
frightened at the decline or because
their resources were insufficient TO
maintain them in the market.
Big Hole In Profits.
The s cent decline made big hole
in paper profits. although to what ex-
tent no one can say. There have been
heavy losses among traders whose re-
sources have given out and their
trades were closed.
Ends In Big Drive.
A further tremendous drive at the
so-called wheat corner today to many
traders spoiled the end of the big bull
movement. July near the close touch
ed $1O9 5-S and May s1.20 ga. May
closed at $1.2l and July at S1.09 rs
at $1.10.
Sell Millions of Bushels.
Four prominent houses are said to
have sold an aggregate of 100000
bushels of wheat during the way. The
weeks decline is nearly cents with
millions of dollars of profits, not all oi
it paper Justly. or unjustly much
blame is placed on Patten for appar
emily leaving the market to itself be
fore the bull campaign had reached {
safer stage.
Decline In New York.
New York. April 22.-The New Yorl
wheat market dropped rapidly today
prices at noon being 8 to 312 cent
lower than yesterdays closing. Th'
decline came on heavy selling, som'
attributed to Chicago interests.
Has Hard Trip Ahead.
Trinidad. Colo, April 22.-James \
Patten, Chicagos wheat king, arrives
here today and left shortly afterward
for Tercio, Colo, near the New Mex
can line From there Patten will driv
overland % miles to the ranch of W
II. Bartlett near Vermeke, Park, N n
The trip will not be a pleasant one, TO
a binding. snow storm is prevailing &
day. Patten appeared tired and e,
tremely nervous and was not in tn
best of temper when approached by
reporter.
"NOne of Your Business"
None of your business" was tn
answer to a question as to his missio
in Trinidad. I've been haunted
death by reporters for weeks" Aske