Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1909-05-04
THE -eorsSERIsG or Wheat.

TRs syisdcs5i 81 the ss,or!a thus far has
,ieyetj d q means whereby govern
meats can segulats the prices Of even
1 d I'd common reeessitis Of life.
me recent 'scorrering of the sheGt
stsa.k et ii, Chisa go th;ough the pur-
chase sf an ne ayaila bic supply BY
certain, sr.ec,.l atois, followed by q del De-
sidsH rise il the price Of wheat I.ls4 4. and
-four. rs III phenomenon that has att
traersd the attention and excited thss
VI, OF tha civilized world.
7,ie manipulation Of the wheat spec
rs,rs is quite. generally denounced IS
+. grs NE. TINS. chief operators III these
/ t5sasi ms ~ d Mr.. James a. pattea q
sssS chicago grain pit, Who has bought
nss "a "a, 80 go s,;,slssis 70 be delivered to
HI o.as.. IN May This Is practically
enc sixth OF the wheat crop OF the Unit
III States The present holders of
X heat dare not sell nov, or they may
& fs.sl. to DELIVER according TO their con-
traess With ar. Patten in May. The
result IN t.aas the wheat is lying lido.
ii elevators for weeks and for perha ps
SOCRATES closed most of these agrees
ii,e,,ts iast winter The mills cannot
;.ri.,a this wheat, and -four has there
" fp-a i'd vanced In price al least 81 a bar
l.ei ia the great centers Of population.
Thu sizs4 of The bread loaf has been re-
,lgised. and The loss is falling upon the
consumers Of bread.
,fert,
AZ Ser bust1el in Chicago, and s1.3S In New
York Some fears are entertained that
prices VIII advance till a bread famine
may result Predictions Of $50 wheat
IL New York are made freely.
on March 18th Of this year, the gov
eminent reports showed l4ssa2ooo
baskets Of wheat in the hands Of farm
ers. The price Ds wheat upon this
encouragement. fell seven cents per
i,ushel. OF % cents lower than the re-
cent high prices.
Mr.. Patten argues that il he and his
associates had not bought up the wheat,
foreigners would have done so, and the
price would then have been higher
with US than it is today since In that
event he claims 1--WE would have been
compelled to buy from the very Euro
peans we sold to- lie Regards it rs
fortunate that it was Americans who
Z first iagnosed crop conditions and took
advantage OF thanl-not for the sake of
philanthropy but for tho making of
legitimate profits. He denies any mani
puiatioI, OF the market. Here Is his
expianation:
FOR three or foul. years tits has been
GINNING. and !! saw it. All the end Of
E aasr crop bins were empty everywhere.
With Increasing population here and
abroad 1t was obvious that sooner OF
IassS the crop of one Year would be
exhausted before q new crop Was III
= Yiang last fail, IL not earlier ] saw
II cc1irls. bought wheat and my
friends did likewise The great utt-
tElinkirg public here and in Europe
could rot or could not gee what was
55 coming LIVERPOOL would not buS
months ago. thinking the prices of thai
day TOO high. NON Europe wants 90
coo bushels. The harvest WIS early
4 sisstst year. It flzss been tTying TO cove.
thirteen months insteaa of the usua
Twelve. and 1t can't do it, We neac
wheat for the mills right here in Chi
eago now
The philadelphia Ledger adds the OK
1ila.fdtion that She exporting price is
not determined in Chicago butt Liver.
pooi, and ttlat when wheat begins 6
soa au Ward prices are naturally equal;
izeSf wheat, 1t says, Is one of tht
greet snedinns of international ex;
change. Geld is the other. Gold !:
rdw cheap, ard not in demand, while
wheat ii dear and IS needed at home
We are consequently exporting golt
ralhar thtn wheat. The prices Of these
cofnineat ti es are reciprocally re
Hated to enc another and the relative RELATIVE
tan III gold is 50 evidently aaso 81 rs
a feiltsIe rise in mileat-.fcth be
s,lprtabiS To- give HES mica g
IS s,e paIseY howe ysf 81