The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1909-04-16
OTHER STUFFS USED IN MAKING
BREAD BOOMiNG-JAMES A.
PATTEN SAYS MOVE
MENT is NATURAL.
BAKERS THROUGHOUT
COUNTRY PROTESTING
Congress- Will be Deluned With Let
ters and kilograms Asking Legis-
Iature to Stop Gambling in
Necessities of Life --
Bread Going Up.

Chicago, April 15.--Tt was a day Of
tumult and sharply shifting fortunes
in the wheat pit of the Board of
Trade today, July wheat following a
docile advance to a new high level,
suddenly dropped an extreme of Az
cogts. The "pyramidal' fortunes of
the small spectators vanished in a
trice and the day was saved from rout
only by the vigorous exertions of the
bull leader, James A. Patten.
Pstten Called 1t FURRY.
Nothing but furry, Patten said,
but that was after the turbulent pit
had been deserted for the day Dur,
ing the final quarter hour he was a
very busy man. He personally visit
ed the floor of the exchange and di-
rected his own deals. 1t was Patten
against the field, and the final gong
showed that the former apparently
was as mighty as ever. His purchas-
es and those of his followers, togeth
er with the profit taking of shorts,
who lost no time in securing the
fruits Of their bearish daring, caused
a reaction of over cent all along the
line But before this occurred the
hoard of many small spectators mad
gone.
Bakers are Alarmed.
Far from the strife on the board in
the hundreds of bakeries there was
different, although related scene.
Flour had risen and bakers were try
ing TO find out where their profits
we're coming from unless the price of
bread could be raised According to
one of the largest bakers in the city
the price of flour has doubled In the
last six years; lard had done like
wise; milk has advanced 33 1-3 per
cent, delivery charges had doubled
and yet the price of bread remains
the same. Three years ago when
-four prices were on rampage many
bakers soHed their profits by re-
ducing the weight of their loaves, and
the quality of the flour used But it
is said there Is not a further extreme
of economy to which they can go, and
meanwhile they allege that their net
earnings are nil. SO far, however,
no concerted action has been taken
with regard to the situation.
Tornado Hit Pit.
On the board May and July quietly
rose at the opening to new high prices
the former to s1.29A, the latter to
s11SM The July price was the
highest since 1877. when the Euro
pean war exhaused reserves. Patten
bought and sold as usual, mostly buy
ing July and selling May. He is said
to have disposed of 100000 bushels
of his May holdings today and to be
practically out of that option. His
energies are now centered largely In
July. 1t was fifteen or twenty min
utes before closing time when the
selling tornado hit the pit.
Stop loss orders came out in a deluge
ard the bears, stirred by a five cent
decline at Winnipeg, based, 1t was
said, on re.selling by exporters, at
the market with great spirit. July
tumbled half cent at a time to s1.1t
ana lDt tAlItIlt lOSo W dS rs tOiiNSs
May in larger jumps dropped to s1.26.
September, an undisputer new crop
MONTH which had attained s1.0S7s,
declined to s1.05%
Patterns Influence Felt.
Here Patterns purchases made their
influences felt and the close of the
session found July at s1155s and sl15
Il; May s1.27h and s1.275s; Septem
Der sl06A. During April year ago
May wheat sold at an average of 95
cents, and July around IS cents. The
first sale of wheat for delivery in
May this year was made here on
June 90 last at S9A. Since then the
price has risen nearly 30 cents. VITA
the May deal proper to all intents a
thing of the paast the battle royal
will be waged in July
Patten, at the head of an influen-
tial following. insists that July will
be an old crop month, that flour must
be made from the harvest of last year
instead of the new wheat usually har-
vested in the winter wheat belt IN
time for delivery on July contracts.
Unusually unfavoTable weather for
planting last fall is given as the pris-
cipal reason for this belief. Many
influential and experienced traders,
however. do not agree with Patten,
and point to the present domestic Wis
ible supply which is reported by Brad
streets at 6,000.0e0 bushels in excess
Of the amount in sight this time in