The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-04-18
Nd SIGNS OF A
BREAK IN THE
WHEAT CORNER
lanes A. Patten and Secretary
Wilson Each Have Some
thing TO Say.
FORMER SAYS LATTER'S
FIGURES ARE WRONG
rveRYBoDY AGREED ON PRoPo-
slTtoN THAT CONSUMER THE
CHIEF SUFFERER.

& Paris April 11.-Dispatches re- =
4. ceived from Constantinople state =
= that the situation i'm Adana has =
4 bec0me very much worse, that a =
:. nrTr1 her of cities have been burned ::
. and that Tarsus has been almost =
:: plotted out The dispatch further =
!! states that a French factory has =
q. bseu sacked, and that the peasants =
= are coming down from the noun =
q, tsins and massacring the Armen- =
> ians.
49,: = :. :. :. :, = = = = = = = =
Chicago. April 17-After a memoir
able speculative week. the ticker's good
night was received at noon today with
a deep sigh Of relief from board Of trade
men. not to mention an army of lay
men drawn into the wheat pit by the
publicity given James A. Patten, the
bull leader, and his following. Good
night" means a day and a half for
quiet reflection on the great problem
Of the season, will the public eat this
ears or last years wheat three
months henceg"
Today Mr.. Patten personally left the
market to its fate, which, from the view
Of the Patten crowd improved cOnsid-
erably, as prices advanced over a cent
in May and July options. Mr.. Patten
paid his respects to Secretary of Agri-
culture Wilson, declaring that the lat
ter's estimate Of available supplies is
a Joke, and lectured reporters, who he
alleges have been more entertaining
than accurate in their stories.
The Tariff on Wheat.
As to talk of removing the tariff on
wheat as a slap at manipulators, Mr..
Patten was for it.
I'm in favor of removing il right
now, because wen have to do so inside
Of ten years at any rate. IL would not
affect the price of wheat a penny, for
the markets of the world are on a pari-
ty right now. Take OF the duty on
corn. oats and livestock. too, for IL will
not be long before we have to import
them. 1 have said this before. and
Jimmy Hill has been preaching il to the
farmers along his railroads for the last
three or four years.
As to Mr.. Wilson. he is absolutely
incorrect. There was not IA. 600. 900
bushels on farms on March I. 1t was
nearer 100, 600. 600 Ny information Is
better than his. and I know what I'm
talking about. But don't take it from
me; go TO any big trader who pays out
his money for accurate information on
which he risks his capital They say
have a corner in wheat. I have not.
The wheat I have would not feed the
world for one day"
Patten Won in May Deal.
The weeks Mace in speculative his
tory is due to the practical passage Of
The s0-called May deal and the active
engagement of bulls and bears all along
The line concerning the proper price for
July contracts for wheat. From this
time on the price of May wheat may
huctuate erratically. but it is stated that
there Will be little trading in it. The
bears admit that Patten won in that
struggle. and that he is arbiter of the
price. However, few settlements Of
This delivery, it is said, remain to be
made
The price during the week ranged be
tween N-252s and s1-2Sss. and closed to-
oay at Sl2S1s. July, which went to
N.-fs under tremendous pressure on
thursday. closed today within a shade
OF the best prices Of the week-S1. ISIS.
whether this price is too high OF too
low cannot. of course. be known until
me time for delivery on contracts. Both
secretary Wilson aud Mr. Patten have
remarked that time will tell" and
-le i'm the present instance means
The two months and a half from the
present That the fight between OppOs-
e interests viii he one of the most ex-
.lng in the history of the board Of
.fa'e no one doubts. In the aggre gate
D. NII be vaEed between those who be-
-e'e Iu the accuracy of the government
Continued on Page 2.