Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1909-04-22
PATTEN IN
NEW MEXICO
Will Take Rest on
Bartlett Ranch,
Colfax County
DECIDED FURRY IN WHEAT
Bears Are Making Raid On
Bulls lnfIicting Heavy
Losses.

Trinidad, Colo. April 22.-James A.
Patten. Chicago's wheat king, re-
ported yesterday to have deserted the
wheat battle to inspect the crop for
himself arrived here today and left
shortly afterwards for Tercio, Colo
RADIO. From there he will drive to the
ranch of W. H., Bartlett, near Yer
mejo Park, New Mexico, trip Of
twenty-five miles. Patten is nervous
and tired and replied shortly to the
reporters who asked his plans. He
refused to answer when asked if he
had been inspecting the crops. He
will spend some time at the ranch for
rest
Bull Campaign Abandoned.
Chicago. H., April pa report
that the bull campaign in wheat has
been abandoned is ahoat. The ques-
ton also arises: Has James A. Pat
ten changed his views" These
questions were current when the
slump in wheat continued today.
prices reaching a point to S 1-2 cents
under the high point last week when
Patten declared wheat was worth
every cent paid for it. Repeatedly
asked if he had a corner on May and
July deliveries. Patten denied he had,
asserting that actual users of wheat
are responsible for the price. Since
then, the market has been declining
in such way that ordinary followers
of Patten are unable to explain. To-
day instead of recovery as expected,
the market opened nervous and weak.
The bears jubilantly pressed their ad.
vantage pointing to the weak foreign
markets as indicating that there is no
Worldwide shortage of wheat Ar.
mOur, who, in a recent interview. up
held the Patten view is reported as
selling in the Liverpool market. In
the Bartlett-Patten Offices. the break
was characterized as a furry" Pat.
tens allies said: "Wait." The eight.
cent decline made big hole in the
Paper profits though no one knows
how much. There has been also
heavy actual losses among traders
whose resources have given out
A further tremendous drive at the
so-called wheat corner today, to many
traders spelled the end of the big
Dull market. July near close touched
! sl.O9 5-S, and May, $1.21.
Patten in Blizzard, E5
trinidad, Colo, April 22.-At the
motel where Patten rested, the clerk
| warned him that it would be danger.
GUS to attempt the passage from Ter
clio to the Bartlett ranch, because
blizzard was raging. Il don't care"
replied the traveller, 81 want rest and
I'm going after it," The stage can.
not reach the ranch before night fall
and the roads are dangerous because
OF tremendous iandslides. !.
Patten was heard to remark that
his statement regarding the wheat
crop was correct despite the official
reports of Secretary of Agriculture:
that unless heavy rains came by Nav
| the crop would be deficient and that
all along his route he observed the
wheat turning brown already as if.
| smitten by the drouth
| Million Dollar Losses.
Chicago, Ill.,. April 22-Four prom
1nent houses are said to have sold an
aggregate of seven million bushels
during the day To stop loss, orders
poured in so fast that brokers seldom
could execute them within 3-4 of
cent of the price aimed at. The
weeks decline has wiped out nearly
a million dollars profit, and not all on
paper either. Many brokers long
on wheat, but who waited for higher
price, are bitter. Much blame is
placed on Patten for leaving the mar
ket before the bull campaign reached
safer stage.