The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1909-04-22
Traders Say They Are Hesl9n'ns to
Believe Wilson, Not Patten, is
Right Regarding the
Wheat Crop.
BIG SLUMP IN JuLSsssgsAsHEs IA WITH ALDR1cH
JuIy Wheat ,slump.d No %
Cents on Early Ts at
ten Enroute to g rado
to Visit a Friend.

CHICAGO, April 22.-July wheat
nearly two cents during the
first fifteen minutes of trading today.
It opened at s1.13A, dropped to
s1.12M, then to $1!11%. May and
September were also weaker.
May wheat took drop to $1.22b
At 1915. Bears were trading furious
". taking advantage of the absence of
Patten from the market. While Pat
tens brokers went into the pit, at first
buying July, they were forced to
change the tactics, and sell, when
futures started to slump. Traders say
they are beginning to believe Secre-
tary Wilson is right regarding the
wheat crop, and not Patten. Reports
from the Ds '.otas indicate a good
growing crop. This influenced the
market greatly, together with favor
able cables, forcing the prices down.
Patten Enroute West.
HUTCHINSON, Kan, April 22.-
James Patten passed through here to.
day on the Santa Fe on his way to
Trinidad. Colo. where he will go to
the ranch of friend, few miles out
Of the city. Patten refused to see
newspaper men since he left Chicago,
where 1t was announced he was start
ing personal investigation tour OF
the wheat belt.
Patten told friends here he had no
intention Of personally investigating
tie condition of growing wheat but
was merely running away from news
paper men.
Lively Day In Cotton.
NEW YORK, April 22.-Despite the
fact it is definitely known that James
Patten is en- route to Colorado for
rest the New York cotton exchange
had a lively day today. Rumors that
Patten was hiding in down town no
tel and that he was preparing to cor
ner the cotton market set on foot, re.
suited in frenzied feeling about the
exchange. The reason for this de-
veloped later and was that the firm
Of Bartlett-Patten have been big buy
ers of cotton. 1t is said that they
put S5500O00 into the staple during
the last few days and that they were
planning to corner the market. At the
offices OF the firm this was denied.
We are buying, of course" it stated,
but simply because 1t is good buying
at the present"
Why Patten Left.
CHICAGO, April 22.-James Patten
did not leave Chicago to study the
wheat situation, neither was the pri-
mary reason to escape newspapermen.
Pattens departure was due to the fear
OF his friends that any further stay
IN the city was dangerous, because of
the alarming number of threats made
against his life
Ihls announcement was made at
fatten's office today Patterns pres
ent heat deal resulted in +remend-
GUS Increase in the number of begging
ana sfeatening letters addressed to
nm. AT first the letters merely
warned the grain king to look out
put recent letters were all anonymous
ana made open threats that he would
pe Killed If he kept up the price OF
wheat and -four bread Several
.areats were made that he would be
Miied with bombs, which alarmed his
ifiends Patten felt keenly the public
vriticlsm and believed he was unjust
" blamed for the condition of the
market. The criticism worried him
more than anything else, and several
uays before his departure he showed
.'shs OF such nervousness th.t it was
leafed he would break down. When
'ne bomb throwing" letters began tc
arriye his friends, fearing he would
suner violence If he would appear
ABOUT the office, prevailed upon him
y get out of town as soon as possible
Wheat Still SIumping.
buying wheat decreased somewhat
uat the Patten interests are credited
WIN unloading an immense quantit,