THE WHEAT "CORNER."

Lyttelton Times, Volume CXX, Issue 14978, 26 April 1909, Page 7

THE WHEAT "CORNER."

FURTHER SLUMP IN PRICES. PATTEN’S CALCULATIONS UPSET. United Press Association—By Electric Telegraph—Copyright NEW YORK, April 23. A further slump in Chicago May-July wheat has brought prices 41 cents below the pi’ovious closing prices. Th« “bears” pressed their advantage, emphasising tho fact that the weak foreign markets gave evidence that there was no world-wide shortage. Rapid loss sales ensued, and four houses sold an aggregate of 7,000,000 bushels. CANADIAN SUPPLIES. THE “CORNER” SMASHED. OTTAWA, April 23. Canadian statistics show that there are 7,000,000 bushels at the elevators at Fort William and 5,000,000 in farmers’ hands, both as the balance . f the 1908 crop. These figures upset Mr Patten’s calculations, and the “ corner ” is apparently smashed. PATTEN DENOUNCED AS A COWARD. NEW YORK, April 23. Mr -Patten has left Chicago, and many ruined brokers are denouncing him as a coward.