"STRATGHTEST" MAN'THAT EVER RAN UP PRICES.

Poverty Bay Herald, Volume XXXVI, Issue 11864, 31 May 1909, Page 5

"STRATGHTEST" MAN'THAT EVER RAN UP PRICES.

, NEW YORK, April IA. | Mr J.. % A. Patten, tlie ntyivv "Wheat I ':'J_ing,V who is credited with having cornered, thef '. visible supply lof 'May 'Wheat, is orie of ; the nictUresume figures of the Chicago Board" of TnV<le. It- is stated that he will make Ip/or, f than One millioh; pouiids by hi-i deal* but 'he seems Vto be less 'interested m the result tlwn any qlher member of theij board. " ■ „ Mr Patten is known as the ■•straight - est" man on the Board of Trrtde. It is Said that he has never gone hack on a friend* and ha-i never brPken his word. " Fbi* these two reasons he jfhas the ' largest following, of aavy grain speculator Yin Chicago, and his followers declare that his judgment is almost intfariably^ correct. ; ! , " ' Chlcagp believes that "Jim" Patten knows more about wheat than anybody •elsti,' m the world. He can almost 13*60 the seed sproutin-j; under the, grouiid, bis admirers declare, and throughout? his /whole career his methods have been based on sound judgment. He never plunges. on chance ; and he dsc|ares that he has reduced judging the production of wheat to a science. V .

Y'.-He has ap ;army pf agent^ sending hina. reports, 'from the wheat-growing districts pf America', and he keeps m the closest touch with the lEurppeaii situation through his Liverpool office, while he aldo has a full reporting organisation m Argentina. " 23 CARAT CANDOU-L i yClucago's opinion of Mr Pafcten was suirhnibd up by one of the largest grain pperators in'a newspaper interview as folldws:-^- f , • , ,"I_ke all, great generals,' Ji*jh. assays 22-carut fiiife on candpiir. 't'he outstandirig faptbr that bring.--; hitji success is. liis* inability to ftell ' a lie. Ho* has learned -that absolute truthfulness surely Sokes for fltfeiigtju and ho always tells sf' a^soq^iites freely what his deductions are md ,011 what they are' based. Mr Pjatten yfprewvw' the present shPrtage, m tue Worid'^ wheat crop m November, last, and with his brothers Oeorge and Harry and, his partner,: Mr W. A. Barile-tl,. ho begiin^ tp'lbily extensively for "irjpot doliVer'y.. He hoarded this grain, and now »-',,[s piaster of :tha situation, for the lioi-ifi who hav£ -sold for -lay 'delivery miijst obtititu f their gmin from him. Tlie market . iibw Regards the: incident as closed, afiu* is taking little more interest jn it. It 13* a matter which now concerns Mr patten wid -the shorts. Mr Patten, who is about 53 years old, lives, 'most' absteinioiisly. He says he is waiting for thb time 1 when hey, can indulge m e^ght hours' -sleep,' eight hburl*' puMopi* exorcise, two Jiours' work, and si? hours'' rest from , all physical and mental .'effort every day. Y',ln an interview Mr Patten said : "I 'am '.'not running a corner. I do .hot intend to -advance prices any furtherY I maintained the present quotations to prevent exporters ahipphisj grairjiyoUt of the United ' States. If 1 had hot kept the quotations above the export price. America' would now be paying hip-her juices /than she is paving. Th 6 whole question is very simple. The! growth m the supply of wheat is not keeping ,pacfe With the growth m the World's population..'*' . . ' : _m_— ___——_— —■