THE WHEAT GAMBLE.

Rangitikei Advocate and Manawatu Argus, Volume XXXIV, Issue 9460, 1 June 1909, Page 5

THE WHEAT GAMBLE.

PATTEN’S PROFITS

United Press Association.—By Electric Telegraph.—Copyright. New York, May 81.

Mr Patten’s position was so strong that he could have demanded five dollars a.bushel from those who were short of May wheat. He accepted 134 cents., and| cleared £300,000 sterling profit personally, ■ and his associates £300,000. Mr Patten gave his employees a bonus of 10 per cent, on their salaries for the year. The Times’ NeW York correspondents report that most of the losers were professional speculators. In the opinion of many Mr Patten’s contention that there is less [wheat in the world than is generally believed has proved correct.