WHEAT KING'S FORTUNE.

Taranaki Daily News, Volume LII, Issue 104, 31 May 1909, Page 4

WHEAT KING'S FORTUNE.

"STRAICIITES'r MAN THAT EVER RAX UP PRICES. WORLD'S LOSS. New York, April U. '.Mr. J. A. ratten, the new "Wheat Ivaig," ivlio JH credited wilh having cornered the risible, supply of May wheal, is one of Ike ]rieturcsi|ue figures of the Clncnfco Tioard of Trade. Jl is stated that he wiH nia,k e more limn &1,0W),0U() by his ikv.il,- but he seems to be less interested in the result than any other member of We lioard.

Mr. Pallen is known as' the "straightest" man on the .Hoard of Trade. J.t is said that he has never gone back on a friend and has never broken Iris word. I'or tire*! two reasons lie has the largest 'following of any grain speculator in Chicago, and his followers declare that his judgment is almost invariably correct.

Chicago believes that "Jim" Pattenknows more aiboufwiireal than anybody eke in the world. He can almost see the seed sprouting under flic ground his admirers dcekre, and throughout' his whole career his methods ha-ve been based on sound judgment. He never plunges on chance, and lie declares that tic la-: reduced judging the production of wheat to a science.

He 'las an a,nny of agents sending him reports from the wheat-growing distrrts of America, rand he keeps in the closest touch with the European situauoji through his Liverpool office while he also has a full reporting organisation an Argentina. 22-CARAT CANDOR. Chicago s opinion of Mr. Kitten was ■summed up by one. of flic largest grain ■operators m a. newspaper interview today a.s follows:

'Lite all great generals, .),',„ oss ,. ays jH-carnls fine on candor. 'J'lie outstanding factor that brings him success is his 'inability to lie.

-lie has learned that absolute truthfulness surely makes for strength, and ie always fells hi* nssociiitcs freely What his deductions are and on what thi-y are based.''

.Mr. Patten foresaw the present shortage in the world's wheal crop in Kowniber last, n,utt witlii his brothers <;eorge and Harry and his partner, Mr. ■\). A. Ilartlett, he began to buy extensively for -spot delivery. He Awarded tins grain, and now he is master of the siittratinn, for the aborts who have sold deliiwj- m „* obtain their •gram from hi„i. The market now regards llio incident as closed,"and is taltoig lilllf more interest jn it. It fc a 'matter which now concerns only Mr. Pattern and the shorts.

Mr. Patten, ir lu> is htout fifty-tliroo years old, Uvea most afetcmioiisiy. I[e feiiys he is waiting for the time when lio tan indulge in eight houre' sleep. eMifc •hours' outdoor exercise, two hours' '\vork, and ax hours' jest from ail pliysil-al aind mental effort every day. ' 'k 'an interview to-dav Mr. Patten naid: •

-T am running „ corner. T do not intend toiiilv«>- n i.,-;ms am. further. 1 'uiMuiiaincd i . ,„ t . ~,'io(:if to prevent exponers alripphig groin out cf '.lie UnStcd |f r'had not kept the niiotntipns ~1,,,,-e the export price. 'America would ~„„• ]„, m i n „ r prices than .*!„. j, paying. B „.,"'""' " Il ," 1 '' M"«'-"ti-i«ii is very simple. •Hie jjrowit;!, Jn | ho supply of wheat is Jiot keeping pace with the growth in tl»c world's population."