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Description: Notable Birthdays-James A. PattenDate: May 8 1915
Newspaper published in: Huntsville, AL
Page/Column: Page 5, Column 5
JAMES A. PATTEN, one of the few men who successfully cornered the grain market, and known far and wide for his financial daring and his business strategy, is 63 years old today.
“Jimmy” Patten became a grain operator when he was 28, having worked his way from a store clerkship. He at once attracted notice as a live wire in the Chicago grain market. His great coup came in July 1902, when he cornered the market in oats. This feat, which is said to have netted him a large fortune, is still talked about in financial circles. It recently bobbed again into prominence through a suit filed last November against Patten and others. Two brokers who lost $100,000 through Patten’s corner are seeking $300,000 in the federal courts. Interesting financial revelations are expected at the trial.
Mr. Patten was born at Freeland Corners, Ill, May 8, 1852. He studied in country schools and clerked in a grocery store. He was working on a farm in 1874 when he secured a position with the state grain inspection department. His knowledge of grain brought him close to the big market and within a few years he was soaring to wealth. In 1901 he was elected mayor of Evanston, Ill., and held that office four years. Mr. Patten married Miss Louis Buchanan of Chicago in 1885.