He referred to Jadwin’s deal in May wheat, the consummation of which had been effected the previous week. Squarely in the midst of the morning session, on the day following the short sale of Jadwin’s million of bushels, had exploded the news of the intended action of the French chamber. Amid a tremendous clamour the price fell. The Bulls were panic-stricken. Leaycraft the redoubtable was overwhelmed at the very start. The Porteous trio heroically attempted to shoulder the wheat, but the load was too much. They as well gave ground, and, bereft of their support, May wheat, which had opened at ninety-three and five-eighths to ninety-two and a half, broke with the very first attack to ninety-two, hung there a moment, then dropped again to ninety-one and a half, then to ninety-one. Then, in a prolonged shudder of weakness, sank steadily down by quarters to ninety, to eighty-nine, and at last⁠—a final collapse⁠—touched eighty-eight cents. At that figure Jadwin began to cover. There was danger that the buying of so large a lot might bring about a rally in the price. But Gretry, a consummate master of Pit tactics, kept his orders scattered and bought gradually, taking some two or three days to accumulate the grain.