The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1909-04-22
NO FIGHT ON PATTEN
ATTORNEY GENERAL UNDECIDED
CONCERNING THE CORNER
ON WHEAT.
FLOUR AND BREAD GOING UP
Representative Scott Of Kansas Intro
duces a Bill in the House Penaliz-
ing the Gambling in Futures on
Grain.

Washington, Apr. 16.-Attorney Gen.
eral Wickersham has done nothing
about the wheat corner in Chicago
and will not until 1t is called to his
attention officially. He will not say
hat he will or can act even under the
circumstance At present no petition,
protest or complaint has been filed
with the attorney general, and there
Is no disposition in the department to
axe initiatory steps.
Mr.. Wickersham returned to Wash
ington from Philadelphia yesterday
afternoon. When asked about posi-
BILE action TO stop or regulate the
manipulation of the wheat market he
laughed and said he knew nothing
about a corner except from newspaper
report. He declined to discuss the
subject further.
Difficulty In Discriminating.
The difficulty of discriminating be-
tween the dealing in futures" legiti-
mately and for the purpose of specula-
ton was explained by an official in
this way:
THE trouble with handling such
hngs by law is that II is impossible
TO determine what is legitimate and
what is merely gambling operation.
The cotton manufactures in Manches-
ter sells his cloth all over the world
lie has to sell 1t for delivery after II is
made. To be assured of the material
with which to make IL, he places an
order with New York or New Orleans
cotton brokers for a supply OF cotton,
contracting to take certain amount
each month, and agreeing on the
price.
This man Patten deals In real
wheat; the way corner Is broken Is
| by the delivery of actual wheat In
such quantities as to swamp the opera
tor. There is difficulty about framing
a law to prevent man buying up all
the wheat in the country, If he wants
| It; there might be some means OF
p. evening him manipulating the price
after he gets It all, but the processes
OF nature ordinarily end the trouble
quicker than those of law could
do It,"
Representative Scott OF Kansas in
| troduced in the house his bill to pen
alize gambling in futures OF grain.
| This measure is designed to prevent
the possibility of such corners or
manipulation OF the wheat market as
that now being conducted by
Patten.
The bill provides that It shall be un-
| In u,P,,I for anv naroOn or acanniatin
TO transmit by telegraph, telephone or
otherwise any contract for the sale OF
grain or cotton unless the contract
calls for the actual delivery OF the
commodity. There are heavy penal
-ties for the violation Of this section
other persons contributing to this pro
cedure are penalized in the bill.
1t was referred to the committee or
agriculture.
To Raise Bread Prices.
Kansas City, Mo-, Apr. 16.-"A
smaller loaf Of bread or dime for the
present size" This is the declaration
of the Consumers Bread Company. ar
organization of bakers formed here
several months ago and including
practically all of the bakers OF Kansai
City. B. Howard Smith. president o
the company, said the wholesale price
of standard -four had risen 40 cent
hundred pounds in 30 days.
New York's Poor to Suffer.
New York, Apr. 16.-With -four III
40 cents a barrel in the local market
, and the prospects apparently good TO
a further rise. New York city is nov
facing the possibility OF bread a
savAn cents n loaf What will aDnea