New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-11-03
GOVERNMENT AFTER
GREAT WHEAT CORNER
Illegal Combination Of SpeCulat-
ors Said to Control 60 Per
Cent of Country'S Supply.
CHICAGO MARKET BREAKS
Department of Justice Collecting
Evidence with View to Prose
cutions-May Seize Ware
house Receipts.

Chicac,. Nov. ANY man or set OF
men buying So much grain that the price
is held out Of line or out Of reach OF
buyers may be considered as acting III
restraint Of trade. That is the basis on
which, i'm the opinion of J. c. F. Merriu'
president of the Chicago Board of Trade
Washington agents are working in the
investigation Of an alleged corner IN
wheat centred al Chicago and extending
from Duluth and MINNEAPOLIS to the sea-
board.
Although saving that no investigation
Of the Chicago Board Of Trade itself is
under way. to the best Of his knowledge
President Merrill tonight said signih-
Cantly:
do know tina. tho federal agents VINO
were in la Sale street TUESDAY "eH IN, ~ -
The Northwestern markets yesteru'lH, NE
makes II look as n the Depar t..eI' =, - -.
Tusficc al Washington considered there was
some understanding between DIE W''S"I
owners here and at other centres. 80 i'l
ss the RCaT0 Of Trade as an oTsdii%"''V-
s. concerned, all is serene.
Rumors were current this evening that
= former stenographer OF the weigh
masters Office Of the board had given
evidence ia the government According
70 rcports. the source OF which is not dis
closed. go per cent of the country's wheat
suopiv is controlled by an illegal COM
bipa,ion or Spectators. and 1GoOO.Wo
bushels of tho total holdings Of the
CLIQUE are i'm Chicago grain elevators.
Threats that warehouse receipts for
millions Of bushels in store here might
he seized as evidence in a conspiracy
trial had a paralyzing effect on Change
to-day In the last few minutes of trad
ing the market broke nearly cents from
top figures. and closed in whirl OF ex-
cited selling. within Il cent Of the lowest
roir. Of the day, 9Jis cents for Decem-
her
statement was made tonight that
IN. Armour Grain Company had per-
fected a deal 10y which millions of bush
els were transferred TO a group of mill
ing interests. the millers. ii was said.
icing allowed to remove the grain from
the Armour warehouses when con-
vcnient one theory is that the govern
mcut proceedings were originally started
with a view 10 heading of such mann
moth transfer.
George L. Marcy. president Of the Ar
mour Grain Company. said:
The government is welcome TO any, in
formation concerning our business Wmcn
we have All any agent Of the government
needs TO do is 90 tell us what he wants ana
we will give il To him II we nave II. As
Il 60. aiZa
house certificates. that is absurd ana un-
founded The certificates are on fle win
the state grain inspector. Inere Is no
necessity for any spectacular seizure
Washington. Nov. 9-An alleged corner
IN wheat. centred at Chicago and extend
ing 10 Minneapolis. Duluth. Buffalo and
Baltimore. by which il is said 60 per cent
Of the country's wheat supply is controlled
has been under investigation by agents OF
the Department of Justice. and the results
may be presented TO grand juries in few
DAYS. The government, il is said, is about
80 ask tho grand jury at Chicago 70 pre-
vent the Armour Grain Company, Of that
CITY. through which, Il is alleged, those
who control the corner operate. from trans
forrinE or disposins Of any Of its ware
house receipts.
II is charged that s. 10000 bushels Of
wheat are being held in the trade centres
concerned.
Duluth Nov. 2-Duluth Board OF Trade
men to-day denied any knowledge Of a
corner in wheat.
Baltimore. Nov. 2.-The amount Of grain
a. Baltimore at present is larger than
usual but it is not regarded as enough TO
SYNDICATE any effort at corne~ The total
so-day was 1851 bushels.
The wheat market here was nervous and
hinsettled Yesterday, owing TO reports of
federal Investigation of an alleged corner.
Prices broke sharply early in the day, bur
rallied on dispatches from Chicago denying
reports Of a corner. Near the close, how
ever selling pressure was renewed. the
December option closed at practically the
sam price on Wednesday.