The Madisonian. (Richmond, Ky.) 1913-1914, 1914-02-24
GRAIN TRUST QUIZ
RESOLUTION INTRODUCED IN
HOUSE PROVIDES INQUIRY
INTO TRADE BOARDS.
NAMES BODIES IN 3 CITIES
Rep. Manahan of Minnesota Asserts
Bulk of Wheat Crop Is Controlled
by Chicago and Duluth Boards and
Minneapolis Chamber of Commerce.

Washington, Feb 21.-A sensational
attack was made in congress on the
kings of the American wheat pit by
Representative Mammalian Of Minnesota
when he introduced in the house on
Thursday resolution providing for
the appointment Of a special commit
tee to investigate charges of manipu-
Iation of the price Of wheat by unfair
practices by the Chicago and Duluth
boards of trade, ana the Minneapolis
chamber of commerce.
The resolution demands that the
committee inquire whether these three
bodies exercise any unlawful re-
straint or control over the buying or
selling of grain coming to said termt
nal markets from Iowa, Nebraska, the
Dakotas or any other states, or over
the prices thereof" Il requires In
formation also on the use of public
warehouses. terminal elevators, mix
ing and blending elevators, and grad
ing facilities, and all other means Of
artfficially affecting the price of
wheat
ly inquire, sayB the resolution, Into
the ownership and control OF each of
! the separate memberships OF the
above organizations, the Chicago
board Of trade, the Minneapolis cham
Der of commerce and the Duluth
board of trade, with a view to pre-
venting the practices of members Of
the organizations Of selling grains con-
signed to them to subsidiary concerns
or to dummy"
Facts discovered at any time during
the investigation which in the judg
ment of the commattee would warrant
criminal prosecution are to be imme-
diately turned over to the attorney
general for such action as he may
deem proper.
81 am aiming at what 1 consider a
gigantic cinch upon the peoples
bread" said Manahan "The men
controlling these markets and the
grading and terminal facilities are
taking a toll of from two to three
cents a bushel beyond any service
they render. AS we produced 200,-
100000 bushels Of wheat in Minnesota
and the Dakotas alone, that is $4,000
900 graft, figured at two cents on a
bushel.
THE bulk of the wheat crop is in
the control of this combination. For
every bushel Of real wheat actually
sold and handled at least 100 bushels
are both sold in so-called future trad,
ing The expense OF this wheat gam
bling is born by men tempted to
speculate in the pit and by the buyers
of bread. The number of embezzle-
ments, bankruptcies. and wrecks
caused by gambling in wheat futures
is appalling. Congress should act at
once to remove this burden from the
tax of bread and do away with the
whole wheat gambling traffic"
The urgent deficiency appropriation
, bill, supplying deficiencies in appro
, priations for the various departments
for the current fiscal year, was re
ported to the house. The bill carries
a total of $9,639, 397.> The largest item
in the bill is 50 900, 900 for the Panama
!, canal, which includes the work on for
tifications and submarine structures
The postal service receives $2,659, 900
\ largely for the increasing cost Of the
parcel post service. The new commits
sion on industrial relations receives
an appropriation of $4,000 and the
; board of mediation and Cancellation il
: allowed $4,000.