The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1915-01-10
INVESTIGATION OF
WHEAT ADVANCE.
Federal Probe 70 Find Out Whether
High Cost of Flour i the
Result o. Mere
Speculation.
COMPLAINING
Flour Goes Up 20 s7.25 Per Barrel
and the Small Baker FInds
HimseIf Facing
Crisis.
!, t.
COMPLAINING

CHICAGO, jan 9.-The United
States government, through Federal
District Attorney Cline, today, began
an inquiry into the cause back OF
the weeks sensational upward trend
in wheat prices, and the accompany
ing advance In the cost Of -four. At
torney Cline himself made this an
nouncement. He said he Is determin-
ed to learn II there is any conspiracy
to create artificial prices. II he finds
such conditions exist, he will prose-
cute those he believes responsible, to
the laws limit. The district attorney
decided on a thorough investigation
following visits to him this afternoon
by several small bakers of Chicago.
These men told him that the "situa-
ton is getting SO bad that small bak-
ers must have relief or go to the
wall" ]. Henry .Boylin was one OF
the men who conferred with Cline.
The district attorney replied lin effect
that II it Is possible to give relief. It
will be forthcoming. In the mean
time with few exceptions and these
exceptions were some OF very big
bakers whose business Is OF volume
which permits their buying and hold
ing large reserve stocks, declare they
will either have to lower the weight
of the loaf or raise the price. They
probably will decide upon the latter.
In the event either Ii necessary.
Flour today was higher than It has
been since 1909. 4 The price today was
I$7.25 This was raise OF 25 cents
per barrel since last Wednesday.
Pit quotations on wheat today were
lower than yesterday. but still above
prices during the famous Patten and
Letter deals OF years gone by. The
opening on May futures was lower by
nearly two cents over yesterdays
highest figures. Throughout the day
there was a continued fractional recess
sion in wheat for May and July. 9th
er cereals followed SUIT as to prices.
May wheat closed at $1.sSA, July
$I.241s: Possibility that the allies
might soon succeed IN an attempt to
break Turkeys lock ON the Dardanel-
les and thus let Russfa's grain crops
pour through to supply the enormous
European demand was one reason for
the recession. The effect Of Roum-
ania's possible entrance into the great
conflict might have on the allied at
tempt on the Dardanelles. was . con-
tributing factor Possibility OF just
such a probe as District Attorney
Cline promises, discussion in wash
ington OF the question OF placing an
embargo on wheat exports, and re-
.uctance OF small traders to carry
purchases over Sunday, all had the
natural eject Of aiding In lowering
grain rrices today.
Demands on the United states ~
Norway. Sweden, Denmark. Holland,
France. England, and Italy in compe-
tttion with the market, according to
president G. H, Candy. OF the Chicago
board. OF trade, form othe principal
reason for present high prices.
.The closing Of the Dardanelles, "
said Candy. "have concentrated the
demand on the United States. There
has been little or no speculation. Man
ipulation has nothing to. do with the
situation, 1t is based on laws OF sup
ply and demand"