Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1915-03-02

ptle IldIl IlluSL lluNC hoIhlhe, oh"
therefore he cannot he a factor
Consumption fluctuates like produc-
ton, Mr.. Candy said. War and the
increase in prices have not affected
materially the consumption. The
chief change is seen in less waste.
Gould dealers store grain in their
elevators and force the price u1,'
ward?" Mr.. Becker asked.
Not without its becoming known,
and the fact is that just the oppc
site movement has been going on
the witness said. '1he export sur.
plus is what fixes the price for the
entire wheat supply in this country.
AS long as Italy Or any other Euro,
pean country is willing to pay $1t25
a. bushel here for our grain We also
must pay that sum. Europe this year
is buying wheat here or anywhere
that expectation is not prohibited and
the price is no object.
4 *
"lf Germany could get 100, 900 ,0CO
bushels of wheat here now at ~ a
bushel | believe she would take it. |
believe there is supply enough to go
around and that by June ! there will
be a decrease in the demand. Prob.
ably Europe is looking we'll ahead
and buying now for the future do
think that it is a dangerous thing for
this country not to be in a position
to exercise some power in restriction
of exports in case of necessity.
"Tha embargo on all shipments
from Russia, the stopage of exports
from the Danubian countries, the
failure of the Australian crop and the
small yield in Canada have been fac
tors. No man or combination Of men
could have prevented the present
range of values. Governmental pro
hibiticn of exports would have result
ed in a general financial panic and
left the West with its wheat crop in
the same position as was the South
with it's cotton crop. Conditions con-
troll prices and not the markets; the
markets merely reflect the prices.
Speculation this year is vastly less
than usual"
HAS the price of wheat been lift
ed by speculation-by big, bold spec
ulators?" was asked.
81 do not believe any bold specu-
lators plunged and made fortunes"
Mr.. Candy said. Il do know thai
some big people oversold themselves
and we're frightened badly. 1t is
mostly a case Of sitting On the fence
in the wheat market. But specula-
ton does not increase or lower
prices. Big tiuctuation is due to
small speculation,'' I'm
isn't it a fact Mr.. Becker asked,
that there is a class of big spscu-
lators with inside information and
enormous financial backing which
operates to control the price 0:
wheat?"
There is no such group Of spec
ulators as far as I know and there is
no man on earth who can gat inside
information about wheat which You
or anyone else cannot get for the ask
ing"
Then the popular belief that the
Armour interests, with large capital,
allied with elevator interests where
the grain is stored, are able to con
troll the export market and thereby
control the price Of wheat III this
co%untry-all this is a myth?"
You might call it that MIR. CANDY
said. Il would call it mconshine or
just pure bunk People have read
about such things so much they have
come to believe them"
y 4 X
There is prevalent in the country
a belief that if we could stop specE.
lation we would help both the con
sumner and producer and give each :
fairer deal; is that your opinion:
Mr.. Becker asked.
Il am positive that if you stop spec.
ulation you would hurt both the pro
Queer and consumer" Mr.. Candy said.
IF by any fiat of government ;pacu.
lation were done away with. the re-