The evening world., 1915-02-23
EXPERT BLAMES
HIGH WHEATpR|CES
. ON THE WAR ALONE
- = :.
Speculation Not Responsible
for Gent Bread, c. H.
Canby Tells Investigators.
SEES RELIEF BY SPRING.
Only Way to Lower Prices
Now Is by Disastrous Fed
eral Embargo on Exports.
SEES RELIEF BY SPRING.

Caleb II. Candy. President OF the
chicago Board Of Trade. was the most
interesting witness heard at to-dsy's
session OF the Attorney Generals In
vsstisation into the rise In the price Of
bread. He is said to be- one Of tho
best informed men in the world on the
price Of grains and othsr foodstuffs
He came from Chicago at the invita-
tion Of Deputy Attorney General Al
fred L. Becker a. n voluntary witness.
Mr.. Candy told Deputy Attorney
General Becker he is quite sure the
rise in the price OF wheat is not due
to tho manipulations Of spectators.
but arisss from natural conditions
brought about by ~ war In Europe.
Every 6ivilised nation" he said.
"is an importer or exporter Of wheat.
The situation surrounding wheat and
Its products during the last seven
months 10 unparalleled In the history
of our country: consequently It IL
snly . question Of time whom II will
become more normal. In no previous
year has there been such concentra- :
tion Of competitive buying in the
masksts Of the United States by the
countries Of Europe. The only limit
70 the demand has bean the amount Of
oossh freight room obtainabls.
Holoo WAR RgePoN0iOLE FoR
NioH PRICES.
Tho embargo on all shipments
from Russia. the stoppage Of exports
ers0 The Daaubian eovAtriss. the fall
vrs of ths Australian crop and the
small ytsid In Canada have all been
eeatytbutive faafurss. One nation
Aew at war would giadly pay - .
bushsl for So.ooo.ooo bushels OF wheat.
"No man or combination Of men.
no power ON earth except govern
pa9ptsl pyahibat,sn a sxposts-whicl
would have resulted In . general An-
sneisi panic. and lett the wsst with
~ wheat In the sams position az the
0ovth With tts cotton crop. could have
prevented ths present range Of values
present prices are not unreason-
able. II the Dardansllss should be
opened and the supplies from Russia
and the Danubian countries be re-
leased. an immediate and radical
change In the situation would result
and . sharp decline In prices would
follow.
Has the public forgotten the fac,
that all through the years 1911. 1S1;
and 1919 and the FIRST half Of 1914
-four was cheap. and that on the BASH
Of thoss prices the producer made
very little. II any. profit on his wheat
"Considering average prices from
Jan. I. 1911. up to this day. I believe
there In no jpst cause for complaint
THINKS PRICE OF WHEAT WILL
FALL IN ePRiNo.
Mr.. Candy insisted the price o
flour 10 Immediately controlled b,
the price Of wheat. and that the mo.
ment the present abnormal condition.
cease the price Of flour must fall.
A sort Of buyers panic followed the
reports In all tho American news.
papers Of the advent Of European
buyers and not only big baking con
Germs. but householders by hundreds
of thnsisApds begap to buy and &C
oumulats all the hour they coult
store. Then Holland. Sweden ant
Italy. hndtng the Dardanelles closed
came Into the market.
''The consequence Of all these &C
tivities," said Mr.. Candy. has bean
constantly mounting series OF quota
tions. until We reached. last wsek
what II probably the top price. Il
May the wheat shipments from Indii
will begin. the movement from tn
Argentine will start In the spring an,
the situation will case up bit. Ais
tha entire absence of waste, whieh al
ways accompanies high prices. wi
help to relieve the tension"
The action Of some Of the larg
bakeries in Increasing the price Of
loaf OF bread to cents TO retailer
resulting In an increase to 9 cents
loaf to the ultimate consumer. wa
made the subject OF a special invssti
cation by the Grand Jury to- day. Az
sistant District Attorneys De For
and Colnon, who have been wHrkin
on the high price Of bread situatio
for . wesk. were IN charge OF the pre-
They had seventeen witnesses o
hand when the Investigation begaI
Despite the District Attorneys O
foyts Ut haste, ths GRAND Jury fouu