Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-18
WILSON ORDERS
IMMEDIATE PROBE
OF WHEAT PRICES
President Incensed at Men
Who Will Use World
wide Want for Profit
Making.

| WASHINGTON. Jan. 1S,--Vigorous and
immediate investigation of the wheat
situation and the skyrocket trend of
prices has been ordered by President
Wilson, II became known at the White
House today. The President has in
! structed Attorney General Gregory to un-
dertake a full inquiry TO discover
whether the soaring prices are the re-
suit of corner or combination in de-
nance OF the law.
The President determined that some
such action should be taken at once
when proof was laid before him that
certain sharp advances in the grain mar
ket were not due to the heavy European
demand, but to artificial causes, The
President is said to have expressed him
self vigorously in giving his opinion of
men who would take advantage of world
wide want 10 gain few dollars,
The Attorney General is TO be given
free hand in pressing the investiga-
tion. The preliminary steps will prob
ably be taken through the United States
District Attorneys office in Chicago.
These possibly will be followed up by
the Attorney General in person, or II
that Is not practicable, by one OF his
personal assistants
A bread famine in the United States is
almost an economic impossibility, even
though increased exports of wheat TO
Europe seem TO threaten our domestic
supply. This was the declaration today
of Or. l.. NJ. Estabrook. statistician of
the Department OF Agriculture
Doctor Estabrook asserted that future
orders of American millers and bakers
will insure for the United States an ade-
pf
ports of American grain send wheat
prices up 10 the fabulous 81 a bushel
mark.
I'VE have figured out" ne said, that
the United States normally has between
200 and S00, 100000 bushels of wheat
for export. The bumper wheat crop of
the United States, which was practically
SOO00O,oO0 bushels, has had the effect OF
slightly raising this export maximum,
thereby allowing the United States TO ex-
port a larger amount than usual.
Nevertheless. the American miller and
the American baker have an equal chance
with European buyers, and II is only
reasonable TO assume that they are TAX
ing steps, in view of the recent heavy
exports. to safeguard the domestic reserve
from which they must draw their supply
MILLIONS OF BUSHELS STORED.
These millers and bakers have placed
orders Tor immediate anu iutuIe uellNefy
all through the fall and winter. They
have stored millions of bushels in eleya-
tors which will never see Europe The
present holders OF grain have received
orders for future delivery OF wheat TO
these American millsrs AT prices based on
the market value Of wheat at the time
OF delivery
when wheat is being sold the seller.
speaking. has no preference
as far as the buyer Is concerned Just so
long as the buyer is willing TO meet the
market price. The American miller
therefore. is meeting the European buyer
on even terms. and can command his
own supply OF wheat just as readily as
the European buyer demands his export
supply
The only possible way for the flour
supply OF the United States 10 be cur
entalled Is through a theoretical eco
nOmieaily impossible situation. whereby all
or prseticaily AL OF the mea who control
the grain would enter into 4 conspiracy
10 sell American wheat only for export.
such : situation i not only absurd on ms
face. put II i should BE attempted Con-
sreasi would step ln and iegislate against