Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1917-05-17
GRAIN FUTURE
TRADE HALTED
Chicago Board Of Trade Takes
Drastic Action.
BIG DEALERS IN CONFERENCE
Senate Votes Down Amendment to
Esr .onage Bill to Close Boards Of
Trade-Senator Thomas Declares
Nationwide Demand Is Made for
Drastic Federal Action.

Nationwide Demand Is Made for
Drastic Federal Action.
Washington, May 15.-By a vote OF
40 to "a the senate rejected an amend
ment to Gregory espionage bill, which
would close down boards of trade,
chambers of commerce, stock eX-
changes or other bodies engaged in,
or permitting speculation in food pro-
ducts" The amendment was offered
by Senator Thomas, Colorado, and
will be taken up as a separate meas
ure later.
Suspension during the war Of all
stock exchanges. boards of trade and
chambers Of commerce which permit
speculation in futures on foodstuffs,
was proposed by the Thomas amend
ment.
Senator Thomas said he had re-
ceived scores of demands from the
general public that gambling in neces-
sites of life during the war be stop
ped by congress. He cited the recent
soaring of May and July wheat flu
lures in the Chicago market to show
the need of immediate action by con-
gress to stop food gambling"
Allies Ask 100000 Bushels.
During the food debate Senator
Gronna declared the allies had called
on the United States to furnish $780,
900 bushels of grain this year He did
not state the source of his informa-
ton on the senate floor, but privately
to senators he established its authen-
ITCHY.
Chicago Board Halts Grain Trading.
Chicago, May 15.-The Chicago
Board of Trade took drastic action to
put a stop to rising grain prices by
adopting resolutions forbidding furth-
er trading in May corn and May oats
and new deals for two days in July or
September wheat.
Following the action Of the board
of trade in putting a temporary curb
on speculation in grain futures, repre-
sentatives Of the council of grain eX-
changes from the leading cities of the
middle west met in Chicago to frame
uniform action by the different ex-
changes throughout the country.
According to reports it is likely
that actual prohibition of the trading
in grain futures which at present APP
plies for only two days will be order
ed and that it will remain in force
until further notice"
Among the cities which are repre-
scented at the meeting of the council
of grain exchanges are Chicago, Min
neapolis, Duluth, Toledo, Detroit, St.
Louis, Kansas City and Omaha.
Grain Prices Drop.
The result of the boards action was
to put stop, at least for two days, to
board, except in July and September
| corn and oats.
July and September wheat fell Off
sharply, losing 20 and Is cents from
| Saturdays closing price, up to noon,
July rallying slightly at the close.
Both corn and oats, July and Septem-
| Der, gained, the former approximately
| 8 cents, the latter 2 cents.
July Wheat Drops to s2.55.
July wheat closed Saturday at $275,
opened Monday at $2.72, dropped to
| S2.55 at noon, and rallied to $3.50 at
| the close September closed Saturday
| at $2.46, opened 2 cents lower, and
closed at 1929, the low mark of the
| day
July corn closed at $685. and
| 1885, against a Saturday closing OF
$149A. September closed at $50 and
| 81 5O1h, against 1852 Saturday.
Oats, for July futures, closed at 68%
certs, against 671a cent closing Sat
| urday. September closed at COZ $50
cents, against So cents Saturday.