The Sentinel=record., 1917-05-15

Chicago, May 1.-The low swell of business disturbance due to the entry of the United States mto the world war broke in a crested wave over the leading grain exchanges of the country today. Tomorrow representatives Of these exchanges will meet here to dis euss the situation. the high prices O. grain, the runaway tendency of the market and the attitude of the govern ment
 There is among influential Chicago grain men sentiment tda. specua- ton in futures should be absolutely eliminated. The sentiment. however. was by no means unanimous. II was reported that the Minneapolis de era- ton would oppose such procedure. de- spike food regulation measures pro- posed by cOngressmen includ ng Sena. tor Thomas demand floor the closing oi all exchanges where toodstuffs are speculated in. Delegations are expect cd also from Duluth, Toledo, Kansas City and St. Louis.
 The Chicago Board of Trade began the day by taking unprecedented ac- tion to curb speculation Buying of May options in grain were prohibited and outstanding contracts were ord cred closed at or under maximum prices fixed by a committee of the board Trading in July and September wheat was curbed for period os two ( J,,f, and $245 a bushel or under for Sep tember The maximum price for clos ing out May corn was fixed a; S1.G1 1-2 and for May oats at 73 l-2 cents busbel
 The result of these re2ulations was sharp decline in wheat and advances in the coarser cereals. Net changes for the day follows:
 Whcat--,Iuiy l6 cents lower; Sep. tember, IS cents lower.
 Corn-July 6 7-S cents higher; Sep tember s 5-S cents higher.
 Oats-July 1 1-2 cents higher; Sep tember ? l-3 cents higher At St Louis. Kansas City Duluth. Minneapolis and Toledo the boards took action approximately similar to hat of Chicago. At St. Louis wheat declined 10 to Il IL cents: at Kansas City, l2 l-2 to 13 cents; at Minneapolis to IS cents and at Duluth 13 to IS cents. There was a holiday at Winni- peg-Arbor Day-but the board there voted 10 discontinue trading in Oc- tober futures, the only one recently quoted St. Louis corn advanced 5-S to 3-S cents while the rise at Kansas City ranged from Is to cents net higher
 Three big commission houses during the day outdid the board in their ac- tons, but their .ead was not followed to the extent which had been antici- pated. Logan X Bryan, Thomson X McKenuon and Wagner X Co.,, notified their customers that until further no. tice they would accept no trades in futures eXcep, to adjust existing con. tracts. Other brokers inclined to the view that they should be guided only by such action as the board of trade directors may decide upon. Meanwhile it was reported that many telegraph operators employed by brokers were being warned that their services might be presently dispensed with
 What connection the federal govern mcnt had, If any, wiUh the action of the board today was not made known. Special Assistant Attorney Geueral Robert w Childs left for Washington to confer on the grain Situation with Attorney General Gregory, President Joseph Griffin of the board conferred with United States District Attorney Cyne at the conclusion of the dlrec. tors meeting. Nelson B. Updike of Omaha, vice president of the Updke Commission Company big handlers Of cash grain, also saw the district attol, ney. Mir. Griffin was also closeted with Henry s. Robbins, attorney for the hoard