Evening star., 1917-05-15
ALL GRAIN EXCHANGES
MAY BAR FUTURE SALES
Conference of Officials in Chicago
Today May Forecast Drastic
Action.

BY the Associated Press.
CHICAGO, May 15-Representa.
tives OF the leading grain exchanges
Of the country mt q meeting here to-
day recommended to their respective
exchanges that they continue until
further notice the restrictive regula-
tiOns which were put in effect yes
terday.
The directors of the Chicago Board
of Trade today extended until
further notice the regulations COW
erfng dealing i'm futures which were
put into effect yesterday.
CHICAGO, May 15.-A sentiment was
manifest on the Chicago Board of Trade
today that the action yesterday Of the
board of directors of the organization
in forbidding further trading In May
corn and oats and suspendinE for two
days all purchases of wheat, except for
the liquidation of existing contracts,
was but the forerunner of more drastic
steps to be undertaken to curb specu-
lation in grains.
Delegates from the grain exchanges
of st. Louis, Kansas City, Omaha, Min
neapolis. Duluth and Toledo are ex-
pected to meet here late today with the
to discuss the situation in an attempt
to evolve a plan for concerted action by
all the grain markets of the country.
1t was admitted that, with the high
prices of grains. the runaway tendency
Of the market and the national emer-
gency, some radical action is necessary.
May Bar All Futures.
A possibility that this might take
the form of orders eliminating all spec
ulation in futures, either stopping such
trading entirely or by fixing maximum
prices to be adjusted as the market re-
Quires, also was admitted. Other ex-
traordinary steps which 1t was said
unoff1cially the conference will be asked
to consider are the advisability of es-
tablishing maximum prices on July and
September corn. and uniformity of ac-
tion in demanding excessive margins to
the end that the purely speculative ele-
ments can be eliminated from the mar
ket.
What was said to be an informal
meeting of representatives of the va
rious grain boards was held this fore
noon. Those reported present included
David Anderson and Frank 1. King.
Toledo; two representatives each from
Kansas City and Duluth. five from st;
Louis three from Minneapolis and
President Griffin and directors Of the
Chicago Board of Trade.
There was no business in the wheat
pit meanwhile, save that memberships
were being hawked about. These sold
at the height Of the activity of the
market last winter as high as $500.
One man who had three for sale today
for friends said that he had offered
them at $4,000 without takers.
Cooperating With Government.
Secretary Merrill of the board Of
trade asserted that the grain men have
been cooperating with the federal gov
ernment.
eve have . committee Of six in
Washington. he said. ~wh0 have
opened headqusrtsrs and have ten
dered their offices to the government.
ssT7le connfnittee consists Of Julius
Barnes OF New York and Duluth, the
largest exporter; Robert Nc
Dougal OF Chicago, r. b. Wells of Min
neapolis, D. F. Piazzek of Kansas City.
r. Hauser OF Portland, Ore"
The curtallment Of speculation or
dered by the board of trade yesterday
in further price recessfons in
early grain trades today. July wheat
sold OF Ii cents to $z.4s and September
8 cents to $3.50. Corn dropped from
IN to 3M cents and oats from to / u
cents. The meeting here Of delegations
from leading grain exchanges was
for pm. today.