Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-05-14
FIXING OF MAXIMUM QUOTA
1ioNs CAUSES SHARP
BREAK IN VALUES
FEW TRADERS REMAIN
AND TRANSACTIONS STOP
Attention 10 Turned 70 Corn and Oats
Pits, Where Early Gains Of 10 Cents
and 8 Cents, Respectively, Are Scored
.-Nesnnal conditions Prevail Only in
Market For Provisions,

Chicago. May 1&.-After Just three
minutes OF excitement IN the wheat
market today the pit became as quiet
as q funeral The drastic action OF the
directors Of the board in the fixing OF
maximum quotations Tor even the clos
ing Of old contracts made g. sharp
break In values almost q certainty and
the anxiety shown was chiefly in re-
gard 20 how far the drop might ex-
tend. That question was quickly
settled, for the extreme decline was
soon reached, Il cents, as compared
with Saturdays finish. Then the mar
ket rebounded 7 cents and later be-
came lfeless, the crowd streaming out
Of the wheat pit and tanning the Sec
rions reserved for corn and oats open
ing prices for wheat were the same as
Saturday nights finish 10 cents low
er. with July at $40 to s2.72 and Sep
tenlaer at s2.40 10 $2.ss. Then came
descent respectively TO 1888 and $2.3I
and subsequent rallies to s2.iO and
s2.41 before the market sr!ffened out
virtually Comatose.
During the greater part Of the re-
mainder Of the trade an appearance
similar TO that usually shown OUTSIDE
business hours was apparent About
g. dozen brokers stood around passing
The tine n idle chat Absence OF buy
ing grew so pronounced at midday that
wheat prices collapsed for time. At
this stage July was off 10 s2.52 and
Sentember to s2.22, a fall Of g 70 "a
~
In the last hour there was a rally
as the result Of filing Of scattered or
ders to purchase, The close was unset
tied ar u 20 IS cents under Saturday g
finish, with July at 2.5a and September
at rs.
Corn.
Corn rose more than 10 cents and
oats more than 6 cents. Aitho az the
top Of the bulge corn fuctuated severe
", no important setback ensued-
The close was nervous at SA 10 SIS
cents net advance.
Oats.
Oats receded about 5 cents from the
opening after showing gains Of more
than cents.
Provisions.
Only IN provisions was there any
thing Ike normal conditions prevailing
Moderate advances were scored but
ordinary limits were observed and the
gains seemed merely to reflect prevail
ing higher prices in the hog market.
Lamson's Grain Letter.
Furnished by Lamson Bros. & Co. 2o3
Masonic Temple, Phone 1881
Chicago, May 14.-Wheat-The fixing
of maximum prices for the settlement
Of May contracts and 70 rtrading IN
the July and September for two days
had the effect of lowering values.
Fresh buying being restricted by this
act Of the directors, there was enough
scattered liquidation throughout the
day to reduce materially the price. It
is unfortunate when conditions arise
that require mechanical adjustment Of
a speculative market.
Corn and oats-With trade restricted
in wheat and discontinued in May corn
and May oats, these markets bulged
sharply during the early trading. When
prices for the settling Of May contracts
were published there was a rapid re-
adjustment Of the deferred deliveries
to a reasonable basis with the May
price.
Chicago Grain Close.
Chicago, May 14.-Wheat-No. red,
nominal; No. 3 red, 3.25: No. hard,
S.25mS.35: No. 3 hard, 81.
Corn-No. 2 yellow, 1861 91.sS; No.
/: yellow, 1861 41.67; No. 4 yellow,
nominal.
Oats-No. white, TAX 9T5: stand
ard, 74@15M.
IAMS0N RR0S g.. IN