The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1917-05-15
FLOUR IS
|HOARDEDIN
HOMES HERE
'PrOvident Housewife Is
Taking No Chances
These Days
ONE REASON WHY
WHEAT IS HIGH
No Speculation Locally,
Say Members of
Trade Board

:. What is the reason for the high
cost Of wheat" asks everybody
when ne wants TO buy sack OF
-four and is told that wheat is now
selling at 1915 bushel The an
swer. however. Is not far 10 seek.
Look behind the door OF mothers
pantry That is the answer. the
pantry
The provident housewife has come
20 believe that people will be actual
" starving for bread before this war
In over As result she has bought
nour, more -four and still more
nour The result is that the price
has gone up and this has been reg
uiated entirely BY the Law OF supply
and demand
Hidden away In basement or pan
Try in a great majority OF The homes
Of Detroit Is supply OF -four that
will last for weeks and u is being
augmented every day
High -four and grain prices arc not
due 10 speculation. but 10 the actual
buying OF grain This IL attested 5y
members OF the Detroit Board Of
Trade interviewed by q reporter for
The Times. The millers are dc
handing more wheat than there is
in sight and the brokers frown on
speculation in the product because
the grain is needed for actual de
livery
There is no grain speculation on
the Detroit Board or Trade This
Is due 10 the fact that 10 speculate
| in wheat now would he NOR a gam
! bic than ever Wheat canno' be de-
liyered on contracts Ordinarily u
IS not demanded, nut Away tho
seller is prepared 70 deliver tic
bushels n they are demanded. Now
ne couldn't do II, because the mill,rs
ar making into Hour all he avail.
able wheat II will eventually be
come bread. Gap-jacks, biscuits and
cakes
Members az the Board ~ Trade
are discouraging speculation in
wheat anil are taking orders only
Tor the purchase or sale OF wheat
for actual delivery r J simmons
4 Company a leading board hrm.
Monday received kilograms from
Chicago agenjs 10 the eTec: hat tho
directors " The Chicago Board OF
Trade advised all brokers go clpsc
out open accounts for July and Sep
ternber contracts Other brokers
were advised by their Chicagn cor
respondent. not 70 accept specula
tive account. All arc thus advising
tho men Who would speculate
Harry r Simmons. Of simmons &
Company. declares there Is no wheat
speculation rCing on in Detroit AID
that the members OF the iorsl board
are trying all they can 10 discourage
il. because mother wants the wheat
20 feed her little flock Those who
ordinarily bought -four by the pound
are now buying Il by the barrel CT
two. and millers are begging Tor the
grain.
On the other hand. according 10
Mr. Simmons. the crop prospects AT
present indicate a crop OF only lit
tie better than IS per cent OF nor
NAL
Board OF Trade brokers are pre-
venting speculative accounts BY ask
inc custom almost prohibitive
margins. Where $40 would engi-
neer a deal few weeks ago tho
brokers now demand 500 They do
this as the quickest and easiest way
Of Encouraging speculation in the
greatest staple OF daily use.
The Detroit Board Of Trade has
become secret organization with
in the last few days and 81 Is simot
impossible for an outsider TO pe1
trate beyond the outside door. This
IS due 10 the fact that Outsiders
"railbirds" az they are called. have
been using the boards quotations
for speculative purposes.