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 he wants 10 buy sack OF
four and is told that wheat is now
selling at 1915 a bushel The an
swer. however is not far to seek.
Look behind the door OF mothers
pantry. That is the answer, the
pantry
The proyident housewife has come
to believe that people viii be actual
~ starving for bread before this war
is over. As a result she has bought
nour. more -four and still more
-four. The result II that the price
has gone up and this has been reg
ulated 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 u -four that
will last for weeks and 10 is being
augmented every day.
High -four and grain prices are not
cue 20 speculation. but to the actual
buying OF grain This is attestcd BY
members OF the Detroit Board OF
Trade interviewed by reporter for
The Times The miilers arc de-
mAnding more wheat than there IS
In sight and the brokers frown on
speculation in tho product because
the grain is needed for actual de
livery.
There is no grain speculation on
the Detroit Board OF Trade. This
is due 20 the fact that 20 speculate
IN wheat nov would be more gam
ole than ever Wheat canno be dc
livered or contracts. Ordinarily a.
is not demanded. out always tho
seller Is prepared 10 deliver he
bushels IL they are demanded. Now
he couldn't do IL. because the millcrs
are making into -four All tho avail
able wheat n will eventually be
come bread. nap-jaoks, biscuits and
cakes
Members Of the Board ~ Trade
are discouraging specula ion In
wheat and are taking orders only
for the purchase or sale OF wheat
for actual delivery r J Simmons
a Company. n leading board hrm
Monday - eived kilograms from
Chicago agea,s TO the erec. hat the
Girectors II the Chicago Board OF
Trade advised all brokers 10 cl"Fc
out open accounts for July and sep
TENDER contracts other brokers
were advised by their Chicago cor
respondent, not 20 accept specula
tive account All are thus advising
tie men who would speculatc.
Harry B. Simmons. OF Simmons G.
Company, declares there Is no wheat
speculation SONG on in Detroit and
that the members OF the io-al board
arc trying all they can to discourage
IL. because mother wants the wheat
10 feed her lttle flock. Those who
ordinarily bought -four by the pound
are now buying il by the barrel or
two. and millers are begging for 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
ing custom almost prohibitive
marKins. Where $40 would engi
neer a deal a few weeks ago the
brokers now demand 800 They do
this as the quickest and easiest way
OF dlsoouraging speculation IN the
greatest staple OF daily use
The Detroit Board OF Trade has
become a secret organization with
In the last few days and IL is almost
impossible for an outsider to pene-
trate beyond the outside door. THIS
n due to the fact that outsiders
-"railblrds" as they arc called r.
have been using the boards quota
lions for speculative purposes.