The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1917-05-16

le6ge1>5Ua q Action BY Federal Au.
teif3ss Appears to BE Connected

v1oQ( w. ordered discontinued at
unooting Of the directors Of the Chica-
~ Deard 81 Trade tonight. The direc-
>ses .AlDe decided that existing con-
<C)actc should bs sdjuiiicated either by
eliw,ry Of the property or at sell.
D prios to bs fizsd w q committee
oroqlnted for the purpose. This
>Qqasi@tee. headed by James A. Pat
>ons WIN meet tomorrow morning.
Hay wheat was quoted at ss.1s at
~ eIcss q trading today. Traders
~ thsrs was no way Of estimating
~ e2e9 q the order on trades exist
- ~ amount Of wheat ON this
U1Ptoti vas said to be lse.oo0 bushels
h>nseay ana that probably the
014pnt now here was short Of those
oUor$a
~ ssas current among the members
- Mob that action by the federal
ee<heritiss In the last few days--and
DoreenoarH earlier In tho day--had
pcgts,ed the action of the directors.
Nene of those at tho meeting would
tceofm o. deny that Il had been In
tlmated to hoard off,oiais that some
action to curb soaring prices Of wheat
should DO taken or government on
eie,s would close the board. Il was
eenste>d that several msmbsrs had
heen Summoned to she efiee of the
se>srAl district attorney In the MORN
80 and others again In the. afternoon
but q was said no threats had been
Pade or intimatsd. II also was ad-
nittsd that government agents had
4>sn In the trading pit OF the board
sos several days taking notes on the
1rodss. ..I
The board Of directors were
Dsemptsd In reaching their. conclu-
e4ns by what they deemed to be their |
@n1rteeie duty" said Joseph p. Grimm.
1roeceent cf the Board ee Trade. ut
(no0ld be Understood that the Board |
- frads y neither buyer nor =
p'ser--it is merely . market place |
~@>ers meet daily the millions of pro- |
4u>efs and consumers throughout the |
eountsy. ss
.s.'T ahcuid like co emphasize that |
HvoeulAuon has nothing whatever to |
- With the sction Of the directors in |
'esciding to abandon trading In May
vhtat poe - speculation In any sense
Recponsibls for the high prices pre-
vAilinG for May wheat or the cash |
eftlese. Generally speaking. the spec
plAser b not interested In May wheat,
~ operations being confined to the
nturs. Practically the entire interest
- Nay y restricted to farmers, grain
teassrs. miilsrs and forsign govern
8so>s. ..1l..m
the recent hysteria over tho food
sosuetsoa has caused . stampede Of
Aeneninsrs In every direction and
svss ths lssding governments OF Eu-
sope spem to have become fearful a.
"a their future rsauirsmsnp. The
iergpst buyers Of wheat for present
ssd sutnre delivery st this time IN |
tAb naskst are the governments of
Nnrepes not spsculstors. rs.et-
so long - there is no restriction,
such a. we have just adopted. there
- 10 aiAit 70 the amount OF wheat
oess governments might purchase.
4hsrsfers. the action Of the directors
foss not interfere with the freedom
g. eontract on the part Of either the
asdivsduAls or government. but COM
3e,s these requiring wheat for i'm
Hnstists consumption to make pur-
ehases from farmers and srsin deal
ers. rather than through the medium
g . contract for future delivery on
ths noor Of our exchange"
Married IN Virginia.