The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-10-01
NEW GRAIN TRADE
RULESIN CHICAGO
Board Of Trade Prohibits Fur
Their Naming Of Settle
ment Prices.
MUST FILL CONTRACTS
Regulations Intended to Wipe
Out Speculation in Cur
rent Month Orders.

As a result. It Is understood, Of devel-
opments in connection with the ADJUST
nent OF the September grain contracts
which we're to be settled on the basis Of
a specific settlement price announced by
the Board of Trade OF Chicago. new reg
ulations have been put into effect which
eliminate the activities Of members Of
that body In the future in the naming OF
settlement prices. This procedure Ii to
stop. and all open contracts must be de-
livered and received on or before the end
of, the month OF delivery. All those re-
ceiving OF delivering grain on contracts
must have licenses and tho new regula-
tons amount to an elimination Of specu-
iative transactions In each current
month as II comes around. While II 10
not necessary. for transactions, whore
the delivery or the receipt Is not con-
templated. to be closed at the opening Of
each month, still II il very desirable that
speculative transactions be wound up be-
fore the grain may be rendered. Specu-
lative holders. It Is understood, can sell
out or shorts cover at any time, but
they must be prepared TO accept grain II
rendered. ..-s....
As result Of the new regulations
there was a considerable furry in the
grain market yesterday in the October
deliveries OF different grains at the OPEN
ing. but later everything WAS lost sight
Of In the selling pressure. which devel-
oped on account OF the Bulgarian news
and rumors regarding Turkey. October
corn was down eve. from the high OF
the day. November INC. October oats
were down axc.. November 3%c.. No
vember rye 1c.. November barley 1hc..
while provisions were also under press
ure. and practically everything closed at
ne low of the day. or near that point.
General opinion late was that the reg
ulations as to trading in the current de-
livery would not affect transactions In
the market TO any appreciable extent,
excepting that the regulations would
eliminate the possibility OF conditions
such as recently developed In Chicago,
where a settlement price was fixed. but
one Of the leading longs declined to
accept the tender of grain on such set
Element basis to the extent OF about
100000 bushels. This adjustment will
relieve the Board OF Trade Of RESPONSE
bility In the matter and eliminate with
out question any control OF the current
months, excepting no far as such control
is dictated by the actual demand for
cash stun.
CHICAGO. Sept 30.--Hopes Of a speedy
general peace captivated traders to-day
in the exchange here and made war
prices move downward like magic After
continuous heavy selling and an extreme
break Of 7k. the corn market closed
excited, ga to So net lower. with Octo-
Der 1.35E to 1885. and November 1.s3h
to 1.33E. Oats showed q setback of
rs to- IN. In provisions the result
varied from 81 decline to, 15c. advance
Belief that the corn market Was far
too high on q peace basts. dominated the
pit as soon as business got well under
way. At first the chief influence was
the news that the signing Of an ar
mIstiee had made Bulgaria's surrender
complete. This contingency had been
largely discounted beforehand. however,
and a quick rally followed sharp breaks
with which the market opened. Then
came word OF unexpectedly rapid for
ward sweeps by the Entente Allies and
of signs that a peace move by Turkey.
81 not by Austria. might apparently soon
be looked for Pressure to liquidate
holdings now assumed big, proportions.
and throughout the remainder Of the
day all support was lacking except
from shorts who had profits.
Oats and provisions succumbed to the
same factors that carried down corn.
Theories that peace talk was bullish as
60 provisions failed to work.
CORN-The corn market experienced a
break OF k15%c. from the previous
close on the war news and at one time
down 6ls @7sc. from the high point of
the day. There was very heavy selling at
titHs and buyers were very cautious, as,
despite the fact. that prices have had a
freak Of over lao. since last Thursday. II
was thought. that further sensational de-
Helopments may occur and that prices
nigh; 80 %, still ,owsr In tn. local cash
yellow quoted at S1.7s&, No. 3 yellow
si.esk. cost and freight New York.
OAIS-The oats market was also inhu-
enced by the war news and prices ex-
psrienoed . net decline OF 1H@2Sc. In
tho local cash market prices were barely
steady, standard and No. ? white being
quoted at size; No. 3 white, s5c.; No. 4
white, s4Mc; ordinary clipped white. ssh
sshc. all elevator.
RYE-Market steady. No. Western.
VIA. cost and freight New York.
BAHLEY-Market easy. Feeding, sl.Il;
milling, s1.li. cost and freight New York
HAY-Market strong. No. /. s2.2S; No.
Z. ,il5; No. 3, So.
CHICAGO PRICES.