Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-24
GRAIN PRICE JUMP
|. LAID TO BEER HOPE
Wall Street Reused by Rumor
of WickerSham PIan-AISo
Called Wet Strategy.

NEW YORK, October PA per-
sistent report that the wickersham
commission would include in its report
to Congress in December a recon-
mendation for the repeal of the Vol
stead act is regarded here as a definite
explanation of the upturn in grain
prices and the strength Of corn, barley
and other grains on the Chicago Ex-
change this week.
At the Offices of Jackson Brothers.
Boesel & Co., New York brokers, the
Chicago correspondent of the firm was
questioned as to current grain prices
and sales. The reply was that the
strength of the market was regarded
in Chicago as attributable to activities
Of Eastern interests, who were con-
WINGED that the Wickersham report
would be adverse either to the Volstead
act or the eighteenth amendment or
both.
Report Not Confirmed.
The word in Wall Street was that
the commission would recommend le-
CALLING beverages of 2.75 alcoholic con-
tent, the program of the American
Federation Of Labor, which would let in
beer. The tale was that somebody or
other had found a leak-there were
fanciful variations of how it came about
but no definite source or authority
for the report could be found. However,
it seemed certain that powerful grain
specializing interests were placing bets
on the story and were strengthening
the undertone of the grain market.
The rumor apparently started soon
after Judge Kenyon offered to President
Hoover, instead of to Chairman Wicker
sham, his resignation from the COM
mission. Judge Kenyon has been known
as an extreme dry and Wall Street
seized on the story that his indignation
over the preparation of mildly wet
report led to his offer of resignation.
which President Hoover did not accept.
Word was received in New York to-
day. crediting j. E. Cairns of the Uhl-
mann Grain Co. with the definite state
ment that recent grain buying was
supported by Eastern interests on the
supposition that the Wickersham report
would urge modification or repeal, and
that this report would be sustained by
President Hoover in his message 70
Congress.
Seen as Wet Strategy.
BY some observers, both the report
and the activity in grain were construed
as clever wet strategy, designed to
dramatic the possibilities of immediate
economic relief, in increased grain con-
sumption, higher prices and increased
employment which supposedly would
follow the return of light wines and
beer.
Northern New Jersey and New York
City are centers of great deal Of beer
consumption and the "wiShful think
ing" of these local vested interests may
account for the vitality and persistence
of the Wickersham rumor here. AT in
Vulnerable places in and around the
financial district, it is possible to pro-
cure good beer, public taste apparently
having turned decidedly toward beer
and away from hard liquor a year or
two ago.
Oddly enough, the good beer is found
mostly in this district, with the needle"
and "alley" beer supplies farther up
town. It might appear that the brew
ers were concentrating en- proving to
the money powers just what complete
comeback of the art of .Gamhrinus
would mean. At any rate, gossip, whis-
pers, low-down, wild conjecture and
mysterious inside tips on beer and the
chances of its return have stirred the
Street much more than many other
weightier matters of recent days.
(Copyright. 1900