Evening Republican, Volume 59, Number 95, Rensselaer, Jasper County, 12 May 1917 — ALLIED NATIONS’ APPEAL CHECKS SPECULATORS [ARTICLE]

ALLIED NATIONS’ APPEAL CHECKS SPECULATORS

Directors Act After Being Called By • Federal Officials—Trading In May Wheat Is Stopped. i- ||- 11 A H I -■ ■ I "I ' ■»' "« ■■ Chicago, May 12.—Trading in May wheat was stopped short yesterday by the Chicago board of trade.. It is the first time that such a step has ever been taken on the Chicago board, which fixes the .price of wheat for the world. It is regarded as possibly a first step toward the predicted regulation or limitation of maximum prices for basic food products. At a meeting of the directors of the board it was decided existing contracts must be adjudicated by delivery of wheat ‘or by a selling price to be agreed upon by a committee. A federal official said the action of the board prevented a flight which might have brought $lO wheat. The crisis that brought about the unprecedented actioq is supposed to be this: Vast quantities of Wheat have been bought that.do not exist anil are unprocurable. Allied governments have bought wheat that cannot be found. Eastern financiers, knowing true conditions, have “monped up” millions, mulcting the westerners who are credited with haying sold to the European governments and others wheat they get.