Salt Lake Telegram | 1930-09-29 | Page 1 | Board of Trade Tells of Russians Selling Short

Board Board- Board of of Trade Tells of Russians Selling Short Fish Com Commission ision Assured I Action Injure el elu U U. S S. S Farmers CHICAGO Sept 29 29 United Press Press- Press The Th government rec received Its It's first frat j information that R Russia a ia was wa lelling j wh wheat t short oh ori tho Chi thi-Chi- Chicago Chi cago co board of trade from from board of fica President John A. A Bunnel Bunne testified today before the house hOUI committee investigating communist propaganda J inthe he United States Stat Bunnell Dunnen a a. veteran grain trader who has been president president-of tho rd of or trade four tImes s. s was the first witness to f face faco co Chairman Hamilton Fish and thc tho committee Both Bolh ho he and nd J Joseph W. W Badenoch chairman of 9 tho the bu conduct I o told the Chicago t federal deral f futures tores supervisor on September 13 15 a and l 14 It that th there re rew w were vere rc rumors in hi the pit of ot Russia selling tran t Bunnell u said Id TOOK Th This Tho board decided to to bar n Russia as aft well as ns other ther foreign i governments governments govern govern- ments from selling short hort on on the market Bunn l t alil don th thead nd vice pf or Silas for Of th tb the board ard Strain and an other ere of ot the tho e went to Wash u to to Secretary of at Agriculture Hyde th the latter bad revealed reveal d' d the abort and e called bu on U the board tot take to ke olno action In to lt tt It j jIn In barring nue Russia ra we Wb act acted d. d us as Continued on on page pae 7 I SHORT WHEAT HE T SALES TOLD I 1 I B BY BY PIT OFFICIALS 1 Continued from 1 zens ens as a. well as officials of ot the ird d Bun Bunnell said attracted your attention to toB 5 B short 7 Representative fl ilson tison on of or Vermont asked EW AND NOVEL It elt Jt was something rev nev an and andye ye cJ Bunnell BuRnell replied I Is there Rn any reason Russia wouldn't sell wheat short 1 elson liked eked J 1 i know of or no reason why they Dunn Bunnell U said A h adopt tho the resolution barring J then wasn't It contrary to JOD ar convictions Nelson asked 1 tt 1 1 wouldn't say My that exactly Bunnell B replied We conferred our representatives who went to Washington V-Washington to sec ec co Secretary Hyde d and follo followed cd their advice NOT DETRIMENTAL f Nelson Clon on then asked Bunnell It there was was' anything detrimental in selling se short abort when prices were nero ro f falling failing Not necessarily Bunnell said cald 4 Is Ia there lher anything detrimental to the American farmers Would It depress prices sZ sZn Any n heavy selling has a L tendency s prices Bunnell said Bunnell said d that palo ai of ot bushels of oC wh wheat t on Sep Sep- tc trl 8 I t. t and 10 was i not an anun un un- un volume of aal sales s R for a client c nt OBJECTS TO GAMBLING r in effect gambling on the i Nelson ased word p objected t to the tho bUn and arni Nelson Xelon rephrased t tn question using protection n of or 10 aTh b by Russia could have f hedging Bunnell said gald i tk X v I