Show SilVER GRAI GRAIN N PRICES SLUMP Markets Sag Sharply When Rainey Says Monetary Bills Doomed NEWYORK April 16 JP prices dropped sharply in ut the spot pot and futures markets today oday Bar metal was quoted 45 2 1 cents an ounce off 8 7 cent from Saturdays Saturday's price Futures on the com commodity ex cx- change chance yielded about 1 2 1 2 cent during duro dur- in ing the early trading under fairly heavy offerings g The called so-called tic domestic spot metal was unchanged at 64 8 1 cents an ounce I Grain Market Sl At Silver Announcement nt CHICAGO April 16 6 JP Smash Ii in ing downturns or of grain prIces tOday quickly followed Speaker Raineys Rainey's announcement In Washington that the pr was op opposed ed to any ny sIb sHe ver legislatIon during the slon sion of congress The downturns downturns' were at at- atthe the maximum maxi maxi- mum permitted in a single days day s session ses- ses sion five cents for wheat four for corn and three for oats The maximum break cam came only a afew few tew minutes min before belore trad trading ng c cased ased for Cor the day May y wheat closed at t 80 8 1 cents a bush bushel l only 8 18 higher than the days das lowest quotation n. n May l corn under pressure from the start closed at 42 33 3 cents and a May oats finished at at 26 8 38 cents both the lowest points l for r the day The tremendous break came almost a year ear to t the e da day from the start ot of otone one ot of the greatest bull markets in inI history A year ear ago wheat waS was sell sell- I Ing 60 and 63 cents a bushel |