OCR Text |
Show SUM SEES EMM HI VHEATCRASH Grain Exchanges Take . Revenge Against Fanner and Farm Bloc for New ' Law. Ladd Declares WASHINGTON, July II. -The fall In wheat rfe durinr ncnt month wu attributed to manipulation manipu-lation by grain apMulatora in retaliation re-taliation of tha regulation of tha 1 Brain exchanges by congress. In . a latter written by Senator Ladd. Republican. North Dakota, on tii vfl of his departure for Europe and made public today at hla office of-fice here. Nine daya after the regulatory legislation became effective, the i senator asserted, "the wheat mar-' mar-' ket started to slide, and since that time there has been a steady decrease." de-crease." "For thirty years," he continued. "the eyeoala tors -ausoasfuiJ y tought lfglftifttlon that would curb their activities. Now, finally, thla new Saw with a few teeth In It Is proving prov-ing to be annoying and they Inaugurated In-augurated a period ot strict discipline disci-pline for the wheat farmer and the farm bloc tn congress by which dmclpl.'ne they hope to eventually convince the wheatgrower that be was all wrong In demanding law1 Jiich curtailed their power and! that he must come bark and ask I congress to repeal this annoying measure, take the teeth from the law and again trust to the generous mercies of th wheat sharks. "Tfelr system haa worked very clavarly uluxlng th -iaat three months In driving down the prices of wheat by means of hesvy short selling. The propaganda has been, clever and tha consistent crop eett- j mates, weather reports foreign I supply and demand, domes tlo nee da, possibilities of a tremendous surplus sur-plus in the growing crops, all have been cleverly used to force the natural buyer out of ths market In the belief that ha would eventually buy at a lower price.' |