| OCR Text |
Show HOLDS GRAIN NOT CURRENCY BASIS, Treasury Officials Turn Down the Request of Dealers, Alleging Speculation Washington, Aug. 30 Tho request of wheat, corn and other grain Interests Inter-ests for an arrangement by which i grain warohouso receipts would bo the basis for tho iBsuanco of currency cur-rency along tho lino of tho recent arrangement ar-rangement on cotton and tobacco warehouse receipts has been flatly ' turned down by Secretary McAdoo and tho fiscal heads of tho treasury department. In making their ruling tho treasury officials held that tho present situation situa-tion In tho grnln market Is duo to speculation and that tho recent flue tuatlons In prices havo been duo to manipulation nnd not to conditions affecting supply and demand. The treasury officials are understood under-stood to havo ovldenco that there has been a recent attempt to cornor wheat and It was feared that tho acceptance ac-ceptance of wheat and grain warehouse ware-house rocolpts would assist tho market mar-ket manipulators. At tho present time with high prices pric-es and an apparently ample domand from tho government nld will bo with hold from tho grain Intorests with tho exception of such general aid as may follow the efforts of the govern-' govern-' ment to establish tho carriers. |
