Show GAPPER CAPPER ACT NOT CAUSE OF DROP secretary coverdale says hysterical interpretation the capper act sponsored by the american farm farin bureau federation as the proper means of restraining in the undesirable feature of speculative dealing on the grain exchanges la Is nut responsible tor for the decline in wheat prices according to secretary john W coverdale it if wheat Is down for this season why should corn be up N hen it is traded in in exactly the same way and subject to the same regulations asks mr coverdale he continues corn Is around 22 cents higher than a tear ear ago and wheat about 14 cents lower hysterical interpretation of supply and demand statistics has carried wheat prices lower than the facts justify speculation on the exchanges Is highly sensitive and has inclined to exaggerate the facts in ills his administration ot of the aop per law the secretary of agriculture rl ri has asked dealers to file rt reports of purchases and sales of individual customers in excess of WO GOO million milion bushels bus liels if buyers kept out of the speculative market because they were required to file these reports why should not sellers stay out also if both retrained refrained from dealing their lack of activity would be offset on each side it Is wrong to hold tile the capper law or its administration responsible foy fo present low wheat prices acting secretary of agriculture states there Is no restriction or restraint in the form of an arbi arary limitation on trading at the pros pres tit time and there Is no nobal noB nL x I 1 furthermore standing similar agitation in grain trade for the past several months our records now show that total volume trading in may wheat futures was in n excess of same month in preceding year when present regulations ns under tinder grain futures act were promulgated secretary wallace issued a statement deprecating the hersl lent rumors which have come out of some markets to the effect that administration of this law would drive operators out of tile the market and cause severe ere decline in prices |