GRAIN GAMBLING
SPECULATOR’S CRASH TO P-lIEA V Y OPERATIONS i United Pres# Association—fly Klectrii TeA«tcrapc—Copyright.) CHICAGO, August 14. Surprising' facts are being disclosed by the Government inquiry into the recent debacle on the Chicago and other wheat exchanges'. ,
One report alleges that two members of'the Business' Conduct Committee of the'Chicago 'Board of Trade were aciitally 'tne brokers for “Doc” Crawford, the New* Orleans dentist, whose. gigantic top-heavy operations were the main cause of the market 'breakdown.- They lent him assistance in providing margin to buy many millions of bushels of grain for which he; could not pay. Crawford at one stage of his operations was reputed to be worth £7,0“0,000, but'his gambling took him too far, and he crashed, ending with nothing. His crash brought the rest 6/ the market tumbling. The investigators insist that new* market regulations must be framed to prevent gamblers “getting-in” over their heads.
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Hokitika Guardian, 29 August 1933, Page 3
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148GRAIN GAMBLING Hokitika Guardian, 29 August 1933, Page 3
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