WORLD'S WHEAT MARKET

Taranaki Daily News, Volume LII, Issue 68, 16 April 1909, Page 2

WORLD'S WHEAT MARKET

RESULT OE OVER-SPECULATION. , K«w York, April 14. hums and Toppaui, stockbrokers, New York and Chicago, have failed. Their liabilities are 1,200,000 dollars and their assets 500,000. The failure is due to speculation in May wheat. AX AMERICAN "PATRIOT." PATTEN'S REASON FOR THE ' CORNER. , Received April 15, 11.45 p.m New York, April IS. latten states he does not intend advancing prices further. He holds there was sufficient wheat to justify the corner only enough to raise the price to prevent shipping from the United States. The real difficulty is that the supply of wheat is not increasing proportionately to the demands of the world's population. A PERNICIOUS SYSTEM. By Telegraph.—Pras Association. Dunedin, Last Night. Tlie following resolution was passed by the Otago Trades and Labor Council at a meeting tonight:—That this Council directs attention to a cablegram appearing in the daily papers that a gambler, under the name of speculation, made £IOO.OOO i n a one day's deal ia wheal, and deplores the fact that the. commercial system of trading makes it possible for this to be done, more especially when it is gambling for the food of the people, and thus increasing the ;-ost, and further desires to point out that the same "speculations" take place in our own Dominion with the same results, and urges the workers to useevery endeavor to put a stop to this pernicious system.