TRADING IN AMERICA.

Auckland Star, Volume LXI, Issue 228, 26 September 1930, Page 7

TRADING IN AMERICA.

Inquiry Into Short Selling on Chicago Market. OFFICIALS DISAGREE. » . , ,} (JJnited P.A.—Electric Telegraph—Copyright) (Received 9.30 a.m.) WASHINGTON, September 25. Mr. A. M. Hyde, of the Department of Agriculture, and Mr. Silas Strawn, counsel for the committee of the Chicago Board of Trade, revealed that they have made no progress toward agreement upon the effect of the alleged Russian wheat sales.

This followed a conference between Mr. Hyde and the' Chicago Committee, at which Mr. Hyde's assertions of Russian short selling had a serious. effect upon the market. It is denied that Mr. Hyde continued to insist that it was important that short selling should bo stopped while the board representatives declared that trading had only'-a "negligible effect 011 the market." Coincident with the news of depressed wheat prices at present prevailing the Federal Reserve Board announced that ample funds are available for marketing and financing this season's crops. The board says it will render farmers all possible assistance and place at their disposal credit facilities at exceptionally low rates. Mr. Hamilton Fish, chairman of the Committee of the House of Representatives, which is investigating Communists' activities, has telegi-aphed to the Prime Minister of Canada, Mr. R. B. Bennett, suggesting that he send representatives to attend the committee's inquiry into the Soviet's short wheat selling at Chicago.