GAMBLE IN WHEAT.

Manawatu Standard, Volume XLIV, Issue 1075, 23 July 1924, Page 5

GAMBLE IN WHEAT.

AMERICAN RING’S OPERATIONS

LONDON, July 21. Standard flour has risen a further shilling in London to 45s 6d, as compared with 37s 6d at the beginning of May. The Daily Express says that the British consumers arc being hold to ransom by an American ring, which hopes to gain the votes of tho Western farmers, thus ensuring a Republican victory at the Presidential election. Nothing equal to the present gamble has taken place since the Loiter boom. Members of tho Baltic Exchange say there is no panic in London, but the market is very nervous.

Other English experts are of the opinion that the American syndicate .will burn its lingers badly as there is no reason to believe there is a deficiency 6f the supply for the United Kingdom. Evotf if there is a deficiency in the Canadian and United States crops, the South American crops will make up the shortage.—A and N.Z. cable.

ALLEGATIONS OF A CORNER

Received Julv 23, 12.5 p.m. LONDON, July 22.

The question of an increase in the price of bread and flour, in which connection allegations relating to a wheat corner have been made by a section of the press, was raised in the House of Commons by Mr Kingslev Wood, replving to whom Mr Webb, President of the Board of Trade, suggested that the advance in the world's prices of flour might be attributable to the unfavourable harvest prospects in Canada and the United States. Mr Kingsley Wood pointed out that the price of London flour was raised Is to-day. He suggested that the operations of speculators were causing the increase in the price. , , . Mr Hannan suggested that speculation occurred in America. Mr Webb said be had no knowledge of speculation on either side of tho Atlantic, but when there was apprehension of a scarcity there was always a certain amount of speculation.—A. and N.Z. cable.