Report of the Federal Trade Commission on the Grain Trade, Volume 7

Front Cover
U.S. Government Printing Office, 1926 - Grain trade
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Contents

Services and costs of hedging
67
Nature and effect of pit scalping 888PPEEPSPPSSPP PPP PPEPP83579
69
to 1915_
82
Hedging described
83
VOLUME OF FUTURE TRADING
87
Estimated quantities of wheat corn and oats futures dealt in during
92
Quantities of future trades in wheat corn and oats open on the street
92
Pit scalping as an element in futures
100
No Pago
105
by houses by grains Chicago futures 1915 to 1917
116
Monthly net of purchases and sales by groups of clearing members
122
Net open between groups of clearing members for Chicago futures
129
Net long or short position of the different groups of clearing members
134
No Page
136
Percentage distribution of net open wheat future trades at Kansas
142
RESULTS FOR CLASSES OF TRADES AND TRADERS
146
Percentages of the quantities in the card data for each market
148
Life of open trades
155
General average elapsed days days open including same day
163
No Page
164
Results as regards comparative gains and losses per bushel by
171
Gains and losses per bushel and average elapsed days days open
177
Comparative quantities of futures traded in at specified gains
178
Percentage distribution of trades quantities for each grain by occu
182
Per bushel gains and losses on same day long and short trades
188
Occupational classification of future trading customers of eight
195
Average elapsed days for long and short trades held open one
205
CHAPTER VISERVICES AND COSTS OF FUTURE TRADING
207
Speculation essential to hedging
209
Combinations of interoption spreads 10year averages in the various
212
CONCLUSIONS AND RECOMMENDATIONS
275
The promotion of stability of prices
289
The responsibility of the broker
295
Further problems and recommendations
305
A Data of future trades for certain Northwestern elevators and mills
311
terminal elevator crop years 191415 to 191617
312
Hedges of elevator A in wheat futures by options for all markets
314
company referred to as mill A 191314 to 191617
318
company
327
Wheat hedges of three New York exporters and of three middle west
330
Ordinal analysis applied to the relation between the scalpers share
330
Percentage distribution by options of the futures of certain elevators
331
Forms used for future trading returns for data prior to 1918
332
G Ratios of net of purchases and sales to transactions by groups
338
Card data for trades on the Chicago Open Board of Trade_
345
Chicago Board corn futures by individual options as specified
351
Price trends comparative long and short quantities and per bushel
355
Ordinal analysis with reference to the relation between the balance
357
The stream of trading in futures at Chicago
363
Stream of trading for December 1915 wheat at Chicago
364
months _facing
364
Stream of trading for May 1916 corn at Chicago by months__facing
364
Per cent distribution by months of the perforatedcard sample trans
364
P List of general tables relating to Chapter V
364
Ordinal analysis with reference to the relation between volume
369
R Wartime control of future trading
382
partiality of the settlement prices
388
Privilege contracts likewise disposed of
395
The revival in 1919 and final end in 1920 of restric
413

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Common terms and phrases

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Page 260 - All purchases and sales made by us for you are made in accordance with and subject to the rules, regulations and customs of the Chamber of Commerce or Board of Trade where the trades are made and the rules, regulations and requirements of its Board of Directors, and all amendments that may be made thereto. The contract is made under the authority of the Act of Congress known as 'The Future Trading Act.
Page 412 - That the provisions of this Act shall cease to be in effect when the existing state of war between the United States and Germany shall have terminated, and the fact and date of such termination shall be ascertained and proclaimed by the President...
Page 99 - or ' scratch sales ' or ' pass-outs,' provided that the purchase and sale are made at the same exchange, on the same day, at the same price, and for the account of the same person, or (e) the sales are made by a broker on account of a principal, and the name of the principal is not disclosed to the buyer, provided the principal sells to the broker the same quantity and the same grade and kind of grain at the same price, on the same day, on the same...
Page 305 - Justice. (c) When the governing board thereof prevents the dissemination by the board or any member thereof, of false, misleading, or inaccurate report, concerning crop or market information or conditions that affect or tend to affect the price of commodities.
Page 305 - ... to affect the price of commodities, and any member who shall knowingly or carelessly disseminate such report shall be suspended by the Board of Directors from all privileges of membership for such period as the gravity of the offense committed may warrant.
Page 380 - In case anv property contracted for future delivery is not delivered at maturity of contract, the president shall appoint a committee of three from the membership at large, to be approved by the board of directors, which committee shall determine as nearly as possible the true commercial value of the commodity in question on the...
Page 260 - Please take notice that all orders for the purchase or sale of cotton, coffee, grain and provisions for future delivery are received and executed with the distinct understanding that ACTUAL DELIVERY is CONTEMPLATED and the party giving the order so understands and agrees.
Page 260 - All orders for the purchase and sale of any article are received and executed with the distinct understanding that actual delivery is contemplated and in accordance with and subject to the rules, regulations, and customs of the Exchange upon which the order is to be executed and the requirement of its Board of Directors and all amendments made thereto, and that the party giving the order so understands and agrees."5 The customer pleaded ignorance of the exchange by-laws and rules and contended that...
Page xxi - SIR: I have the honor to transmit herewith a report of the Federal Trade Commission with respect to the sale and distribution of milk and milk products.
Page 403 - I enclose herewith for your information a copy of resolutions recently adopted by the board of directors of the board of trade of the city of Chicago relative to the prohibition ' by Germany and France of the importation of American hog products.

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