COMMODITIES: How Much Speculation?

The nation still did not know the names of the big speculators in commodities (see NATIONAL AFFAIRS). But last week Commodity Exchange Authority Administrator J. M. Mehl told the why and the how-much of the boom on the commodity exchanges. Said Mehl: high margins on the stock exchanges (75%) had "curbed" speculation there. The money had "sought an outlet" in commodities where some margins have been as low as 10%.

How heavy was the flood? In the twelve months ended June 30, said Mehl, the dollar value of regulated commodity transactions rose to $33 billion, more than double the previous...

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