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...last year, hardly moved off bottom until this spring. But by last week the Annalist index "in U. S. dollars" was pushing into the highest ground in more than three years. Despite a sudden rush of profit-taking which once again tumbled wheat below $1 per bushel and unsettled all cereals, corn soared to 58? (last year: 45?). Three successive winters favorable to chinch bugs had raised Corn Belt infestation to menacing proportions. Officials had counted as high as 5,000 pests to the square foot. Furthermore, the swarming insects were deserting drought-withered grains and grasses for the nearest...

Author: /time Magazine | Title: Business: Commodities | 6/25/1934 | See Source »

...hearing in the walnut-paneled, air-conditioned courtroom in the Federal Appraisers' Stores building. But a band of Texas farmers trooped in when the hearings began fortnight ago to see if they could find out "what becomes of our wheat and why we got 25? a bushel." They heard that: 1) Trader Cutten had been 11,000,000 bu. short of wheat in one day in 1926; 2) although the Government was not prepared to say Trader Cutten's activities had depressed the market, still when Trader Cutten had gone short 7,000,000 bu. in June...

Author: /time Magazine | Title: Business: Trader & Trial | 6/4/1934 | See Source »

What Did Not Happen, and what President Roosevelt wanted most of all, was a thundering upward surge in commodity prices. Wheat moved up a paltry 1? per bushel to 92?, cotton added less thian ½? a pound. But corn, oats, rye, barley remained practically unchanged. Commodity tables duly recorded the weekly range of gold per ounce: low-$34.45; high-$35; last...

Author: /time Magazine | Title: Business: What Did Not Happen | 2/12/1934 | See Source »

...pedagog. When the first version of Der Untergang des Abendlandes (The Decline of the West) was finished, he could find no German publisher, brought it out in Vienna. By 1923 it had become a world affair, reached the U. S. in 1926. No longer hidden under a bushel of schoolboys' papers, Spengler's threatening light shines now from a huge-roomed Munich apartment overlooking the Isar. He has collected many a painting and objet d'art, a library of several thousand volumes. Said he once: "There are two more works that I have to write. When they...

Author: /time Magazine | Title: Books: Spengler Speaks | 2/12/1934 | See Source »

...Robbery." Appropriate bills were rushed to both Senate and House, and the President promptly issued three executive orders tightening the Government's control over gold and foreign exchange. Speculators hailed the five proposals as inflationary. Stocks soared, wheat jumped 4? a bushel, cotton $2 a bale. But most businessmen, who regard the dollar's stability as more important than its value, heaved a sigh of relief. And their feeling was reflected in a rising market for both Government and corporate bonds. Said the Baltimore Sun: "It is a paradox that a Presidential message which proposes to perpetuate revolutionary...

Author: /time Magazine | Title: National Affairs: Proposals | 1/22/1934 | See Source »

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