Word: chlebtorg
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...short sales was definitely established when the House committee investigating Communism questioned E. Y. Belitzky, vice president of the all-Russian textile syndicate, and the three New York grain brokers to whom he gave his selling orders. Comrade Belitzky revealed that he received by trans-Atlantic telephone instructions from Chlebtorg, Hamburg agency of the Russian grain trust, to sell 7,765,000 bu. of wheat in Chicago. According to this witness, Russia had the wheat to sell abroad but, pending delivery, decided to use the Chicago market to hedge the sale as a form of price insurance. Hedging, he said...
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