Word: cocoa
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Good Job. Along with heading up a family-owned commodities brokerage trading in cocoa, coffee and rubber, Israel joined Bache in 1945. Last year when Bache, following the example of 138 other New York Stock Exchange members, switched from a partnership to a corporation, Israel was picked by Harold Bache to become president. Bache himself became chief executive, but Wall Street predicted that Israel would eventually move into that...
...labels American efforts "neo-colonial." His are the familiar complaints against the United States' moral crusade against communism: charges of economic exploitation and manipulation, cries of CIA conspiracies and engineered coups. Azikiwe maintains that the unrest in Ghana leading to Nkrumah's downfall was caused by an international capitalist 'cocoa conspiracy" which depressed the price of cocoa, Ghana's staple crop. Apparently the increased production of cocoa in Nigeria and the Ivory Coast had little to do with the falling price. Azikiwe is justified in condemning the mixture of "progressive and reactionary tactics" which the U.S. has employed in Africa...
Maginot Hilton. Ghana used to be known as the Gold Coast, and independence, in 1957, came with a silver lining. With cocoa exports thriving and the beginnings of a modern industrial plant, the country had $560 million in foreign currency reserves, boasted one of Africa's highest per capita incomes. Nkrumah squandered it on such expensive status symbols as an international jet airline, which loses almost twice as much money as it earns, and a $20 million international conference site which includes a bulletproof, bombproof, twelve-story apartment hotel that Accra wags call "the Maginot Hilton." To promote...
Half of Western Samoa's foodstuffs were gone: banana, breadfruit and cocoa trees, all flattened by a 100-m.p.h. hurricane. It was the worst since 1889, when another keening, killing wind sank three American and three German warships in Apia roadstead...
Peanuts & Petroleum. Even before Britain withdrew five years ago, Nigeria had a flourishing trade, exporting peanuts, cotton, palm kernels and cocoa and importing in exchange manufactured goods, foods and tobacco The first native millionaires made their money by competing with the white man for his trade. Among Nigeria's richest businessmen is Alhaji Sanusi Dantata 46, who buys and ships much of the rich Kano region's peanut crop. Dantata's agents last year bought 84,000 tons from small farmers, paid with traditional handfuls of coin counted out in dusty village squares. Sir Odumegwu Ojukwu...