Word: cocoamen
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Dates: during 1940-1949
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...only trying to protect the native grower "from short-term fluctuations of world prices." They denied any intention of nullifying the United Nations' economic agreements (see above). But to U.S. cocoa importers these protestations had a hollow ring. British price-fixing had little effect in wartime, when U.S. cocoamen could buy only what was allotted to them by international agreement, and could sell only at ceiling prices. Now, with ceilings off and allocations due to go Jan. 31, importers were hoping for a free market...
...British sold 30,000 tons just before domestic ceilings were removed. But since then they have failed to offer a single ton. Meanwhile, prices on the New York Cocoa Exchange have soared from 14.5? to 19.75? a pound. In their dingy offices on Manhattan's Beaver Street, cocoamen fumed: "The squeeze...
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