Word: copper
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Dates: during 1930-1939
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While the world's blatant headlines were yammering as though Germany had already swallowed Austria politically, economic alignment-of far greater.immediate importance to both countries-was discussed. To Austria German industry looks hungrily for iron and copper (see map, p. 21) and the Reich can use some Austrian timber. To Austria-which was lost from many of her sources of wealth by the post-War partition of her empire-Germany can offer wider economic horizons if Economic Plan Dictator Goring chooses, and not otherwise. That the two nations may form a customs union is now highly probable. Since...
...Deal objective was to raise commodity prices to the level of the ''normal'' year 1926. Last spring, when the commodity price level (Bureau of Labor Statistics) was still only 88% of the 1926 norm. President Roosevelt announced that commodity prices in general and steel and copper prices in particular were too high. His remarks precipitated a worldwide slump in commodity prices, which have fallen almost steadily since, were last week back to 80% of the 1926 norm.* Last week Franklin Roosevelt once more delivered himself on commodity prices...
Since February 1933, the general U. S. price level has risen 32%, cost of living 24%, prices of farm products 118%, wholesale prices 45%, Moody's index of spot prices of basic commodities 140%, prices of copper 188%, lead 115%, eggs 73%, flour 69%. Listing these figures and many others in the December Atlantic Monthly, Princeton Professor Edwin Walter Kemmerer commented: "That is inflation." Economist Kemmerer expects commodity prices to rise some 69% more and the cost of living to double. Nor is this a lone-wolf stand. Harvard's Professor Melvin Thomas Copeland made similar predictions last...
...great number. Commodity Corp. uses the same procedure, but instead of buying stocks and bonds, it buys actual commodities or commodity future contracts. On December 31, 35% of its portfolio was in the warehouse, 65% in futures. It had future contracts to buy or sell in cocoa, copper, corn, cotton, hides, oats, rubber, sugar, wheat, wool and pepper. In the warehouse it held cocoa (179,482 lb.), lead (659,836 lb.), pepper (785,600 lb.), rubber (67,036 lb.), sugar (1,344,000 lb.), wool (51,751 lb.) and zinc (120,046 lb.). An investor who held 2% of Commodity...
...Webb-Pomerene Act was passed which had the effect of enabling U. S. businessmen to join up provided that no restraint of trade within the U. S. was involved. U. S. businessmen joined up both officially and unofficially in many cartels, including those for heavy chemicals, rubber and copper. But steel has refrained chiefly for the reason expressed by onetime President W. A. Irvin of U. S. Steel: "With 49% of the world's capacity, we had at home in 1935 but 35% of the world's consumption. On this basis alone we are justified in seeking...