Word: cottone
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
...Southern members of the Farm Bloc were on the warpath last week. They were out for: 1) higher cotton prices, and 2) the scalp of the New York Cotton Exchange...
...lobby braves were led by William Garrard, of Greenwood, Miss., general manager of the Staple Cotton Cooperative Association. He protested that because December cotton futures were quoted at $9 a bale under March prices, the Exchange was "offering price destruction instead of price insurance." The Senate braves were led by cotton-loving Senator James Oliver Eastland of Mississippi, 38, colleague of the pecan-growers' friend Theodore ("The Man") Bilbo. "Cotton Jim" Eastland proposed that Congress investigate the Exchange because "certain big interests are rigging the market...
...fact, high price for spot cotton, which a fortnight ago climbed above 21? a lb.-a 15-year high-was the result of a boost in the parity price, and Lend-Lease. In the past month Lend-Lease bought 330,000 bales for immediate shipment. The lag in futures quotations reflected the pessimism with which traders and cotton buyers view the future...
...fact, also, the cotton market is so manipulated politically that, while everybody else loses, the potent 2,000,000 cottongrowers cannot. Commodity Credit Corporation must lend them up to 90% of the parity price for their crops. If prices go up, the growers can reclaim their cotton for private sale. But if prices start downward, an artificial scarcity is created. For eleven years cottongrowers have unloaded their surpluses on the U.S. taxpayer, and have used the taxpayer's money to build a firm floor under cotton prices. CCC cotton holdings last month: seven million bales...
Textile manufacturers, squeezed between artificially higher cotton prices and OPA ceilings on their finished goods, protest that no cartel ever dared to manipulate supply and prices so brazenly...