Word: duvel
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...Board of Trade have held hearings and Farmers National has dissolved, partly as a result of its losses from the corner (TIME, Feb. 7). Refusing to make any defense before the Chicago Board of Trade, Cargill laid its case in the hands of CEA Chief J.W.T. Duvel, has since maintained a wounded silence in its head offices at Minneapolis, awaiting the CEA decision in mid-April. Sniffed Cargill Attorney Weston B. Grimes: "It is not surprising that a committee of our competitors should find our purchases of September corn to be offensive...
...became apparent that shorts could not cover their obligations in time except at the longs' terms. Farmers National Grain Corp., leading U. S. grain co-operative and a leading short, formally complained to the Commodity Exchange Administration, charging "major manipulation." C.E. A. Chief J. W. T. Duvel cracked back with a stinging rebuke : "Every time there is a price rise or fall, there is an outcry from those who lose money." Two days later, however, having already tripled margins and taken the unusual step of ordering traders to reveal their market positions without easing the strain, the Chicago Board...