Word: grains
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Dates: during 1920-1929
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...Refused a reduction in Western grain rates. (Saved the railways...
...July 3, as everyone knows, the firm of Dean, Onativia & Co., stock and grain brokers, were placed in a receiver-hip, with liabilities of about $36,000,000 and assets of about $35,000,000. Because of the size of liabilities, the insolvency was declared to be a record for size on the New York Stock Exchange...
...receivership has lasted only a little over two weeks. No suspicion of illegal or unethical practices has existed, the insolvency having been plainly caused by a shrinkage in value in the firm's assets, notably in its holdings of stock in the Rosenbaum Grain Corporation...
...Grain Marketing Co. undertook to operate the leading Chicago terminal levators on lease. Now, however, being unable to fulfill its obligations under the lease, the constituent companies will be turned back to their original owners. Already the Armour Grain Co. and the Rosenbaum Grain Corporation are leaving the temporary merger, with others possibly to follow suit shortly...
...Grain Marketing Co. was favored by a huge rise in wheat prices during its incumbency. Yet it failed to remove speculation from grain trading, as some had claimed it would, and also failed to prove any very profitable enterprise from a commercial standpoint. The only value in the experiment of letting farmer-representatives try their hand at running the terminal elevator business, apparently, has been to prove to them that it is not quite so simple as they had thought. Now, perhaps, individual companies in this field will be less hampered than formerly by legislation passed in the supposed interests...