Word: grains
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Dates: during 1940-1949
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...Enriched white bread is a better source of iron than whole wheat; the phytic acid in the whole grain makes much of its iron indigestible...
Exchange directors gulped, quickly shifted ground to allow trading in old contracts only at new ceilings. Thus the pinch was put on traders who had sold "short" (i.e., sold grain they didn't own in hopes of buying it at a lower price before the delivery date). They stood to lose an estimated total...
Instead of opening the exchange, the board went to court itself. It got another federal judge, Elwyn Riley Shaw, to dissolve the Holly order. Said Judge Shaw: "Just because one man is short is no reason for suspending operations of the world's largest grain market...
Finally, at 11:30, the big bell rang. After the delay, trading (in old futures at the new ceilings) was even more lively than usual. By week's end, all grain prices were up to their new ceilings at Chicago and the luckless "shorts" stood to lose their shirts. The Cargill suit was still pending. Robert Buckley (suspended from trading on a technicality) was still fighting mad and might go to court again. Nobody was selling confusion short...
Little businessmen along George P. McNear Jr.'s Toledo, Peoria & Western Railroad were tired of the four-month strike on the road which had kept them from shipping grain, coal and steel. They were also mad enough four months later to do something about it. Nineteen shippers made up a $10,000 pool, used it to hire a smart lawyer. He went into Federal Court with a novel plea: the T. P. & W. (though highly solvent), was "physically bankrupt," so a receiver should be appointed to run the trains...