Word: leon
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Dates: during 1940-1949
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Last week Leon Henderson found that his price domain ends at the water's edge. He tried to monkey with the price of coffee, and ran into the Department of State, which is in the coffee business itself...
Defying laws of supply & demand, coffee has been moving up on all fronts at once: stocks, imports and price (see chart). So Leon Henderson called to his deskside the men who live by coffee. He knew that a number of leading operators had been wisely stocking up, while small fry, caught short, bid up the price. He proposed a Government inventory of all coffee, and even asked the big fellows to release stocks and correct the maldistribution. The meeting was unwieldy, and broke up with little done. Henderson's next step would normally be to fix all coffee prices...
...Leon Henderson were to answer these Latin floors with a U.S. ceiling, Brazilians would yell. It would have a bad effect on the milreis-likewise on the good-neighborly State Department. But if shipping space gets scarcer, the price of coffee may get too high even for State. In that case some sort of import control would be necessary...
With prices popping around him like popcorn in a fire, busy Leon Henderson last week...
...weeks later Weir kicked again. Having upped steel's operating costs by the wage increase, he sided with Leon Henderson in his effort to freeze prices at pre-raise levels...