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Dates: during 1940-1949
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...ways of boosting their markets by 1) removing the legal restraints from margarine (which uses cottonseed oil); 2) pushing the sale of cotton bags for feed by using prints convertible to dresses (TIME, Jan. 31); and 3) getting ECA to step up 1949 exports (which would otherwise be the lowest since the Civil War). The cotton growers, who use about 10% of all fertilizer, also looked at the big use of paper bags by that industry, estimated that judicious pressure there alone could step up cotton consumption from 16,000 to 275,000 bales a year...
Last week it came down. The Celanese Corp. of America, third biggest U.S. yarn producer, trimmed its prices of rayon (acetate staple fiber) by 12.5% to 42? a lb., lowest in its history. As other producers, weavers, converters and jobbers began cutting prices to the new pattern, the whole industry joined in its first big postwar price battle...
...McDowell unfortunately used highly dubious methods to try to got rid of the woman who was his opposite in penal philosophy. It might be fairer to the Commissioner to say that he allowed his deputy to use these methods. The activities of Frank Dwyer were continually on the lowest level. He never explained how two Boston newspapers obtained his false and sensational "report" last fall which made the Reformatory look like a riotous Bedlam. His means of gathering "evidence" were repugnant, to put it mildly...
...last fortnight's sharp drop in grain prices, traders last week hoped that prices might steady. Instead, the biggest sinking spell in a year hit the Chicago grain pits at midweek. In one day, all grain futures tumbled their legal limits. In the cash markets, corn hit its lowest price since April 1945 (at Chicago, No. 2 yellow corn dropped from $1.27 a bushel to $1.17). Oats and rye also broke through the levels of OPA days...
...bulged with the biggest shipment of grain-fed cattle in its history-and beef prices tumbled. Choice grades of beef which had brought a top price of $41.60 a hundredweight last summer were offered for as low as $25, only $6.25 above OPA levels. Hogs slumped $1 to $20.50, lowest since October 1946. But at the start of this week, both livestock and grains firmed...