Word: market
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Dates: during 1930-1939
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...season finds these huge holdings reduced to approximately 3,500,000 bales. . . . Not having been slow to criticize Government entrance into the cotton market, it is a pleasure now to commend the wisdom of decision and the skill of execution in liquidation of Government cotton holdings...
...operating two buying pools, one in East Texas, the other in Oklahoma and the nearby mid-continent fields, through which they "concertedly purchased large quantities of gasoline in spot transactions from independent refiners at artificial prices which they sought to and did establish and maintain as the going market prices"; 2) selling gasoline to some 4.000 jobbers under long-term contracts in which the price would be determined by the average of the spot market prices published in the Chicago Journal of Commerce and Platt's Oilgram...
...result, according to the indictment, was that large sums of money were arbitrarily extracted from jobbers. Furthermore it was specifically charged that the defendants were still attempting to stabilize prices by taking ''distress" (i. e., excess) gasoline off the market, particularly in the East Texas fields...
...idea of forming pools to buy up surplus gasoline reached oilmen from Washington in 1933 when East Texas skimming plants were playing hob with the market. First pool buying was done in 1934 under the direct supervision of Secretary of the Interior Ickes acting as administrator of the petroleum industry. That year he said: "I feel that this plan is a real move toward stabilization of the oil industry." The program, however, did little good, largely because the East Texas refiners and some major companies could not be persuaded to join the pool. Month after his announcement, Secretary .Ickes made...
...been brought to my attention that the market for gasoline and other petroleum products has recently been disturbed by numerous price wars. . . . This has resulted in petroleum products being sold below cost in some areas in order to meet unrestrained competition. . . . Price wars necessarily injure small independent marketers. . . . Therefore, I am requesting and authorizing you, as Chairman of the Marketing Committee, to designate committees for each locality when and as price wars develop, with authority to confer . . . and in a co-operative manner to stabilize the price level to conform to that normally prevailing in contiguous areas where marketing conditions...