Word: marketing
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Dates: during 1940-1949
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...Peter Faneuil, warming his toes on the hearth one evening in 1740, decided things in Boston had gone far enough. Not the British, you understand, or the weather, but the markets. Peter, a wealthy merchant, was tired of traipsing all over town doing the family shopping; he wanted a public exchange center, an open market where he could get in out of the rain and cross off his whole list, from snuff to hops, at one time...
...Peter Faneuil told the town of Boston he would build "a noble and complete structure or edifice to be improved for a market" at his own expense, and would the town accept it? With Faneuil putting up the cash, how could Boston refuse? It took two years to build the structure--which not only had market facilities, but a large meeting hall on the second floor--and when it was finished, the town voted "that in testimony of the town's gratitude to the said Peter Faneuil, Esq., . . . the hall over the market place be named Faneuil Hall...
...Hall, as the good Yankees call it, burned in 1761. Peter Faneuil couldn't help rebuild it--he had been dead for 18 years--so the town raised money with a lottery. "Faneuil Hall Lottery Tickets" sold slowly, but eventually enough was raised to rebuild the market...
Today Faneuil Hall is still a market--on Saturday evenings Dock Square is a frenzy of buying and selling, pushcarts laden with produce, chatter in half a dozen tongues. And looking down from its perch high above the Tower squats the huge grasshopper weather-vane. Hammered from sheet copper in 1742 by Deacon Shem Drowne, this grasshopper has sat atop Faneuil Hall for 200 years. In the earthquake of 1775 it fell to the street and suffered a broken leg, but was run up again as fast as it could be repaired...
...waiving any claims to Aramco's oil, Gulbenkian will get a bigger share of Iraq Petroleum's oil (as will the French, who went along on the deal). Beginning in 1952, Gulbenkian will be able to buy the extra oil at a price halfway between cost and market price. When he sells, the proceeds will be protected against devaluation of the British pound; the American companies agreed to convert Gulbenkian's take into hard dollars...