Word: merchanted
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Dates: during 1930-1939
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...White House in Washington last week Eleanor Roosevelt lay on her back recovering from grippe and thinking kind thoughts of the world-kind thoughts of the venerable G. A. R., whose martial music she could hear through her window; kind thoughts of Steve Vasilakos, the peanut merchant on whose behalf she interceded for the second time when police tried again to oust his pushcart from the White House corner; kind thoughts of her own husband. For as Mrs. Roosevelt reported in My Day, the President "asked Mrs. Scheider who was doing my column and she said, 'Mrs. Roosevelt...
...evening to see more gaiety with Mr. Pickett, the merchant, and his lively daughter, Rose. The college buildings lighted to proclaim the occasion and Cambridge filled with visitors. A marvel it was to see the throng a happy yet well-mannered. Austin, Jr., along again, and back with him to Hollis before the curfew telled at ten. Soon into bed, tired from merry-making, to dream dreams of purlian ancestors founding a "schoale or college...
Like any big cotton merchant, Anderson, Clayton & Co. is always operating on the New York Cotton Exchange. Its operations are so tremendous that it has its own separate member firm, Anderson, Clayton & Fleming. But these operations are solely confined to hedging, which is the reverse of speculation...
Squeezes. In the normal course of hedging operations the cotton merchant sells futures contracts short, but unlike the speculator he actually owns an equivalent amount of real cotton. As one contract matures, say July, he switches into another, say October, to keep his insurance in force. This switching makes the merchant vulnerable because the July contract, which he has to buy back, may be squeezed up at the last moment, whereas the October contract, which he plans to sell, may not rise at all. The only way he might avoid loss is to deliver his real cotton against his contract...
Cotton is a complicated subject on a domestic basis. On a world scale it is staggering. Aside from the difficulties introduced by foreign exchange and local preferences, international cotton merchants have to think, deal, quote in terms of a thousand different kinds of cotton. In the U. S. alone official standards specify 37 different grades on quality, 20 grades on staple length, offering in combinations no less than 740 possibilities. Will Clayton s not only an international cotton merchant but a profound student of economics. When he travels, usually by plane, his brief case is always jammed with earned tracts...