Word: milnor
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Dates: during 1930-1939
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...Clarence Elmer Huff, president of Farmers National, asked Secretary of Agriculture Hyde to cancel the Board of Trade's license as a futures market. Secretary Hyde said he would withhold expression until after the Updike case was settled. Angry at the way it was settled, George Sparks Milnor, general manager of Farmers National, last week said the Government would be urged to revoke the Board's license at once. The Board's defense will be heard next week by a commission composed of the Secretary of Agriculture, the Secretary of Commerce, the Attorney General...
Unable to find foreign purchasers for its wheat, the Federal Farm Board last week reverted to an antique form of barter to help reduce its surplus. Into the Brazilian Embassy on 18th Street marched George Milnor, who as general manager of Grain Stabilization Corp. is official custodian for some 200,000,000 bu. of U. S. wheat. There he was greeted by suave, dark Ambassador Rinaldo de Lima e Silva. After exchanging amenities, they sat down together at a table, squiggled their names to a document. When they got up and shook hands, the U. S. had contracted to trade...
Meanwhile the Farm Board's wheat stablization operations produced topsy-turvy economic results. In the face of a falling world market the Board bought Chicago wheat around 76? per bu., pegged the domestic price at that leve. George S. Milnor, president of Grain Stabilization Corp., declared: "Domestic conditions do not justify lower prices and this company will continue . . . to maintain the present or a higher level...
...looked like Panic for a while, with millers cancelling their orders, traders dumping their holdings, farmers selling their crops. Then Mr. Milnor received from Chairman Legge of the Farm Board a blanket order to go into the pit and buy. He did, vigilantly spent at least $1,000,000 a day. He met every December offering at 73? per bu. or higher. When he finished, Grain Stabilization Corp. had added some 20,000,000 bu. of wheat to the 60,000,000 bu. it had held since last spring and the 24,000,000 bu. it had taken...
...Milnor felt satisfied, even triumphant, because the Stabilization Corp. had at last stabilized something. The Chicago wheat price had stayed where the Farm Board thought it ought to, 18? to 20? above Winnipeg and other world markets. The Board had turned its dismal failure of last Winter (TIME, March 10 et seq.) into a signal success. Wan but glad Mr. Milnor told newsgatherers: "I know that not only in grain circles, among millers, bankers and businessmen, but in Washington, a new attitude toward this action has developed overnight. If the Farm Board never did another thing, it will have justified...