Word: onion
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...Chicago Mercantile Exchange, the giddy fluctuations in onion prices seemed very suspicious to the Commodity Exchange Authority. Beginning at $2.75 per 50-lb. bag last August, the price skidded t010? by mid-March. Last week the Commodity Exchange Authority formally charged that it had sniffed out-as it suspected-a price manipulation plot...
...said that the market-rigging had been directed by a New York onion grower, Vincent W. Kosuga, and a Chicago produce distributor, Sam S. Siegel, in a deal with 13 onion growers. But partway through, said CEA, the city slickers seemed to have doublecrossed the growers, who lost heavily...
Last autumn, charged CEA, Kosuga and Siegel bought 928 carloads of onions, which were shipped to Chicago and stored. This constituted 98% of the onion stocks available in Chicago for onion futures delivery. They then asked 13 of the growers to buy onions, threatening to dump their onion holdings on the market and force down prices if the growers refused. The growers accordingly bought 285 carloads for which they paid $168,000. In return, Kosuga and Siegel promised to hold their onion stocks off the market until March 1956, thus supporting the long side of the market...
Many experts outside Hungary concede that Sandor & Co., given a little help from some less talented trackmen, will not disappoint their countrymen: Hungary may be a small onion in the international goulash of sport, but it is a country with a determination to win. Explains ex-Sprinter Jozsef Sir (pronounced sheer), commissar of the track and field section of the sports council of the Ministry of Culture: "We train. That is our secret...
...champion's corner, only Basilio himself seemed unconcerned. The one-time onion farmer from Canastota, N.Y. had taken the title away from DeMarco with a twelfth-round technical knockout last June; he saw no reason why he could not do as well again...