Word: onions
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...muzzles of machine guns point out over the huge (pop. 4,000,000), busy city of Moscow. Inside the Kremlin's walls, the tiny wooden church of Our Saviour of the Pine Forest, long since shorn of its bonds to God, nestles beneath the great golden domes and onion-topped towers of the Uspensky and Arkhangelsky Cathedrals, which are now museums...
...heart went out in solemn sympathy to Farmer Sam Kennedy [TIME, April 10],whose onion price gamble left him $90,000 short. What a tragedy! And what an example of fortitude not to be crushed by that calamity, but to plant, notwithstanding the loss, a full crop of onions for this year's market...
White-haired, keen-eyed Sam Kennedy, Iowa's biggest onion and potato grower, last week finished a distasteful task. Across a 40-acre field on his farm near Clear Lake, Farmer Kennedy dumped 30 carloads of red and yellow globe onions. He put them there to rot. Like many another grower, Kennedy had been caught when onion prices, unsupported by Government props, collapsed a fortnight...
...Chicago, which, in Ojibwa, means "wild onion place," onions were indeed running wild. So many carloads of onions poured in and jammed railroad yards and warehouses last week that the Association of American Railroads slapped an embargo on further shipments. Reason for the glut: farmers had held their onions off the market in hopes that last autumn's cloud-high prices would reach the stratosphere (TIME, Sept. 26). But when the prices started to drop, farmers hurriedly dumped their holdings. Under the avalanche, prices collapsed. From a high of $5.05 a 50-lb. sack last September, onions skidded...
What started the onion boom was a Government forecast of a short crop-27.2 million sacks v. 31.6 million last year-and a trader's hunch that the Govrnment forecast was too high. As he started to buy, traders who were caught napping two years ago when a short crop swept the price up from $3.80 to $6.50 jumped...