Word: sugar
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Dates: during 1950-1959
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...states across the northern border. But sap was rising early to branch and bud; despite flurries of wintry weather, there had already been days of sun in the coldest states, when gutters tinkled musically to streams from melting drifts. Many Vermont farmers had buckets out in their maple-sugar groves. Though Lake Erie is normally frozen solid far into March, the Nicholson Transit Co. freighter James Watt made a trial run from Detroit to Toledo last week, and found only one insignificant patch of drifting...
...world's biggest sugar operator is a little known Havana trader named Julio Lobo. A short, imperious man of 54, Lobo has more to do than anybody else with determining the world price of sugar. He handles about half the entire Cuban crop, at least a fourth of the Puerto Rican and Philippine crops, owns or controls up to 30 Cuban sugar mills, and dominates the market everywhere. "I am the market," he says. "I buy and sell sugar any time, day or night." Last week, as Cuba's 5,000,000-ton sugar harvest rolled toward...
...judgment," Lobo says, "with good, fast, accurate information, courage and cash." Powerful though they are, even the big U.S. refiners find it unprofitable to buy at any time and in any quantity and thus compete with Lobo; in practice, they have to come to him for their Cuban sugar, and sometimes pay through the nose...
Born in Caracas, whence his banker-father fled to Havana after a turn-of-the-century revolution, Lobo was schooled in sugar-mill engineering at Louisiana State University. He learned sugar marketing in the hard times following World War I, when he was called home to put his father's factoring firm of Lobo y Cia back on its feet and soon earned a reputation as a top trader...
...that he can spend more time with "my mistress, sugar," he has fitted out a penthouse over his office. Even when he travels, as he often does, to Europe, the U.S. and South America, Lobo deals in sugar day & night by international telephone. "This business needs me," he says. His name in Spanish means "wolf"-"lone wolf," he explains with relish. Evenings, he says, when the last of the day's 500 cables have been answered, "I like to walk alone from my office to the harbor. There I can sit on the edge of a pier, gaze...