Word: winnipeg
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Dates: during 1970-1979
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When the Cardinals dropped Crone, he hit the Canadian trail to toss a few aerials in Winnipeg. After three weeks of the Northern circuit, it was back to semi-pro ball in New England...
...Hockey League, where sharp play and packed arenas were traditional, attendance has begun to slip. and there is a shortage of top performers. "There used to be 18 true professionals on each team," says Bobby Hull, the former Black Hawks star who is now player-coach of the W.H.A. Winnipeg Jets. "Now there's an influx of mediocre pros, guys who don't put out every night. There's an inability to perform the fundamentals. The skating isn't keen, the passing is off, and the hitting is not strong...
...political jockeying in the Middle East, rumored tax increases in Japan. In the chateau's former living room, a dozen or so executives scan an electronic quote board which tells them the price of soybeans in Chicago, wheat in Kansas City, rapeseed in Thunder Bay and oats in Winnipeg. On the basis of that information, Cargill executives decide what to buy, sell or hedge, often risking sums approaching $ 100 million...
This week in Canada the 350 members of the Winnipeg Grain Exchange are expected to approve the opening of the world's first market in gold futures. (They also plan to rename their organization the Winnipeg Commodities Exchange.) The buyers-both speculators and the big industrial users-would be people who expect the price of gold to rise. Working through a broker, they would put up 10% of the purchase price and get a contract for delivery at a future date up to 18 months away. Sellers would be people who expect the price to fall...
Piece of Paper. In the U.S., where the ownership of gold (except in jewelry, dental fillings and a few other nonmonetary forms) has been illegal since 1933, Winnipeg's plans may foreshadow a new tiff between the Treasury and investors. Some investors claim that the technicalities of futures trading make that particular form of gold dealing perfectly legal. After all, most speculators in futures dispose of the commodity without ever taking delivery. The holder of a gold futures contract would merely keep, and eventually sell, a piece of paper-in much the same manner that investors in gold-mining...