Word: wool
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Dates: during 1940-1949
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...last two years Lanchow has meant even more to the "Free China" of Generalissimo Chiang Kaishek. It is the eastern terminus for the much-needed war supplies that come from the Soviet Union. Instead of the wool, fur, brick tea, vegetable oil and camel hair that used to be the lifeblood of Lanchow's trade, now airplane engines, bombs, ammunition, gasoline, military trucks are the chief commodities. The city is also the concentration point for China's slowly building Air Force. So important a military secret has Lanchow become in the scheme of war that in two years...
Romney March, Corriedale, Polwarth, Southdowns, Ryelands are not the names of Pullman cars. They are the names of Australian sheep which grow one-fourth of the world's wool, about 900,000,000 lbs. The U. S., Britain, France, Belgium, Japan, Germany are ordinarily big buyers...
When World War II broke around wool men's ears, Great Britain impounded the entire wool supply of Australia, plus New Zealand's 300,000,000 lbs. For four months Britain sat on her wool, while U. S. mills which need Australian wool for apparel and blankets fidgeted and watched their supplies run low. The spot price of wool tops climbed from 82½? to $1.31 a pound, and still Britain did not get around to releasing...
...Australian Central Wool Control was set up to manage the flow of wool, but no wool flowed. Even in the House of Lords, His Majesty's Government got a rap on the knuckles for not telling the U. S. and Canada promptly how much Australian wool they could have...
...finally came off last week: 22,500,000 lbs. of Australian wool made available to the U. S. American buyers promptly bought 4,800,000 lbs. for $2,500,000 at prices about those for equivalent grades in the U. S. market. Purchases would have been larger but for the following factors: the buying season was at year's low ebb; the buying machinery creaked; since the beginning of war U. S. mills had tapped South American and South African markets for about 50,000,000 lbs. Then the purchasers had a fresh worry: transportation. Because of war-interrupted...