Word: wool
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...musty auction rooms of Sydney's Royal Exchange, the wildest wool market in history got under way last week. Buyers pulled off their neckties and rolled up their sleeves as prices jumped in the heavy bidding carried on by burry-voiced Yorkshiremen, throaty Flemings, precise, high-pitched French. All Western Europe was bidding for this year's crop of Australian wool...
...crop was short because floods during the last three months had drowned some 4,000,000 sheep, disrupted transport of the clip to the market. When Auctioneer J. L. Brassil asked for bids on a lot of grease wool (i.e., raw wool) that would have brought 91? a Ib. only two months ago, a Frenchman quickly offered $1.12, lost out to a Briton who got it for $1.32. Said Auctioneer Brassil: "Never did I dream of such prices . . ." The average: 94?, v. 60? last season...
Bureaucratic Battle. This new agency will be the nearest thing to the old WPB -but still only a distant cousin, since many of the WPB powers will be spread among other departments. The Agriculture Department's Charles Brannan, for example, will control production of food, agricultural equipment, cotton, wool and other textiles. Interior's Oscar Chapman will regulate the production and distribution of electric power, gas, petroleum, coal and other minerals. Wage controls will probably be the special province of Secretary of Labor Maurice Tobin...
Craig used to drive around the front lines in a mud-spattered jeep, toting a carbine (he is an even better shot than most marines). Some marines claim that Eddie Craig has steel wool instead of hair on his chest and a 40-mm. gun barrel for a backbone. But he is no military tyrant. Like many another Marine Corps officer, Craig believes that the welfare of enlisted men comes first. On Bougainville (which rhymes, in marine parlance, with Hoganville), officers slept in foxholes if the men slept in foxholes, ate whatever rations the men ate. On postwar Guam, although...
...Agriculture Charles Brannan bustling into the market place, shouting "Speculator!" at the top of his lungs. Said he: high commodity prices are the fault of speculators; since the war began, the volume of futures trading has jumped 128% in eggs, 98.2% in lard, 78.6% in wheat and 44.1% in wool tops; prices have increased accordingly, from 5% to 41%. Brannan wanted Congress to give him authority to control margins and thus choke off "unrestrained" speculation...