Word: wool
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...with her other compatriots, Gizi's excursion this side of the Iron Curtain was an occasion for stocking up on nylons, watches, lighters-all the paraphernalia of the bourgeois West. She was so awe-struck at the sight of Swedish abundance that she had bagged a handsome wool jacket without paying for it. "I've never seen such a beautiful thing before," she admitted. "I just couldn't resist...
...fact there's more chance that prices will go up rather than down because the cost of Australian wool is 25 percent higher this year," Menton said...
While U.S. production dropped, the U.S. displaced Great Britain as the world's biggest wool user. Consumption went up from 600 million Ibs. a year to about 1 billion Ibs. Most of this was in the finer wools. Russia, never a big buyer before the war, had also entered the market in a big way and did not seem to give a hang about the price...
...this pointed to trouble ahead. Australian wool growers feared that high prices might eventually choke off their market. (In the U.S. high prices had already cut the sale of worsteds, and there seemed small hope of sizable price reductions as long as wool prices stayed up.) In San Antonio, F. Eugene Ackerman, executive director of the American Wool Council, warned U.S. textile men that synthetics might displace high-priced woolen fabrics...
...week's end, the council and the International Wool Secretariat, which represented sheepmen in the British Dominions, joined forces to do something about wool: they formed a new organization, the Wool Bureau, Inc., in Manhattan. By research, the bureau hopes to find some method of treating coarser wool to give it the same properties as the finer grades...