Word: woole
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Dates: during 1950-1959
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Starting his 30th year as a history instructor, Colonel Bishop,* at 58, is wise enough to know that one well-communicated idea can stimulate more thinking than an hour packed with cotton-wool fact. To that end, he asks his cadets to find parallel situations between current world affairs and what they have learned in history studies...
...mina, mo"; and Westmorland's hevera,devera,dick (eight, nine and ten) is the most likely origin of "Hickory, dickory, dock." In the 18th Century, "Hot Cross Buns / One a penny / Two a penny" was a street vendor's cry. "Baa, baa, black sheep / Have you any wool?" probably dates back to the export tax imposed on wool in 1275. The "Four and twenty blackbirds, baked in a pie" goes back to the Renaissance, when live birds really were put in pies, ready to fly out when the pie was cut, to cause a "diverting Hurley-Burley amongst...
...wild scare buying after the Korean war, commodity prices went only one way-up. Retail prices faithfully followed them. By last week, the big scare was over in many a commodity. A prime example was wool, which hit a 30-year peak this year (see chart). This week, when wool auctions opened in Sydney, Australia, wool prices were down as much as 15% from June, and more than 50% under February and March highs...
Retail prices of wool products were already feeling the drop. J. P. Stevens & Co., one of the largest wool fabric producers in the U.S., announced the first big cut in wool textiles; it shaved some of its spring line prices from the year's high, and many a wool user, such as men's suit makers, who had been threatening price rises, now considered cuts in their lines for next spring. U.S. carpet men, loaded with big inventories, have cut prices 20% since spring, and last week the biggest of them, Bigelow-Sanford, announced a third-round...
...drops of such spectacular leaders as wool, rubber and cotton, thanks to increased supplies and an end to scare buying, pushed the Dow-Jones spot commodity index almost back to where it was at the start of the Korean...