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...vast piles which tower through the length of the store, are absolutely certain to make the acquaintance of Abraham Isenstadt, the proprietor of the establishment. Mr. Isenstadt, no shrinking violet in any of his thirty-nine years, first dabbled seriously at bookselling while attending Boston University and the BU Law School. After graduating from the latter and being admitted to the Massachusetts bar, he elected not to practice law but instead went into the book business. Since then, Mr. I. has acquired a huge stock of assorted writings that fills the basement of his Boylston Street store and that...
Metcalf added to the squeeze; he acquired 125,000 bu. of May futures for himself and family. (Later, said the report, General Foods executives forced him to resign because of his side speculation...
...April 29, 1944, the corner seemed vise tight. General Foods, Rice and their cohorts had May futures contracts calling for delivery of 5.7 million bu. of rye. But there were only 4.2 million bu. of rye available in Chicago. Speculators who had sold rye short, gambling that the price would drop before they had to deliver, scurried for cover. They had to find rye or pay through the nose...
...tried to bottle up the Winnipeg rye market. But one of the shorts was wily Cargill Grain Co., an old hand at corners. Cargill hustled enough Winnipeg rye to Chicago to break the corner, and drive down the price of rye futures, which had risen from 64¼? a bu. to $1.32 5/8. Two years later, it rose to $2.86 but General Foods had sold out. Final loss to General Foods...
Rise in Wheat. The rise in wheat was equally spectacular. Cash wheat in Chicago, at $2.18¼ a bu., up from $1.97, was the highest since 1920. Even with the bumper crops expected this year, most grain traders think that wheat will stay up there because of the world demand. Moreover, farmers were having a tough time getting their grain to market. The shortage of railroad cars had forced many of them to pile it up in the open fields alongside the tracks (see cut). At week's end, drenching rains had spoiled half the grain stored in some...