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...serious critics of commodity exchanges deny the economic and social value of hedging. Example: a flour miller buys 10,000 bu. of wheat which will not be sold as flour for several months. To protect himself against a decline in wheat (and flour) prices he simultaneously sells 10,000 bu. for future delivery. While he is milling his wheat, the price drops and with it flour. Thus he makes no money on the flour he sells. But having sold wheat short, he now buys in 10,000 bu. to even up his short position, making a profit on the transaction...

Author: /time Magazine | Title: Business & Finance: Tobacco Market | 9/17/1934 | See Source »

...residents of the U. S. need to keep in normally good health Mr. Doane used a table of per capita food requirements prepared by the Department of Agriculture. In the course of a year this diet would, among other things, provide every citizen with 100 lb. of flour and cereals, 155 lb. of potatoes, 310 qt. of milk, 135 lb. of leafy and other green vegetables, 165 lb. of meat and fish, an egg for breakfast every day. Researcher Doane discovered that with 1929's good crops every citizen could have been provided with all the grain, potatoes, beans, peas...

Author: /time Magazine | Title: FARMERS: Abundance v. Scarcity | 8/13/1934 | See Source »

Italians want their macaroni made out of durum?a hard-kerneled wheat. There is not enough durum in all Manitoba to feed even the macaroni-eating Italians in the U. S., and not enough wheat of any kind growing in Italy to fill her normal wheat and flour consumption of 300,000,000 bu. Into U. S. mouths normally go more than 600,000,000 bu. of wheat but this year U. S. farmers can raise only a scant 484,000,000 bu. Germans, who eat nearly 200,000,000 bu., have not had enough water to raise...

Author: /time Magazine | Title: Business: Wheat World | 8/6/1934 | See Source »

Twenty minutes after the bout began, Londos applied his favorite hold, a Japanese armlock. Browning broke it, retaliated with the "airplane scissors" which he learned by wrapping his legs around a flour barrel on his Indiana farm. Planning to become a professional fisticuffer when he ends his career as wrestler, Browning cuffed Londos on the nose. Londos whacked his opponent on the ear, adroitly tripped him, twisted his foot in a toe hold. Wrestling bouts continue un til one contestant or the other is too tired or too dazed to function normally. After an hour and ten minutes, Londos last...

Author: /time Magazine | Title: Sport: Londos v. Browning | 7/2/1934 | See Source »

...spring of 1914, the year the Alaska Railroad was begun. Frank Adams, John Holmberg and Tom Jensen loaded up with salt pork, coffee and flour at Fort Yukon and went prospecting up the Yukon River. They took Sweet Marie along for company. Folks around Fort Yukon learned that they had made a fairly good strike. Then word came in that the prospectors had fallen to quarreling. Next thing heard was that Tom Jensen had killed Adams, Holmberg and the Schmidt woman and run off with a poke worth some...

Author: /time Magazine | Title: GRIME: Yukon 1914; Brooklyn 1934 | 6/18/1934 | See Source »

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