Word: flour
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...above indicated, in part: (3) The speculator is a risk-bearer. Millers and grain buyers in the country "hedge" by short sales on the exchanges when they buy to grind or to ship. If the wheat the miller buys to grind goes down, and with it the price of flour, his loss is offset by a profit on the short sale, and vice versa. When "futures" at Winnipeg were forbidden recently, grain ceased to come in from the farms, as buyers were afraid to buy from the farmers unless they could "hedge" by a "future" at Winnipeg. The prohibition...
...trade together. For patriotic reasons, as well as to protect the trade from disaster, they would respond. If a committee of grain experts, under Government auspices, should use their wonderful machinery for collecting information, they could probably in a short time find out the existing stocks of grain and flour and the probable future demands for various purposes at various prices. With these data, they could perhaps estimate the prices needed to bring supply and demand together. Such estimated prices might tell the truth better than the present prices in a demoralized market are doing. Such a report might clear...
Another of the most important economizing plans which has been recently put into effect is co-operation of departments in such a manner that like supplies are bought at competitive contractors' prices, thus accomplishing a saving of many thousands of dollars. For example, the eight thousand barrels of flour used for the hospitals are now bought in one contract, instead of in installments as formerly. On this item alone $30,000 is saved. We require more than this, however, we must get not only co-operation within the individual department, but co-operation of all the city departments collectively...
Hallowell, M. L., flour business...
...first part of this century was a period of marked decline in prices, as is shown by the tables of Parker and Levi in which the price of flour is shown to have been reduced in 1865 to one quarter of that of 1800. Giffen, in his table published in 1885, shows the range of prices from 1839 to 1884 and makes the statement in his introduction, that the condition of the workingman has improved vastly, since the purchasing power of money has doubled and he is earning an increase in wages of from forty to sixty per cent. Comparing...