Word: fur
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...curbstones of Manhattan's financial district. By 1900, the outdoor market had settled down in Broad Street. There, no matter what the weather, traders gathered daily to trade securities in a bedlam of shouting and sharp dealing. Nobody needed a license-only stout lungs, a fur-lined coat...
...originator of "Bonmouton," a beaver-like fur made by plasticizing sheep pelts, Eitingon had enthusiastically expanded, bought seven processing plants, talked of selling 15,000,000 mouton coats (from $100 to $200). But the processing took longer than anticipated and he found himself short of ready cash...
...present none-too-healthy state, the fur industry could not afford to let Eitingon go to the wall. Other furriers rallied around. And with a $250,000 loan from the Irving Trust Co., it looked as if Eitingon might squeak through-given enough time. A not unconsiderable factor: mouton has held up in price...
...fur industry knows that it is due to go through an economic wringer. Furriers made the most of the easy-money period during the war and immediately afterwards. When OPA controls came off, prices of luxury furs doubled; medium-priced furs went up 50%. The buying rush has come to an abrupt end because of 1) the unseasonable warm weather, 2) fur imports from abroad, and 3) buyers' resistance to the high prices...
Even with the reductions, many fur prices are still well above prewar prices. Fur men, however, could not quite believe what seemed to be happening in their $500,000,000 industry. They looked around for hidden villains, seemed to think price-cutting the cause of their troubles rather than the result. Said the Fur Trade Review: "We cannot help but wonder whether [stores] have exercised the best wisdom in cutting prices...