Word: traders
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Over the Gulch. The ancient Hawaiians had long grown sugar cane on the islands, but it was New England missionaries like Baldwin's grandfather Dwight (he came in 1831) who brought Yankee traders to commercialize it. It was Dwight's son, bushy-bearded, one-armed Henry Baldwin (he lost the other arm in a cane-mangler) who built the Baldwin dynasty. He went partners with Sam Alexander, son of another missionary. At a cost of $80,000 and harrowing effort, Henry built the 17-mile-long Hamakua Ditch to bring irrigation to the cane fields. With son Frank...
Saturday morning, the groggy traders tried to sell before the gong rang. In 20 minutes, May corn fell another 8? limit. One flustered trader put a sell order in the wrong pocket of his coat. Before he found it, the price drop had cost...
...bell clanged on the Paris Bourse and a trader cried: "Buying dollars for 314." Another trader nodded: "I sell $25,000." With this simple transaction, France last week opened its first free legal money market in dollars in eight years. There were few sellers. The Bank of France, virtually the only buyer, bought a mere $150,000 the first day. By week's end, the dollar had inched down from 314 francs to 304, slightly under the black market price...
...sixth royalty (70 million barrels) in kind from the big private companies and then reselling most of it back to them at scarcity prices, the government was ringing up a fancy profit. Venezuelan Oil Czar Juan Pablo Perez Alfonso, in a deal that would give Argentine State Trader Miguel Miranda a dose of his own medicine, was ready to barter 2 million barrels of Venezuela's high-priced oil for Miranda's expensive beef. Oil-starved Argentines thought the medicine not too bitter...
...young (37) White House physician was there to assert that he was an utter ignoramus about his speculation in the commodity markets. He almost succeeded in proving it. Although he was a trader on margin, he said he did not know the meaning of the term "margin" (a woman sitting behind him snickered: "That's what you spread on bread...