Include Coffee Under Commodity Exchange Act, Hearings Before ..., 83-2 on H.R. 7735 and S. 1386, February 17, 18, and 23, 19541954 - 95 pages |
Common terms and phrases
ABERNETHY Agriculture American ANDRESEN Angra dos Reis April August believe bill Brazil Brazilian cruzeiro cents Chairman Coffee and Sugar coffee exchange coffee futures coffee prices coffee situation coffee tree committee Commodity Exchange Act Commodity Exchange Authority consumer consumption contracts COOLEY crop cruzeiro prices December delivery dollars economics of coffee effect Europe export February Federal Trade Commission foreign frost futures contracts futures market futures trading going GOLDEN Government HADLICK hedging high price HILL HOEVEN HORN import commodity include coffee increase interest investigation ISRAEL January July June KING LOBO manipulation March McINTIRE MEHL million bags modity November October onions percent POAGE POLK price of coffee production question record registered regulation Santos São Paulo sell Senate September speculation statement Sugar Exchange supply and demand supply of coffee THOMPSON tion Total trading in coffee transaction United wheat York Coffee
Popular passages
Page 15 - Solanum tuberosum (Irish potatoes), wool, wool tops, fats and oils (including lard, tallow, cottonseed oil, peanut oil, soybean oil and all other fats and oils), cottonseed meal, cottonseed, peanuts, soybeans, soybean meal, livestock, livestock products, and frozen concentrated orange juice...
Page 3 - commodity" shall mean wheat, cotton, rice, corn, oats, barley, rye, flaxseed, grain sorghums, mill feeds, butter, eggs, Solanum tuberosum (Irish potatoes), wool, wool tops, fats and oils (including lard, tallow, cottonseed oil, peanut oil, soybean oil and all other fats and oils), cottonseed meal, cottonseed, peanuts, soybeans, soybean meal, livestock...
Page 37 - ON ARMED SERVICES, Washington, DC, Thursday, February 18, 1960. The committee met at 10 : 10 am, the Honorable Carl Vinson, chairman, presiding. The CHAIRMAN. Let the committee come to order. Members of the committee, this is a continuation of the hearing...
Page 93 - No. 2377, August 23, 1950). Our records indicate that in 1951 and 1952 the New York office of the Antitrust Division conducted a grand-jury investigation on the basis of a recommendation by the Gillette committee that the Attorney General act to prevent the continued used of restrictive contracts for trading in coffee futures on the New York Coffee and Sugar Exchange. This investigation was made with the view of determining whether the contracts adopted by the exchange in 1948 had been prepared with...
Page 38 - Whenever through any exceptional contingency not provided for in the By-Laws and Rules, deliveries are not possible, and an extraordinary situation arises wherein a rigid enforcement of contracts generally would be grossly at variance with just and equitable principles of trade or the public interest...
Page 2 - by the Senate and House of Representatives of the United States of America in Congress assembled, That the third sentence of section 2 of the Commodity Exchange Act, as amended, is amended to read as follows: "The word 'commodity...
Page 3 - ... extending its provisions to coffee. The effect of the proposed amendment would be to subject trading in coffee futures to the same regulation as futures trading in commodities now covered by the Commodity Exchange Act. Trading in coffee futures is conducted by the New York Coffee and Sugar Exchange. And while there may be substantial doubt as to the justification for trading in coffee futures on an American exchange, enactment of S. 1386 would enable the Department to maintain surveillance of...
Page 21 - ISRAEL JR., VICE PRESIDENT; AND CHARLES F. SLOVER, MEMBER, COFFEE COMMITTEE, NEW YORK COFFEE & SUGAR EXCHANGE, INC. Mr. LOBO. Thank you, Senator. My name is Gustavo Lobo, Jr. I am president of the New York Coffee & Sugar Exchange, in which capacity I am here. I am also president of Olavarria & Co., Inc., sugar importers, and partner of Lobo & Co., commodity brokers. I am accompanied by Mr. Leon Israel, Jr., vice president of the New York Coffee & Sugar Exchange, president of Leon Israel & Bros.,...
Page 52 - ... they have and what they have. Mr. MOORMAN. There is a tabulation report of the floor brokers' orders to buy and sell prepared by Mr. Harry Frances? Mr. LOBO. It is prepared on the floor. Mr. MOORMAN. Here is what the FTC states officially in relation to your statement when they talked to you about that: Mr. Gustavo Lobo, Jr., president of the New York Coffee and Sugar Exchange, when questioned in connection with this practice, reported that he was aware of its existence. In fact, his firm avails...
Page 93 - ... prices. The facts as developed by that investigation indicated that while domestic coffee marketing procedures might be subject to some question as to their legality, the crux of the situation was to be found in the control by Brazil over the sources of coffee supply. Since United States courts lacked jurisdiction over the foreign principals, the Antitrust Division was unable to recommend effective measures to obtain relief under the Federal antitrust laws.