On Palm Sunday big, breezy William Wrigley Jr., Chicago gum tycoon, got an idea about cotton. On Monday he developed it. On Tuesday he announced that his company would (in effect) barter gum for cotton in the south, would use all sales receipts in that territory to buy up to 100,000,000 Ib. (200,000 bales) of cotton during the next eight months. The market price would be paid, provided it did not exceed 12¢ per Ib. Last week in the spot markets of the South cotton was selling around 10¢.
It was not the first...
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