Commodities: New Job, Old Territory

As a congressional liaison man for J.F.K. and L.B.J., Henry Hall Wilson Jr., 45, was a well-paid civil servant who earned $29,500 a year. Last week, when he accepted the presidency of Chicago's Board of Trade—the world's foremost commodity exchange—he got a raise of $70,500. His $100,000 salary reflects the fact that the commodities trading the 18-man board controls has just hit a record yearly volume of $81.4 billion.

In his new job, Wilson will preside over the activities of more than 600 men who daily crowd octagonal trading pits, flailing the air as they shout "Buy!" or "Sell!" The commodities...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!