COMMODITIES: Coffee Pot Tempest

In Washington last week a customer bustled up to a counter in Magruder, Inc. and tried to buy 96 Ibs. of coffee. She was told she could buy only one 24-lb. case of Ib. tins. In many another U.S. city, hoarding housewives, having heard rumors of $1 a Ib. coffee, were hastily grabbing all they could get. Under such scare buying, coffee prices shot up as much as 25¢ a Ib. Last week the National Coffee Association estimated that hoarding consumers have already bought at least 132 million pounds more than they need.

Actually, there was not much cause for...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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