Business & Finance: Cooler Cocoa

Into the vortex of the New York Cocoa Exchange one day last week dropped a single bid for 60,000,000 Ib. of cocoa. Placed by Hershey Chocolate Corp. and amounting to nearly $6,000,000, the order brought to a sharp halt a selling swirl which had carried down the price of cocoa nearly 25% within a fortnight and forced the Exchange at one point to suspend trading. The Hershey bid, slightly under the market, was not filled, but coming from the world's largest cocoa buyer the gesture was enough.

Early last month the price of...

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!