Asked a Wall Street wag: "Did you hear about the lucky Texas oilman? He was drilling on his property and struck coffee." Last week General Foods Corp. (Maxwell House) and Standard Brands Inc. (Chase & Sanborn) each boosted the wholesale price of coffee again (to $1.11 a lb.), and new retail rises of 3¢ to 10¢ were on the way. People were getting used to gyrations of the jumping coffee bean.
From another group of commodities came surprisingly similar news: the nonferrous metals, long in a downward spiral, were suddenly perking up. In an unexpected spurt of buying, lead prices rose...
To continue reading:
or
Log-In
