Prohibit Trading in Irish Potato Futures on Commodity Exchanges: Hearings Before the Subcommittee on Domestic Marketing and Consumer Relations of ..., 92-2 on H.R. 7287, January 20, 21, March 16 and 17, 1972
1972 - 272 páginas
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actual Agriculture appear areas Association average believe better bill BULL buyer cars cash Chairman Chicago committee Commodity Exchange concerned Congress consumer continue contract cost crop delivery demand DENHOLM Department economic effect elimination exist fact farm farmers favor feel FOLEY futures market futures trading give going growing hearings hedging House Idaho increase interest legislation look Maine potatoes major March months onion operation opportunity organization percent period perishable position Potato Council potato farmers potato futures potato growers potato industry present president problems processing processors producers profit question reason received record represent result sell short speculators statement subcommittee supply testify testimony Thank thing tion trading in potatoes true understand WATTS witnesses York Mercantile Exchange ZWACH
Página 3 - Agriculture, or shall fail or refuse to keep such books and records open to inspection by any representative of the United States Department of Agriculture...
Página 8 - ... only with onions, but our position on potatoes is the same. The CHAIRMAN. If it is bad for onions it is bad for potatoes, too? Mr. SHELLY. If this committee should recommend that potatoes be included, I am sure that the association would support that view. Such future trading has in the past worked severe injury to farmers, and we do not believe that any corrective actions by the mercantile exchanges or the Commodity Exchange Authority can make a basically unsound situation healthy. We strongly...
Página 35 - Entomologists; the National Association of Commissioners, Secretaries, and Directors of Agriculture; the American Farm Bureau Federation; the National Grange; the National Council of Farmer Cooperatives; the...
Página 171 - Futures contracts in various forms are essential in most American businesses. These contracts may involve construction of shelter, transportation facilities, accumulation of foodstuffs, or a multitude of other economic endeavors. "In the past there have been instances when it has been practical and desirable for Government to regulate trade. The facts may dictate the need for such regulation in onion futures contract trading. However, it is inconceivable that Congress should find it necessary or...
Página 1 - Except where otherwise distinctly expressed or manifestly intended, terms used in this Act shall have the same meaning as when used in the Internal Revenue Code...
Página 214 - The validity of such a contract depends on whether the intentions of the parties at the inception is to deliver or receive the goods bargained for, or to settle on the basis of difference in price
Página 117 - Chairman, gentlemen, my name is TA Hieronymus. I am a professor of agricultural economics at the University of Illinois. I have been employed there since 1946.
Página 56 - you are hindered by stronger restraints than my persuasions; yet, if your determination is fixed, I do not counsel you to despair. Few things are impossible to diligence and skill.
Página 214 - Now I ask you, as intelligent human beings, to refer back to my figures of 75,646 cars traded and 900 cars, or approximately 1 percent, delivered, and decide for yourselves if "the intentions of the parties at the inception of these contracts was to deliver or receive the goods bargained for, or to settle on the basis of difference in price.
Página 1 - ... future delivery shall be made on or subject to the rules of any board of trade in the United States. The terms used in this Act shall have the same meaning as when used in the Commodity Exchange Act. (b) Any person who shall violate the provisions of this section shall be deemed guilty of a misdemeanor and upon conviction thereof be fined not more than $5,000.