John A. Bunnell

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John A. Bunnell

The late John A. Bunnell was a member of the Chicago Board of Trade and served as its president in 1909.[1] Bunnell served four times as the president of the CBOT, including in 1930 when the new building at the foot of LaSalle Street opened.[2]

Bunnell was a principal in the general commission firm of Hately Brothers, merchants and exporters of provisions, grain, tallow, oils and feedstuffs. Hately Brothers was established by Walter C. Hately and Bunnell in 1872.[3]

Background

Bunnell was president of the CBOT in 1930 when it was alleged the Soviet Union government had plotted to depress wheat prices by shorting futures on the exchange. Bunnell denied the plot and noted the selling was an ordinary "hedging" by the Russians, who had wheat to sell to the world market that year.[4] Bunnell had been sent a telegram by then Secretary of Agriculture Arthur M. Hyde asking him to look into short selling by the Soviet Union. Subsequently, after the price of wheat collapsed, the CBOT decided to end short selling by foreign governments, which primarily applied to the Soviet Union.[5][6][7]

Education

References

  1. Annual Report of the Board of Trade of the City of Chicago, Volume 57. Google Books.
  2. Chicago Board Of Trade Moves Into New Quarters. Google News.
  3. The City. Northwestern University.
  4. Niagra Falls NY Gazettee. Fultonhistory.com.
  5. Wheels of Fortune: The History of Speculation from Scandal to Respectability. Google Books.
  6. Hyde Renews Fight On Russ Wheat Buying. Google News.
  7. The Bismark Tribune. Newspapers.com.