John A. Bunnell
The late John A. Bunnell was a member of the Chicago Board of Trade and served as its president in 1909. Bunnell served four times as the president of the CBOT, including in 1930 when the new building at the foot of LaSalle Street opened.
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.
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. 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.
JLN News Feed
Nasdaq Promotes Tal Cohen to EVP, Tom Wittman to retire at year-end; H2O’s situation rings alarm bells on liquidity
Delisting of Securities of FTD Companies, Inc., Kaixin Auto Holdings (Warrant Only), CytRx Corporation, and Insys Therapeutics, Inc. from The Nasdaq Stock Market
CME Group and BarclayHedge Honor Managed Futures Leaders at Eighth Annual Managed Futures Pinnacle Awards
We visit more than 100 websites daily for financial news (Would YOU do that?). Read the John Lothian Newsletter.