Yesteryear

In 1955, Two Traders Cornered Nearly All Onion Supplies in Chicago and Pocketed Roughly $100 Million

by editor@creativeunderworld.com | Yesteryear | 0 Comments

In 1955, two men, Vincent Kosuga (an onion farmer) and Sam Siegel (a businessman), executed a massive cornering of the onion market that remains one of the most notorious examples of market manipulation in U.S. history. Their actions led to a permanent federal ban on onion futures trading that is still in effect in 2026.

Siegel and Kosuga, operating out of the Chicago Mercantile Exchange, began their scheme by aggressively buying both physical onions and futures contracts. By the fall of 1955, they controlled approximately 30 million pounds of onions, roughly 98% to 99% of the entire available supply in Chicago. After establishing their monopoly, they threatened growers with a market flood to force them to buy back the inventory at higher prices.

While publicly supporting the price, they secretly took massive short positions on onion futures, betting that prices would crash. To trigger the collapse, they flooded the market with their hoarded onions, some of which they had shipped out of Chicago to be cleaned and re-shipped back to create a false impression of an endless new supply.

By March 1956, the price of a 50-pound bag of onions plummeted from $2.75 (in August 1955) to just 10 cents. At 10 cents, the onions were worth less than the mesh bags they were packed in. Thousands of onion farmers were driven into bankruptcy. Siegel and Kosuga, however, profited handsomely from their short positions, earning an estimated $8.5 million at the time (roughly $100 million in current value).

Millions of pounds of worthless, rotting onions were dumped into the Chicago River, reportedly causing the city to smell for weeks. The resulting national outrage led to congressional hearings where then-Congressman Gerald Ford sponsored a bill to prevent such manipulation. In August 1958, President Dwight D. Eisenhower signed the Onion Futures Act, which prohibited the trading of onion futures in the U.S.

Onions remain the only agricultural commodity in the United States specifically excluded from futures trading by federal law. The act was later amended in 2010 to also include a ban on motion picture box office receipts.

Rarely Seen Photos of Bernadette Peters in “Dames at Sea”

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Bernadette Peters famously originated the role of Ruby in the 1966 Off-Off-Broadway production of Dames at Sea at Caffe Cino, later starring in the hit 1968 Off-Broadway revival. This performance was her breakout role, earning her a Drama Desk Award and launching her career as a major star of musical theatre. Peters played Ruby, a starry-eyed, innocent chorus girl from the Midwest who becomes an overnight star in this 1930s-style movie musical parody.

The 1968 production, which transferred to the Theatre De Lys, ran for 575 performances and established her as a critically acclaimed talent. She is featured on the original 1968/1969 cast recording, notably performing songs like “The Sailor of My Dreams” and “Star Tar.” Following the initial run, she performed in regional productions of the show, including at the Paper Mill Playhouse (1973).

Dames at Sea served as a pivotal moment in Peters’ career, leading to her Broadway roles in *George M!*La Strada, and Mack and Mabel.

Beautiful Photos of the 1902 Baker Electric Runabout

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The 1902 Baker Electric Runabout stands as a fascinating testament to an era when electricity, not gasoline, was a leading contender for powering the future of transportation.

Produced by the Baker Motor Vehicle Company in Cleveland, Ohio, this elegant “brass era” horseless carriage was famously favored by figures like Thomas Edison and F.B. Stearns. Unlike the noisy, vibrating, and difficult-to-start internal combustion engines of the time, the Baker Electric offered a silent, clean, and effortless driving experience, making it particularly popular among urban socialites and women who appreciated its simplicity.

Technologically, the 1902 Runabout was remarkably advanced for its day, featuring a lightweight frame and a series of batteries that allowed for a top speed of about 14 mph (23 km/h). Instead of a steering wheel, it utilized a tiller, and its power was delivered smoothly without the need for a complex gearbox or hand-cranking.

While the limited range of early lead-acid batteries eventually saw electric cars overtaken by gas-powered rivals, the Baker Electric remains a crown jewel for collectors, a whisper-quiet pioneer that proved the viability of electric mobility over a century before the modern EV revolution.

Below is a collection of beautiful photos showcasing the exquisite craftsmanship and early electric engineering of the 1902 Baker Electric Runabout.

Peters Fun Fair

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1 9 5 6 – 1 9 6 9 (Australia) English-born Jack Perry and Doug McKenzie began performing together in Melbourne, Australia, in the 1950s. As two clowns named Zig (Perry) and Zag (McKenzie), they appeared regularly on a Saturday morning children’s show hosted by Frank Thring, alongside Bert Newton and disc jockey, Stan Rofe. They […]

No Man’s Land

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1 9 7 3 – 1 9 7 6 (Australia) This daytime current affairs program produced “by women for women” and presented by an all-female lineup, was conceived as a result of the findings of a survey by the Women’s Electoral Lobby in Australia which showed most women were bored with daytime television. The broadcast began […]

McArthur Wheeler, the Man Who Robbed a Bank Thinking Lemon Juice Made Him Invisible in 1995

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In 1995, 44-year-old McArthur Wheeler became the unintentional face of a major psychological breakthrough after attempting one of history’s most bizarre bank robberies.

On January 6, 1995, Wheeler and an accomplice robbed two banks in Pittsburgh. What made the crime legendary wasn’t the loot, but Wheeler’s “disguise.” He walked into the banks without a mask, looking directly into the security cameras and even smiling. When police arrested him later that night after his face appeared on the local news, he was reportedly stunned, muttering: “But I wore the juice.”

Wheeler’s “brilliant” plan was based on a fundamental misunderstanding of chemistry. He knew that lemon juice can be used as invisible ink (which becomes visible when heated). He concluded that if he smeared lemon juice all over his face, he would become invisible to security cameras. To “test” his theory, he reportedly took a selfie with a Polaroid camera. Because he was likely sweating and the juice stung his eyes, he aimed the camera poorly and captured a shot of the ceiling. In his mind, the blank photo was proof: the juice worked.

While the police had a good laugh, the story the attention of Cornell University psychologists David Dunning and Justin Kruger. They were fascinated by how someone could be so incompetent yet so confident. This led to their 1999 study and the naming of the Dunning–Kruger Effect, which describes a cognitive bias where people with limited knowledge of a task vastly overestimate their own ability.

Sandy Brown: A Timeless Icon of Vintage Fashion

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Sandy Brown was a prominent fashion model during the mid-20th century, epitomizing the elegance and sophisticated charm of the post-war era. Known for her classic features and poise, she was a frequent face in high-fashion magazines such as Life, Vogue, and Harper’s Bazaar, as well as advertisements throughout the 1950s and ’60s.

Brown worked with some of the most renowned photographers of her time, including Lillian Bassman, Milton Greene, Richard Avedon, and Nina Leen, contributing to the iconic visual language of vintage couture. Whether showcasing elaborate evening gowns or chic daywear, her ability to project both grace and modern confidence made her a standout figure in the competitive world of international modeling.

Take a look at these glamorous photos to see the exquisite fashion portraits of Sandy Brown in the 1950s.

Sandy Brown in dress by Elsa Schiaparelli, photo by Genevieve Naylor, 1950

Sandy Brown in poppy-red dress patterned with polka dots, photo by Karen Radkai, Harper’s Bazaar UK, April 1950

Sandy Brown (foreground) in white nylon tulle ballet-length dress with overskirt by Will Steinman, model in back in pale pink tulle dress with roses by Nona, photo by Gleb Derujisnky, Junior Bazaar, November 1951

Sandy Brown in a clear blonde Hollander-dyed nutria jacket by Fredrica, jewelry by Hattie Carnegie, photo by Richard Avedon, Harper’s Bazaar, August 1951

Sandy Brown in cocktail-skirt of herringbone tweed lined in taffeta by Carolyn Schnurer, photo by Nina Leen, September 1951

The Best Portraits of Brian Jones

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Brian Jones (1942–1969) was the founder and original leader of The Rolling Stones. An English multi-instrumentalist, he was the person who actually gave the band its name and recruited the initial members in 1962. He was a gifted musician who introduced exotic instruments like the sitar (featured on “Paint It, Black”), the marimba (“Under My Thumb”), and the recorder (“Ruby Tuesday”) to the band’s sound.

Though he was the initial leader, he was eventually overshadowed by the songwriting partnership of Mick Jagger and Keith Richards, especially after they became a successful songwriting team.

Struggles with drug and alcohol abuse led to his dismissal from the band in June 1969. Less than a month later, at age 27, he was found dead at the bottom of his swimming pool. His death made him one of the first members of the infamous 27 Club, a group of influential musicians who died at that specific age. In 1989, Brian Jones was inducted into the Rock and Roll Hall of Fame as a member of the Rolling Stones.

Vintage Portraits of Joan Collins During the Filming of “Seven Thieves” (1960)

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Released in 1960, Seven Thieves is a classic heist noir that stands as a masterclass in tension and character-driven storytelling. Directed by Henry Hathaway, the film follows an aging criminal mastermind, played by Edward G. Robinson, who assembles a diverse team of specialists to pull off an “impossible” robbery of the underground vault at the Monte Carlo Casino. Unlike many modern high-octane action films, Seven Thieves thrives on its meticulous pacing, atmospheric black-and-white cinematography, and the psychological weight of the stakes involved.

The film is particularly noted for its stellar ensemble cast, including Rod Steiger as the cynical son and Joan Collins as the seductive dancer who provides the necessary distraction. The heist sequence itself is a masterstroke of 1960s filmmaking, emphasizing silence, precision, and the mounting dread that even the most perfect plan can be undone by human emotion.

The film remains a sophisticated entry in the caper genre, blending the glamour of the French Riviera with the gritty desperation of men looking for one last score. Take a look at these vintage photos to see portraits of Joan Collins during the filming of Seven Thieves.

20 Stunning Photos of a Very Young and Beautiful Joan Bennett in the late 1920s

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Joan Geraldine Bennett (February 27, 1910 – December 7, 1990) was an American stage, film, and television actress, one of three acting sisters from a show-business family. Beginning her career on the stage, Bennett appeared in more than 70 films from the era of silent films, well into the sound era. In the late 1920s, Joan Bennett was a rising star in both theater and film, transitioning from a stage ingénue to a Hollywood leading lady. Unlike the dark-haired “femme fatale” image she later became famous for in the 1940s, she began her career as a natural blonde often cast in sweet, youthful roles.

At age 18, Bennett made her professional Broadway debut in the play Jarnegan (1928), performing alongside her father, Richard Bennett. She became a movie star almost overnight in 1929 with two major roles. Her first significant film role in Bulldog Drummond (1929), playing Phyllis Benton opposite Ronald Colman. She played Lady Clarissa Pevensey in Disraeli (1929), opposite George Arliss.

Before she famously dyed her hair chestnut brown for Trade Winds (1938), Bennett was one of Hollywood’s most promising young blonde starlets. Her look in the late 1920s often styled in finger waves or soft curls typical of the flapper era. She frequently wore dropped-waist dresses, pearls, and cloche hats. Even as a teenager, she possessed a distinctive, cultured speaking voice that helped her transition easily from silent films to “talkies.”

Joan was part of the famous Bennett acting dynasty. While her older sister Constance Bennett was already an established, high-paid star known for playing sophisticated society women, Joan was initially marketed as the “magnolia-drenched” younger sister, specializing in pert, poised ingénue roles. During this period, she was already a young mother. Having married at 16 and divorced by 18, she reportedly entered the film industry out of a “necessity” to support herself and her daughter.

Unlike many silent film stars whose careers withered with the arrival of microphones, Joan thrived. Her stage background (coming from the “Theatrical Bennetts” dynasty) gave her a technical advantage. By 1929, she was under contract with Fox and was being groomed as a major star, representing the refined, “classy” side of the Roaring Twenties.