Sunday, March 27, 2011

Reader submission by Laura Scoville Ekstrom

Big thanks to Laura Scoville who was kind enough to submit a few things starting with the following CBOT buttons which starting from upper left look to be 1000oz silver contract launch, grain floor opening, gold contract launch, Ginne Mae launch, 30 year bonds launch and her AM division badge from the CBOT.  The Ginnie Mae is most appropriate as a F.I.M. (Financial Interest rate Market?) Fatale!

Laura noted that she began on the floor trading at 21 in 1978 as one of only three women and the youngest female at the CBOT trading.  She was a forth generation Scoville trader following in the footsteps of her great grandfather who founded the clearing firm Scoville & Company in 1892.  Her father, Jim Scoville, is shown below center in a photo that appeared in National Geographic.

As the silver market has gone nuclear, it's appropriate to share the some of James Scoville's poetry regarding the silver market which he helped establish at the CBOT.

Ballad of the silver pit

5000 BC when the coals cooled down,
that first man saw something nifty.
It was nothing at all, compared to the call
When Irwin bid $52.50

To those who partook of that market that shook
out all but a hardy few.
We say “here’s to the best” that laid Bunker to rest.
As we toast with our Cordon Bleu.

(James Benson Scoville)

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