Word: chiles
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Four days earlier, in northern Chile, government carabineros had fired into a crowd of rioting "wildcat" strikers at El Salvador's copper mine, killing eight and wounding 35. The protesting general strike was one of a series called by the Frente de Acclon Popular (FRAP), Chile's Socialist-Communist opposition to Christian Democrat President Frei...
...Stranglehold. Frei also got unexpected-and unwitting-help from Fidel Castro. After the shooting at El Salvador, Fidel took to Havana radio to attack Chile's President as "a coward and reactionary" who had "promised revolution without blood but has given only blood without revolution." Castro's castigations struck many Chileans as an outsider's interference in domestic problems, and coupled with Frei's television address helped to undercut support for the FRAP-led general strike...
...month tour in office to translate his 53% electoral mandate into significant reforms. Though his Christian Democrats dominate the House of Deputies, FRAP-in combination with the Radicals-holds the upper hand in the Senate and has emasculated Frei's copper program. This scheme aims to make Chile the world's No. 1 copper producer and earn an additional $300 million in foreign exchange to finance Frei's sweeping proposals for land reform-which themselves are stymied in the legislature. Heartened by a recent by-election victory in Valparaiso and by the failure of last week...
...shortage of copper is acute, and it continues to be aggravated by strikes in the U.S., Zambia and Chile, the world's three major copper-producing countries. At the same time, supplies of other nonferrous metals are tightening, and prices are rising. In the last 18 months, tin has gone from $1.22 to $1.75 per lb., tungsten from $1.40 to $2.03, vanadium from $2.45 to $3.40. Mercury is so short that badmen in the Southwest, aping the Atlanta copper capers, have in the last four months stolen an estimated $70,000 worth of mercury from unattended gas-well meters...
...pfennigs for each call when he does-but the U.S. brokers are always on the phone with suggestions and send out as many as eight research reports a month. Many governments restrict trading in U.S. stocks; Britain imposes a 4¼% tax on it, and countries as diverse as Chile and Denmark flatly prohibit it. Imaginative investors, however, usually can slide around the restrictions. The main reason for their interest is that, despite the recent weakness, the U.S. stock market has had a longer and stronger upswing than any other in the world-and foreign investors want...