Word: co
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Dates: during 1950-1959
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Nevertheless, Carroll M. Shanks, president of Prudential Life Insurance Co., said that there must be no relaxation of present monetary controls. He told the Economic Club of Detroit: "Under present circumstances controls must be applied more steadfastly and for a longer period" in order to shake some of the "superconfidence" out of the boom. Such anti-inflation measures involved a calculated "risk of producing some unemployment and possibly even plunging us into a recession. [But] we must be willing to accept short periods of price rise in order to ensure high employment and also short periods of temporary rise...
...Mexico's Ambrosia Lake is a misnamed patch of sunbaked, bone-dry limestone where miners have long thought they smelled uranium. The Santa Fe Railway opened a small strip mine near by in 1950, and Anaconda Co. began to work the richest U.S. uranium mine 20 miles southeast of Ambrosia Lake. But no one struck it rich in Ambrosia Lake until 1955. Then a young (31) Texan named Louis B. Lothmann came in with a $10,000 grubstake, two years of college geology and a hunch on where to look. He teamed up with Septuagenarian Stella Dysart...
Last week Ambrosia Lake got another big lift. Phillips Petroleum Co., which is sinking two mines there, contracted with the Atomic Energy Commission to build a $9,500,000 mill to process 1,725 tons of ore a day into uranium concentrate. Like many another oil producer, Phillips is hedging its bets against the day that uranium becomes a major source of the world's energy...
...Nuclear Fuels Corp. (which is 51% owned by Oklahoma Democratic Senator Robert S. Kerr's Kerr-McGee Oil Industries, Inc.) is digging four mines and for $16 million is putting up a 3,300-ton-a-day mill, which will be the biggest in the U.S. Homestake Mining Co. has joined with Sabre-Pinon Corp. to build a 1,500-ton mill, which will go into operation by mid-1958. This December, Homestake also will finish a 750-ton mill, under construction in partnership with J. H. Whitney and Co., White, Weld & Co., San Jacinto Petroleum Corp. and Major...
...have 7,275 tons of uranium mill capacity a day-about half the U.S. total. But Ambrosia Lake's mining men are plowing up surrounding areas in search of more ore. Floyd Odium's Lisbon Uranium Corp. is prospecting around nearby San Mateo Dome, and Superior Oil Co. (California), has struck ore 30 miles west of the Dysart mine. When atomic power becomes a commercial reality, dusty Ambrosia Lake expects to have a permanent base for its newfound prosperity...