Word: co
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Dates: during 1960-1969
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...project will tap an estimated 10 trillion cu. ft. of natural gas under 60,000 acres largely controlled by the Texas-based Austral Oil Co., which is paying 80% of Rulison's initial cost of $6,500,000. (Austral has contracted to sell the Rulison gas to the Colorado Interstate Gas Company). No one denies that the blast could be dangerous. To avoid injury from possible shockwave damage, 35 families living within five miles of ground zero will be evacuated. Residents up to nine miles away have been warned to stay outside of buildings; miners within a distance...
...scrap heaps can be aluminum mines," says David P. Reynolds, executive vice president of Reynolds Metals Co. In a small but worthy start toward solving the national trash problem, Reynolds is offering $200 a ton for the discarded aluminum cans that now cheapen U.S. parks, beaches and roadsides. In Miami, Reynolds is collecting 1,500 lbs. of cans a month through Goodwill Industries. In Los Angeles, it is getting ten times that from Boy Scouts, and other profit-minded collectors, who are paid half-a-cent per can. By melting down those cans, Reynolds "mines" reusable aluminum...
...Natomas Co. would not seem to be the ideal speculative stock. About 80% of its revenues come from the lackluster shipping industry. With its 37% stake in oil concessions in the ocean off the Indonesian island of Java, and a 68% stake in a concession off Sumatra, the company may yet become an important oil producer. But, as officials of San Francisco-based Natomas concede, no one knows how much oil will be found in either field...
Hungry Speculators. The swings tell less about Natomas than about the desperation of speculators and other investors to find a new outlet for their money. "People are hungering for something to get action out of," says Robert T. Allen, vice president of Shearson, Hammill & Co., the big Manhattan brokerage house. Especially hungry are the managers of "performance" mutual funds and hedge funds, both of which have sold themselves to investors on the promise that they could select stocks that would surge ahead no matter what the rest of the market did. The stocks that most of them selected-computer, conglomerate...
...remain deeply committed to the performance game. In their search for new favorites with which to play, they have seized on Natomas as an available game and made a virtue of the uncertainty about the company's oil prospects. To speculators, says Lucien Hooper of W. E. Hutton & Co., Natomas' merit is precisely that "no one can tell what it is worth...