Word: coal
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Dates: during 1960-1969
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...Norfolk's whole downtown area, have been knocked down and replaced with some $42 million worth of new buildings. Last week plans for a $100 million medical center were announced. A grassed and tree-lined pedestrian mall has replaced Main Street. The world's largest coal-loading dock has been built by the Norfolk and Western Railroad, and savings and loan assets have quadrupled in the past ten years. Population has doubled since the war. And with the bridge, the city will finally be converted from a port stuck out at the far end of nowhere (few driving...
...Equipment Co., one of the leading U.S. makers of mining equipment, rose 45% in the first quarter above their year-ago level. The recent sale of 29 Boeing 727 medium-range jetliners to foreign airlines has reversed a three-year decline in U.S. aircraft exports, and the efficient U.S. coal industry still undersells European coal right in Europe. Though most of the U.S. exports are sought because they are clearly superior in performance, an increasing amount is sold because much of the rest of the world can now afford U.S. luxuries; Iowa's Amana Refrigeration Co. reported...
...main prize, of course, is still oil, and the gas strikes have convinced Australian oilmen that it is there, since oil is often found in the ground beneath gas pockets. The only sour note comes from Australia's coal industry, which is afraid that oil and gas would steal its market for generating power. Plentiful petroleum, warns Australian Coal Association Chairman Sir Edward E. Warren, could "destroy the indigenous coal industry on which whole communities depend." The complaint puts some politicians in the unusual position of refereeing a fight between coal and oil before an oil industry even exists...
...still highly nationalized, West Germany is getting rid of state-owned industry as quickly as possible. Under Erhard's orders, the Ministry for Federal Property, which oversees nationalized companies, is getting ready to sell off the state-owned Vereinigte Elektrizitäts und Bergwerks (VEBA), a coal, chemicals and electric power giant with annual sales of $875 million...
...firm has been nationalized since the war under the Christian Democrats. But still left over from the old days is a $2.5 billion government stake in companies that account for 40% of West Germany's iron ore production, 70% of aluminum, 60% of electricity and 80% of soft coal. In 1959 the government finally sold off to 216,000 German buyers an 84% interest in Preussag, a huge mining and oil company. In 1961 another 1,500,000 Germans bought shares representing 60% of Volkswagen. Though it prefers this spreading of share ownership, known as Volksaktien or "peoples...