Word: coaling
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Dates: during 1960-1969
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...Northern Rhodesia railhead of Broken Hill, where he once stoked coal as a locomotive fireman, Sir Roy Welensky, Prime Minister of the crumbling Central African Federation, issued a dire warning: "If the wrong people are elected, we will regret it forever...
After more than a decade on top, one of West Germany's richest postwar wonder boys has come tumbling down. A big plunger in coal and steel stocks, Hermann Krages, 53, has seen his investments multiply 25 times since 1948. But though he got rich, he made few friends: Krages often used his minority holdings to badger managements until they bought him out at prices above the market just to be rid of him. The manner of Krages' fall last week told much about the immense power of banks in today's West Germany...
...market, Krages scrambled for fresh cash to protect at least part of his holdings, finally got it on harsh terms dictated by Dresdner. To fatten its own portfolio, the bank wanted Krages' shares in a major chemical maker called Chemie-Verwaltungs, A.G., and in Germany's biggest coal company, Gelsen-kirchener Bergwerks, A.G. With his back to the wall, Krages was compelled to sell the shares, worth $125 million two years ago, for $29 million last month, well below prevailing bear market prices...
...always wore a hat because he was convinced that the sun's ultraviolet light beating into the skull would destroy the ability to distinguish between nuances of grey; he ordered that the friendly spiders which abounded in his studio should not be disturbed (the maids hid behind the coal pile the mop used for brushing down spiderwebs). He was a patient and humorous father; explaining the meaning of duty to his son, he would recall his own boyhood as a tailor's son. "I had to shell green peas and I loathed it. But I knew that...
...research is expensive and may become more so, but Avco is backed by a consortium of eleven powerful electric companies that sense a power revolution not many years away. If a full-scale generator works out as well as Dr. Kantrowitz expects, it will turn the chemical energy of coal or oil into electrical energy with 56% efficiency. The most efficient modern steam-driven generators do not get better than...