Word: coasts
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Dates: during 1950-1959
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...spot ambitions: a first-class marina to serve as a combination club, garage and general store for the nation's ever-increasing yachtsmen. Last week Panama City was about to start work on not one but two big marinas with dock space for 570 boats along its Gulf Coast waterfront and every convenience under the yachtsman's sun: water, ice, electricity and telephone service, gas and repair facilities, a dozen stores, barber and beauty shops, a restaurant, even a nightclub. Estimated cost: $3,500,000. Estimated gross revenue: $1,000,000 annually-to say nothing of the millions...
...much as $10 million or more for a layout as complete as any inland shopping center. Run properly, with low dockage rates (anywhere from ½?to 6? per foot per day depending on season) and efficient service, it can produce a handsome profit for any businessman. Says one East Coast marinaman: "With good management, you can conservatively make a 20% return on your investment each year before taxes...
...East Coast's most complete: Port Washington, L.I.'s Riviera, which turns a healthy profit each year by providing 150 boatowners with all the standard summer-cruising services (water, ice, telephone, etc.), will also repair and store their boats during winter months...
...William Thomas Rice, 45, will move up from president of the small (109-mile) Richmond, Fredericksburg & Potomac Railroad to become president and chief executive of the big (5,287-mile) Atlantic Coast Line, succeeding Champion McDowell Davis, 77, who is retiring as one of the industry's senior executives after 64 years of service. A railroader ever since he won his B.S. degree at Virginia Polytechnic Institute in 1934, President Rice got his start as a $155-a-month assistant engineer on the Pennsylvania, moved up to track superintendent by 1942, when he was called to active duty...
...Copper-ore deposits of 25 million tons were discovered 100 miles from the Atlantic Coast at Akjoujt. France figures that she can yearly produce 60,000 tons of 25% copper concentrate, ship it to port on new 40-ton, 26-wheel desert trucks which French industry is turning out at the rate of 15 a month...