Word: copper
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Dates: during 1950-1959
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...philosophy, says Lynd. is now controlled by a bunch of professional overlords who have "copper-riveted one of the neatest bureaucratic machines ever created by any professional group in any country anywhere since the priesthood of ancient Egypt. In nearly every state today, a teacher or principal cannot go to work in a public school without a certificate or license, which can be obtained only by taking courses under a Faculty of Education. When the new teacher gets his first job, he has only begun his vassalage to these superprofessionals. In a great many communities, salary schedules are so rigged...
...supply $150 million worth of goods, including coal, rolled steel, copper, zinc and aluminum, four-fifths on credit, and to hand back 33 requisitioned plants...
When the Korean war set off a surge of inflation, few commodity prices shot up faster than those of such critical metals as tin, chromium and copper. In the shake-out that started in commodities almost a year ago (TIME, Oct. 20), the overpriced metals began losing some of their altitude. Last week, in the wake of the Korean truce, they were dropping again. Lead and zinc were selling near their June 1950 levels; tin had fallen 35.8% below its February high of $1.21½ a Ib.; chromite ore was down 42.6% to $56 a ton and still falling...
Another big shakeout came in copper, once one of the most critical shortages. As free trading in copper was resumed on the London Metal Exchange for the first time in almost 14 years, spot copper, which had been artificially pegged by the British government at 31? a Ib., nosedived to 26.3? on the first day. Before the week ended, the price was back up to 28?, but coppermen felt that this was only a short reprieve. Britain has not yet begun to sell copper from its null stockpile, and Chile, which has kept 65,000 tons off the market...
...Electronic Drill. A new die sinking and drilling machine, which uses one of the softest metals (copper) as the cutting tool for some of the hardest (tungsten and titanium carbide), is being built by the Elox Corp., Clawson, Mich. The copper, acting as an electrode, can drill a hole one-tenth of an inch in diameter through 40 inches of steel. Expected price...