Word: copper
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Dates: during 1960-1969
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...raised the U.S. flag in a scene captured for posterity in a famous photograph. Their feat was commemorated on a bronze tablet laid atop Suribachi, with the U.S. flag flying above it. Now the flag has been lowered as a concession to Japanese sensibilities, and in its place a copper flag has been raised. When a treaty is signed this week or next, the U.S. will officially return to the Japanese the Bonin and Volcano Islands, of which Iwo Jima is one, and two other Pacific islands...
...devaluation. The ancient Romans began to debase the denarius under Nero (A.D. 54-68) after they ran into-but failed to recognize-their balance of payments problems. Founded on plunder, Rome as an empire lacked the manufacturing, agriculture and commerce to pay for its costly imports. Trajan added copper to the once 99%-pure-silver denarius, and later the coin became wholly base metal. A century before Alaric sacked the Eternal City in A.D. 410, Rome had lost not only its purchasing power but also the wherewithal to resist barbarians at its borders...
Seven oil-exploration contracts have been awarded to eager bidders, among them the U.S.'s Continental and Union Oil companies. Surveying for copper, Freeport Sulphur Co. recently found high-grade (4%) ore, and may invest up to $100 million to exploit it. International Nickel just got the go-ahead to start a $1,500,000 survey of nickel deposits on the island of Sulawesi (Celebes), and may invest $100 million. Bethlehem Steel has expressed interest in tin deposits, Boise Cascade in logging concessions. ITT agreed to build a satellite relay station near Djakarta at a cost...
Damon Runyon's lively 1927 stories about Ruth Snyder and her boy friend, Henry Judd Gray, both accused of murdering her husband, included the information that "Mrs. Snyder and Gray have been 'hollering copper' on each other, as the boys say. That is, they have been telling." Did the reporter learn this from a prosecution source...
Alcoa official last week, "but this copper thing has given us our biggest boost yet." Some air-conditioning manufacturers, for example, are redesigning condensers and evaporating tubing for aluminum; Detroit's Michigan Utilities Co. has begun converting to aluminum tubing for connections to gas appliances. A good deal of the switching is impelled not by copper shortages but by the rising price of the metal. And however the strike ends, the price seems sure to go only...