Word: coppered
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From the moment he took a $1.50-a-day job as a water boy on a gang building a railroad for Anaconda Copper at Butte, Mont., there was never much doubt how Cornelius Francis Kelley would spend his life. Born in the mining country (his father was a mine superintendent), "Con" Kelley had copper in his blood. He went off to study law at the University of Michigan, started specializing in mine cases back in Butte. In a fledgling industry dominated by Irishmen and racked by legal brawls, Kelley quickly made his mark. He went to work for Anaconda, became...
...Anaconda's boss, Kelley kept the company in step with the rapidly expanding demands for copper of the electronic age. He bought mines in Chile, made Anaconda the world's biggest producer; by buying American Brass and setting...
Anaconda Wire & Cable, he also made it the world's biggest fabricator. Two years ago, weary of all the talk about aluminum cutting into copper's markets, Con Kelley made a typical move: he decided to spend $45 million on an Anaconda aluminum mill, which will go into production at Columbia Falls, Mont, this summer. His most recent venture: he put Anaconda into developing what may be the largest U.S. uranium deposit in New Mexico (TIME, April...
...stability of metals, one element of the index, is due partly to the way the Government has been handling its stockpiling programs. Some metals have been bought to support prices or released to ease them. For example, to help fill the current copper shortage, the U.S. Office of Defense Mobilization announced that in the third quarter of this year American industry will get 16,000 tons of copper that had been earmarked for the federal stockpile...
There are shortages in such other key metals as copper, nickel and aluminum. With output of military tanks and trucks at a low level, far less than 10% of the auto industry is now devoted to defense output (though some firms, e.g., jeep-maker Willys, might feel the pinch of a defense cutback...