Word: copperizing
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...past two weeks, as one big oil company after another posted hefty fourth-quarter profits, their stock prices leaped daily. During January, Exxon was up 5¾, to 60⅞, Mobil rose 3⅜, to 58⅜, and others racked up equally impressive rises. Coal, timber and copper producers, which like the oil companies deal in irreplaceable or depletable assets, also showed strong gains...
...some cities, merchants did a curious trade in selling everything from gasoline to bacon for a mere 5? or 10? per gal. or lb.-just so long as customers paid in pre-1965 coins, which were still worth many times face value because of their silver content. Even copper went through contortions. It shone, lost luster, then brightened to $1.30 per lb. If copper reaches $1.50, pennies will be worth more than...
...been jumpy from the moment trading began on Monday morning. The first selling wave came that afternoon, when the New York Commodity Exchange curbed investors from buying or selling new contracts for the future delivery of silver. Later in the week, the Comex took a somewhat similar action on copper futures...
Shares of gold-and silver-mining companies leaped on Wall Street, as did the stocks of many so-called asset companies. Unlike financial, service or processing firms, the corporations that possess coal, oil, timber, copper or other resources have assets that retain value no matter what happens to inflation, the dollar or the economy...
...American dependence has focused attention on the size of current stockpiles and the feasibility of developing new domestic sources. Since World War II the Government has maintained strategic stockpiles of 93 key materials, including tin, copper and titanium, for use in a national emergency. Some are critically low. Only 32,000 tons of titanium are stockpiled, far below the 130,000-ton goal. Cobalt reserves are 22,000 tons short of the 43,000-ton target...