Word: coppers
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Dates: during 1950-1959
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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...
...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...
Coming at a time when U.S. copper prices are at a near record for peacetime, 36? a lb., the law is deftly designed to 1) boost production, 2) bring Chile millions of dollars in new capital and increased revenues, 3) raise company profits, and 4) provide the world with more of Chile's abundant copper. "A victory for good sense," commented a Santiago newspaper...