Word: coppers
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Dates: during 1960-1969
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...Sakhalin gas will be shipped to Japan. In Sumatra, Japanese oilmen promised to invest $15 million to carry on offshore oilfield drilling; Indonesia will keep 39% of the oil produced, and the Japanese will get the rest. And the Mitsui Mining & Smelting Co. paid $8,000,000 for copper and zinc mines in Peru; next year the mines will begin shipping concentrated ores to Japan...
...entire Japanese economy is at stake in such far-flung horse trades. Despite its industrial strength, Japan is virtually barren of natural resources, depends on imports for 99% of its petroleum, 96% of its iron ore, 85% of its copper and 75% of its zinc. Last year the island nation imported 205 million tons of raw materials, 20% more than in 1964, at a cost of $3.2 billion...
...coins to alleviate the silver shortage, the Government expects to collect a windfall of $1.6 billion from seigniorage, which is the difference between the face value of coins and the cost of making them. Example: the old silver quarters contained 240 worth of metal, but the new copper-core quarters have only 10 worth-which gives the Government a "profit...
...federal assets. It intends to market to private bankers billions of dollars worth of "paper assets," notably Government-backed mortgages held by the Federal National Mortgage Association. Expected income: $4.7 billion. It also will continue emptying out the federal stockpiles. In fiscal 1967, in addition to selling off copper and aluminum, the Government plans to dump onto the private market such fascinating commodities as 3,866,178 Ibs. of duck feathers, 129 million Ibs. of castor oil, 12 million carats of industrial diamonds, and 39,851 Ibs. of opium (used, respectively, for sleeping bags, paints, cutting tools and medical morphine...
Died. Bryan Winslow Newkirk, 77, Canadian financier, a North Carolina-born wheeler-dealer who promoted Quebec copper and Saskatchewan oil into a network of 61 companies with assets of $30 million, all of which made him a big man in Canada but a fugitive to the U.S. Government for his refusal to pay an estimated $400,000 in taxes on his across-the-border stock operations; of a heart attack; in London, England. Said Newkirk: "They can go to hell. I'm a Canadian citizen, and they can't touch me." Nor could they...