Word: coppers
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Dates: during 1960-1969
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...their chief argument is that Culligan's interest in editorial salvage work has waned, particularly since the discovery of a rich copper-ore body in Ontario, adjacent to a Curtis holding of timberland. Since then, Culligan has filled the role of prospector with enthusiasm. Texas Gulf Sulphur, which made the discovery, has promised Curtis a mere 10% of the net profit in mining Curtis' acres-if and when they are ever mined. Buoyed in part by the blue-sky possibilities in Ontario, Curtis stock rose to a high of 191, has since settled in the vicinity...
Inflationary Flutters. Such strong demand is added temptation for the steel makers to post a long-sought price hike after the election-especially when fears of inflation do not seem to be deterring other industries from raising prices. In the past few weeks, prices have increased for copper, zinc, tin, chemicals, paper and rubber. Viewing all this, and perhaps anxious to test a harbinger of overall rise, U.S. Steel and Inland Steel last week increased by 17% the price of the reinforcing bars widely used in construction...
Much of the Philippines' violence rises from the chasm of poverty that separates rich and poor. Though the 7,100 islands of the republic are rich in natural resources (gold and copper on Luzon, iron on Samar, chromite on Mindanao) and fecund with such crops as tobacco, sugar, corn and rice, average Filipino income is only $120 a year. Fully 6% of the population is unemployed, and a third of all Filipinos work only three months a year. Manila's wealthy suburb of Forbes Park glitters with swimming pools, but children starve to death regularly in the shack...
Duped Chiefs. Whatever happens, Zambia's independence will mean a mighty comedown for the London-based holding company that once ran the Rhodesias as a corporate fief. Simply known as "Chartered," the company raised its own army to cut through the bush and opened up the copper belt. As both ruler and landlord, Chartered also built railroads, clinics and some schools. But Zambian nationalists, who dispute the legality of the company's rights, claim that it duped Lewanika and other illiterate tribal chieftains into signing away their rights...
...expense of running it, did Chartered begin to reap stable financial rewards. Though it operated no mines itself, it handed out concessions to South African companies. It now owns an interest in most of the territory's mines, which produce 15% of the world's copper; royalties from their operations accounted for $18 million of the British South Africa Co.'s net earnings of $22 million last year...