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...legendary Seven Cities of Cibola, Francisco Vásquez de Coronado beat a trail along the San Pedro River in southeast Arizona. Coronado never found the fabled wealth of the cities. But in recent years, evidence of other riches-in the form of big copper and molybdenum deposits-has been found by prospectors along the San Pedro. During World War II, the Magma Copper Co., seventh biggest U.S. copper producer, took out an option and set up a subsidiary, the San Manuel Copper Corp., to explore the deposit. In the past seven years, Magma President Alexander J. McNab has spent...

Author: /time Magazine | Title: COPPER: Strike for Magma | 7/28/1952 | See Source »

...Merry Widow. Proprietor Lewis, flanked by a lawyer, is careful never to use such words as "treatment" or "patients." "Hell," says Lewis, "we're mining men, developing a uranium-bearing deposit. We're not doctors and don't pretend to be." But even with a daily limit of 30 new visitors, the mine takes in as much as $3,000 a day, and nobody has seen any trucks of uranium ore coming...

Author: /time Magazine | Title: Medicine: Mind, Body & Mines | 7/7/1952 | See Source »

...could put the new money to work. If, as many bankers thought would soon happen, $2 to $3 billion of the issue wind up with the banks, exactly the same amount of new money will be created because the banks will pay for them by simply creating an equivalent deposit credit for the Government. It looked as if the economy was in for another dose of inflation measles...

Author: /time Magazine | Title: STATE OF BUSINESS: Inflation Again | 6/30/1952 | See Source »

...figure entered the scene. Cleveland Financier & Industrialist Cyrus Eaton, a big contributor to the Democrats in Ohio and an old enemy of Senator Bob Taft's, announced that his Portsmouth Steel Corp. would back the employees. Eaton sent the trustees a check for $1,250,000 as a deposit, was ready to sign a contract to pay the remainder. If the paper is sold to Portsmouth Steel, it will immediately sell it to the employees, collect when the bond & stock issues are floated. The court decided to reconsider. When all the complexities of the Taft and Ratliff bids were...

Author: /time Magazine | Title: The Press: Battle for the Enquirer | 6/9/1952 | See Source »

...telegraph wire to the interior. It was Sunday and Voting Day; in the first of six major elections in Latin America this year, Panama was choosing a President and a congress. Some 300,000 Spanish-descended hotbloods, dusty-footed Indian women and black West Indians lined up to deposit ballots marked (to aid the illiterate) with party symbols: a bell, a horseman, an ear of corn. Then, as a double precaution against double voting, each digged his fingers in a pot of indelible ink and presented his forearm to let one square inch of hair be shaved...

Author: /time Magazine | Title: PANAMA: Election Day | 5/19/1952 | See Source »

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