Word: depositer
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Welcome the Day Shift. When the convention formally opened at Santa Ana race track in Manila's suburb of Makati, the delegates passed through turnstiles where they were shaken down by khaki-clad cops, standing beside signs that read: "Please Deposit Your Firearms and Deadly Weapons Here." Dutifully, 39 delegates deposited gats the first...
...their loans, so they also have to pay more to their savings depositors. Reporting on his first six months last week, President S. Clark Beise of California's Bank of America, biggest U.S. bank, noted that assets had topped $10 billion for the first time, and that deposits showed a $400 million gain since last year to $8.9 billion. But the bank's six-month earnings were cut by $1,800,000 to $35.1 million because the bank had hiked its savings-deposit interest rate from 2% to 3% in January. In New York last week, some banks...
Death Valley Days. U.S. Borax is only a corporate infant-formed last year by the merger of oldtimers Pacific Coast Borax Co. and U.S. Potash Co. But it has close to a natural monopoly, holds 63% of the free world's deposits, including the only big deposit of sodium borate ore (at Boron), the cheapest and easiest type of the mineral to mine and process. The company's ancestry is the story of borax mining in the U.S. The discovery of borax in a California hot spring in 1856 set off feverish prospecting and mining that eventually made...
Coleman acquired a deposit in California's Death Valley. In 120° heat he began mining borax in the valley 280 ft. below sea level. To transport the ore over jagged peaks and through the desert to Mojave, Calif., he formed the famed 20-mule team (actually 18 mules and two horses), was soon hauling out 2,500,000 tons of ore annually...
...creditors, he was forced to sell out his stock to Gerstley and other Britons with holdings in the new company, which eventually became known as Borax (Holdings) Ltd. Domination of U.S. borax mining passed to the British- and stayed there, largely because of new finds such as the boron deposit that allowed Borax (Hofdings) Ltd. to cut costs, forced borax prices down over the years from about $4,000 to $38.50 a ton. The younger Gerstley came to the U.S., took over the Pacific Coast Borax division, became a U.S. citizen. In 1956 Borax (Holdings) Ltd. decided to make Pacific...