Word: freeport
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Dates: during 1960-1969
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...shortage has been reflected in higher prices, which have risen nearly 33% since 1964. And now there is even rationing of the disappearing element. Manhattan-based Freeport Sulphur Co., which is the world's biggest producer (4,000,000 tons a year), has increased its output 70% over the past five years, but has had to limit its customers to 90% of their usual orders. Only two weeks ago, second-ranked Texas Gulf Sulphur (nearly 3,000,000 tons) began telling its buyers that they would have to settle for just 75% of their normal quotas during the next...
...leases in Texas' Pecos County on the strength of a promising 1927 geological survey. Outside Houston, Texas Gulf Sulphur reopened its Old Gulf mine, a relic that the company had worked for 13 years before closing it in 1932 when it was thought to be no longer profitable. Freeport has turned to offshore deposits that were once considered prohibitively expensive. It has one Gulf of Mexico operation already under way, will start production in its new $25 million Caminada mine six miles off Louisiana early next year...
...away more or less." When he died of a heart ailment during a Florida vacation last week at 94, L. L. (for Leon Leonwood) Bean left a $4,000,000-a-year backwoods bonanza that could have been far bigger had he ever branched beyond tiny (pop. 4,000) Freeport, Me. But Bean liked his sportsman's supply business the way it was. "I get three good meals a day," he once said, "and I can't eat four...
...before operated in Indonesia are investigating the scene too. One visitor last week was Eastern Air Lines President Floyd Hall, in Djakarta to talk about the possibilities of a joint operation in the islands with Garuda Airways, the national airline. U.S. Steel is contemplating nickel mining in West Irian, Freeport Sulphur is surveying copper prospects, and no fewer than 19 companies are competing for the right to drill for offshore oil around the big islands of Sumatra, Java and Borneo...
...tourists coming, developers and investors are sinking millions of dollars into the islands. Former Wall Street Financier Wallace Groves acquired 150,000 acres of scrubland on Grand Bahama Island in the late 1950s, and through his Port Authority has turned it into a $400 million resort center called Freeport, with six hotels, two gambling casinos, and a commercial and industrial complex of 800 licensed businesses. Aluminum Executive J. Louis Reynolds is converting 13,000 acres on Andros Island into a housing, resort and commercial development that will include a U.S.-British navy undersea research and training center. Pan American...