Word: guggenheimers
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Dates: during 1930-1939
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...Putnam prominence in aviation publishing (Lindbergh's We, Harry Frank Guggenheim's The Seven Skies) is also traceable to this versatile Putnam, who was among Amelia Earhart's backers and helped produce Wings, This venture into cinema led to the formation of Talking Picture Epics, Inc., George Palmer Putnam, vice president, producers of Com- modore George M. Dyott's Hunting Tigers in India, Across the World with Mr. and Mrs. Martin Johnson, Robert Cushman Murphy's Bottom of the World...
...TIME, May 26) materialized as a $375,000,000 corporation: Chile Nitrate Co. According to the terms of a bill passed in the Chilean legislature and already agreed to by 91% of the producers, the Chilean government owns 50% of the trust's 300,000,000 shares. The Guggenheim interests, which dominate Chilean nitrates as they dominate Chilean copper, will hold the largest block of the remaining 50%. The present export tax on nitrate, which brought in $30,000,000 revenue last year, will be abolished, and the government will take dividends instead. This will probably mean less revenue...
...Nature's aid in recent years, however, has come a deus ex machina: U. S. capital and U. S. industrial methods in the persons of the four potent Brothers Guggenheim. Originally focused on Chile by copper, their gaze wandered in 1924 to nitrates. Their key company, Anglo- Chilean Consolidated Nitrate Corp., has bulked larger and larger in the industry. Last fall it clinched its leadership by buying control of Lautaro Nitrate Co. Ltd., biggest producer of Chilean nitrate. Even before that, however, the Guggenheims had started their Oficina Maria Elena Plant working in 1926 with the epochal Guggenheim Process...
Mass Production. When the speculative gaze of the Guggenheim brothers was arrested by Chilean nitrate, that commodity was, and most of it still is, extracted from the earth by the antiquated, piddling Shanks process. The "caliche," or nitrate-bearing earth, is broken up with explosives, loaded into cars by hand. At the plant it is boiled in small tanks to leach out the nitrate, which is then run off as liquor and dried into commercial form. The Guggenheims were not en- thusiastic about the Shanks process. Undoubtedly they thought of Daniel Cowan Jackling and his mass production methods in copper...
...Guggenheim Process starts out with electric shovels, progresses through concrete tanks with 7,500-ton capacity to mechanical refrigeration and centrifugal driers. Like the Jackling copper process, it permits the use of much lower grade ores-as low as 8%, which is less than half the minimum required by the Shanks process. It cuts labor costs 75%, fuel costs 72%. It means that mass produc- tion has come to Chilean nitrate, that the Guggenheims are even more the masters of the show. For the new Chile Nitrate Co. into which the entire industry has been merged will use the Guggenheim...