Word: ingot
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...promise to pay in gold the interest every year and the face value in full in 1995. While the 1895 price of gold was $20.67 per oz., the precious metal closed in New York last week at $511. For decades the Atchison, Topeka & Santa Fe Railway, the largest remaining ingot bond issuer, dutifully made 2% semiannual interest payments in gold coin. But in 1933, Congress struck the gold clause and restricted the bonds' interest and principal payments to cash...
...biggest strain on production is the rapid surge in demand from consumers flush with rising incomes and businessmen raking in record profits. The steel industry is working at realistic capacity for the first time since the mid-1950s. Production has climbed to an unprecedented 3,000,000 ingot tons a week. Still, mills cannot keep pace with demand. Orders placed now for sheet steel will not be filled until August; buyers of stainless will have to wait even longer. Steelmen believe that customers are buying steel now before prices go higher. Last week U.S. Steel jacked up the cost...
...precious metal." The first medal sells for $1, and the rest in the series cost $10 each. But 525 grains of silver are worth only about $2 in the wholesale market. The Silver Coalition Ltd. offers a series of out-of-print U.S. currency struck on a small silver ingot. The first ingot of the series, issued in a limited edition of 10,000, contains 20 ounces of silver and sells for $200. The real wholesale market worth of 20 ounces of silver is about $36. Typically, the value of the silver in the medals and ingots is one-fourth...
...family goes back to the 16th century, its modern mold was cast about 150 years ago by Alfred Krupp (great-grandfather of the modern-day Alfried) who, at 14, inherited a nearly bankrupt little ironworks in Essen. By 1851, he had produced the world's largest cast-steel ingot, as well as the first seamless railway wheels, and was soon building a fortune out of the Industrial Revolution and the U.S. railway boom...
Nevertheless, marketing patterns are bound to change as British producers gradually meet most of the domestic needs. Industry leaders are looking forward to shedding their dependence on foreign producers. The biggest potential loser: Norway, which now sells a third of its aluminum ingot exports in Britain, duty-free...