Word: magma
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Dates: during 1930-1939
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With copper last week being sold by custom smelters at 7⅜? a pound, another all-time low, the already painful pinch upon U. S. producers became sharper than ever. Therefore last week Quincy Mining Co. shut down its mines for five weeks and Magma Copper Co. shut down for three months. Adding United Verde and United Verde Extension, both of which shut down several weeks ago, this made four copper companies out of business. In 1929, the four supplied 12% of total U. S. production. Should copper fail to rise in the near future, other of the lesser companies...
...Magma Copper...
Colonel William Boyce Thompson of Yonkers, N. Y., Metropolitan Life Insurance Co. director, president of the Magma Arizona R. R., Wartime head of the Red Cross mission to Russia, gave another $1,000,000 to Phillips Exeter Academy. Exeter's greatest benefactor, he is an alumnus (1890), a trustee, has previously given his school a gymnasium, swimming pool, tennis & squash courts, baseball cage, science building, administration building (total value: over $1,000,000). Other recipients of Thompson benefactions: Columbia University, Clarke School for the Deaf, Boyce Thompson Institute for plant research...