Word: molybdenum
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Last week Leadville was all keyed up. On a bright, brittle December morning, its townspeople gathered in their old two-story red courthouse to attend what was potentially one of the greatest bargain sales of all time. Climax Molybdenum Co.'s Bartlett Mountain mine, which contains about 90% of the world's known supply of molybdenum, was to be knocked down for its unpaid 1939 county taxes: $294,938.75, including interest...
...sale did not mean that Climax was broke. Since steelmen recognized molybdenum's .value in making tough, rugged alloys, Climax has become the biggest thing in Leadville as well as in the "moly" business, has paid almost $26 million in dividends in the last five years. The company had $8,678,521 in the bank at the beginning of 1940. But Climax refused to pay what it considered an exorbitant...
...with his big next-door neighbor. He called in a batch of U. S. correspondents to explain some misunderstandings about the now-you-see-it-now-you-don't embargo on mercury shipments to Japan. There had never been any embargo, the President said. Export of mercury and molybdenum was suspended while the Government investigated reports that shipments of the metals had been smuggled in from the U. S. When the reports proved false, export was resumed. Although the President failed to mention it, the truth is that large quantities of such war materials as mercury, molybdenum, antimony...
...fields had been considered worthless by U. S. and British geologists, they gave Japan a foothold on the Gulf of Mexico, a base from which to route supplies across the Mexican Isthmus bypassing the Canal. The embargo involved 700 flasks of mercury (for making explosives), 14 sacks of molybdenum (for making steel alloys), 2,000 tons of fluor spar (for making aluminum), such oddments as 1,700 tons of flour, 5,000 drums of gasoline and oil. But the scrap and certain petroleum products which were "practically Government monopolies" were held...
President Cárdenas had several reasons for changing his mind. In the folds of Mexico's hills lie great deposits of antimony, manganese, mercury, tungsten, fluor spar, molybdenum. But big producers have never worked them, have concentrated on gold, silver, zinc, copper. The other metals have been left to the Indians, who grub them out of the ground, trot down to the market centres with a pat of tungsten, a tin of mercury whenever they need money for tortillas or pulque. The sales to Japan helped prime small native industry...