Word: nickels
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Dates: during 1950-1959
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...NICKEL PINCH will be eased by more metal from the Government stockpile. After diverting 12 million Ibs. during the first quarter, the Office of Defense Mobilization will divert another 18 million Ibs. in the second quarter...
Pound for pound, the most wanted metal in the U.S. today is nickel. Last week it commanded the highest premium paid for any metal on the grey market-$3 a lb., five times the going rate. With Government stockpiles and defense users gobbling up 40% of the free world's total output (v. only 10% for copper), automakers alone had to pay out more than $21 million last year in grey market premiums for the precious hardener for bumpers, crankshafts and a dozen other parts. The shortage is so critical that the Administration, while getting out of business elsewhere...
This famine is proving a feast for the free world's biggest nickel producer, the 54-year-old International Nickel Co. of Canada, Ltd., which provides 65% of the free world's nickel. Last week Inco announced net profits of $91.5 million for !955, up 40% over 1954. For the sixth successive year, production hit a new peak with nickel deliveries of 290 million Ibs., while the company also delivered 263 million Ibs. of copper (worth $100 million), 1.637,000 Ibs. of cobalt (worth $4 million), 445,000 oz. of platinum (worth $20 million), plus smaller amounts...
Boom & Bust. All of Inco's production came from its famed mines near Sudbury, Ont., where the company has drilled a 396-mile spiderweb of underground tunnels fanning out through five mines. Sudbury is to nickel what Minnesota's Mesabi Range is to iron, at one time supplied more than 80% of the free world's nickel. But the credit for making it pay off goes to a pair of hardheaded metalmen with the know-how and vision to turn nickel into one of the world's most important minerals: Inco's onetime President...
...early days nickel was almost entirely a war baby, whose greatest value was for armor-piercing shells and armor plate. Inco gyrated between boom and bust, went from a $10 million profit in 1917 to an $800,000 deficit in 1921 when defense needs slacked off, and the company actually had to shut down for twelve months, Stanley and Thompson worked years to find peacetime uses for the fabulous nickel lode, helped develop heavy-duty nickel steels for dozens of products, taught businessmen new ways to use nickel in household equipment, autos, steel and other products...