Word: nickels
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Dates: during 1960-1969
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...times he pulled weeds out of the terrace of the Seal Harbor, Me., summer home at a penny a weed. He also received 25¢ a week allowance, which he was obliged to keep track of in an account book that John D. Jr. checked over weekly. (Inaccuracy brought a nickel fine, exceptional accuracy or neatness a nickel reward.) "Father's strict rule," says David, "was that we should save 10% of our money and give away...
...that time, the U.S. produced no nickel at all; the entire supply was imported, largely from Canada. But Hanna owned an idle nickel mine in Oregon, and the Truman Administration began negotiating with the company to open the mine for production. On Jan. 16, 1953, just four days before the Eisenhower Administration took over, the Government and the Hanna Co. signed their contracts...
Those contracts undeniably added up to a good thing for Hanna. The Government agreed to buy Hanna's nickel ore at $6 per ton; it also agreed to advance the entire cost, some $22 million, of building a smelter to refine the ore. Although profit figures are in dispute, by George Humphrey's own reckoning they came to at least $7,500,000-roughly double Hanna's investment in the nickel operation. Moreover, under the terms of the contracts, Hanna last year took over ownership of the smelter for a mere $1,700,000. But the deal...
...their faces, Humphrey told South Carolina's Senator Strom Thurmond that he was "confused" and California's Clair Engle that he was "mixed up." To a big company like Hanna (total assets: $450 million), he said, the smelter deal was "small potatoes"; for that matter, the nickel contracts were the "tag end of our business." He had, he said, been too busy with more important Hanna interests to pay much attention to the nickel contracts while they were being negotiated. Actually, he argued, the nickel deal was very simple, and he could not understand why it was unclear...
...read off a prepared statement denouncing the nickel contracts and Humphrey's testimony about them. He quoted Humphrey's crack to the Monitor reporter...