Word: numbers
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Dates: during 1970-1979
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...many champions may be simply a siphoning off of quality competition. A total of $118 million worth of horses and syndication rights were auctioned by Kentucky's Keeneland Association last year, and $24,668,933 was spent by foreign buyers. Admits Keeneland President Ted Bassett: "The large number of topflight horses that are purchased by foreign buyers could mean that some of the great colts, perhaps even potential Triple Crown winners, have gone to Europe to race...
Other experts suggest that the number of top horses contending for the Crown may have been diminished by the rapid growth of racing days nationwide. Many horses are raced out by the end of their two-year-old campaigns and retired. The breeders of others now pick and choose among rich purses scattered across 15 states rather than risk everything for show money in the Triple Crown events in a year when a really fine horse like Spectacular Bid turns up. In 1948 there were 696 stakes and feature races, only nine with purses...
...number of states are surveying their rivers to measure the hydroelectric potential. A study by the U.S. Army Corps of Engineers concludes that there is an untapped power supply of 40,000 Mw from new and existing U.S. dams that have been allowed to fall into disuse, enough to power 100 cities the size of Washington. By some estimates, if all the hydro sites now under study could be repaired, they would yield the energy output of 16 nuclear plants for the cost of only 2% new nuclear plants...
...past two years, a new band of buyers has flocked to the market: American institutional investors. Some U.S. pension funds, mutual funds and bank trust departments are putting a portion of their assets into bullion. Meanwhile, U.S. individuals, professional hedgers and a number of the larger multinational corporations are in the gold futures market. As a result, contracts representing 312 million ounces were written in the first four months of this year, and the level of futures trading in the U.S. dwarfs gold markets abroad. Individual Americans last year also bought at least 3.7 million ounces of gold coins...
Chicago, which has lost a number of classic buildings-notably Louis Sullivan's Chicago Stock Exchange-managed to save its old public library building after several attempts to replace it with a modernistic structure. The 1897 building had long been inadequate for the central library; it was reincarnated as a branch library and a cultural center, in large part through the efforts of Mrs. Richard Daley, widow of the mayor. Though its vast mosaic-lined entrance halls and twin marble staircases leave little room for a functional library, the interior has been restored in all its original quattrocento palazzo...