Word: ores
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Dates: during 1930-1939
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FROM experience, Dr. Dexter Merriam Keezer, president of Reed College (Portland, Ore.) has learned that heavy academic robes are stifling. Amherst A. B., Cornell M. A., Brookings Institute Ph. D., Dr. Keezer taught variously and brilliantly at Dartmouth, Cornell, and the Universities of California and North Carolina, but he was a fish that leapt occasionally from the dry bank into the stream to get into the swim of things again. He worked on the Denver Times and edited the Baltimore Sun, Reed College found him a year ago working on the NRA Consumers' Advisory Board...
...while profits before depletion, the usual method of showing copper earnings, more than doubled-$13,164,000 last year compared to $5,719,000 the year before. Kennecott's copper production was 418,000,000 lb. Observed President Earl Tappan Stannard: "[Kennecott] has large ore reserves well distributed geographically, and its mining properties are presently equipped to produce, and could maintain for many years an output of over 1,000,000,000 lb. of copper per year at a low cost of production...
Climax was a War baby. Sired in 1917, by American Metal, the company took over huge ore deposits near Climax, Colo., a little railroad station perched atop the Fremont Pass at an altitude of 11,000 ft. Gold diggers had discovered the deposits, thought them graphite. Even after they proved to be molybdenum no one was particularly excited because the ore was low-grade (8 lb. to the ton) and Scandinavia and Australia, with small reserves higher in metal content, could more than supply what market there...
Homestake's boom began mildly in 1927, when better grades of ore were unearthed and gold recovery per ton started to rise sharply. A ton of the ore was worth $4.50 in 1929, $7 in 1932, $9 in 1933. When the price of gold jumped through the Roosevelt hoop, emerging at $35 an ounce, returns per ton rose further, and now average nearly $14. Homestake's per share earnings went up from $2.23 in 1926 to $9.94 in 1932, $19.94 in 1933, $28.29 in 1934. Last year they jumped again to $32.43 per share. Dividends have swelled from...
Near Aurora, Ore., Farmhand Bert Jeskey heard a boar-like bellowing from the pasture soon after sunrise. Investigating, he found an eight-foot, 800-lb., slithering, legless hulk that reared up on flippers at sight of him and lunged six feet at a thrust. Since the Pudding River was a mile and a half away and the Pacific Ocean 135 miles away by water, Jeskey refused to believe that it was a sea lion until State Police arrived and told him it was famed Sergeant Finnegan of the Oregon State Police...