Word: oz.
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Camera buffs may continue urging subjects to "Smile," but there probably will be little smiling on the other side of the shutter. Reacting to the rise in the price of silver from $6 per oz. to a high of $41.50 over the past year, Kodak last week announced increases of up to 75% on its whole line of film products. A twelve-exposure cassette of Kodacolor II, for example, went from $1.86 to $2.15, and a 36-picture roll of Kodachrome slides jumped from $4.40 to $5.29. The steepest increases were for graphic arts films and photo typesetting paper used...
...thin piece of plastic. Silver also captures the original image for color pictures, but is later replaced by colored dyes during development. Nonsilver film is being manufactured, though it is used primarily for slow-exposure microfilm. In all, the photo industry accounts for nearly half of the 160 million oz. of silver that the nation consumes annually...
While waiting and hoping for silver prices to decline, Kodak has stepped up its recycling procedures. The company already recovers 20 million oz. of the metal a year in processing amateur film and in scrap from its manufacturing operations. Even the silver that is punched out to make the tiny sprocket holes on 35-mm and home-movie film is meticulously collected and used again...
...paramount silver hoarder. Hunt and at least one brother, William Herbert Hunt, have amassed a new Comstock Lode. Over the past nine months they have earned an estimated $2 billion to $4 billion, and one former business associate sets the Hunts' silver holdings at 100 million oz. Even for a man who could play Monopoly with real money, the silver boom is stunning...
...Hunt ventured into silver in 1973 after Libya nationalized his 8-million-acre oil holdings. Says Hunt: "Silver looked safer than overseas oil concessions the way things were going. And precious metals were a good hedge against paper money." In late 1973, when the price was around $3 an oz., Bunker and Herbert went into silver Texas-style, buying an estimated 35 million oz. of silver futures. The brothers waged a bitter fight in 1977 to buy control of Sunshine Mining Co., which owns the nation's largest silver mine. In a rare defeat, their offer was rebuffed...