Word: pools
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Dates: during 1960-1969
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...deeper than his competitors. "Mark's whole body ls so flexible," says his father that the water just seems to slip past him. That flexibility also gives him an abnormally long stroke; in the butterfly he can swim the length of a 25-yd pool with only 13 strokes, while most swimmers require 15 or 16. "I'm slower but I'm faster," he explains. "I mean that I stroke slower-but I get there faster...
...them," explains Clifford Roberts, 74, the austere, bespectacled New York investment banker who, as Jones's deputy, rules both Augusta National and the Masters tournament with an iron hand. "We don't want to look at the ugly things the year round." No tennis courts, no swimming pool, no children's playgrounds adorn the Augusta National-nothing, in short, to detract from golf...
...hitherto responsible for 80% of the world's gold trading, reopened after a two-week shutdown aimed at stifling the gold-buying stampede that threatened the dollar. Now the question was whether the free-market price of the metal, no longer supported by the disbanded seven-nation gold pool, would climb so far above its $35-per-oz. official monetary level as to rekindle speculative frenzies...
...South Africans do so, Swiss bankers last week insisted that they can challenge London's long supremacy in the market. Their customers siphoned off some $2 billion worth of gold from London between the mid-November devaluation of the pound and the mid-March closing of the gold pool, when the U.S. and six other countries stopped selling gold to the private market. That huge supply, equal to about two years' South African output, must remain the key source of bullion for free-gold trading for some time...
...Swiss Pool. The three largest Swiss banks-Credit Suisse, Union Bank of Switzerland and Swiss Bank Corp.-have formed a joint gold pool to share purchases, sales and profits. In place of the London dealers' twice-daily meetings (10:30 a.m. and 3 p.m.) to fix the price of gold, the Swiss-bank traders confer about prices every few minutes throughout the day over direct phone lines. Instead of collecting a commission, the Swiss charge buyers of gold more than they pay sellers. That "spread" started out as high as $3 per oz. in the first days after...