Word: pulping
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Dates: during 1950-1959
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...Marcel Palmaro, head of Lehman Bros.' foreign department, were soon being buttonholed by Burmese industrialists, Taiwan manufacturers, Brazilian bankers. Projects from underdeveloped countries eager for foreign capital were produced by the hatful. India is ready to open its great bamboo forest in the Mysore province for paper and pulp production if it can get $8,500,000 in foreign exchange in return for half ownership. India's Orissa province needs $1,500,000 in foreign capital to build a $3,700,000 brick and ceramic factory, which after two years should yield a tax-free dividend...
Profits in Bottles. Some projects were agreed on in short order. One notable example: a syndicate to finance a $9,000,000 pulp-and-paper mill in Pernambuco, Brazil, set up by Norbert A. McKenna, partner in Wall Street's Reynolds & Co., and Roberto de Oliveira Campos, representing Brazil's National Economic Development Bank. And for some doubters, some of the best evidence of the opportunities for foreign investments comes from U.S. and Canadian businessmen who were stationed or have traveled abroad. Among the most persuasive...
...bark broadside to the wind. In the nightmare of ripping canvas and splintering timber, much of the vessel's cumbersome top hamper came crashing down, covering the deck with a lethal spiderweb of flailing steel cables. Heavy wooden yardarms slashed right and left, battering lifeboats and rafts into pulp, and punching holes in the deck itself...
Cross-Country Effect. The effects of the rate touched all of Canada. In Montreal a spokesman for the Canadian Pulp and Paper Association, whose members sell newsprint for U.S. dollars, complained that the "abnormal and artificially high value of the Canadian dollar" had created an "urgent and pressing problem" for ex port industries, which still must pay their domestic costs in high-priced Canadian dollars. In Alberta cattle growers found the interest of U.S. buyers waning in the face of a 6% exchange...
...agency, last week set up a committee of top-level U.S. and Canadian businessmen, educators and labor leaders for a thorough study. The committee is headed by Quaker Oats Co. Chairman Douglas Stuart, onetime (1953-56) U.S. Ambassador to Canada, and Montreal Lawyer Robert Fowler, president of the Canadian Pulp & Paper Association. Among the likely points of focus for research...