Word: raggatt
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Died. Sir Harold Raggatt, 68, long-time director of Australia's Bureau of Mineral Resources (1942-51) and Department of National Development (1951-64); of a heart attack; in Canberra. Sir Harold planned the first complete geological survey of the continent, welcomed foreign capital for development of the desolate Out Back, eventually saw it all pay off as enough oil and gas were discovered to make Australia almost self-sufficient...
Department of National Development, Geologist H. G. Raggatt, then pointed out that more dry holes would be drilled than good ones in Australia's search for oil. Heartened at that bit of sound reasoning, Aussie traders started bidding stocks up again. Oil and uranium issues recovered about 80% of their losses. Their confidence all but fully restored, investors down under were happy again. Said one: "It's like the lottery...
...Raggatt, the bureau's chief, thinks the meteor must have struck thousands of years ago, before the black aborigines settled in Australia. Otherwise, he says, "there must have been such a hell of a bang that it would have been recorded in native legend...
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