Word: ruhr
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Dates: during 1960-1969
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Socialism. Just how socialist is Britain's new government likely to be? While Wilson indulges in some ritualistic patter about Wall Street operators and Ruhr barons, he stresses science more than socialism, efficiency as much as welfare. Besides, a great deal of Britain is socialist for keeps, no matter who is in power. Coal mines, railroads and a segment of steel are nationalized already; the gas and electric industries are run by public corporations, as are airlines, broadcasting, canals and atomic energy...
...cost of money also depends on who the borrower is, how much he needs and why he needs it. By borrowing millions of dollars at a time, modern corporations can usually get lower interest rates. A Ruhr industrialist can often negotiate a 4½% loan, but a Bavarian woodcarver might have trouble whittling down the rate even to 7½%. A New Wave film producer in Paris must pay about 32% for a loan that an established French producer could get for only...
...inauguration of the Moselle River Waterway. After six years of work and an investment of nearly $200 million, the Moselle has been widened and provided with locks, thus making the river navigable for big barges and giving the steel mills of Lorraine an easy link to the Ruhr Valley's coal...
Suspicion of Fraud. Under German law, prosecutors need not immediately bring charges against arrested suspects, and the Koblenz prosecutors directing the Henschel case were tightlipped. Ruhr-born Goergen was simply confined to a Kassel jail on "suspicion of fraud against the German government." But in the German business community, the word spread that the charges involved faked invoices and old parts passed off as new in a $16 million defense contract awarded to the Henschel Works to provide spare parts for U.S.-built M-47 and M48 tanks used by the West German army...
...last week was no exception. Britain was building the world's most powerful nuclear station on an island off the Welsh coast, and two private utilities announced that they will build West Germany's second commercial atomic plant near Lingen in, of all places, the coal-rich Ruhr...