Word: sevens
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Dates: during 1950-1959
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Swedish seaside resort of Saltsjoebaden, near Stockholm, as 79 delegates from seven nations-Britain, Norway, Sweden, Denmark, Switzerland, Austria and Portugal-gathered to put the finishing touches to their own free-trade association, known familiarly as the "Outer Seven" (though some of its members think the name invidious). Recognizing, in the words of one British official, that "we simply cannot let the Common Market Six build up walls we may never be able to scale," the Outer Seven have decided to get their commerce into step with the Common Market. Thus their draft plan envisions a tariff reduction...
...surest measure of the new sluggers comes from Washington's small-fry fans. In the free-trading market of bubble-gum baseball cards, a single Mantle or Ted Williams used to command seven lesser players. Last week a card-swapping youngster firmly announced the new prices: "I'll give 20 for one of Killebrew." What about Allison? "Twenty, too," he said, "but nobody...
...left alone altogether. The game has grown too big and too dangerous. All told, says A.R.S., some 10,000 amateurs are fiddling around with rockets today. During a sample six-week period, 162 of them were seriously injured. At that rate, a teen-age rocketeer has one chance in seven of getting hurt each year...
...steel industry had good reasons for believing that its new line was not only hard but realistic and well timed. It was well prepared for a strike; steel customers had enough inventory for seven weeks or more, would still be there as a clamoring market for steel once a strike was over. Steelmen also counted on the fact that U.S. steelworkers, already the highest paid of the Big Three unions, are aware that a wage-and-price boost might bring more inflation to nullify a pay rise, give a boost to foreign competition, and eventually cost jobs in the mills...
Despite its swift progress, the industry is on the verge of new breakthroughs in steel manufacturing and processing that could mean substantial cost cuts. The most important development in steel in decades is the basic oxygen process, developed in Austria seven years ago, in which a jet of pure oxygen is blown into molten steel held in a special converter. The oxygen accelerates the refining action of the metal, burns out impurities, uses less scrap metal. An oxygen vessel costs only about one-half of open-hearth facilities, turns out steel ingots in 35 minutes, v. ten to twelve hours...