Word: slugproof
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Dates: during 1960-1969
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...real boost for the vending boom has come from the improvement in coin-handling devices. Unlike the bad old days in the '30s, today's vending machine is virtually slugproof, returns money if it is empty. The biggest maker of coin-handling devices is National Rejectors, Inc., a wholly owned subsidiary of Universal Match Corp., which is controlled by Frank J. Prince. When Prince took over in 1951, sales were $10.3 million. By acquiring vending companies, Prince brought Universal Match to the forefront of the industry with sales of $72 million, earnings of $3.01 per share...
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