Word: soci
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Dates: during 1960-1969
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...stay on the job, and the company is asking its managers to cooperate for the time being in running the mines. If nothing else, Union Minière is anxious not to drive Mobutu into nationalizing other extensive enterprises in the Congo owned by its parent company in Belgium, Société Générate de Belgique. Mobutu, who made no provisions for compensating the thousands of European stockholders in Union Minière, is demanding an additional $150 million from Union Minière as money he claims the Congo has been cheated...
...mighty Société Générale de Belgique, a supercombine that controls a fourth of Belgium's industry and half of the Congo's, is growing mightier still. Last week it announced that its Banque de la Société Générale, by far the largest bank in Belgium, would gobble up two other banks, the Banque d'Anvers and the Société Belge de Banque. The combine's banking subsidiary will thereby increase its deposits by nearly 20% to more than $2 billion...
...even more striking effect of the merger is that it will link la Générale with another Belgian giant: the Solvay chemical empire, one of the world's biggest family-owned firms. Solvay has long held a controlling interest in the Société Belge de Banque; but the bank's limited deposits of $175 million have proved increasingly inadequate for Solvay's growing needs. Solvay can now tap the vast resources of the banks with which it is merging, and la Générale will strengthen its connection with...
Onassis did not come emptyhanded. Rainier was originally delighted to see him, because the Greek shipping magnate invested some $1,500,000 in 52% of the stock of the Société des Bains de Mer, an Edwardian sprawl of properties that includes the casino, the yacht club, the 60-year-old Hótel de Paris and about one-third of Monaco's 375 acres. Bien, thought Rainier, Ari will also bring in his rich friends, make the roulette wheels spin as they used to before the war-and use the S.B.M.'s reserves to build...
Most seriously hit was El Cobre, a tiny copper town run by a subsidiary of Baron Guy de Rothschild's Société Minière et Métallurgique de Penarroya. For 35 years the mineowners had channeled their slag into a reservoir behind a 230-ft. earth dam. Just below the dam were the wooden huts of the town's 400 miners. When the tremors came, the dam gave way, and the thick, muddy waste exploded out across the valley, burying 200 people in seconds. One woman who saw it coming managed to scramble...