Word: steel
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Dates: during 1960-1969
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Sealed Lid. There was nothing to be done. For hours after the blast, smoke made it impossible for rescue teams to search the silo. The explosion had cut off the power, making it impossible to open the 700-ton steel and concrete lid that seals the silo airtight. As flames devoured what little oxygen there was, several men tried to crawl into air-conditioning ducts. The elevator was stalled for lack of power, and the only way up was a single ladder. Trapped workmen piled onto it in panic, and two wedged themselves hopelessly together in one narrow section...
...families that want to fix up their own places, will also give low-income families rent supplements that it hopes will encourage the creation of as many as 375,000 new apartments. The construction industry, now running 3% ahead of last year, will get an additional stimulant to order steel, concrete...
...billion a year school-equipment-and-supply business. Similarly, the $375 million mass-transportation subsidy, conceived to save strangling cities, will pour adrenalin into the economy. Impressed by increasing Government-financed mass-transit spending and anxious to get a chunk of the $8 billion equipment market, U.S. Steel last week introduced a new steel and glass car that can be adapted to both bus chassis and rails. Bigger Bites. There is, of course, another big side to the effects of welfare legislation. Higher social security payments mean bigger bites from both business and workers; the raises will cost corporations...
...tremendous disparity" between point changes in the Dow-Jones average and the dollars-and-cents meaning of those changes. The Dow-Jones index is calculated by totaling the per-share value of 30 blue-chip industrial stocks (among them: A.T. &T., Du Pont, General Motors, General Electric, U.S. Steel), then dividing the sum by a frequently changed divisor-now 2.278-to erase the effect of stock splits and dividends. Thus figured, the Dow-Jones average of those 30 stocks stood at 888.82 at week's end, but their average market price was $67.50. Complained The Exchange: "A one-point...
...investors holding $37 million in unredeemed notes. By now schooled in scandal, Brazilian investors have pulled out of the parallel market in great numbers, resumed investing heavily in stocks. The Big Bust. The biggest scandal of the parallel market involved the Brazilian subsidiary of Germany's huge Mannesmann steel company, which two months ago, to the shock of stockholders, repudiated more than $14 million worth of outstanding notes, claiming that two former directors had issued them without authorization. An gry investors took the company to court, and a legal bankruptcy action is under way. The government has placed responsibility...