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Although the U.S. still has the world's largest gold supply, it has been shrinking at an average rate of about 6.5% annually since 1958. This year alone it has already sunk by $455 million, to a 23-year low of $16.4 billion. Since $11.7 billion of this total must be held by law to back U.S. paper currency, that leaves only $4.7 billion in "free gold" to pay off foreign claims-some $14 billion less than the U.S. would have on hand to pay out in the unlikely event that all claims were called at once...

Author: /time Magazine | Title: Nation: THE GOLD DRAIN: How It Might Be Stopped | 6/29/1962 | See Source »

...steam-driven pile and one of the sonic-driven ones were load-tested. Specifications called for a minimum load of seventy tons, but as a safety factor both were tested for double the design load. It was found that with the 140 ton load the steam-driven pile sunk twice as far into the ground as the sonic-driven pile...

Author: By G. ROBERT Lucas ii, | Title: New Sonic Drill Sets Foundation | 5/1/1962 | See Source »

...based on a single theme ever assembled by government or private industry, will later be used for educational and scientific purposes. One of the fair's most spectacular features is its International Fountain, designed by two young Tokyo architects whose plan won a $250.000 international competition last year. Sunk in a 100-ft. bowl of white crushed limestone, the fountainhead looks like a bristling World War II sea mine, shoots jets 100 ft. into the air, and presents 20-minute programs of changing shapes, colors and music. Also to be preserved after the fair: an 800-seat theater...

Author: /time Magazine | Title: Fairs: Go West, Everybody | 4/27/1962 | See Source »

First measurements came from radio sensitive Japan, where radioactivity had sunk to a comfortably low winter level after last fall's Russian tests in Novaya Zemlya. In December the index figure was an insignificant 6.77 millimicrocuries.* Radioactivity stayed low during January and February, but since then it has climbed steeply. By March it had reached 29-48 millimicrocuries, and scientists of Japan's Meteorological Institute estimate that it will reach about 50 millimicrocuries for the month of April. After the notably "dirty" Soviet tests of 1958, the figure peaked at 94.45 in May of 1959. Japanese meteorologists point...

Author: /time Magazine | Title: Science: Fallout with the Daffodils | 4/27/1962 | See Source »

...feel sated. Rome's Lo Spècchio yawned, "Basta cón Liz (Enough of Liz),"and Milan's earnest Corriere della Sera austerely vowed to "try not to publish anything concerning the infernal Elizabeth for 24 hours.'' But with some $20 million already sunk in the seemingly bottomless Cleopatra, 20th Century-Fox had scant choice but to try to make a virtue of the peccadilloes of its irreplaceable star. Where Fox President Spyros Skouras last month jetted to Rome in a frantic effort to suppress Liz's infatuation for Burton, the studio...

Author: /time Magazine | Title: People: Apr. 13, 1962 | 4/13/1962 | See Source »

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