Word: diamond
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Dates: during 1950-1959
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...just to make sure that the outside world would not be so misguided in the future, a group of South Africa's richest men, headed by Sir Francis de Guingand, onetime Chief of Staff to Field Marshal Montgomery, and including Harry Oppenheimer, head of the De Beers diamond trust, announced that they were setting up a foundation devoted to promoting "international understanding of South Africa's way of life, achievements and aspirations...
...PAUL H. DIAMOND St. Louis...
MARTEREAU, by Nathalie Sarraute (250 pp.; Braziller; $3.75). This novel, by the author of the diamond-hard Portrait of a Man Unknown (TIME, Aug. 4, 1958), suggests that reality, like a geometer's plane, has only surface, no depth. A young male invalid, living with his rich aunt and uncle, develops an obsessive womanish curiosity about manners and motives. He becomes acute enough to predict the exact course of his relatives' household skirmishing, and concludes therefore that he understands the skirmishers. His error does not matter until he begins analyzing Monsieur Martereau, a family friend-a steady, solid...
...Beers, however, could not file permanent patent application on its process until it was sure that it could produce the synthetics on a sustained commercial basis. While De Beers continued work on the project, G.E. was taking approximately 10% of the U.S. industrial-diamond market away from De Beers' natural industrial stones, indicated that it could supply half of the U.S. market for industrial diamonds. Synthetics are not only priced lower than natural stones, but manufacturers say that in many cases they are substantially more efficient...
...Beers' Chairman Harry Oppenheimer, who took over when his father died in 1957, says he will not produce the synthetic stones unless it becomes "economically necessary." The diamond combine prefers to concentrate on its monopoly on gems and natural industrial stones, developed its process to prevent any other synthetic-diamond producer from drastically undercutting natural industrial diamond prices. Despite De Beers' discovery, G.E. has a long head start, is improving its stones. It disclosed last week that it had developed a diamond material that can be used in metal-bonded wheels, a use that was not possible before...