Word: copper
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Dates: during 1940-1940
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...advertised world's highest incorporated city, has seen some fancy goings on from its perch two miles up in the Rocky Mountains. Since the discovery of silver touched off an avalanche of fortune seekers in 1878, its mines have yielded some $600 million in silver, gold, lead, zinc, copper, manganese. Today it is still a rowdy, frontier mining town. Queen of its night life is the Pastime's Blonde Bobbie, who relaxes at the piano between rounds, amazes customers with a repertoire ranging from blues to classics (all played by ear). On West Second Street flourishes...
When Authoress Helen Keller made her annual shopping trip to the Manhattan Christmas sale of articles made by the blind, she received from the hands of Abraham Kreisworth, blind and deaf like herself, a hand-hammered copper tray which he had made especially for her. Miss Keller's purchases showed a partiality for blue, which "represents peace." and yellow, "symbol of sunshine...
Main objection to this transaction, of course, comes from the high-cost domestic producers, who do not like to see their Government buying foreign copper (and selling it at a 2? profit) rather than theirs. The only philosophy for their wounds is New Deal Pan-Americanism: countries like Chile, in this emergency, in some respects deserve the status of a 49th State. Chile's copper economy depended on lost European markets; France took 121,000 tons in the first four months of 1940, had 100,000 tons more on order when Hitler put her out of business. Chile...
Diplomacy had one other interest in the Henderson copper deal this week. Chile is afraid of great British Rhokara and Katanga mines in Africa, whose lower labor costs enable them to produce for as little as 2½?a pound. To protect Chile against being crowded by Africa in the new tariff-circumventing U. S. market, the British may recognize the U. S.'s special hemispheric relationship with Chile, agree to forget about the U. S. market...
Even the U. S.'s high-cost producers may eventually have their day. The Henderson plan is to treat them as a last reserve against the day when U. S. copper consumption rises to something like 1,500,000 tons, or when war in this hemisphere makes Chile look too distant. In such an emergency, Henderson would negotiate individual contracts with the small fry at around 14? a pound. But the posted price for big-league copper would stay where...