MINING: Third-Degree Burn

"I wouldn't advise anyone to invest one nickel in any uranium stock simply because my name has been associated with it. I would hate to see anyone get burned."

So said Financier Floyd B. Odium when his Atlas Corp. (total assets: $109,621,643) bought Vernon A. Pick's Delta uranium mine in southeastern Utah for the record price of more than $9,000,000 (TIME, Sept. 6, 1954). Last week, in Atlas Corp.'s latest financial report," Floyd Odium disclosed that he himself had been badly burned. Instead of having nearly 600,000 tons of ore worth about...

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