Collar stays

The best billiard balls were made from elephant tusks, which are beautiful and have good bounce. Ivory was also used for combs, buttons, collar stays for shirts, cigarette holders, chess pieces, and many other ornamental articles. Ivory is obtained by hunting and killing elephants to extract their teeth, which is especially valuable from old and mature males. The extinction of elephants was avoided when John Wesley invented celluloid by combining nitrocellulose with camphor. 

Lift the die set carefully by holding onto the lower anvil so that the collar stays in place. If you are careless with this operation, the collar may move enough to allow the powder to escape. Open the handle of the handpress slightly, tilt the press back a bit, and insert the die set into the press. Make sure that the die set is seated against the side wall of the chamber. Close the handle. It is imperative that the die set be seated against the side wall of the chamber so that the die is centered in the chamber. Pressing the die in an off-centered position can bend the anvil pins. 

Males and females in the group mate at any time, but the young, usually twins, are generally bom in summer after a gestation period that lasts about 115 days for the collared peccary and up to 160 days for the white-lipped peccary. The newborn peccaries can move almost immediately, and they will stay with the mother for several months. 

The result for the company is that EURIBOR will effectively be collared in the range 2.50% to 3.50%. If EURIBOR ever rose above 3.50%, the company s costs would be capped at that level. The downside is that whenever the EURIBOR setting was below 2.50%, the company would not pay less. As neither the cap nor the collar include the first interest period, the company in this example is assured of six months borrowing based on a EURIBOR of 2%. Thereafter, even if EURIBOR were to stay low, the company s borrowing would be based on a EURIBOR of at least 2.50%. This may nonetheless still prove less expensive than paying the fixed rate of 3% throughout, which is what the swap would involve. 

As the chart shows, the company s unhedged cost is simply 1% over EURIBOR, reflecting the company s 1% credit margin. With the collar in place, the company s borrowing costs are unaffected when EURIBOR resets in-between the strike rates of 2.59% and 4%. This is because the collar has a zero cost, and neither the cap nor the floor are exercised when EURIBOR stays within this range. If, however, EURIBOR exceeds 4%, the cap compensates the company for the excess interest paid, capping the effective cost at 5%. Similarly, if EURIBOR fixes below 2.59%, the company s borrowing costs are floored at 3.59%. 

Although concepts leading to the manufacture of plastics evolved during the 1860 s, the official appearance is generally regarded as 1870 when John Wesley Hyatt patented celluloid. This material found many uses, such as stays for shirt collars and cuffs, but had a major deficiency In that it burned easily. In 1909, Leo Baekeland Introduced a fire-resistant, all synthetic plastic called Bakelite which pointed the way to the Invention of dozens of successor thermosets. 

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