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The Nobel Prize

             THE NOBEL PRIZE.
             The Nobel Prize is the first worldwide award given yearly since 1901.This award is accepted as the most prestigious and the highest form of international recognition of intellectual achievement in the field it is given: physics, chemistry, medicine, literature and peace. They are recognized by virtually every scientist, and they are also among the few prizes known by name to many ordinary citizens.
             THE PRIZE: .
             The prize consists of a medal, a personal diploma bearing a citation, and a sum of money the amount of which depends on the income of the Nobel Foundation. (A sum of $1,120,000 accompanied each prize in 1996.) .
             In 1968, the Sveriges Riksbank (Bank of Sweden) instituted the Prize in Economic Sciences in memory of Alfred Nobel, founder of the Nobel Prize. .
             At first, more than three prize winners could share a Nobel Prize, although this was never practiced. Paragraph four of the Statutes of the Nobel Foundation was amended in 1968, restricting the number of prizewinners to only three.
             Earlier, a person could be awarded a prize posthumously if the nomination was made before February 1 of the same year. Since 1974, the Prize may only go to a deceased person who has been named as prize winner for the year (usually in October) but who dies before the Prize Award Ceremony on December 10.
             DR.ALFRED BERNHARD NOBEL (Oct. 21, 1833-Dec. 10, 1896): Dr. Nobel was a Swedish engineer and chemist who invented dynamite in 1866. Educated in St. Petersburg, Russia, he traveled as a youth and returned to St. Petersburg in 1852 to assist his father in the development of torpedoes and mines. Manufacture of a mixture of nitroglycerine and gunpowder, developed cooperatively by the family, and was begun in the small Nobel works in Helene Borg, near Stockholm, in 1863. After a number of serious explosions, which killed several people, Nobel continued experimentation with nitroglycerine in order to find a safer explosive.

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