Word: alcoa
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...whose boss, Richard Samuel Reynolds Sr., is a nephew of the founder of R. J. Reynolds Tobacco Co. (Camels). Also a fabricator of aluminum sheet, rods, tubing and extruded shapes, Reynolds Metals imported about half of its virgin aluminum from France until war interfered, has since been a reluctant Alcoa customer. Last week, having arranged to get bauxite from Dutch Guiana, Reynolds got approval of a $15,800,000 RFC loan to build ingot smelters, probably in Alabama. Ingot smelters consume electricity the way a St. Louis bleacher crowd uses pop on a hot day. Like Alcoa...
...rest their cases in the Government's anti-trust case against Aluminum Co. of America. The 40,000 pages of testimony, ranged along 15 feet of shelf space (plus another twelve feet for exhibits), contained the evidence for and against the Government's charges: 1) that Alcoa monopolizes 100% of U. S. capacity for smelting bauxite ore into aluminum ingots; 2) that it monopolizes 90-95% of the U. S.'s scanty bauxite deposits; 3) that through a "stooge" associate, Canada's $80,000,000 Aluminium Ltd., Alcoa controls world production and prices. These controls, claims...
...increase in 1914-16, and modest 1?increase in 1937, its price record includes cuts in the inflated 1925-29 period, two more cuts since the suit began-the second last week by 1? a Ib. to 18?, the lowest price ever. As for the bauxite monopoly, Alcoa pointed to plenty of uncontrolled low-cost ore in Surinam (Dutch Guiana), high-cost ore in Arkansas. As for national defense, Alcoa pointed to $26,000,000 worth of plant expansion in 1937, $30,000,000 worth last year. As for the ingot monopoly, Alcoa's claim has always been that...
...best customers is Aluminum Co.. of America, whose big mill at Alcoa, Tenn., is loaded with orders for aircraft parts. Alcoa, watching TVA's firm-power sales expand, feared it might be elbowed out of the TVA reserve power on which it relies for peak-season production. (TVA withdrew 30,000 kw. from Aluminum Co. on July 1.) Alcoa welcomed TVA's promise of new capacity, but wanted still more. Proposing to build two hydro stations of its own (90,000 kw.) on the Little Tennessee, Alcoa asked the Federal Power Commission whether it claimed jurisdiction over...
...lawyer Baker left the courtroom last week to attend his newborn infant, the Alcoa suit had already smashed all long-distance records for U. S. court cases. Yellow with age are the early pages of testimony in its 61-volume record. Stacked high in the courtroom are the 68 volumes holding 1,462 exhibits. Still the end is not in sight. Maybe next June, the Alcoa case's second anniversary. Maybe not before election next November. When it does come, it will not be the end. The U. S. Supreme Court will write the final chapter...