Word: alumina
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...weightiest brickbat had been the charge that Alcoa had blocked the disposal of surplus Government aluminum plants. Alcoa had refused, said SPAdministrator W. Stuart Symington, to license its patents on its process of converting low-grade bauxite into alumina (which is in turn smelted down to aluminum). This had blocked SPA's deal to lease the Hurricane Creek plant (which operates on low-grade bauxite) and Jones Mills aluminum plant to the Reynolds Metals Co. (TIME, Dec. 31). Alcoa's frail, grey-haired vice president, I. W. Wilson, had indignantly denied the charges. He did not stop there...
...Washington he sat down with Symington and held a joint press conference. Alcoa, they announced, had decided to give the use of its patents covering extraction of alumina from bauxite to the Federal Government. It can license operators of Government-owned plants to compete with Alcoa. In an atmosphere perfumed with sweet reasonableness, Wilson told why Alcoa had done it. Said he: "Mr. Symington is a very fine salesman...
...rent to RFC on a sliding scale, from $535,000 a year to $1,070,000, for the $29,000,000 Jones Mill aluminum-making plant, and a rent of $273,000 and up a year (depending on output) for Hurricane Creek, the nation's biggest producer of alumina (the oxide from which aluminum is made...
...much more competition would Reynolds' big, bluff president Richard S. Reynolds give Alcoa? With Hurricane Creek, Reynolds now has a capacity of 1,755 million lbs. of alumina v. Alcoa's 2,100 million lbs. In production of virgin aluminum, Alcoa still outstrips Reynolds. But Reynolds has enough excess alumina capacity to make SPB feel that aluminum plants are no longer dependent on Alcoa...
Then Wilson gave Alcoa's solution. It offered to buy or lease the Government's Hurricane Creek, Ark., biggest U.S. alumina plant, make and sell alumina (raw material for aluminum) to anyone who wanted it at a price, which the Government would...