Word: eca
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...goods supplied under ECA aid have carried the label: "For European Recovery, Supplied by the U.S.A." Last week ECAdministrator William C. Foster announced a change to reflect ECA's change in intent and nature from economic recovery to military preparedness. Henceforth, the label will read: "Strength for the Free World-from the United States of America...
Last week 40 trucks bought with ECA money and loaded with blankets and clothing drove ashore at Pusan, the first to arrive of 214 trucks which ECA bought originally to rehabilitate the South Korean economy. More supplies were on the way. But at best, all that the refugees could look forward to was huddling in warehouses or other improvised shelters, waiting for rice handouts, sometimes literally burning up the buildings to keep warm...
...agency would coordinate the rearmament output of the twelve NATO members. Little progress had been made to date on standardization of equipment. The U.S. would be represented on this board by William L. Batt, a veteran World War II production man, former president of the S.K.F. Industries and present ECA chief in London...
...starter, Connie Hilton last week planted the flag of his empire firmly atop Monte Mario, one of the seven hills of ancient Rome. There, financed by the Italian government with an assist from ECA, a new $6,000,000 hotel with 400 rooms will be built. When it is finished in the spring of 1953, Hilton will put between $300,000 and $400,000 in as working capital, and operate it under a 20-year lease. He will turn over 70% of the profits to the Italian owners, keep a tidy 30% for himself. In similar deals, Hilton intends...
...Europe except the Soviet Union and . . . these forces constitute an important element in the defense of Western Europe against Soviet aggression." The President wanted Congress, when it reconvened Nov. 27, to approve emergency funds to feed the drought-stricken Yugoslavs. As a stopgap until Congress took up the matter, ECA had already diverted $11,500,000 worth of flour from its Italian and German stocks. The Export-Import Bank rushed off a quick $6,000,000 for drought relief out of the $55 million in U.S. credits already granted to Tito. The first U.S. relief shipment arrived in Yugoslavia last...