Word: fontana
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...Letter from Italy. Nevertheless, a few people in Italy remembered Francesco, and at the end of World War II he was pleased to get a letter from Francavilla Fontana, his struggling home town on the featureless plain of Brindisi. The letter was from a family with ten children, so desperately poor that they were reduced to clothing themselves with paper bags. Francesco did not know them, and furthermore his shop was making only $15 a week. But, he reflected, his wife was making good wages at a ladies' belt factory; on re-reading the letter he could not help...
Only a month after paying off the last of a $123 million RFC loan on his Fontana steel mill, Industrialist Henry Kaiser was back hat in hand last week knocking on RFC's door. This time he wanted $38 million for his auto company, Kaiser-Frazer, which already owes RFC $43 million. K-F President Edgar Kaiser explained that the company needs the money to tide it over until it can sell its backlog of 18,000 cars. He said that the Government's credit restrictions had slowed up its sales so much that...
...news from Sawyer went out, two steel companies showed that they meant business. U.S. Steel Corp. announced plans to boost capacity of its Tennessee Coal, Iron & Railroad Co. by 500,000 tons (to 3,350,000) within the next two years, and Henry Kaiser announced expansion plans for his Fontana mill (see below...
Last week Henry had a different kind of news to report. The RFC, he said, would soon get back the $91 million it had lent to Kaiser Steel, which operates the Fontana (Calif.) steel plant. What was more, Kaiser planned to expand Fontana's capacity by 15% (to 1,380,000 tons a year) and install a tinplate plant with a capacity of 200,000 tons a year. With the tinplate facilities, he hopes to get a big slice of business from the West's canning industry, which consumes some 700,000 tons of tinplate a year, most...
Since the cost of duplicating Fontana is estimated at $200 million, at least, it looked as if the bonds and stocks were amply backed, especially since Fontana has always made a profit...