Word: fontana
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Plant Payoff. Henry Kaiser, who still owes the Government $100 million for his Fontana steel plant, thought he saw a way to pay off the debt: he hiked his prices an average of $30 a ton (on top of the $9-plus increase which he and other steelmakers had just posted). Kenneth Norris, chairman of the Western States Council, .called it "a knockout blow ... by the man who talked so loud about what he was going to do to build Western industry...
WORCESTER. Oct. 17--Hu Flung sang "Da last Grosa summer" as he Deffley reached for his Kissel Ball. "We got Moran we Barton for last week, but we will Troy to win this one in Stetter losing it. You know this Holy Cross Haas no Fontana youth...
Unforgivable Debt. The RFC bluntly rejected Henry Kaiser's plea that it write off $85 million of the $123 million it had loaned him during the war to build his Fontana (Calif.) steel plant. Kaiser had contended that the writeoff would be in line with the $162 million loss the Government took on the war surplus sale of its $200 million Geneva (Utah) plant. Said RFC: the situations were not at all similar. U.S. Steel bought Geneva - Fontana's competitor-through open bidding long after the plant was built. But Kaiser himself built, operated and reaped the wartime...
...Charge. Henry J. Kaiser joined the fray. As owner of the $123 million, Government-financed Fontana (Calif.) steel plant and part owner of Portsmouth Steel Corp., he was nominally on the side of the industry. But in a nationwide broadcast, Kaiser, to no one's surprise, joined the industry's critics. Said...
...economy of our country . . . thousands of small manufacturers [are] dying for steel; for lack of steel, failures of small businesses are becoming a daily occurrence." Kaiser also managed to get in a plug for his old plea that RFC should wipe out the $85 million balance due on Fontana (TIME, June...