Word: hollanders
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Dates: during 1960-1969
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Grace's main thrust has been into chemicals, and the company is now the U.S.'s eighth largest chemical manufacturer-which puts it among giants. It is also big in the food-and-drink field. Having already acquired chocolate companies in the U.S. and Holland, Grace so far this year has picked up Nalley's, Inc., a snack-food producer in Tacoma, Wash., with annual sales of about $45 million, and Marela, Ltd., a pickle firm in Britain. Before the end of 1966, Grace hopes to buy out Sea-Pak Corp. of St. Simons Island...
...Never Saw. The exhibition of 49 works prepared by Manhattan's Museum of Modern Art, which was exhibited in Holland (see color page) before opening last week at London's Tate Gallery, was aimed at giving Smith his first major international showing. Ironically, it is the one he never saw. In May 1965, while returning home from visiting an artist friend in Bennington, Vt., he drove off the road and was killed. But though his death at the age of 59 robbed him of accolades abroad, he had by his independence set the life style for a generation...
...first half of 1966, which is what the books showed before the adjustment, the company reported a loss of $216,091. The biggest item was to provide a reserve for Taylor's entire investment of $1,142,902 in acquiring 85% of Holland's West-Friesland Eurotransport, Inc. West-Friesland is losing money-as Taylor predicted it would for at least five years. The other adjustments involved the bankrupt Yale Express System, which was being managed by DC, and West Coast Fast Freight, which is now under DC management...
Outlook: Poor. The most promising steel industries in Europe are new ones in Holland and Italy, which, being big, modern and set up near seaports, can undersell the old inland German mills, imprisoned atop their own uneconomic mines. With four new coastal plants opened by Italy's government-owned Finsider, Italian production increased 26% from 1964 to 1965, and is up another 8.3% this year. The Dutch firm of Hoogovens, partly situated at Europoort, where 80,000-ton ore ships can come calling, is expanding output from 2,800,000 to 4,000,000 tons annually...
Yankee Optimism. The vote was a victory for the U.S., but only of a procedural kind. Still to be decided is the question of which reforms should take place, and on this matter the delegates are as divided as ever. One European bloc, including West Germany, Italy and Holland, is in favor of creating a new kind of money, dubbed the "cru" (for composite reserve unit), which would take its place along with the dollar and the pound in the reserves of the world's central banks. Belgium and Switzerland opt instead for merely increasing the borrowing rights that...