Word: ingot
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With six plants in California and one each in Arizona and Texas, Consolidated is the biggest independent steel fabricator west of the Rockies. Its sale (for $8,293,319) would give Big Steel, which already has well over 51% of Pacific Coast ingot capacity, the lion's share of the fabricating capacity as well. This, said Justice Stanley Reed, who wrote the majority opinion, would in no way violate the Sherman Antitrust Act. "Size has significance ... in an appraisal of alleged violations," he conceded, "but the steel industry .is also of impressive size, and the welcome westward extension...
Britain and the U.S. announced last week that German industry in their two zones would be based on a production ceiling of 10.7 million ingot tons of steel a year. This was quite a jump above the 5.8 million ton level set last year for all of Germany...
...IRON to STEEL. In May, the House approved the Government's motion to transfer "appropriate sections" to public ownership. After further study, a bill will be offered, probably recommending nationalization of iron ore, coke ovens unaffected by the coal bill, pig iron and most steel ingot manufacture, heavy rolling mills and some finishing plants. Just where the line can or will be drawn is a question. Meantime, the Government will appoint a Steel Control Board to oversee the industry and insure raw materials supply, and may carry out modernization schemes taken from the industry's own plan...
...public at $10 a share, as soon as its registration statement is made effective by the SEC, and sell another 300,000 shares at the same price to K-F and Graham-Paige Motors Corp. With the cash Portsmouth plans to buy the Wheeling Steel Corp.'s ingot works at Portsmouth, Ohio and the Emperor Coal Co. of Kentucky...
Last week, at the dumping scene, Neilsen plunged into six feet of water. Under the soft mud he felt "two areas-each about 20 feet square . . . paved with blocks." He brought up a 75-lb. platinum ingot (worth $42,000). Army engineers are dredging for the rest of the hoard...