Word: italianized
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Dates: during 1950-1959
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...Italy, where Communism is big business, Reale held the key position of party administrator. As such he sat on a three-man committee, supervising the flock of import-export firms which the party has set up or taken over to handle Soviet-bloc trade in Italy. Italian businessmen rapidly found out that the only sure way of doing business east of the Iron Curtain was to let these Red companies handle their trade. By last year, U.S. experts estimate, the firms handled more than half of Italy's $123 million East-West trade...
This was a clever way to finance the huge Italian Communist Party, the biggest west of the Iron Curtain (estimated 1,600,000 members). "The party cannot exist on dues," says Reale frankly. Apparently, however, the profits have been too big for individual Communists to leave solely to the party. Two years ago Augusto Doro was accused of making lucrative side deals for personal gain while manager of the oldest Red trading agency (SIMES) in Milan. Shortly afterward Eugenio Reale himself quit all his party offices, including his key post overseeing the foreign-trade agencies...
...tired of political life, and asked for help in setting up a little import-export business in art objects. Greuter arranged to sell him the stock of an acquaintance's long-moribund holding company, Terbita. But far from quitting public life, Reale got elected to the Italian Senate, and sent a young Italian named Norberto D'Allessandri to Zurich to take care of Terbita. D'Allessandri conducted affairs well, for he soon drove a Jaguar, took an expensive apartment. Yet when tax officials called, D'Allessandri could show them no books. Swiss police then raided...
Terbita's system was a model of simplicity. The agency would request an import license from France or Britain for some hard-to-get strategic item. With this in hand, it would then get an Italian license to export the raw materials to the allied country. But no consignment ever got to Britain or France. Either in Switzerland or in Belgium, where customs officers paid small heed to in-transit goods, the agency transshipped the stuff-from Switzerland by rail to Vienna and the East, from Antwerp by sea to Polish Gdynia...
...Italian-born Sculptor Harry Bertoia, 41, the Craftsmanship Medal, and to Muralist Hildreth Meiere, 63, the Fine Arts Medal, by the American Institute of Architects, meeting in Los Angeles...