Word: kaisers
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Larson had some good cards in his hand, too. Last week, he abruptly stopped haggling with Republic, turned to Henry Kaiser, who had once shown an interest in the plant. Asked Larson: Would Kaiser be willing to pay a minimum rent of $800,000 a year? Kaiser, who needs steel for his Kaiser-Frazer automobiles and knows that he can swap pig iron for it, jumped at the offer...
...Charlie White's anger was as incandescent as molten steel. He fired a sizzling telegram to Larson protesting his "clandestine negotiations" as contrary to "good morals." White claimed that, including tonnage royalties, his offer would have netted the Government $1,275,000 compared with $1,248,000 from Kaiser. (WAA said Kaiser's rental would exceed $1,500,000.) White also wired 403 of his foundry customers that Republic was "going out of the pig iron business." By week's end, the frightened foundries were deluging WAA with protests...
Unperturbed, WAA's Larson curtly wired White to turn everything over to Kaiser-Frazer. Then Edgar Kaiser, Henry's son, dropped in at Republic to take over. Poker Player White felt like the Eastern tenderfoot who started to take in the pot on a royal flush, only to have a Western pro lay down a pair of deuces and announce that he had a Galoola Bird. The Westerner pointed to a sign on the wall...
...women and children brought gifts-carved jade, Meissen chinaware, jeweled watches-to their heroes, the Anglo-U.S. airmen. Some 1,300 German laborers, of whom 75% were women, started work on a new airport in the city's French sector (see cut). Said Christian Democrat Leader Jakob Kaiser: "Fifty days of blockade have proved that what was supposed to force Berlin to surrender to a foreign will has been transformed into democracy's greatest victory in Germany since...
...Securities and Exchange Commission came out fighting another round with Financier Cyrus Eaton. During the four-month investigation of his ole in the Kaiser-Frazer Corp.'s $10 million underwriting fiasco (TIME, May 24), Eaton had tried to slow up SEC by ridiculing, cajoling, pleading and threatening, had finally gone into a clinch with a legal gimmick involving lawyer-client privilege. Last week SEC decided to try for a knockout. It ordered a hearing next month to decide whether Eaton's Otis & Co. should be allowed to stay in business...