Word: leitz
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Many of the oldtimers, e.g., Krupp and Ernst Leitz (Leica cameras), are also back in business. Some units of the old I.G. Farben chemical combine, broken up after the war, are bigger than ever. And while the old cartels have been officially banned, price-fixing and trade agreements still play an important part in the German economy. A strong movement is afoot to legalize cartels again, despite the opposition of Economics Minister Erhard and the evidence of how free competition rebuilt the country...
When the Justice Department's Office of Alien Property got ready this year to sell Manhattan's E. Leitz, Inc., the U.S. distributors of Leica cameras, it took pains to see that E. Leitz did not fall back into the hands of its German parent, Ernst Leitz of Wetzlar (TIME, June 16). The Justice Department remembered what had happened after World War I. Then Alfred Traeger, the former manager of the U.S. branch of Leitz (also seized by the Government in World War I), bought the company from the Government's alien property division...
Dunhill, which had planned to sell Leicas alongside its pipes and tobacco, ran into trouble the day after it bought Leitz. The German company informed Dunhill that no more cameras would be delivered to it. Last week Dunhill sold the U.S. company to Henri Mann, a wealthy German-born banker who represents the German company in the U.S. One of Mann's first acts was to make a change in Leitz's New York operation. Into the top management slot he again put Alfred Boch, the same man who had been brought to the New York branch...
...Grind. The world's demand for Leicas proved greater than ever, despite the rise of formidable imitators abroad. Leitz stepped up employment to 5,000, production to 4,000 Leicas per month, 25% more than prewar, and its gross to $12.5 million. Leitz keeps many operations on a handwork basis simply to provide jobs. This, plus heavy taxes, has kept profits below prewar levels, but even so, Leitz made enough last year to finance a new $950,000 building at Wetzlar and the Canadian plant, which may expand Leitz's total capacity by 15%. At Midland, Leitz plans...
...Paul Ehrlich, who in 1912 got the 150,000th Leitz made, used one in his work on Salvarsan ("606"), the cure for syphilis...