Word: lipsetts
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Dates: during 1946-1946
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...buyer: Lipsett, Inc., a Jamestown, N.Y. steel scrap firm. Lipsett intends to cut the Normandie down to the waterline, then raise the hull and break it up. Total cost of the operation: between...
...Lipsett expects the Normandie to yield about 40,000 tons of steel scrap (worth some $15 a ton), which will just about cover scrapping costs. Any profit will depend upon how much brass, copper, lead, etc. (worth up to $240 a ton) he can salvage. Said company President Morris Lipsett: "It's just like a crap game