Word: lustron
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Dates: during 1940-1949
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...equipment in the plant. In return, Tucker promised to pay $1,000,000 by Oct. 1, 1946, for two years' rent, and $2,400,000 a year thereafter. Then Tucker fought off Wilson Wyatt's attempt to take the plant away from Tucker and use it for Lustron Corp.'s prefabricated housebuilding (TIME...
...placed a bet of $12.5 million last week on a new kind of house to help lick the shortage-a prefabricated one of enameled steel. The cash, in the form of a loan, went to Chicago's Lustron Corp., which had asked RFC for a maximum, of $52 million last fall to finance building of veterans' houses (TIME, Nov. 11, et seq.). Then, RFC had turned Lustron down flat on the grounds that Lustron was putting up too little of its own capital ($36,000), stood to make a 14,000% profit. Lustron also tried and failed...
...Lustron made a deal with WAA to use part of the Curtiss-Wright plant at Columbus, Ohio. Then it went back to RFC and offered to invest $3.5 million of its own cash, along with another $6 million from private sources. RFC agreed to lend the $12.5 million...
...Lustron promised to produce 100 houses a day by September, sell them, erected, for approximately $7,100 apiece. Lustron's No. 1 model, the "Esquire," contains two bedrooms, living room, dinette, kitchenette and bath...
...Come out flatly against overspending for veterans' emergency housing. (Allen's refusal to lend $32 million to the fledgling Lustron Corp. to build metal prefabricated houses precipitated the Administration battle that ended with the ousting of Housing Director Wilson Wyatt...