Word: makers
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Dates: during 1940-1949
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Most U.S. industries last week had a price wolf by the ears. For the cement industry, a way to get rid of him seemed relatively plain. Bowing to a Federal Trade Commission order recently upheld by the Supreme Court (TIME, May 10), Universal Atlas Cement Co., largest cement maker in the U.S., last week grudgingly gave up its basing-point system of pricing. The company called the order "economically unsound and wrong," but it announced that it would sell henceforth at prices f.o.b. its plants; freight costs would be applied to the buyer's bill. Smaller cement companies promptly...
John L. Lewis, who used to fancy himself as a President-maker and still does as a President-breaker, could not get to Philadelphia last week. He was much too busy in Washington getting just about everything he wants...
...table already loaded with $12 million worth of recently bought companies, Lever Bros. President Charles Luckman this week tossed a $10 million newcomer: the John F. Jelke Co., sixth largest* U.S. maker of oleomargarine (Good Luck). Said "Chuck" Luckman: "That will be all for a while, until we digest what we've already...
Around Manhattan's Title Guarantee & Trust Co., William Benjamin seemed to be a favored character. As head of a war plant (Metropolitan Machine Shops, Inc., maker of machine parts and auto jacks), he borrowed $99,970 from the bank, without very close questioning. When Benjamin later confessed to frauds totaling $493,000 (and went to Sing Sing), Title Guarantee expressed shock, but it also gave off embarrassed sighs of relief. Alone among Benjamin's big creditors, Title Guarantee had been repaid in full...
Alien Property. For the second time in 30 years, the Government put up for sale a majority interest in American Bosch Corp., maker of ignition and fuel-injection devices. The German-controlled company was first taken over by the U.S. during World War I and later sold. Somehow it got back into German hands. In 1942 the Office of Alien Property Custodian seized 77% (some 535,000) of its outstanding shares as enemy property. This time the stock will be sold, at competitive bidding, to U.S. citizens only. Any shares that get into the hands of aliens will automatically become...