Word: merchant
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...Pick Nick." A New Jersey merchant's son who did his childhood prattling in Greek, Murray Butler wasted no time. Graduating from high school at 13, he entered Columbia three years later, soon became its biggest undergraduate "bun-yanker" (honor-grabber). At 20 he graduated as top man in his class, at 21 acquired his M.A., at 22 his Ph.D. He promptly became a Columbia teacher and founded Teachers College in his spare time...
Under "Shipping" in TIME (April 9), giving a summary of an article by Lewis W. Douglas entitled "What Shall We Do with the Ships?", we note Mr. Douglas refers to a postwar American merchant fleet of 20,000,000 tons and leaves the impression that a fleet of that size would cost the country from $200,000,000 to $300,000,000 a year in subsidies for its operation...
...Japan's only ally, Nazi Germany, was crumbling to final ruin. Her potential new enemy, Soviet Russia, stood huge and menacing on the Manchurian border. She was virtually cut off from the rubber, oil, tin and foodstuffs of the South Seas. She had lost more than 1,800 merchant ships. In the mathematics of war, if not on last week's calendar, Japan was close to defeat...
...luxe passenger liners (cost $5 million each) for the Mississippi Shipping Company Inc.'s Delta Line, to sail from Gulf ports to the East Coast of South America. ¶Son Robert, Jr. was in Brazil to drum up orders for new ships for the antique, but vital, Brazilian merchant marine. ¶ Smart and young, Ingalls' engineers were putting the finishing touches on designs for a new diesel-electric locomotive. Ingalls hopes to sell railroads 150 every postwar year...
When the Maritime Commission in 1937 set out to rejuvenate"the creaking U.S. Merchant Marine, Ingalls saw his chance to get into shipbuilding with a splash. In 1939 he formed the subsidiary Ingalls Shipbuilding Corp., and spent some $500,000 for a yard at Pascagoula. It was a good investment. He landed a $10 million contract for four C-3 type freighters. The first of the batch, the Exchequer for the American Export Lines, was the largest all-welded merchant ship ever built in the U.S. When war came Pascagoula got all the business it could handle...