Word: million
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Dates: during 1940-1949
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Last week, the news leaked out that Caltex Oil Products Corp., a joint subsidiary of Standard Oil Co. of California and The Texas Co., had made a deal to help build and operate a refinery in Spain, near Cartagena, at a cost of around $18 million. Caltex would put up part of the money, and own 24%. The rest would be 24% owned by Cepsa, the state oil monopoly, and 52% by another state company, Institute Nacional de Industria...
Heavy Freight. The railroads, whose freight rates have gone up 41 to 43% since war's end, will ask ICC for another 8% boost, railroad traffic executives decided at a Chicago meeting. If granted, the increase would add another $400 million to the nation's freight bill. (The total increase so far: $2.1 to $2.5 billion...
...bumper U.S. wheat crop was being harvested, it overflowed elevators and warehouses. But much of it was not going to market, where it would have helped bring down prices. Reason: farmers were putting it under Government loan at $2 a bushel. They had already taken loans on 90 million bushels v. 20 million last year. The Department of Agriculture eventually expected to have 300 million bushels under loan...
...aircraftmaker last week set up a rental agency for airlines that need new planes but lack the cash to buy them. Floyd Odlum, whose Atlas Corp. controls Consolidated Vultee Aircraft Corp., announced that he would form a $50-million-plus company to buy 100 twin-engined, 40-passenger Convair-Liners. (It will also give Convair some badly needed business.) The planes will be rented out to airlines which may buy them later at cost less depreciation. Odlum hopes eventually to finance the planes of other aircraftmakers in the same...
...instrument landings with G.C.A., the U.S. Air Force this week gave Gilfillan Brothers a new $6,000,000 contract for 30 additional installations. (The Air Force now operates 92.) By year's end, Gilfillan expected to triple its gross (from $4,600,000 to $13 million), boost employment from...