Word: newsprint
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...when the New York Tribune challenged the New York Herald as to which had the larger circulation. The rival publishers finally selected two impartial judges to settle the controversy, and the judges went to work on their audit. Their method: a careful count of the amount of newsprint used by each paper over a four-week period. When the count was completed, circulation title went to the Herald, on the ground that it had used 1,075½ reams v. the Tribune's 720¾ reams of newsprint...
...Hiwassee River in Calhoun, Tenn. last week, the South passed an important milestone in its fast industrial growth. The milestone: dedication of a $60 million newsprint plant that will provide 750 jobs and an important outlet for one of Dixie's most abundant natural resources-southern pine. Outside the long, low buildings, some 450 visiting publishers and their wives inspected a giant man-made pond, as big as the Yale Bowl and capable of storing 30,000 cords of wood under water to guard against decay. Inside, they looked over two huge papermaking machines producing at the rate...
...newspaper industry, which now imports more than 80% of its newsprint, the new plant assures another big source of domestic supply. The new plant also represents the biggest single British investment in the U.S. since World War II and an effective variation on the concept of "trade, not aid." For the new mill is controlled by Britain's Bowater Paper Corp., Ltd., the biggest newsprint maker in the world (1,000,000 tons a year...
...Bowater was able to borrow $45 million to provide the rest of the financing. They were willing to lend the money only because of another Bowater feat. He had signed a contract with more than 100 Southern publishers, under which they agreed to buy the mill's entire newsprint output for the next 15 years. With that accomplished, it was comparatively easy for Bowater to get a "certificate of necessity" (required during the Korean war) from the Government, though U.S. papermakers vigorously opposed his scheme...
Bowater built a newsprint mill on the Thames near London, and another near Liverpool, to supply several mass-circulation London dailies. He acquired timberlands and mills in Scandinavia, and as war approached turned to Newfoundland, where he bought International Paper's big plant at Corner Brook, and 7,000,000 acres of timber. At war's end, Sir Eric started diversifying into paper bags, paperboard and other products, which now account for almost 20% of his production. The $250 million Bowater empire now employs 16,000 in some 40 companies spread through eight nations of the free world...