Word: panagra
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Dates: during 1940-1949
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...cagev, 90-year-old, multi-million-dollar W. R. Grace & Co., shippers, bankers and international traders. Pan Am boasts many a foe's scalp; Grace has a reputation for never losing a battle. The prize is domination of a great airline they started together, Pan American-Grace Airways (Panagra). The only important airline on the whole west coast of South America, Panagra flies over 8,000 route-miles from the Canal Zone to Santiago to Buenos Aires...
...American-Grace Airways inaugurated its fifth weekly South American airmail schedule. In one year Panagra (jointly owned by Pan American Airways and W. R. Grace & Co.) has increased its services between Panama and the Argentine 140%, now flies 88,952 miles weekly...
Result: an old-fashioned rate war. Last month Sedta established domestic airmail service, charged 80 centavos (about 25?) per five grams. A few days later, Panagra cut the price to 45 centavos. Last week came Sedta's rebuttal, devastating and unanswerable: they would carry mail free within Ecuador's borders...
...this week it was clear which way the wind sock was pointing. If Panagra is to keep her foothold in Ecuador, earn the right to buy out Sedta's operating permit, she (and Washington) must throw as much money into Ecuador's winds as Adolf Hitler...