Word: panagra
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Dates: during 1950-1959
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Died. Joseph Peter Grace, 78, onetime president (1906-29) and board chairman (1929-46) of W. R. Grace & Co. (banking, mines, textiles, Grace Line, Panagra), founded in Peru in 1854 by his father; in Manhasset...
Braniff pressed farther south. Starting with a flight to Lima in 1948, he has opened new routes to five South American countries (e.g., Brazil, Ecuador), and he is giving Pan Am and Panagra a race for their passengers. He set up a Braniff Business Bureau to bring Latin American goods north and export U.S. goods south, offered cut-rate tourist fares. He even drummed up business among Latin America-bound Chinese travelers in the Orient by distributing handbills that were printed in Chinese. On his gross of $18,438,140 last year, Braniff rang up a net profit...
...Panagra, the only other U.S. airline operating to Argentina, is 50% owned...
...Allow Pan American Airways and Panagra to transfer a backlog of profits earned before October's devaluation of the peso into dollars at pre-devaluation rates...