Word: pig-iron
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Though he had lost the plant, White was still fighting. His talk about cutting off some 400 northeastern foundries from their pig-iron supplies had whipped up terrific pressure from the foundrymen. Moreover, White knew that the plant, which Republic built, was so much a part of Republic's other operations that it could never be cut out of them without a long shutdown. Kaiser confessed that he was in for trouble unless the committee could "make a Christian out of White...
Under it, Kaiser-Frazer got the plant, but agreed to let Republic run it until next May; by then Republic was expected to have a new pig-iron source. Meanwhile, Republic will supply K-F with 5,000 tons out of its monthly 37,500-ton pig-iron production. Charlie White had driven a shrewd bargain. His rent to Kaiser-Frazer is $1.40 a ton of iron produced, while Kaiser-Frazer must pay WAA $1.50. Thus, as long as White runs the plant, Kaiser loses a dime on every ton of iron that Republic makes...
...General Motors announced that it would lay off some 200,000 workers-more than half its total force-for at least a week, because of steel and pig-iron shortages. The motor industry, Ward's Automotive Reports said, would make about 265,000 fewer cars and trucks this quarter than expected...
Still to be heard from were bellwethers Bethlehem and U.S. Steel. But they were getting that old price-raising feeling, too. Both companies raised pig-iron prices $3 a ton. Big Steel brushed off the raise as a bookkeeping device. It uses almost all its pig-iron output itself. But the raise was a plain sign of the way both companies were thinking. With the ice broken by smaller companies-and the pattern already set-both were expected to increase steel prices also, thus assuring a general rise in the industry...
...arsenal of the Empire Canada had produced 16,200 aircraft, 28,000 heavy field and naval guns, 1,500,000 machine guns and rifles, 8,000 ships, 800,000 vehicles, ammunition in the millions of rounds. To turn out these and scores of other items, Canada had doubled pig-iron production, tripled non-ferrous metal production, increased chemical manufacturing 233%. Said Howe with pride: "This unprecedented expansion . . . has resulted in manufacturing becoming the leading industry of the country . . , [and] on a production rather than an assembly basis." Turning to peacetime production, he pointed out that the Government had spent...