Word: pigging
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Dates: during 1940-1949
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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...
...committee soon discovered that Republic needed the plant's hot metal (to make steel) as badly as the foundrymen needed the pig iron. That gave White and Kaiser a reason to get together. At week's end, the two old feuders parked their popguns and signed a temporary truce...
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...
...abruptly stopped haggling with Republic, turned to Henry Kaiser, who had once shown an interest in the plant. Asked Larson: Would Kaiser be willing to pay a minimum rent of $800,000 a year? Kaiser, who needs steel for his Kaiser-Frazer automobiles and knows that he can swap pig iron for it, jumped at the offer...
...White claimed that, including tonnage royalties, his offer would have netted the Government $1,275,000 compared with $1,248,000 from Kaiser. (WAA said Kaiser's rental would exceed $1,500,000.) White also wired 403 of his foundry customers that Republic was "going out of the pig iron business." By week's end, the frightened foundries were deluging WAA with protests...