Word: pulping
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MERGER-BUSTING POLICY will be pushed by FTC to stop what it considers to be growing concentration in some industries. As a start, FTC ordered Crown Zellerbach, No. 2 U.S. papermaker (after International Paper), to sell St. Helens Pulp & Paper Co., which it bought in 1953. This was first time FTC invoked amendment to Clayton Antitrust Act that forbids merger which may create monopoly in just a single line of commerce. (The "line" in this case is the coarse-paper market in eleven Western states.) Crown Zellerbach will appeal to courts...
Julian Seymour Schwinger, 39, son of a Manhattan dress manufacturer, became a full professor of physics at Harvard when he was 29, is now rated, with Richard Phillips Feynman (see above), as among the top theoreticians in the U.S. Science-fiction pulp magazines infected him with the science bug. "I soon discovered," he explains, "that it was scientific fact that I was interested in, and not fiction." He won a fellowship at Columbia, took his Ph.D. there at 21. In 1951 he won the Albert Einstein Award for achievement in the natural sciences for his work on the interaction...
...Marcel Palmaro, head of Lehman Bros.' foreign department, were soon being buttonholed by Burmese industrialists, Taiwan manufacturers, Brazilian bankers. Projects from underdeveloped countries eager for foreign capital were produced by the hatful. India is ready to open its great bamboo forest in the Mysore province for paper and pulp production if it can get $8,500,000 in foreign exchange in return for half ownership. India's Orissa province needs $1,500,000 in foreign capital to build a $3,700,000 brick and ceramic factory, which after two years should yield a tax-free dividend...
Profits in Bottles. Some projects were agreed on in short order. One notable example: a syndicate to finance a $9,000,000 pulp-and-paper mill in Pernambuco, Brazil, set up by Norbert A. McKenna, partner in Wall Street's Reynolds & Co., and Roberto de Oliveira Campos, representing Brazil's National Economic Development Bank. And for some doubters, some of the best evidence of the opportunities for foreign investments comes from U.S. and Canadian businessmen who were stationed or have traveled abroad. Among the most persuasive...
...bark broadside to the wind. In the nightmare of ripping canvas and splintering timber, much of the vessel's cumbersome top hamper came crashing down, covering the deck with a lethal spiderweb of flailing steel cables. Heavy wooden yardarms slashed right and left, battering lifeboats and rafts into pulp, and punching holes in the deck itself...