Word: rayon
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...father Dayton, Burke and brother James-had adopted Cuban citizenship, thus saving mightily in taxes on their multimillion-dollar Cuban holdings. When Batista seized power in 1952, he appointed Hedges a member of his advisory council. Last year a Batista government bank bought a money-losing Hedges enterprise-a rayon-chemical complex in Matanzas province-and leased it back with the proviso that Hedges need pay no taxes for 30 years...
...main reason for this poor showing does not lie in the guaranty program itself. Any U.S. investor in a country included in the program-from Venetian-blind makers in The Netherlands to rayon manufacturers on Formosa-can apply for insurance covering the full value of the investment. Policies bear a relatively modest annual premium of one-half of 1%. In the event of a claim, the U.S. Government takes upon itself to save or recover the investment, gives full restitution to the U.S. firm before undertaking legal and diplomatic action to collect. Premiums paid by protected firms go into...
...CHEVIES may have nylon tires as standard equipment. In secret test, G.M. has put nylon tires on 40,000 new Chevies this year, later will check owners to see how they perform. If they outwear the present rayon tires, Chevy plans switch to nylon, which would be heavy blow to rayon makers, who sell 36% of total output to tire industry...
...heartily despised by the "Blue" faction (named for the hue of its blood), led by a scientist, mathematician and relative youngster, the Duchesse de la Rochefoucauld, 62. An oldtime suffragette and notorious pincher of sous (says a fellow juror: "She dresses in a splendid mink coat lined with rayon"), the Duchesse blazed in protest when her arch-antagonist grandly announced that she would accept no other Femina choice for 1957 than Le Carre four des Solitudes (The Crossroads of Loneliness), by Christian Mégret...
From Taiwan came Feng-Jang Leu, managing director of the China Artificial Fiber Corp. in Tapei, which manufactures five tons of rayon filament a day, netted some 20% on its $2,000,000 gross last year. He wants a backer with $1,000,000 to build a mill that will 'produce 15 tons a day of fiber, his raw material, thus fill his own needs and those of other Taiwan firms...