Word: rubberizing
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Dates: during 1950-1959
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Last week the U.S. sent a Minister Plenipotentiary to the exhibition: William H. Ball, of the fruit-jar and rubber-products family of Muncie, Ind. In his honor, protocol demanded that The Star-Spangled Banner be played. Unable to find a score in all Rhodesia, the sponsors finally discovered a fellow who makes a hobby of collecting records of national anthems. From an old recording of his, copyists worked out an arrangement in time for a gala performance of Aïda. The colonials also raised the Stars & Stripes over the exhibition grounds. But their enthusiasm soon faded a little...
DESPITE the price dip in natural rubber, which has fallen 4? a Ib. since May to a 3½-year low, tiremakers will not cut their prices. Reason: they expect forthcoming wage hikes will more than offset the savings in raw materials...
CONGRESSIONAL approval of the bill to sell the Government's 28 synthetic-rubber plants to private industry will not bring a quick sale. It will take almost until the bill's deadline of Jan. 31, 1955 to work out a detailed sales plan, and even then, Congress could veto...
...During World War II, RFC invested and lent more than $9 billion to build 2,000 war plants, including a synthetic rubber industry, the Geneva steel plant in Utah, the Willow Run bomber plant, the Big Inch and Little Inch pipelines. It spent another $2 billion on raw materials to keep them out of Axis hands, spent $2.8 billion stockpiling strategic metals and minerals...
Liquidating RFC's $1.6 billion assets will be no easy job. RFC's rubber plants will be sold to private industry in the next year or two (TIME, April 27); its tin smelter and other properties will be transferred to other Government agencies. But with $832 million still outstanding in RFC loans that run as long as 30 years, the effects of the old Government agency will take a long time to fade away...