Word: scrap
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...down quota barriers against U.S. goods, responding to Under Secretary of State Douglas Dillon's warning (TIME, Nov. 9) that they would face a "resurgence of protectionism and restrictive action" if they did not. Britain, France and Japan agreed that the time has come for thriving nations to scrap discriminatory trade restrictions against the U.S. born of postwar dollar shortages. In many cases the changes were more psychological than real, for tariffs or market conditions will continue to exclude what quotas do not. Still, the U.S. was only hoping to boost exports 10%. As for Washington's appeal...
...roads so efficiently that they were soon earning $300 million a year. He helped put together such later industrial giants as General Electric, merged several companies to form U.S. Steel, with the steel works of Andrew Carnegie as its nucleus. When Carnegie scrawled the price he wanted on a scrap of paper ($447 million), Morgan characteristically glanced at it briefly, snapped: "I accept." At one time Morgan controlled six banks and trust companies, three life insurance companies, ten railroads and a cluster of huge corporations. He and his associates held 341 directorships in 112 com panies with total resources...
...millions of people's peace-hungry minds, Mr. Khrushchev's offer to scrap all armies will look very tempting and reasonable indeed. But I can mention a number of fairly prominent countries where the abolition of the armed forces would mean an immediate and effortless take-over for the extremely well-organized Communistic minority. In such places as Argentina, Indonesia, Iraq, etc., the armies are just holding their own against the subversive forces of Communism, and should the hypothetical case of complete disarmament become a reality, Western countries such as France, Italy and Finland could fall without...
Heavy Industry. In Montreal, Canadian National Railways filed suit for $30,265 against two men for taking up two miles of railroad track and selling it for scrap...
...nightfall. From that point on, no one was allowed on board the African Queen without their permission-and Lloyd Deir, 45, and Belden Little, 36, enforced the rule with their shotguns. Their purpose: to float the African Queen, claim her under maritime salvage laws and sell her as scrap for, they hoped, more than...