Word: steams
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Dates: during 1950-1959
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...private exhortation that is his specialty. To those who speak of Russian smiles, he recites precise figures of Russian forces, of Russian concentration on war industry, of stepped-up Russian production of planes, atomic weapons and guided missiles, notes: "While the Soviets were toasting Chancellor Adenauer in Moscow, the steam shovels were moving the earth for new and bigger jet runways in Eastern Germany. Their smiles suggest peaceful intentions, but we must deal in realities-these forces, these airfields, these economic goals." He adds flatly: "The Soviets' military threat to NATO has never been greater than it is today...
...exactly where it is. Then, at its leisure in darkness and silence, far below wave action, it will open its missile chamber. The missile will tilt to the vertical. When all is ready, it will rise from the sea in a flood of flame and a cloud of steam...
ECONOMY DRIVE to get the U.S. Government out of business will pick up steam this year. After stalling last year, the plan for the Pentagon to discontinue 52 business-type operations (including 19 office-equipment repair shops, nine auto-repair shops) is getting a green light from the House Appropriations Committee...
While the Grace Line was thus getting up steam, other ventures in the W. R. Grace & Co. empire were growing just as busily. The company announced last week that it would authorize $100 million in capital spending for 1956, $40 million of it for Grace's booming chemical ventures (among them: Grace Chemical Co., Dewey & Almy Chemical Co. Division), which in 1955 accounted for 45% of Grace's total income v. only 3% in 1952. Another $30 million will go to the Grace Line, the remainder principally to paper enterprises in South America, where Grace also has ventures...
...Dodge flagged the President that TVA was asking for money for a new steam plant at Fulton, Tenn. This was a fresh challenge to Eisenhower's resolve to keep government out of business if private industry could do the job as well. Dodge hired Adolphe H. Wenzell, vice president of the First Boston Corp. (investment bankers), to suggest ways of getting the plant built without tapping the budget. The now celebrated Dixon-Yates contract (TIME, Aug. 2, 1954 et seq.) was the result...