Word: symington
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
...weightiest brickbat had been the charge that Alcoa had blocked the disposal of surplus Government aluminum plants. Alcoa had refused, said SPAdministrator W. Stuart Symington, to license its patents on its process of converting low-grade bauxite into alumina (which is in turn smelted down to aluminum). This had blocked SPA's deal to lease the Hurricane Creek plant (which operates on low-grade bauxite) and Jones Mills aluminum plant to the Reynolds Metals Co. (TIME, Dec. 31). Alcoa's frail, grey-haired vice president, I. W. Wilson, had indignantly denied the charges. He did not stop there...
...Washington he sat down with Symington and held a joint press conference. Alcoa, they announced, had decided to give the use of its patents covering extraction of alumina from bauxite to the Federal Government. It can license operators of Government-owned plants to compete with Alcoa. In an atmosphere perfumed with sweet reasonableness, Wilson told why Alcoa had done it. Said he: "Mr. Symington is a very fine salesman...
Graciously, Symington added: "If we're throwing posies, I would say Mr. Wilson has done a very fine thing. ... I take back as many of [my earlier statements] as Mr. Wilson thinks I should. If he thinks all, I take them all back...
Last week Surplus Property Administrator W. Stuart Symington turned thumbs down on the oilmen's proposition. In a report to Congress, he stated that the $145,800,000 worth of pipelines would be converted to gas only as a last resort. (Coal producers and the railroads have strenuously opposed such a move.) First the lines would be offered for sale or lease to private companies. If there were no takers-the Government would try to operate them...
...three months, SPBoss W. Stuart Symington has barked threats of government-subsidized competition at the Aluminum Co. of America. Last week, his bite proved milder than his bark. He approved a five-year lease to Reynolds Metals Co., Alcoa's only competitor, of the government-owned Hurricane Creek and Jones Mill plants in Arkansas. But there were no provisions for any subsidy in the lease, the first negotiated by RFC for any government-owned aluminum plants...