Word: timberlands
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HENRY J. KAISER is returning to Pacific Northwest scene of his big World War II shipbuilding operation. For about $8,000,000, Kaiser Gypsum Co. has bought Fir-Tex Insulating Board, Inc., of Portland, Ore., plus 15,000 acres of timberland in Oregon, Washington...
...Million in Chips. The forest industries have been forced to branch into new products as per-capita lumber consumption has dropped (down to 256 bd. ft. in 1955 from 504 in 1904) and timberland prices soared (up as much as 1,700% in 18 years). Many companies have also diversified to make full use of their tim ber reserves, e.g., western alder, long bypassed when redwood and Douglas fir forests were logged solely for lumber, is now widely cut for wood pulp...
...youth center, a $106,000 recreation hall with bowling alleys, library, target range and gymnasium, a $128,000 skating rink and a TV booster to bring in programs from distant stations. Crown Zellerbach Corp., which runs three lumber company towns in Washington and Oregon, concentrates on youth activities, allots timberland tracts to Boy Scout troops, awards college scholarships to company town children...
...Drew Pearson's week. First, Columnist Pearson apologized for his recent charge (branded a "scurrilous lie" by Presidential Press Secretary James C. Hagerty) that President Eisenhower had taken a hand in the "giveaway" of Oregon timberland to Al Sarena Mines, Inc. (TIME, Feb. 6). Next, after five expensive years of legal maneuvers, Pearson quietly dropped his $5,100,000 damage and libel suits against Senator Joe McCarthy, Columnists Westbrook Pegler, Fulton Lewis Jr., and six others (TIME, March 12, 1951). At week's end, having thus turned both cheeks, Pearson was slapped with a $250,000 libel suit...
...with Houston of the East Texas Pulp and Paper Co. TIME is negotiating to buy 100% of the East Texas Co., which operates a $33 million pulp-and-paper mill (sulphate pulp and paperboard), and Houston's Southwestern Settlement and Development Corp., which owns 585,000 acres of timberland to supply the mill...