Word: va
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Dates: during 1950-1959
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FOLLANSBEE STEEL mill will finally be moved to Gadsden, Ala., after a battle with the townspeople of Follansbee, W. Va. and a last-minute bid by Cleveland Financier Cyrus Eaton (TIME, Sept. 27 et seq.). By a vote of 360,442 to 25,212, Follansbee stockholders have agreed to sell their money-losing company with its $5,000,000 in liabilities for $9.3 million to Manhattan's Frederick Richmond. He, in turn, will sell the mill and inventories to Republic Steel Corp. for the move south, expects to make a fine profit...
...Accepted: Newport News (Va.) Daily Press, Inc., Houston's Maytag Aircraft Corp. Rejected: Jonesboro (Ark.) Grain Drying Cooperative, the Greenwich (Conn.) Gas Co., two Memphis supermarkets, a Houston real- estate firm, a Hannibal (Mo.) trucking company, Detroit's Wilson-Oldsmobile, an auto dealer...
...bear in a beehive. Richmond offered about $9,300,000 for the company, and planned to sell its equipment to Republic Steel. But when it turned out that Republic would move the mill down South, and thus take the No. 1 employer from the town of Follansbee, W. Va., the entire community swarmed down on Richmond's neck (TIME, Sept. 27). Then a group of stockholders got an injunction postponing the vote on the deal. Last week, while the stockholders' meeting was recessed, another bee, of bumble proportions, buzzed in. The new arrival: Cleveland Financier Cyrus Eaton, whose...
Wind & Flame. The following day Hazel made her crashing entrance into the U.S., ripping at fishing piers and crumpling bungalows along the Carolina coast. Eighty big Navy vessels fled to sea from Norfolk, Va., while military planes scrambled for safe airports as far away as Kansas. In Washington the General Services Administration, prudent and economical, ordered flags hauled down from most federal buildings; one left up on the Capitol was whipped to shreds. Chicken houses in rural Maryland collapsed by the hundreds, and incubator stoves set the wreckage on fire. The windy night was rosy with flame, and terrified, liberated...
Rain & Flood. The Monongahela, Allegheny and Ohio Rivers went over their banks as the storm made an evening passage, northbound, through central Pennsylvania. In and near Wheeling, W. Va., a city of 58,000 built partly on an island in the Ohio, 2,400 families had to leave their homes while others moved furniture to upper floors and waited it out. Inevitably, in upstate New York, the hurricane blew down a theater marquee with signs reading, GONE WITH THE WIND. Felling trees, collapsing roofs and downing wires, the winds brought death to 82 persons and wrecked more than half...