Word: viscounts
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Died. John Anderson, 75, 1st Viscount Waverley of Westdean, stiff-necked first Home Secretary in Winston Churchill's wartime Cabinet, after whom Britons named their tiny, corrugated-iron, backyard air-raid shelters ("Anderson Shelters"), later (1943-45) Chancellor of the Exchequer, who represented Britain at the 1944 Bretton Woods monetary conference; of bronchial pneumonia; in London...
...ride out the storm last week. Capital President David H. Baker and Chairman J. H. ("Slim") Carmichael flew to London, hoping to stretch out payments on their Viscount fleet. In addition. Capital is economizing everywhere, may trim its 8,000-man payroll by 10%. Yet its main hope rests with CAB. Barring subsidy, it wants a healthy fare increase. Without it, Capital may eventually be forced to shut down or merge, possibly with Northwest Airlines...
...Strain. Hoping to steal a march on the rest of the U.S. airline industry, Capital flew bravely into the jet-age dawn by buying 60 British Viscount turboprops three years ago, agreed to pay $67.5 million within five years of delivery plus interest to London bankers who financed the deal. As of 1956, Capital managed to pay $12.4 million of the debt, and badly strained itself in the process. Though revenues soared from $48 million in 1954 to $63.7 million last year, costs went up so fast that net income tumbled from $1.7 million in 1954 to a net deficit...
Capital likes the Viscount as an aircraft, and its estimates of operating costs proved out almost to the penny. The trouble is its size. The Viscount's 44-seat capacity puts it at a disadvantage against 60-to 90-passenger Douglas DC-7s and Lockheed Super Constellations on highly traveled routes. Moreover, when Capital switched to Viscounts, it was unable to sell its aging fleet of DC-4s and early-model Constellations. Capital still flies the old planes, estimates that its inability to sell them cost about $1,000,000 last year, just about the extent of its deficit...
Over the babble in NATO's halls last week, the dry voice of experience was heard. Sprightly old (just 70) Field Marshal Viscount Montgomery announced that next September he will quit as NATO's Deputy Supreme Allied Commander. "I am pulling out because I am satisfied that the danger of direct attack on NATO countries is now very remote. What might be called the European test match can be postponed indefinitely [although] there may be village cricket elsewhere in the world," Monty explained. "The 1949 conception of NATO is now too narrow. Its members have got to look...