Monday, Jun. 14, 1948
Facts & Figures
Hard Coal. Producers of more than 50% of the nation's hard coal raised prices from 20-c- to 30-c- a ton. The mine operators said the increases would meet an expected demand for higher wages by John L. Lewis (see NATIONAL AFFAIRS). Dealers said they would have to pass the increases along to consumers.
Parcel Post. A bill to set up an air parcel post system was passed by the Senate. It provides for parcels up to 70 pounds to be airmailed anywhere within the U.S., at 55-c- to 80-c- a pound, depending on the distance. The House is expected to pass the bill before adjournment, thus giving scheduled airlines a much needed boost in business.
Alien Property. For the second time in 30 years, the Government put up for sale a majority interest in American Bosch Corp., maker of ignition and fuel-injection devices. The German-controlled company was first taken over by the U.S. during World War I and later sold. Somehow it got back into German hands. In 1942 the Office of Alien Property Custodian seized 77% (some 535,000) of its outstanding shares as enemy property. This time the stock will be sold, at competitive bidding, to U.S. citizens only. Any shares that get into the hands of aliens will automatically become invalid.
Plane Prex. La Motte T. Cohu, who resigned as T.W.A. president last month, was named to succeed ailing Harry Woodhead as president of Consolidated Vultee Aircraft Corp. Cohu was chairman and general manager of Northrop Aircraft, Inc. for eight years before his term with money-losing T.W.A. Bogged down by production tangles, Convair lost $5,130,338 in the five months ending April 30.
Color Film. Hollywood finally got a full-length look at General Aniline & Film Corp.'s three-color process (Ansco Color) in the independent movie, Sixteen Fathoms Deep. As the color is incorporated in the negative, making it possible to record it with an ordinary black & white camera, General Aniline hopes that Ansco will eventually compete with Technicolor. In some Sixteen Fathoms scenes Ansco Color, like the new Rouxcolor of Paris' Roux brothers (TIME, June 7), seemed far more natural than the more expensive Technicolor. But in other scenes Ansco Color was washed out, and faces were often only pale blobs. Ansco blamed most of the faults on the low ($175,000) producing budget, hopes to do better next time, in an $800,000 United Artists production.
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