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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Aug 26, 1948
Page
6
Congressional testimony outlines a bluff by Republic to close the Cleveland gray iron works as talks with Kaiser-Frazer faltered. Larsen claims Republic sought exit from pig iron business and notes Kaiser-Frazer could supply Republic’s clients after a takeover.
Washington witnesses report Republic Steel president Charles M White blasting a Kaiser Frazer lease as a bad deal worth 28 million dollars. White testified before Congress while War Assets Administration director Jess Larson explained efforts to keep the Cleveland furnace operating under a tentative 20 year lease with Kaiser Frazer. The lease awaits final government approval and White clashed with Kaiser during their testimony.
In August Kaiser Frazer proposed taking over the Frederick blast furnace, triggering protests from Republic and concerns that pig iron shortages would threaten local users. The dispute centers on terms offered and potential plant closure if supplies run dry. The case was reviewed during a Washington hearing. In related action, the Securities and Exchange Commission authorized Potomac Edison and affiliates to acquire more shares in South Penn Power and Potomac Light and Power, expanding holdings in Martinsburg WV.
The 1673 Boston Harbor lighthouse used bundles of pitch and oakum for fuel and construction. It marks an early colonial beacon at the entrance to Boston Harbor.
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