Word: coking
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Empty Bank Vaults. The consequences to Western defense are immense and progressive ; they would be disastrous but for a relatively mild winter. But British families do without meat because there is not enough coal to swap for Argentine beef; French steel mills stand idle for lack of coal and coke. The Dutch army all but disappeared over the holidays, when the government gave its soldiers an eleven-day furlough to save precious coal. Sweden sells its high-grade iron ore to Communist Poland instead of supplying its old customer Britain, because the Poles can trade coal in exchange, the British...
...Germany (up 12%), France (up 13%), the French-directed Saar (up 40%), Belgium (up 25%), Italy (up 29%), The Netherlands (up 12%), and Austria (up 10%). Only Britain, Europe's largest single steel producer, is below her 1950 output (by 4%), partially because of shortages of scrap and coke...
...York. Says he: "We will be able to start and stop engines along the line, open and close valves, read meters, control pressures and in fact do just about anything human beings [on the spot] can do." In operating its new pipeline from Texas to Illinois, Peoples Gas Light & Coke Co. (TIME, Dec. 17) gets automatic reports via microwave on gas flow, pressure, and other conditions...
...getting money from private sources. He has recently arranged for: i) a $17,-500,000 preferred-stock issue to finance the rest of his new aluminum plant, and 2) $65 million in new private financing to add a third blast furnace, a ninth open-hearth furnace and 90 new coke ovens to his Fontana steel works in California...
...pipeline, which cost a thumping $135 million, was laid by a subsidiary of Peoples Gas Light and Coke Co., Chicago's only gas supplier and one of the biggest in the U.S. It marked the latest step in a huge expansion program, which in four years has added 70,000 new customers for Peoples, boosted its sales by 49% to $66.6 million last year. Chairman James F. Gates, 52, the man responsible for this growth, hopes that the new pipeline will ease Chicago's gas shortage, but he isn't sure it will. There are still...