Word: write-off
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Last week the Pentagon and private industry stepped up their titanium program in hopes of performing a new wonder with the "wonder metal." They hope to transform the swaddling titanium industry into a full-grown giant. The Defense Materials Procurement Agency granted a fast tax write-off certificate, and NPA granted a $14.7 million loan to Du Pont to expand its present titanium facilities in Newport and Edge Moor, Del. (If advances in titanium production make the plant obsolete in the next few years, the Government will buy it back...
...private industry to step up its titanium efforts. Du Pont, which had begun smelting the metal with Kroll's process, increased production from 50 to some 2,000 Ibs. of raw metal a day. The first big boost came last August when the Government approved a fast tax write-off on a $14 million investment of Titanium Metals Corp., jointly owned by Allegheny Ludlum Steel Corp. and National Lead (TIME, Aug. 20). The money was used to convert facilities at the Government's $140 million wartime magnesium plant in Henderson, Nev. into a titanium smelter which now produces...
...National Production Authority last week gave a hearty boost to the synthetic fiber industry. It offered fast tax write-off certificates for enough new plants to raise the combined production of nylon and Acrilan from 100 to 300 million lbs. a year...
...loan was not advisable if the aluminum could be obtained in any other way . . . The criminal investigation ... of Harvey resulted in a decision not to prosecute." The Government is not putting any money into the new plant. All the Government is doing, said he, is authorizing a fast tax write-off, and supplying power. Anaconda and Harvey are putting up the money...
...American Cyanamid Co. got a fast tax write-off from the DPA for a new $47 million nitrogen-compounds plant to be built near Avondale, La., a few miles outside of New Orleans...