Word: zellerbach
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...Ambassador to Italy James D. Zellerbach went to the Vatican, presented Pope Pius XII with 1957's George Washington Carver Memorial Institute Gold Award for the pontiff's "outstanding contribution to the betterment of race relations and human welfare." (1956 winner: D wight D. Eisenhower.) Said His Holiness: "It is not to our humble person this award is directed, but to truth and charity, whose defense is our mission...
MERGER-BUSTING POLICY will be pushed by FTC to stop what it considers to be growing concentration in some industries. As a start, FTC ordered Crown Zellerbach, No. 2 U.S. papermaker (after International Paper), to sell St. Helens Pulp & Paper Co., which it bought in 1953. This was first time FTC invoked amendment to Clayton Antitrust Act that forbids merger which may create monopoly in just a single line of commerce. (The "line" in this case is the coarse-paper market in eleven Western states.) Crown Zellerbach will appeal to courts...
PAPER-INDUSTRY MERGERS face rough ride from U.S. trustbusters, who are weighing antimerger complaints against Crown Zellerbach Corp. and Scott Paper Co. In significant first victory, FTC got world's biggest papermaker, International Paper Co., to sign consent decree agreeing not to acquire interest in any competitor for next decade. International also promised to sell its 12% stock holdings in Longview Fiber Co., a top West Coast papermaker...
...paper and packaging industry, which had been booming along, showed the toll of lessened demand. Both sales and earnings drops were reported by St. Regis Paper Co. and Union Bag-Camp Paper Corp.; profits were also down for Crown Zellerbach Corp. (66? a share v. 1956's 86?), Scott Paper Co. (66? v. 72?) and Allied Paper Corp. (90? v. $2.30). High costs of labor and materials hurt Crane Co., Borg-Warner Corp., Carborundum Co., and Owens-Corning Fiberglas Corp...
THREE-WAY MERGER will put Weyerhaeuser Timber Co., biggest U.S. lumber producer (but second to diversified Crown-Zellerbach in overall business) into the finished-container field for first time. In face of sagging U.S. lumber sales, Weyerhaeuser will absorb Chicago's Eddy Paper Corp. and New Jersey's Kieckhefer Container Co. in $200 million stock swap, emerge as fully integrated lumber-pulp-container producer, with annual earnings of about $65 million...