Republic Aviation Corp. last week announced that its July and August sales (i.e., plane deliveries) totaled about $2,500,000, biggest two months ever. To the Army Air Forces and Republic stockholders alike this was good news. It meant that the most spectacular U.S. pursuit-plane maker had ended a decade of corporate sideslips, spins and stalls.

Founder Alexander P. de Seversky, Russian-born flyer-designer, was tossed out by his stockholders in 1940. Cautious, businesslike W. Wallace Kellett, autogyro developer, replaced him, while war orders boomed sales tenfold. But early this year Kellett ran into a...

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