AVIATION: Maneuvers

In a dull stockmarket Eastern Air Lines sparkled with starry brightness, climbed from $42 a share to $56.

Last week rival airline operators thought they knew what was in the wind. They guessed that: 1) W. R. Grace & Co., ship operators, were bidding the stock up in building up their holdings in Eastern; 2) Eastern in turn was set to buy Grace's 50% stock ownership in lusty money-making Pan American-Grace Airways.

There would be logic aplenty for such dealings. Eastern expects to operate a postwar route from the U.S. to the Canal Zone,...

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