MAGNESIUM: Dow Up, Jones Down

When World War II caught the U.S. desperately short of magnesium, a No. 1 component of incendiaries and planes, the Federal Government spilled out $515,000,000 to expand the infant industry. Last week, the Senate's wallet-watching Truman Committee ended a two-year probe of: 1) whether the U.S. got its money's worth; 2) what will happen to the new industry at war's end. Its report:

¶ Praised Michigan's Dow Chemical Co. which, with its licensees, turned out 61% of all U.S. magnesium last year.

¶ Roundly condemned the contract made by Jesse Jones's Defense Plants Corp. with Basic Magnesium, Inc. to build the country's...

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