Business & Finance: Crepe Hung in Louisiana

At 11:30 one morning last week one of the telephones on Andrew Jackson Higgins' desk jangled. It was a Maritime Commission regional director, and what he said took the wind out of gusty A. J.'s lungs: his contract for 200 Liberty ships was canceled, on orders from Washington. Reason: the steel it would take to complete his yard and to build his ships next year is needed for this year's ships and cannon. A. J.'s New Orleans yard, a long-term job still in the pile-driving stage, was too big for the world's biggest steel capacity.

A. J. was sick. Cried he, in...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!