The amphibious character of Pan American Airways Corp. was well shown in its annual report last week. As a corporation, Pan Am earned $3,361,252, a new high; reported a net U.S. Government subsidy of $429,000, a new low. But the report also read like a military communique, for Pan Am is an instrument of U.S. policy and a weapon of global war. Though 38 Pan Am men are Jap prisoners, the news was mostly very good.
Pan Am last year hacked out new U.S. airfields in the jungles of three continents. It created a 7,000-mile overseas airline to Africa, and...
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