GOVERNMENT: End of a Monopoly

The U.S., which got into the synthetic-rubber business during World War II because of the natural-rubber shortages, started to get out last week. Of the 27 Government-owned synthetic rubber plants (cost: $500 million; book value: $160 million), the six biggest, heart of the Government's monopoly, were sold; contracts were ready for signing for 20 other plants. (Only one small copolymer plant, at Institute, W. Va., was not bid on.) The first buyers:

¶ Goodrich-Gulf Chemicals, Inc. and Texas-U. S. Chemical Co., which jointly bought the big (197,000 tons yearly) plant at Port Neches, Texas. Each company also bought...

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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