Time Clock, Oct. 15, 1956

FAST TAX WRITE-OFFS for steel industry have been turned down by ODMobilizer Arthur S. Flemming, at least temporarily. Industry wants special tax write-offs on $1.5 billion steel expansion, but Flemming says no final decision will be made until Defense Department reviews its requirements, probably around end of year. However, Treasury Secretary George M. Humphrey, Commerce Secretary Sinclair Weeks and Flemming himself are all anxious to end tax write-offs.

JAMES NANCE, who recently stepped down as President of Studebaker-Packard, will take a job as Ford Motor Co.'s vice president for marketing. Nance will have...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

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