Business: Under Way

With a wave of a symbolic radioactive wand. Pat Nixon last week sponsored the keel-laying of the world's first atomic merchantman—and gave the U.S. another leg up in the race to develop peaceful uses for nuclear power. To be built by New York Shipbuilding Corp. at Camden, N.J., N.S. Savannah will cost $40 million by the time it is completed in 1960. will serve as the model for private shippers who are increasingly anxious to get into the field. Cities Service. Gulf Oil and Standard Oil (N.J.) are all interested, and the Maritime Administration hopes to have the first nuclear-powered tanker...

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