CORPORATIONS: The Paper Prince

On the Hiwassee River in Calhoun, Tenn. last week, the South passed an important milestone in its fast industrial growth. The milestone: dedication of a $60 million newsprint plant that will provide 750 jobs and an important outlet for one of Dixie's most abundant natural resources—southern pine. Outside the long, low buildings, some 450 visiting publishers and their wives inspected a giant man-made pond, as big as the Yale Bowl and capable of storing 30,000 cords of wood under water to guard against decay. Inside, they looked over two huge papermaking machines producing...

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