MAGNESIUM: Dow Up, Jones Down

When World War II caught the U.S. desperately short of magnesium, a No. 1 component of incendiaries and planes, the Federal Government spilled out $515,000,000 to expand the infant industry. Last week, the Senate's wallet-watching Truman Committee ended a two-year probe of: 1) whether the U.S. got its money's worth; 2) what will happen to the new industry at war's end. Its report:

¶ Praised Michigan's Dow Chemical Co. which, with its licensees, turned out 61% of all U.S. magnesium last year.

¶ Roundly condemned the contract made by Jesse Jones's Defense Plants Corp. with Basic Magnesium, Inc. to build the country's...

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!