RUSSIA: Big Red Buyers

  • Share
  • Read Later

(3 of 3)

years $110,000,000 of U. S. cash has been spent for Russian goods. Colossal outstanding contracts between the Soviet Union and U. S. firms are:

$50,000,000 to the Austin Co. of Cleveland for constructing in the next 15 months an entire Soviet city of 25,000 tentatively named "Austingrad" (TIME, Sept. 16).

$30,000,000 to the Ford Motor Co. for automobile parts which will be assembled in Russia during the next four years until local plants contracted for get into production.

$25,000,000 to the Longacre Engineering and Construction Co. Inc. of Manhattan, for apartment houses to be built in Moscow.

$15,000,000 to the C. F. Seabrook Co. of Manhattan to perform part of the work of constructing a huge new network of Soviet highways.

$10,000,000 to the Nitrogen Engineering Corp. of Manhattan for a giant ammonia fertilizer plant.

In addition the Soviet Government is expending $100,000,000 on dams and hydroelectric development of the Dnieper River, with Hugh L. Cooper & Co. of Manhattan acting as consulting engineers, the generators to be furnished by International General Electric Co. Also, $115,000,000 has just been appropriated for the development of coal mining in the Soviet Union and three leading U. S. mining and engineering firms have recently contracted to act as consultants: 1) Allen & Garcia Co. of Chicago; 2) Stuart, James & Cooke, Inc., of Manhattan; 3) Roberts & Schaefer Co. of Chicago.

Said Chairman Bron proudly last week: "The objective is to realize an ambitious program which calls for an increase in our coal production of from 35,000,000 tons last year to 75,000,000 in 1933 at the end of the Five Year Program."

  1. 1
  2. 2
  3. 3
  4. Next Page