METALS: Fiasco in Titanium?

One of the Government's most costly and coddled cold-war babies was its crash program to mass-produce titanium, the "wonder metal'' that is lighter than steel and tougher than aluminum. To get the metal for supersonic planes, the U.S. gave out some $215 million in federal loans, stockpile-buying contracts and research grants that helped boost production of titanium sponge from 75 tons in 1950 to 14,000 tons last year. More than 90% of the 1957 output was bought by the Government. But last week the Government and producers alike were willing to concede...