Summer Auction 2019 Sale 76
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This lot is closed for bidding. Bidding ended on 7/31/2019
JOHN MCCONE (1902–1991) American businessman and politician who served as Director of the CIA from 1961-65, during the height of the Cold War. Earlier, McCone had made $44 million on a $100,000 investment in the California Shipbuilding Corp. which used vast amount of steel supplied by Henry J. Kaiser's steel mills. In 1953, a Senate Armed Services Subcommittee, headed by Sen. Styles Bridges held hearings to determine whether there had been waste, extravagance, and inefficiency in the aircraft procurement program of the Air Force. An investigation of the Kaiser-Frazer aircraft production plant at Willow Run, also owned by Henry Kaiser. John A. McCone, former Secretary of Air for Procurement, was called June 2 to explain the awarding of a contract for the production of C-119 transports to the Kaiser-Frazer Corporation. Sen. Bridges said reports showed that Kaiser-Frazer was to get about $1.2 million for each plane while competitors Fairchild Aircraft Corporation received about $260,000 for the same plane. McCone said that “in December, 1950, it would not have been possible to anticipate the costs that are reported to have developed.” Offered here is a grouping of original items concerning McCone's testimony before Congress. Included is the May 25, 1953 letter from Sen. Bridges to McCone summoning him to testify: "...the Subcommittee on Aircraft Procurement...will begin hearings on the award of the C-119 airplane contract by the Air Force...on Tuesday, June 2nd...Your appearance is which time the Committee intends to interrogate you concerning the above matter...". Also present: original typed notes of McCone's telephone conversations concerning the aircraft, cost overruns, competitors, etc., 32pp. 4to., 1950-51; also 72pp. of photocopies, likely McCone's copies of evidence used in the hearings, about half being documents (some "Restricted" or "Confidential") concerning the C-119 and C-123, the Stroukoff and Fairchild aircraft companies, etc., many signed by generals, colonels, etc., the balance of the group being additional logs of McCone's calls concerning the C-119. Overall fine condition. On June 24 the Air Force canceled all its contracts with Kaiser for the production of cargo planes – the C-119 and the C-123 – produced at the Willow Run plant. The announcement said the action was taken “completely independently of the Senate hearings.” In November, the plant was sold to GM to produce auto transmissions.
Current Bidding (Reserve Has Been Met)
Minimum Bid: $50.00
Final prices include buyers premium:
Estimate: $100 - $160
Auction closed on Wednesday, July 31, 2019.
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