"There are three ways to spread a rumor," goes the old saying. "Telephone, telefax, or tell a scrap dealer." The scrap-trade rumor mill has been running overtime this year in California, where the guessing game over what will happen to the spanking new ocean terminal left idle by the demise of Long Beach scrap exporter Hiuka America has entered what may be its final round. Hiuka filed for Chapter 11 protection last December 20th; it was owned primarily by Japanese investor Kazuteru Kanagawa through the industrial-materials trader Hiuka Sangyo. The FBI almost immediately filed fraud charges; a court date for three Hiuka officers is set for May 22nd.
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