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Harvard's varsity sailing team defends its Greater Boston Championship in a race in the Charles River Basin today...
...seven schools competing in today's regatta are Harvard, M.I.T., Babson Boston University, Boston College, Tufts, and Northeastern. Three separate divisions will be run, with one boat from each college in each division. Captain Stookey, Prince, and Bello will skipper the Crimson entries. The triangle course in the basin is about one and a quarter miles long, and, weather permitting, can be covered in 25 minutes...
...team will appear in two more regattas. At 9:30 a.m. Harvard will protect its hold on the Wood Trophy which it won last year, against crews from M.I.T., Dartmouth, Brown, and the Coast Guard. This major inter-collegiate sailing event will also be held in the Charles River Basin. Only one division will be run, with two entries from each school...
Varsity sailing in Gr. Boston Championships at 11 a.m., Charles River Basin...
...President Lawrence S. Reed, 58, who spent almost ten years buying and selling oil leases before they took over Texas Gulf in 1941. The Reed brothers have also been adept at oil prospecting. Their greatest strike was the 150 million bbl. Headlee Field in West Texas' Permian Basin. But that was in 1952, and the costs of finding another one like it today are staggering. The best prospects remaining are Louisiana deep holes that cost $700,000 each to bring in, or offshore wells that can cost up to $10 million each-prices only the majors can afford...