Word: co
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Dates: during 1950-1959
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...nation's biggest privately controlled enterprise, the Great Atlantic & Pacific Tea Co., last week voted to give stockholders outside the Hartford family a vote in how its 4,222 supermarkets will be managed...
Crazy about Oil. Turner, long indulgently regarded by friends as daft about oil, got his first encouragement in 1957. He persuaded Starr Gas Co. of Midland, Texas to come in and drill by procuring leases for it on 3,000 acres. The first well struck oil, but it was mixed with so much salt water that Starr Co. despaired of getting the oil out of the petroleum-bearing strata. Disgusted, Starr sold the well, equipment and 80 acres of surrounding lease to Turner for $2,500. Undiscouraged, Turner decided to try his own method. He thought an extremely powerful pump...
...Pipeline. Turner himself is making out all right. With two brothers, a sister, a neighbor and the neighbor's sister, he organized the M.G. Turner Co., which, besides nearly a third of the producing wells, owns or has an interest in 20,000 acres of choice leaseholds. Neighbors estimate that the partnership is taking in $1,200,000 a year. The first well the Texans abandoned has already produced 7,000 bbL. worth $18,200. Says Turner with a smile, "We're just getting started...
...down the oilfield goes. Wildcatters were putting down wells over an area of hundreds of square miles north and south of the strike, seeking to establish the field's boundaries. In one solid gesture of confidence in the future, the Ashland Oil & Refining Co., purchaser of the bulk of the field's output, already has invested $200,000 in gathering lines, last week took bids on a $2,000,000 pipeline to pump oil directly to its refinery in Louisville, 70 miles away...
...court, thus allowing gas companies to return to their longtime practice of raising rates while waiting for the Federal Power Commission to approve them-subject to refund if the request is turned down. The Memphis case, which was won by the city of Memphis against the United Gas Pipeline Co., was opposed by the FPC as well as the gas industry. It required companies to get customer approval to collect higher rates while the FPC was investigating...