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Colonel Ernest O. Thompson, chairman of the commission which prorates Texas oil production, last week went to Hyde Park to tell Franklin Roosevelt how confused the industry is: though crude oil production is adequately controlled by the Interstate Oil Compact, lack of control over refining has upset crude prices (TIME, Oct. 24). Saying he was against Government control, Mr. Roosevelt suggested extending the compact to refiners, offered to ask Congress to approve such an extension. As Colonel Thompson took this thought back to the mid-continent oil fields, the industry bitterly noted that the previous day the Anti-Monopoly Committee...

Author: /time Magazine | Title: THE GOVERNMENT: Roosevelt on Oil | 10/31/1938 | See Source »

Stabilization of oil was first attempted under NRA. When that went under, the job of issuing production quotas was assumed by prorate boards in Texas, Oklahoma, Kansas, Colorado, Illinois, New Mexico, cooperating through an Interstate Oil Compact Commission specially authorized by Congress. This six-State body has no regulatory or price-fixing powers, can act only as a clearinghouse between the various State regulatory boards. That it has been successful is attested both by the present small crude oil inventories and by the Commission's voting three weeks ago to ask Congress to extend it another two years...

Author: /time Magazine | Title: OIL: Crude Cuts | 10/24/1938 | See Source »

Mexico's Roosevelt- The proud racial characteristics of a Tarascan Indian are a peanut-shaped head, thick lips and a compact physique of great physical endurance. All these belong to Lázaro Cárdenas who is of Tarascan descent. He loves to visit the remote villages and scattered hovels of his own people, the "Indians" whom he is busy raising to the status of ''Mexicans,"likes to say: "We want fewer Indians and more Mexicans!" For them he has a Six-Year Plan or "Mexican New Deal...

Author: /time Magazine | Title: MEXICO: Plows Plus Rifles | 8/29/1938 | See Source »

...will, by its increased firepower, vastly affect infantry practice (and increase the hazards of the U. S. and all armies). On paper in the War Department, and partially worked out in the field, is a new infantry division, halved from the present strength of 22,000 into a more compact, harder-hitting unit combining infantry, ground reconnaissance in one command...

Author: /time Magazine | Title: ARMY & NAVY: Arms Before Men | 8/22/1938 | See Source »

...eight years. By heart the voters know how he was born to poor parents in Corydon, how his mother left his father in 1902 when Happy was four,* how he sold newspapers and did odd jobs while getting through high school. A 170-pounder, 5 ft. 10½ in., compact and fast on his feet, enormously cheerful and energetic, he arrived at Lexington to enter Transylvania College with "a red sweater, a $5 bill and a smile." He got a job in a laundry, played football, basketball and baseball (captain), charmed the campus by his grin and his singing...

Author: /time Magazine | Title: KENTUCKY: The Roosevelt Handicap | 8/1/1938 | See Source »

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