Word: corpe
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Dates: during 1950-1959
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...import curb was no surprise, since Washington last July forced oil companies east of the Rockies "voluntarily" to reduce crude oil imports to protect the market for politically powerful U.S. independent oil producers. Nevertheless, the latest pronouncement drew sharp and angry protests from such companies as the Richfield Oil Corp., which was ordered to import no more than 9,100 bbl. daily v. a recent rate of 22,000. Said a Richfield vice president: "This is ridiculous. We have no information from Washington how this allocation was arrived...
...with new wells coming in at record rates, oilmen foresee that it may rise another 85% by 1966. Oil now accounts for about $2 billion in exports, or about 95% of the yearly total. Iron-ore production, mostly by the United States Steel Corp. mines at Cerro Bolivar, increased by a third in 1957 to about 15 million tons. Irrigation projects and rapid farm mechanization have boosted agriculture until Venezuela now produces 85% of its own food. New investments and a protectionist policy for inefficient industry have boosted production of everything from paint and cement to soap and tires...
...industry, rewarded Executive Vice President Mark W. Cresap Jr., 47, one of "Shape's" prime movers, with the presidency; longtime Boss Gwilym Price remained chairman. Every industry looked for new competitive talent. To exploit new markets at home, John L. Burns, 49, took over at Radio Corp. of America as Frank Fosom neared retirement; with more exploration abroad, William Whiteford stepped up to replace Gulf Oil's retiring Boss Sidney A. Swensrud. And when General Dynamics Chairman John J. Hopkins died, the man who moved in to tie the corporation's many divisions together was Frank Pace...
...bridges, temporary grandstands. In World War II he switched from pipe to artillery shell production. At war's end he decided to turn his pipe into the framework of a motor scooter like the just-launched Piaggio & Co.'s Vespa (TIME, June 16, 1952). Last year Innocenti Corp. grossed $43 million from scooters, 6,000 of them exported to the U.S., earned another $19 million from pipes and machine-tools...
...another 21,700 shares for tax purposes. Wall Street insiders figured that Bob Young's loss on the second transaction alone topped $100,000. Some of the Central directors who bought shares to help Young have also lost heavily. But the biggest loss has been incurred by Alleghany Corp., the holding company which helped Young take over the Central. Under Young's chairmanship, Alleghany Corp. bought about 1,000,000 Central shares at an average cost of $31, much of it after the proxy battle. On this stock, Alleghany has a paper loss of some $16.5 million...