Word: crudely
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Dates: during 1960-1969
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...Trust, Morgan Guaranty-and 14 other banks are stuck with more than $24 million in bad loans to Haupt, have agreed not to try to collect until customers who lost their stock because Haupt used it to get loans are paid off. Haupt's bankrupt commodity customer, Allied Crude Vegetable Oil Refining Corp., wove such a web of tangled credit deals (offering as collateral for loans stocks of vegetable oil that now cannot be found) that losses may total more than $150 million. Giant American Express Co. could face heavy losses because it operates warehouse facilities in which missing...
Tony DeAngelis, a onetime butcher, made himself a wealthy man by steering his New Jersey-based Allied Crude Vegetable Oil Refining Corp. in and out of quick trades in the risky commodities futures market. Then DeAngelis thought he saw another chance for a fast fortune in soybean and cotton-seed-oil futures. If the Soviet bloc wheat crop failed, he reasoned, other farm products, including vegetable oils, must have suffered as well; and as soon as the Red nations had signed their wheat purchase contracts in the U.S., they would be back bidding on oils and other U.S. produce. DeAngelis...
...industry in Italy. For one thing, Shell wants to make sure that all the Italian petrochemical business does not eventually go to E.N.I., the state oil and gas monopoly that the big oil companies heartily dislike. In Montecatini, Shell will also have a good Italian outlet for its own crude...
...Minister Marshal Chen Yi conceded that economic troubles and the quarrel with the Russians (who withdrew their technicians and broke an atomic-aid treaty) have seriously delayed Peking's atomic program. It would be "several years," Chen told visiting Japanese correspondents, before the regime could even test a crude atom bomb...
Advancing in Africa. With two close aides who also had been cronies of Mattei-Eugenio Cefis, 42, and Raffaelo Girotti, 45-Boldrini has bargained to buy low-cost crude oil for Italy from both Russia and the U.S.'s Jersey Standard, thus pursuing Mattei's policy of playing off rivals and exploiting a buyers' market. Stretching out in Europe and Africa is the chain of gas stations run by E.N.I.'s sales arm called AGIP, whose symbol is not a dinosaur or a flying horse but a six-legged dog (it was a draftsman...