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...find sulphur with scientific devices that were well ahead of those of the U.S. companies. Nelson caught up with the other fellow so fast that by 1928 he was boss of drilling at Texas Gulf's old Texas fields, later managed production of the vast new Boling Dome deposit on the Gulf Coast. In 1931, he invented the sulphur trap to separate air and steam from sulphur at the well head, thus eliminating the corrosive elements and enabling sulphur to be piped directly to plants for processing. Three years ago, Nelson worked out a deal with Pure...

Author: /time Magazine | Title: PERSONNEL: Stepping Up | 7/9/1951 | See Source »

...early as 1942, says Eccles, the Federal Reserve System, the Comptroller of the Currency and the Federal Deposit Insurance Corp. became alarmed at the mushrooming growth of Transamerica Corp., the Giannini holding company which was buying up banks and making them branches of Bank of America (some of them in competition with Eccles' family banks). Accordingly, the three agencies notified Transamerica that they would not permit it to "branch" any more banks. But this united front, said Eccles, ended when John Snyder took over the Treasury. In 1946, Snyder's Comptroller of the Currency let Transamerica spread...

Author: /time Magazine | Title: BANKING: A Prophet's Charges | 6/25/1951 | See Source »

...Although Ed was born in poverty and had been a modestly paid public servant most of his life, Chicago was certain that he was a millionaire-perhaps two or three times over. Nobody had forgotten that Mayor "Big Bill" Thompson left $1,500,000 stuffed in his safe-deposit boxes, and it was hard to believe that onetime Sewer Engineer Kelly had not enjoyed similar opportunity...

Author: /time Magazine | Title: National Affairs: Treasure Hunt | 5/28/1951 | See Source »

...fine and the threat of "possible disciplinary action" hangs over the heads of all who fail to pay term bills today. Conscientious bill-payers many deposit their lucre at the Harvard Trust Company until 2 p.m. or at Lehman Hall until 5 p.m. Those with keys might try using the night depository slot before midnight at their own risk...

Author: NO WRITER ATTRIBUTED | Title: Save Ten Dollars: Pay Term Bill Today and Finesse Fine | 5/10/1951 | See Source »

...sharp-eyed critics in the press gallery dubbed him "the pouter pigeon with the kewpie smile." In domestic politics, he voted against the more radical measures of the New Deal, but voted for relief, Social Security, the New Deal housing program. He was the father of the Federal Deposit Insurance...

Author: /time Magazine | Title: THE CONGRESS: A Great American | 4/30/1951 | See Source »

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