Word: ets
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Dates: during 1950-1959
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...group of U.S. oilmen last week made a deal with Spain to wildcat for oil in the Ebro Valley, although no oil in quantity has ever been found in Spain. The group, which includes Delhi Oil and famed Geologist Everette de Golyer (TIME, April 3, 1944 et seq.), has put up $1,000,000 as a starter, while the state's Institute Nacional de Industria, has put up the same amount. If oil is found, the Spanish government will get 3%, while the American group and the Institute Nacional will split the remainder, one of the most favorable foreign...
Line of Mercury. Pinay had a good talking point, but he would need results, not arguments, to convince the National Assembly, which reconvenes next month, that his government can keep its promise to balance the French budget without raising taxes. At first, Pinay did remarkably well (TIME, April 21 et seq.), but by last week his "save-the-franc" campaign had fallen afoul of man and nature. Foot-and-mouth disease, raging in central France, had ravaged cattle herds, sent beef and veal prices soaring. A hot, rainless summer reduced butter and cheese production, ripened a grape harvest so abundant...
...scanning the horizon, last week displayed two from the horizon-or a bit beyond. Both were still in the model stage. ¶ The Geodesic House, which looks at quick glance like an airy, latticework igloo, is the work of ingenious Designer R. Buckminster Fuller (TIME, Nov. 7, 1946, et seq.). Fuller's new design-aims at economy and simplicity. He chose the dome shape in order to cover the largest area with the least surface, and because such a house should be easier to cool and heat than conventional ones. The surface itself, he says, can be transparent...
Fabric is also a keynote this year. The ruling thought is to make wood look like cloth, cloth look like fur, and fur look like fabric. Dacron has coped the crown from rayon, nylon, et al. Poodle cloth is indistinguishable from persian lamb, and the glittering sheen of furs resembles satin more than sable...
...owed his defeat to President Rhee himself. Lee had been so effective in riding herd on the South Korean Assembly (TIME, June 9 et. seq.), mobbing the Assembly with young hoodlums and arresting some of its members, that he came out of the battle with too much power to suit Rhee. Since Lee posed a threat, Rhee kicked him out of the Home Ministry and had police, block leaders and village elders pass the word to voters that Rhee's favorite for the vice-presidency was not Lee, but a little-known politico of 82 (some...