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...some portly oil barons met in a Manhattan hotel room and the now-extinct Continental Trading Co. of Canada bought 33,333,333 bbls. of oil for $1.50 per barrel. The same day, the Continental Co. sold the same oil for $1.75 per barrel to the Standard Oil Co. of Indiana, instantly netting some eight million dollars on paper.* The strange thing was that a third company, which guaranteed the Continental purchase, was jointly owned by Sinclair, who controlled Continental and the Standard Oil Co. of Indiana, which was buying from Continental...

Author: /time Magazine | Title: CORRUPTION: Old Oil | 2/13/1928 | See Source »

Congress used to be called "Government by Committee." The Senate's Committee on Committees, invented in 1912, was a staple for the political japes of a generation not yet extinct. But now the system has been perfected into "Government by Inquiry." Whenever a "crying need" or "shameful scandal" is discovered, the nation's legislators (especially in the Senate) go through motions which notify the coun- try that (though the matter may be handled by one of the 79 committees which Congress keeps standing for all purposes) the treatment will not be mere routine efficiency but something extra-special and significant...

Author: /time Magazine | Title: THE CONGRESS: The Inquisitors | 2/6/1928 | See Source »

Thomas Wakefield Goodspeed graduated from the University of Chicago, then a small Baptist institution, in 1862. In the years that followed, the University of Chicago crumbled slowly; in 1886, the year after Thomas Wakefield Goodspeed went back to become a Doctor of Divinity, it became extinct. This made Dr. Goodspeed sad and thoughtful; he saw the need for a successor to his small and defunct alma mater, a successor which should be larger, intellectually more potent, better endowed, nonsectarian. He therefore went to John Davison Rockefeller, in 1889 already a famed financier, and explained to him why Chicago needed...

Author: /time Magazine | Title: Education: Death of Goodspeed | 12/26/1927 | See Source »

...dolmas. The Story: Mrs. Ruth A. Jeremiah Gottfried has assembled in staccato sentences 128 recipes: "The booty that one casual observer in foreign kitchens found practical to bring home and too tempting to leave behind." Each recipe has a catch-eye head- ing?some with snap. Examples: "Pilaf: An Extinct Soup"; "Carme-leis: Swoons in Cream"; "Silde-boller: Hamburger with Fins." Eyes which have been caught but perhaps frightened by pilaf, carme-leis and sildeboller are then directed to a consoling, italicized reassurance: The actual instructions for preparing each dish "... are so constructed that one may read each paragraph, then...

Author: /time Magazine | Title: Music: In the Kitchen | 12/12/1927 | See Source »

...book may be found some small poems which might appeal to those who can not afford to lose strength in an exhausting reading of the title poem. "Wings" has a lighter, almost fluttering rhythm. Probably the best in the book is the short but extremely powerful poem "Extinct...

Author: By D. M. H., | Title: Two New Books of Poetry | 11/19/1927 | See Source »

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