Word: grahame
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Dates: during 1950-1959
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When Kansas Millionaire Bill Graham tried to spark a brush fire for capitalism in socialist-minded India last summer (TIME, Aug. 12), the government poured on cold water. Finance Minister T. T. Krishnamachari and others refused to see him. But last week Graham's dream of financing capital-starved entrepreneurs ("The small guy who's on the ball") and making a profit to boot had become too important to ignore. When Graham landed in India with funds raised from free-enterprising Americans, Pandit Jawaharlal Nehru himself sat down with the tireless enterpriser for a half-hour...
...reason for the turnabout was plain. India is now desperate for foreign capital and sees in Graham a chance to show good will toward investors. On Graham's part, there had been nothing but good will and hard work since last summer. Fervently talking up his dream back in the U.S., Graham collected $250,000 from fascinated' investors ranging all the way from the Rockefellers' International Basic Economy Corp. ($25,000) to an oil worker who offered $5,000 in $100 monthly installments and formed Private Enterprises...
Money-Sucking Sands. On his way to India, Graham not only picked up two more $100 checks from pilots in midair, but planted some free-enterprise seeds along the way. In Athens he left $10,000 with a committee of bankers for local loans, another $6,200 in Istanbul and $10,000 in Beirut. Already approved are loans to a Greek furniture company, a Turkish spring-clip factory, a Lebanese cement contracting business. He landed in India with $220,000 left in hand and a lot more enterprise in mind...
...weeks he trebled his capital. Indian Banker G. D. Birla, whom Graham met in San Francisco at the International Industrial Development Conference (TIME, Oct. 28), made good on a promise to match the capital in rupees. Another Indian millionaire promised an additional $200,000 in rupees; two textile magnates raised $25,000 more. Indian Industrialist J. R. D. Tata, owner of 25-company Tata enterprises (TIME, Sept. 30), is expected to come in soon...
...rest of the Clarkson starting team is equally formidable. Grant Childerhose and Bob Van Lammers are the first line wings, and teamed with sophomore center Mel Tomalky they make a fast and potentially high-scoring trio. The defense of Gil Tennant and Al Graham is a powerful and experienced one that saw extensive action in last year's NCAA tourney. The question is, then, how long can these players last...