Word: hydrocol
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Dates: during 1950-1959
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...CARTHAGE Hydrocol, the ill-fated synthetic gasoline company set up in 1946 and headed by ex-Republican National Chairman Guy Gabrielson (TiME, June 26, 1950), may be back in business before long. Stanolind Oil & Gas Co. wants to take over the closed-down Texas plant, pay off an $18.5 million RFC loan, and put another $25 million into expansion. The RFC, which is itself going out of business, is negotiating with stockholders to okay the deal, and thus get back the money it sank in the project...
...George Gabrielson, chairman of the Republican National Committee, dropped in to explain why he has been getting paid $25,000 a year for looking after the $18.5 million loans of Carthage Hydrocol, Inc., a Texas corporation which makes petroleum out of natural gas. He is president and counsel of the company, Gabrielson testified, but has never tried to use "influence." He called many times on Republican Harvey J. Gunderson when Gunderson was RFC director in charge of the Carthage Hydrocol loan. He called on RFC's new boss, Stuart Symington, to talk about a delay on the payments...
...obvious that the issue of corruption and influence in the Truman Administration was shaping up as one of the G.O.P.'s strongest campaign weapons, and Gabrielson was showing a peculiar insensitivity to party welfare by clawing on to both his political job and Carthage Hydrocol. California's Richard Nixon, a Republican member of the Senate subcommittee, put the point bluntly this week: "[Gabrielson's] effectiveness as chairman of the minority party has been irreparably damaged because the charges against him will constantly be used to camouflage and confuse the issue...
...exposures were not entirely partisan. Most of the scandals involving Democrats were brought to light by Democratic members of Congress. And it was a Republican Senator who denounced Republican National Chairman Guy Gabrielson for working on the RFC in an effort to get an $18.5 million loan for Carthage Hydrocol Inc., of which Gabrielson is president and counsel. Welcome as the Gabrielson issue was to the Democrats, it scarcely relieved them of the onus of the Administration scandals...
...Boyle's opposite number, Republican National Chairman Guy Gabrielson, was faced with a charge similar to that made against Boyle. Delaware's Republican Senator John Williams said that Gabrielson had been trying to talk the RFC into extending a $18.5 million loan to Carthage Hydrocol Inc., an outfit which makes aviation gasoline from natural gas. Unpaid by the Republicans, Gabrielson was getting $25,000 a year as Hydrocol's president and counsel. Democrats had been tipped off to this juicy item by RFC's Stuart Symington, but the Republicans, stung by the turn of events...