Word: leaseholders
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...when the President is Richard Nixon, for whom the White House is not entirely a home. He is, by his own testimony, a "saltwater man," and in a relatively short span of time has picked up two seaside abodes in Florida, another in California, as well as retaining his leasehold on the old family manse in Whittier, Calif. While none of the four dwellings is perhaps fit for a king, the three recent acquisitions are certainly suitable to the style of a First Family, with all that that entails. How in the world does Nixon meet those monthly mortgage bills...
Last year Irving Felt, chairman of the Madison Square Garden Corp., made a deal with the financially strapped Pennsylvania Railroad to take a 99-year leasehold on Penn Station's air rights. According to Felt's plan, the site would be stripped to ground level (the trains would still come and go below), and a new Madison Square Garden, seating 25,000 persons, would be built on top, flanked by two office buildings, all designed by Los Angeles Architect Charles Luckman...
...town's No. i host to sportsmen, writers and politicians, Shor built a reputation as a fabulous spender, was often broke but never for a moment lacked for loyal friends. Last week Shor had no lack of money, either. For $1,500,000 he sold his leasehold, which still has nine years to run, on his 51 West 51st Street restaurant, which he has operated since 1940. Purchaser: William Zeckendorf's Webb & Knapp, which plans to tear down Shor's place, add its 6,000 sq. ft. to an already cleared null building site facing Avenue...
...field-was the third brought in by Benedum companies in a month. Fortnight ago, near Gillette, Wyo., the three Benedum companies (Penn-Ohio Gas, Hiawatha Oil & Gas, Benedum-Trees Co), that hit in Ohio also brought in another promising oil pool on a 90,000-acre leasehold of virgin oil land, pumped an initial 350 bbl. daily and are now drilling a second well. Last week, in Brooks County, Texas, still another well came in for the same three outfits, this one capable of producing 30 million to 40 million cu. ft. of gas daily on 1,600 acres...
...Canadian-born son of a wandering hard-rock miner, Oilman McMahon quit college to become a prospector himself, bounced from drilling rig to drilling rig until the 1940s, when he moved into the Peace River area above Edmonton in search of gas and oil. When the provincial government lifted leasehold restrictions on Peace River lands in 1947, McMahon snapped up an original 300,000 acres and started prospecting. The first two holes were dry. Then in 1952 at Fort St. John, 345 miles from Edmonton, his Pacific Petroleums drillers brought in a promising gas well at shallow depth, followed...