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...European continent, a U.S. 1,500-mile intermediate-range ballistic missile has, so far as Russia is concerned, all the bang of an ICBM. Last week, in a major policy decision, the Administration decided to push toward allowing NATO that big bang, even if it means changing the McMahon...

Author: /time Magazine | Title: THE NATION: Missiles for NATO | 11/25/1957 | See Source »

...pile of enormous, fleece-lined coats. To arriving friends the man said: "Here, you better take this. It might be cold up there." It was. The gathering party's destination, Fort St. John, B.C., lay smothered under snowdrifts 8 ft. high. But to Francis Murray Patrick McMahon, temporary coat-dispenser and full-time oil-and-gas tycoon, a town buried under snow was no problem. Calling for "all the tractors from Dawson creek to the Alaska border," McMahon's men within hours cleared off Fort St. John's airport, spread gravel on the walks at nearby Taylor...

Author: /time Magazine | Title: The Hemisphere: Tycoon's Wing-Ding | 10/21/1957 | See Source »

With those details accomplished, Frank McMahon, 55, went on to the business at hand. From Texas and Montreal, from London and Manhattan, McMahon had invited some 400 bankers, oilmen, businessmen and their wives to a razzle-dazzle two-day blowout in celebration of the link-up of his Westcoast Transmission Co. Ltd. pipeline to the U.S. Northwest. Chartering five four-engine aircraft (at a cost of $13,000 each), McMahon got the wingding off in high gear by serving cocktails with breakfast on the flight to Fort St. John. There the guests were provided with more clothing-350 pairs...

Author: /time Magazine | Title: The Hemisphere: Tycoon's Wing-Ding | 10/21/1957 | See Source »

...Line at 8. Hardheaded Frank McMahon has worked for 20 years to see it come in. Son of a British Columbia wildcatter, McMahon attended Spokane's Gonzaga University (where he was a campus mate of Bing Crosby), began wildcatting in the 19303. In 1939 he formed Pacific Petroleums Ltd., which in less than 19 years has piled up total assets of $34.5 million, holds interests in 7,500,000 acres of potential oil-and-gas lands...

Author: /time Magazine | Title: The Hemisphere: Tycoon's Wing-Ding | 10/21/1957 | See Source »

Increasingly, McMahon turned his attention to natural gas, hounded the B.C. government to open up lands for exploration. When the go-ahead came in 1947, Frank McMahon was in line at 8 a.m. at the government offices; he bought permits No. i, 2 and 3 for $1,800,000, thus obtained rights to 3,000,000 acres. Incorporating Westcoast Transmission Co. Ltd. in 1949, McMahon three years later brought in his first gas well, Pacific Fort St. John No. 3. By 1955 McMahon won permission from the U.S. Federal Power Commission to export gas to the U.S., started to build...

Author: /time Magazine | Title: The Hemisphere: Tycoon's Wing-Ding | 10/21/1957 | See Source »

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