Word: mellons
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Dates: during 1940-1949
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...industry's greatest engineering feats-was bringing in only 12,000 barrels a day last December, 50% of October 1939, still further below the 50-70,000 barrels expected. Further exploration might bring in more oil, but in the meantime the late Andrew Mellon's big Gulf Oil is probably glad it sold...
Since the late Andrew Mellon's new National Gallery of Art opened its bronze doors on Washington's Constitution Mall (TIME, March 24), many a critical connoisseur has looked Philanthropist Mellon's gigantic gift straight in the pink marble mouth. Architects have grumbled that the National Gallery is as massively old-fashioned as Grant's Tomb. Artists complained that the gallery ought to have made some provision for accepting contemporary art. Connoisseurs sniffed that its collection is sadly deficient in French...
...spread it around, but the fact is that there isn't any made-in-America art in the National Gallery. Most of it is Italian. It was owned, not made, by Messrs. Melton, Kress, and Widener. These men scoured it from the galleries of Europe--the Communists sold Mr. Mellon a lot of the old Czarist collection in return for a big chunk of his aluminum fortune. This is how the National Gallery got its start, but it isn't the way art is made...
...alley came MBS and Gillette Safety Razor Co., brandishing a contract with Promoter Mike Jacobs, by which all his Twentieth Century Sporting Club bouts would be theirs for the airing. Stunned were Adam and NBC, whose contract with Jacobs ends in June. Since Jacobs looms in boxing like a Mellon in aluminum, they would probably waste their time broadcasting any matches outside his jurisdiction. But NBC was not willing to be counted out, claimed at week's end it still had a hold on Jacobs because of a $15,000 advance on a new contract for 1941-42. Countered...
Biggest contribution ever made to a government by a private individual, Andrew Mellon's marble treasure house might well grow some day into one of the world's greatest national museums...