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...January 1934, Navy flyers made the longest non-stop formation flight in aviation history. Patrol Squadron VP-10, consisting of six big Wright Cyclone-powered Consolidated Navy patrol flying boats and 30 officers and men, flew 2,399 mi. over the Pacific Ocean from San Fran cisco to Honolulu's Pearl Harbor...
From one rich U. S. family to another last week passed working control of the Virginian Railway, the 600-mi. model coal road built by the late Standard Oilman Henry Huttleston Rogers in the days of Roosevelt I (TIME, Dec. 16, 1935). In Manhattan, Adrian Hoffman Larkin, Virginian Board Chairman and trustee of the Rogers estate, laconically announced that 75% of the Virginian's common stock had been sold to interests identified with Andrew William Mellon. The consideration, said Mr. Larkin, was in excess of $31,000,000. Actual purchaser was a group headed by Koppers Co., Eastern...
...least 100,000,-ooo bbl. in its new field, Barnsdall stock in six weeks was moved up from $20 to $34 per share. C In ancient Teheran, capital of Iran (Persia), word leaked out that Seaboard Oil Co. had acquired exploration and exploitation rights to 180,000 sq. mi. of Iranian territory...
Granted to Amiranian Oil Co., a Seaboard subsidiary, the concession is reported to be good for 60 years, must be reduced in 15 years to 100,000 sq. mi. by the elimination of areas without oil. To carry oil out of Afghanistan and Iran, another Seaboard subsidiary called Amiranian Pipe Line...
...Northern Illinois and Peoples Gas Light & Coke Co. A $450,000,000 company, Commonwealth Edison has a virtual monopoly on electric power sales in Chicago's 210 square miles, has never missed paying a dividend. Public Service is a $226,000,000 company serving 6,000 sq. mi. of territory including Cook County outside of Chicago, north to the Wisconsin state line, south to Kankakee, west to the Illinois River. Peoples Gas Light & Coke Co. is principally concerned with selling gas to Chicagoans, gas made from coal and gas piped in from the Southwest. From this company James Simpson...