Word: murchisons
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...five original companies backing the line, headed by Texan Clint Murchison, invested some $15 million in stock at the insiders' price of $8 a share. These holdings are now worth $43 a share, or $82 million. Influential speculators got big chunks of the $37.5 million public issue, which is now worth $161 million. Fantastic speculative profits were also made in three companies set up to gather or distribute the gas Trans-Canada will bring. Vancouver Oilman Ralph K. Farris, son of a Liberal Senator and founder of the Northern Ontario Natural Gas Co., paid $300 for stock now worth...
Into the Armco Steel Corp. plant at Houston this week rolled three carloads of iron smelted by a radical new process. Developed by a Hungarian-born inventor, Julius Madaras, and financed by Oilman Clint Murchison and others, the process eliminates the blast furnace and promises to smelt iron cheaper and faster...
...only one of five similar direct-reduction processes that are getting the close attention of steelmen. Though none is yet in sizable commercial use, the Madaras process is working successfully in a 50-ton-a-day steel mill making plates and light-gauge sheets in Monterrey, Mexico. Madaras and Murchison are presently negotiating with eight groups, five in the U.S. and three abroad, to set up 500-ton-a-day plants costing $3.5 million and expandable to 2,000 tons by an additional $3.5 million investment. They expect to announce one or more sign-ups in June...
...President Henry Ford II, 39, $400 million. Tied for No. 4: Sun Oil Co.'s publicity-shy Board Chairman Joseph Newton Pew Jr., 70, and Avia-tionabob Howard Hughes, 51, $350 million each. No. 5: Texas Oilman Clint ("After the first hundred million, what the heck?") Murchison, 62, $300 million. Tied for No. 6: Pittsburgh's far-visioned Banking Heir Paul Mellon, 49, St. Louis's fun-loving Brewer (Budweiser) August A. ("Gussie") Busch. Jr., 58, and money-pouring Philanthropist John Davison Rockefeller III, 51. In the No. 7 spot and tenth richest: the Coca-Cola...
...After equaling the world's indoor record for the 60-yd. dash (6.1 sec.) in a semifinal heat, Olympian Ira Murchison nosed out the Army's Ken Kave in the finals...