Word: murchisons
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...which many newsmen consider the New York Times of Canada, will be sold to a "responsible" bidder by the estates of George McCullagh and William H. Wright. Already mentioned as possible buyers: Roy H. Thomson, Canada's biggest newspaper publisher (TIME, Sept. 14, 1953), and Texas Millionaire Clint Murchison, whose property includes half interest in the big Trans-Canada Pipe Lines Ltd. Estimated minimum acceptable price...
Such big rich Texas oilmen as Clint Murchison and Sid Richardson (TIME, May 24) have made their millions by a variation of the capital gain-the depletion allowance. Others have made their millions in a dozen different ways, helped by capital gains. They have built up old companies, formed new ones, invented new products or services and even entire new industries-all with profits (when and if they sell out) subject only to the capital-gains tax. Los Angeles' William Lear, for example, has built his Lear, Inc. into a $50 million company making automatic pilots and other electronic...
...Thus giving Texas Wheeler-Dealers Sid Richardson and Clint Murchison paper profits of $1,350,000 on the 300,000 shares that they still hold of the 800,000 shares purchased at $25 a share last March...
TEXAS OILMEN Clint Murchison and Sid Richardson, who own 80% of Kirby Petroleum Co. (120 wells, three plants in seven states), are negotiating to sell the company to Continental Oil Co. Conoco, which operates in 26 states and Canada, has offered $26 million for the company, would pay $10.20 a share plus all accrued dividends for 500,000 preferred shares, $34 a share for 593,000 shares of common stock...
...Hilton-Statler combination (TIME, Aug. 16). So do changing business tides. The Paramount Theatre chain, making money in a troubled industry, was a natural to combine with American Broadcasting, which was losing money in the promising new field of television. One of the reasons advanced for Oilman Clint Murchison's current interest in Follansbee Steel (see Tycoons) is that the steel company has a listing on the New York Stock Exchange, something that Murchison has never...