Word: neutralizes
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Dates: during 1950-1959
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...insurgents what help we can, short of going to war," admitted Tunisia's President Habib Bourguiba last week. "Our position is like that of the U.S. with respect to the Allies during the first years of World War II. We are not belligerents, but we are not neutral either...
PROXY FIGHT to oust Penn-Texas Boss Leopold Silberstein will be attempted by three directors: Robert C. Finkelstein and Wallace S. Whittaker, who were elected by anti-Silberstein rebels last year, and Major General Charles T. Lanham, onetime Silberstein ally. They are trying to win over three neutral directors who swing power balance on eleven-man board...
Getty stepped in and outbid them all. Though not a drop of oil had yet been discovered in the Neutral Zone, he offered Saud $9,500,000 in cash, $1,000,000 a year whether he hit oil or not, to be applied against 55?-per-bbl. royalties and 25% of the company's net profits from Neutral Zone production. In 1949, "in the name of God, the Merciful, the Compassionate," Pacific Western and the Kingdom of Saudi Arabia signed an agreement giving Getty one-half interest in the Neutral Zone for 60 years. Getty sent son George...
Getty not only made a big strike of Eocene oil at 1,200 feet, but got right to work on a refinery to turn it into heavy fuel. Since 1956, when Getty formally changed Pacific Western's name to Getty Oil Co., Getty's half share of Neutral Zone production rocketed from 5,841,728 bbl. yearly to 11.6 million bbl. last year. Getty considers that just a beginning; the wells are scheduled to double production this year. The zone has 60 wells producing 100,000 bbl. daily, another 60 that have struck oil but are shut...
...mother, Louise Lynch Getty; Getty talks with him by telephone, but has not seen him for a year and a half. Son Jean Ronald Getty, 28, is Tidewater's vice president in charge of marketing. Sons Gordon Peter, 24, and Eugene Paul, 25, will go to the Neutral Zone next month to meet their father, work like any regular hands among the drills and the rigs. Says George: "Mr. Getty would never promote anyone just because he was his son. With him, performance is the thing...