Word: nj
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Roselle Park, NJ...
Wily old (80) Calouste Sarkis Gulbenkian, one of the world's richest men, reputedly learned to bargain in the rug bazaars of Turkey. So it was no trick for him to block a deal for Standard Oil Co. (NJ.) and Socony-Vacuum Oil Co. in the Middle East. The two oil companies had offered to pay upwards of $150 million for a 40% share in the Arabian American Oil Co.'s Saudi-Arabian concession (TIME, Dec. 23, 1946). Before the deal was made, Trader Gulbenkian wanted...
Died. Charles Henry Ingersoll, 82, co-founder of the Ingersoll watch company ("the watch that made the dollar famous"); from injuries when he was hit by an automobile; in West Orange, NJ. Ingersoll and his brother Robert turned out their first dollar watch in 1892, made about 100 million of them before they went bankrupt and their assets were sold to the Waterbury Clock...
BARBARA JORDAN Tenafly, NJ...
...world's great oil pools lies in the underwater tidelands of the Gulf of Mexico. To tap it, Humble Oil & Refining Co., a Standard Oil Co. (NJ.) subsidiary, went 7½ miles out to sea, built an island of steel and started drilling through the Gulf floor. Last week, Humble announced that it had brought in its first big tidelands well, a strike that produced 887 barrels of oil a day before it was choked back...