Word: oil
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Dates: during 1930-1939
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...clever machines (see p. 50). There was a burglar alarm which fills a room with ultrashort radio waves, so that a person stepping into the room interrupts the waves and actuates the signal. There was a photoelectric meter which determines the Vitamin D content of a cod-liver oil sample by passing a light beam through...
Washington Henry Ochsner, a Swiss-born oil geologist, died in 1927 at 47 in a Portland, Ore. hotel, alone and virtually penniless. Behind he left a widow, two former wives, three children, a host of disgruntled backers and oil royalty rights on 2,538 gullied, sun-scorched acres in California's Kettleman hills. The year after Ochsner died, pay sands were struck in those hills, opening up one of the country's major oil pools. From the Ochsner acres nearly $1,000,000 of royalties have already accumulated, and estimates of the eventual total run as high...
...this early period arose in the courts by droves. Some 50 people from around Fresno, Calif., known as the Morrow Group, sued for 50% on the ground that they helped Ochsner assemble the claims. Another roup on the same ground asked for 20%. An Ochsner wildcatting promotion called Medallion Oil Co., which lost $100,000 for number of Wall Streeters including Bernard Mannes ("Barney") Baruch, sued not only for the royalties but the entire lease, pipe, well and derrick...
Another category of litigation dated rom the Federal oil land leasing law of 1920, which washed out old claims. As soon as that went into effect Oilman Pat Daugherty, who learned about leasing in Texas, hopped into his big old Cadillac, turned up the road to Kettleman, staked out nearly four square miles identical with Ochsner's old claims. He offered to ile them in Ochsner's name in return for a 10% interest, which was legitimate practice, Daugherty knowing land office ropes which Ochsner did not. Indeed, Ochsner tried to file his own claims-after looking...
...oil in which the late King Nadir Khan of Afghanistan boiled an opposing general and all his staff (TIME, Sept. 2, 1929) was castor oil, a primitive product of the country. Mineral oil is too rare in Afghanistan to be used as an ointment of royal justice. Last week in Berlin, how ever, handsome Foreign Minister Faiz Mohammed Khan signed an agreement which may eventually make pastoral, wild Afghanistan one of the major oil producing regions of the East. To Inland Exploration Co., controlled by Seaboard Oil of Delaware, Faiz granted exploration rights for 75 years to every foot...