Word: oil
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
Since the nomination was such a pushover, U. S. interest centred on the proposed platform. The convention drafted a plan to nationalize the oil industry completely within the next six years. If the plan is endorsed, all petroleum holdings will be seized, and compensation paid only "in the event that it should be absolutely indispensable," and only if it is proved that the original concession was not fraudulently obtained. Land expropriation will also be continued as vigorously as possible...
...Into the Panama Canal Zone went the British cruiser Despatch with news that somewhere in the Caribbean last month she had overhauled the German tanker Emmy Friederich, carrying 40,000 barrels of Mexican oil and quantities of provisions, ostensibly bound for Sweden but more likely for a sea-raider rendezvous (TIME, Oct. 30). When Despatch's men boarded her, Emmy's men opened her seacocks, scuttled the prize. Despatch passed through the Canal into the Pacific, perhaps to chase the pocket battleship Admiral Scheer, which was believed to have rounded the Horn. Two German freighters which had taken...
...hungry New Jersey has a propensity for pulling the teeth of gift horses (see p. 73). One victim was opulent Standard Oil Co. of New Jersey (assets: $2,044,635,000). Hit with a $300,000,000 assessment on its intangible property by Newark in 1935, the company got it reduced to $50,000,000, paid a $2,000,000 personal property tax, promptly moved its books and records to Linden. There town fathers slapped on a $75,000,000 "omitted assessment." Standard paid a $1,000,000 tax and began looking for still another home...
...policy, a tax rate that seldom fluctuated, little debt, conservative little Flemington, near New Jersey's western border, looked good to harassed Standard. Into the tiny law office of sedate, greying George K. Large (Princeton '99; former country judge) went a huge new safe to hold the oil firm's records of incorporation. Up went the town's ratables as Standard was assessed $45,000,000 in personal property, paid a $301,500 tax. Down dropped the 1938 tax rate from...
Worse Off than in 1938 were seven baking companies whose profits were down 2.8%; seven beverage makers down 4.3%; six miscellaneous mining and quarrying companies are down 10%; 13 oil companies down 30.8%, reflecting August's overproduction crisis, the most serious in U. S. oil history and the failure of War II to provide export relief for continued inventory trouble...