Word: oil
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
When Beth Sumner goes to India from the U.S. to stay with her sister, who is married to an American medical missionary, she walks right into an East-West fracas. Beth finds the gate to the mission compound barred by wire and empty oil drums, with Indian pickets waving slogans -MISSIONARIES GO HOME. Her sister and brother-in-law tell the story behind the commotion. Eight years before, they adopted an unwanted, illegitimate Indian infant and raised him as one of their own family. Now the Indian father, a merchant, is demanding him back, and missionaries and merchants are grappling...
...major oil companies have ever drilled in Spain because of currency restrictions and a law that limited foreign participation in drilling companies to 25%. But now Spain is in desperate financial straits, needs both oil and dollars, cannot afford its own major drilling program. Last week the Spanish Cortes (parliament) passed a sweeping new oil law to lure foreign drillers...
...first time, both management and capital can be 100% foreign, and the government will guarantee free conversion of profits, to be split fifty-fifty, into hard currencies. U.S. oil companies have long been plugging for such a change. Caltex and Standard Oil Co. (New Jersey) are already negotiating for rights under the new law, which imposes only two major restrictions: 1) Spain's home needs must be met first, and 2) Spanish oil must be carried in Spanish tankers...
Though no commercial oil has ever been found in Spain or Spanish possessions, geologists are almost unanimously optimistic. They think there is oil under the sands of the Spanish Sahara and Ifni (Spanish West Africa), and also in some areas of Spain itself. The bill also cheered U.S. businessmen, who hope that other foreign investments will be welcomed in Spain if drilling programs successfully bring in both dollars and oil...
...stock options, could dilute per-share earnings by as much as 35% if converted into common. Chandler expects potential profits from new products to help make up for any dilution. Among them: plastic-coated punch cards that would last longer than present business-machine cards, and paperboard containers for oil. In Chandler's office are six paperboard containers, shaped like milk cartons, which have held oil for a year. Said Chandler: "This company is in the right place at the right time...