Word: oil
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Dates: during 1950-1959
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...Year holiday: the presidential gift to 1,100 White House employes, including the crew of the Columbine III, naval personnel from Camp David, motor-pool mechanics and servicemen who guard the presidential helicopter. Assembling at the White House, each staffer received a print of a new Eisenhower oil painting titled Deserted Barn-a weathered red barn with a ragged hole in the roof and a rusty old pump and a small wagon standing in a weed-rank yard. The President, explained Press Secretary Hagerty, painted it from his own imagination and memory...
...Under Secretary of State C. Douglas Dillon, onetime Wall Street investment banker, a foreign aid field commander with the tactical skill needed-and deployed-to prevail upon Congress to pass 1958's $3.3 billion foreign aid appropriation. As much as it dramatized Communism's infiltration of strategic, oil-rich Venezuela, the mobbing of Vice President Nixon in Caracas (TIME, May 26) underlined the urgent need for U.S. help for orderly economic growth in the hemisphere. Needed in Latin America, Asia and Africa alike was a new climate of incentive plans to lure more private-enterprise experts, more private...
...their sees the new cardinals carried something besides their new red hats and rings. Each received a book of dos and don'ts for cardinals. Items: a cardinal's residence must be decorously furnished and must have an ample entrance, a throne room decorated with an oil painting of the reigning pontiff, a reception room and a chapel. Each cardinal must have a private means of transport, and should avoid public carriers such as streetcars, buses and taxis. He must not drive himself. If he goes out for a walk, he must be accompanied by a clergyman...
...would last-or how far out and down the oilfield goes. Wildcatters were putting down wells over an area of hundreds of square miles north and south of the strike, seeking to establish the field's boundaries. In one solid gesture of confidence in the future, the Ashland Oil & Refining Co., purchaser of the bulk of the field's output, already has invested $200,000 in gathering lines, last week took bids on a $2,000,000 pipeline to pump oil directly to its refinery in Louisville, 70 miles away...
Matson is selling out because its Hawaiian investors, who own 42% of the company, are clamoring for the line to concentrate on shipping, sell off its many holdings in the oil, insurance, trucking and hotel fields. Matson's California investors, who own the majority of stock, have agreed to dispose of the hotels but oppose the other sales. Management's split runs so deep that there is talk of liquidating the whole company...