Word: oiling
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Dates: during 1950-1959
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Wall Street glumly estimated a float of $100 million to $150 million worth of unsold high-grade bonds in dealers' hands, with another $500 million worth of new bonds scheduled for offering within the next three weeks. The market was so saturated that Standard Oil of California decided to withdraw a planned $150 million offering because the underwriters' suggested price was too high. A $20 million issue by Pacific Power & Light Co. was tough to sell even with a yield of 4.35%. Moreover, when two syndicates that had been supporting the AA-rated issues of Illinois Power...
Died. Alexander Malcolm Smith, 99, Scots-born explorer and prospector (for oil and gold), who became a legendary figure in the Canadian northwest and Alaska, once blazed an 1,800-mile trail from Alberta to Dawson in the Yukon Territory, later spent some time in a Soviet jail for prospecting on the fringes of Siberia; in San Jose, Calif...
...Syrians from slipping farther into the Soviet orbit, but the socalled "northern region" of the U.A.R. remains infiltrated by Communists to an alarming degree. An estimated 1,000 Soviet technicians, military advisers and embassy personnel are stationed in Syria; the area is aswarm with "technical" missions of bridge builders, oil surveyors and "fertilizer experts." Syria is dependent on Russia for $170 million of its $600 million development program...
IMPORTS FROM U.S. will be cut by France to curb nation's soaring trade deficit. Rather than reduce nonessential imports from her European neighbors, which threaten to retaliate against French products, France will slash essential imports of coal, oil, machinery from...
...dive-bombing, ended when he resigned from the regular Navy in 1930 in protest against sea duty. A Georgetown-trained lawyer, he was no less articulate than air-minded, wrote a syndicated Scripps-Howard newspaper column while he worked as flying salesman and good-will man for Gulf Oil Co., meanwhile kept a part-time military franchise with a Marine Corps Reserve commission. For advocating a separate U.S. air force, Al Williams was forced to resign from the Marine Corps in 1940. He countered by offering himself and his personal fighter planes-one of which is now in the Smithsonian...