Word: oiling
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Dates: during 1950-1959
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Italians agree that Enrico Mattei is some go-getter. A policeman's son, slim, faultlessly tailored Financier Mattei in 14 years has built the state-owned ENI oil and gas monopoly from a stagnant relic of fascism into the nation's most powerful business enterprise, a sprawling empire that also makes soap and margarine and manufactures iron and steel. But Mattei has many enemies who dislike his contempt for private enterprise, resent his roughshod methods, and fear the considerable political power he wields as ENI's boss...
Cause of the fire was a defective shutoff valve in the oil burner which failed to function, causing the overflowing oil to ignite in the pit. Deputy Fire Chief Vincent Galvin declared, "It could have been a dangerous situation if it got out of the boiler room...
...gift of $70,000 from the Calouste Gulbenkian Foundation of Portugal was the largest single contribution. The bequest from the late international oil magnate's will was the first awarded by the foundation in America...
...Steelmakers poured at double last year's rate, were producing at 94% capacity. Oil production bubbled 14% above the spring 1958 level, and even Old King Coal staged a comeback. Soft coal output was up 29% at 8,300,000 tons for the week...
...most fervent opponents of splits are old-line managements who feel that the high price of a stock is synonymous with quality. Splitting a blue chip selling at $100 so that it sells at $20 would wash out its blueness. Superior Oil of California takes a defiant pride in the fact that its stock sells at $1,850 a share...