Word: oilmen
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Dates: during 1930-1939
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...Getty's springboard to big Tide Water. Pacific Western dipped into surplus funds, bought 360,000 shares of Tide Water Associated Oil Co. common stock at depression prices while Mr. Getty and other Getty interests acquired 500,000 other shares. Tide Water directors quickly saw to it that Oilmen Getty and Grimm were elected to their number...
...oilmen who attended the 17th annual meeting of the American Petroleum Institute in Chicago last week there appeared a notable paradox. For while speakers lambasted Oil's perennial incubus of Taxation with might & main, many an oilman was ready to concede that in one instance, at least, Taxation had done the oil business good. The wonder worker was a particularly painful chain store tax which went into effect in Iowa in June 1935. Upon oil companies owning retail outlets it piled a new levy graduated steeply upward both on gross receipts and number of outlets. By last week...
Notable if not definitive is Editor White's account of how a group of Kansas editors and oilmen who had grown up together ran Alf Landon's pre-convention campaign which began "all hilarious and haphazard, all country town stuff . . . an amiable, neighborly, good-natured Kansas mutual admiration society, with ribald but affectionate swipes at the old 'Budget Balancer.' " It ended at Cleveland when the same group "managed to stumble through, and, by looking wise, seemed to be dominating the situation, which was controlled largely by guess and by grab, and, by good dumb luck...
...idea of forming pools to buy up surplus gasoline reached oilmen from Washington in 1933 when East Texas skimming plants were playing hob with the market. First pool buying was done in 1934 under the direct supervision of Secretary of the Interior Ickes acting as administrator of the petroleum industry. That year he said: "I feel that this plan is a real move toward stabilization of the oil industry." The program, however, did little good, largely because the East Texas refiners and some major companies could not be persuaded to join the pool. Month after his announcement, Secretary .Ickes made...
Chairman Arnott went to work, but before the second price stabilization program got under way, it was pigeonholed by the Government. Oilmen went ahead with operations of their own, on which the present indictment is based. When they got under way almost the only howl came from the jobbers...