Word: oils
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Dates: during 1930-1939
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Other investigations-monopoly, petroleum, tax revision, banking, forestry, fisheries, wild animal life-will play to smaller houses. Biggest show of all would have been the proposed investigation into the alleged Mexican oil dealings of Pennsylvania's onetime oilman, Senator Joe Guffey. In announcing the Senate Foreign Affairs Committee's decision to quash the investigation, Senator Connally of Texas wisecracked: "We've just dry-cleaned Joe." == Call for this inquiry arose from stories written by top-flight Reporter Marquis Childs in the St. Louis Post-Dispatch, and by pretty Ruth Sheldon in the Saturday Evening Post. Mr. Guffey...
Impending war has made whaling highly competitive. The industrial value of a full-grown blue whale is about $1,500. Whale oil can be made into glycerin (for high explosives, etc.), oleomargarine, soap, lubricants. England has stored some 80,000 tons of it for war purposes. Partly because the Antarctic is its chief source, Germany, Norway and Argentina recently laid claim to vast segments of that frozen continent, and the U. S. is to send Admiral Byrd thither next October to establish U. S. claims...
...Norwegian harpooners, who earn $6,000 to $15,000 apiece in the five-month season, live like Hollywood stars in Norway's whaling capital, Sandefjord. For the business depends on their art, finding whales and killing them. Two years ago Germany (world's biggest whale-oil user) signed Harpooner Lars Andersen, Norway's ace gunner, to a three-year contract at a reputed salary of around $125,000 a season...
...Antarctic last year were all but a few of the world's 40 floating factories and scores of killer ships (small motor vessels from which the whales are harpooned, then towed to a floating factory). Their catch: 46,039 whales; 3,340,330 barrels of oil (over 90% of the world total). Of this the U. S. share was about 3%. Using Norwegian killer ships, the Ulysses caught over 1,400 whales, boiled them down, sold the oil to U. S. soap manufacturers at an average price of about 5? a pound. Ready to send his refinery back...
...Revenue Act of 1938 Congress put a prohibitive excise tax of 3? a pound on whale oil produced with the aid of foreign killer ships. This does not benefit U. S. harpooners because there are none but it suits U. S. farm and fish lobbies, because whale oil competes in a small way with domestic oils and fats in soap making. The whalers sponsored an amendment postponing the excise for five years. Last week Congress adjourned without acting on it. To Whaler Isbrandtsen that meant: 1) buying a fleet of killer ships (estimated cost of eight if U. S. built...