Word: oils
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Dates: during 1940-1949
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...White House. He had said last month that he quit the market right after President Truman's angry denunciation of speculators in October. The fact was that he had not got out until about seven weeks later. He had not known, the General explained, that cotton and cottonseed oil were called commodities...
...home?" The meeting was rapidly getting out of hand when Hollywood's Frank Scully, one-legged author of Fun in Bed, onetime candidate for the California assembly (his slogan: "Out of the Gully with Candidate Scully"), took the floor. Supporting himself on chrome-plated crutches, he began an oil-on-the-waters speech. "Let's not divide ourselves to the point where we're zero," he said. "We're damn near that...
Though the credit for it was only partly his, Michael L. (for Late, after the doctor who delivered him) Benedum amply deserved the tribute. He started in the oil business at the age of 20 with $500 in cash and a million dollars' worth of nerve. Along with the late Joe Clifton Trees, the technical brains of a lifelong partnership, he struck his first oil in West Virginia...
...Oil at Sea. Mike Benedum prowled the world in search of oil, losing fortunes in Peru and China, but making bigger ones on major strikes in Mexico, Colombia, Rumania. His most spectacular achievement was the discovery of the great Yates pool in Texas, in 1926. It prompted his claim that "Joe and I have unloosed more oil than anyone else." In unloosing it Benedum piled up a fortune estimated at over $80,000,000. The new strike, big as it was, proved only that a wildcatter could never quit...
Last week from Pittsburgh, where Mike runs his scattered ventures from the Benedum-Trees skyscraper, came word of a still newer Benedum venture. His recently formed Melben Oil Co., which had spent $1,000,000 exploring for oil along Texas' coast, leased 120,480 acres of tideland area from Texas for $1,383,467. From a specially equipped $500,000 float, Mike Benedum will soon start drilling under the Gulf of Mexico...