Word: oils
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Dates: during 1940-1949
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Compared with the annual .prewar total of 61 million bbls. of oil from the entire Netherlands East Indies, Tarakan's production was tiny. But in the logistics of the Pacific War the importance of Tarakan's supply is all out of proportion to its size. If the capable Dutch, most of whom are Royal Dutch Shell men, can quickly push Tarakan's production up to its prewar average they will be able to deliver each month to the U.S. Navy as much crude oil as 15 of the biggest U.S. tankers, shuttling from California...
...quantity of oil the Dutch can extract from Tarakan will help ease the strain on Pacific shipping. Last week in Manhattan Frank J. Taylor, president of the American Merchant Marine Institute, appraised the task of supplying our rapidly expanding forces in the Pacific. His estimate: exclusive of Navy needs, when our service personnel and fighting men reach a strength of 3,000,000, a fleet of 180 deep-laden tankers must sail from West Coast ports every month on the long, slow trek across the vast Pacific...
Cash In. So Wagner and Glore, who hated to see the corporation's cash in stocks & bonds instead of sparking new business, tried their luck on Chicago real estate, began to dabble in Texas gas & oil. They saw a fortune to be made in waste natural gas. Texas oil wells within ten miles of the present pipeline alone were blowing it off at the fantastic rate of 200,000,000 cubic feet a day because there was nothing better to do with...
Wagner, who had been upped to president when Charlie Glore became chairman of the executive committee, sank $500,000 in a new process for extracting gasoline from gas, enthusiastically leased vast tracts of "worthless" gas lands, set up a string of money-making oil and gas subsidiaries...
Died. Frederic Bayley Pratt, 80, longtime head of Brooklyn's coeducational, 57-year-old Pratt Institute, which was founded by his multimillionaire father, Charles Pratt, associate of John D. Rockefeller in organizing and originally running the Standard Oil Co.; of a heart ailment ; in Glen Cove...