Word: panning
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Dates: during 1930-1939
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...years ago the Dominion of New Zealand granted exclusive landing rights to Pan American Airways, providing that regular service was established between Auckland and Honolulu before 1938. Basing at Honolulu, P. A. A. last month sent its servicing "mother ship" 1,075 miles due south to Kingman Reef, first stop on the new route. Second stop was established at Pago Pago, Samoa, 1,538 miles farther south, where the clippers are prepared for the 1,798-mile jump into Auckland. Last week, flying his 19-ton. Sikorsky Samoan Clipper a steady 135 m.p.h., P. A. A.'s taciturn...
...here & there in the mass of anonymous writing, individual passages stick in the memory: the description of industrial Lawrence, Mass., of the slums of Washington, D. C. that lie within sight of the Capitol; the list of Whitmanesque place names-Corncake Inlet, Money Island, Frying Pan Shoals-in The Intercoastal Waterway; the account of Fort Fisher, in the same volume, where the sea, nibbling away at the old Confederate breastworks, occasionally washes up the skeleton of a soldier...
...McCarran Bill) would hand U. S. airlines over to the Interstate Commerce Commission while the other (Bland-Copeland Bill) would segregate over-ocean flying from domestic aviation and put it under the Maritime Commission, as Chairman Joseph Patrick Kennedy suggested in his famed report (TIME, Nov. 22). For Pan American, which escaped the visitation of the Black Committee in the airmail investigation, the ultimate decision is vital. Under the Lee-McCarran Bill, the I.C.C. would give preference in granting certificates for overseas air service to applicants already holding the necessary foreign licenses and franchises-which Pan American's shrewd...
...Best chance for an investor to share in airline progress: the growth of trans-ocean flying, now almost entirely concentrated, so far as concerns the U. S., in the hands of Pan American Airways...
...Pan American is prosperous and will almost certainly be flying the Atlantic next summer on commercial schedule, but the company has been severely criticized as a monopoly; in 1939 its profitable South American mail contracts expire and are unlikely to be renewed at the present high rate. "Therefore the only present medium of investment in the promising foreign field is the stock of a company which is facing a major crisis in the not far distant future...