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...headed for the rocks after losing money on two big excavation contracts. His backers advised him to give up contracting, concentrate on manufacturing his dirt-moving machinery. He did. Three years later his profits had jumped 1,026% to $586,378 and he had put up another plant in Peoria, Ill., to be near big Caterpillar Tractor Co. which powered his machinery...

Author: /time Magazine | Title: Business: Piety & Profits | 3/25/1940 | See Source »

...these blessings President "Bob"' LeTourneau thanks God. Last year he thanked Him 500 times before evangelist congregations to whom he preached free of charge. Weekly one of a coterie of ministers performs the same function for him in his Peoria plant's lunchroom for minor executives. To meet his preaching schedule he travels in his own eight-passenger Lockheed plane-big enough to carry a soprano known as "The Gospel Nightingale" and the (Negro) Carolina Gospel Quartet. Dirt-mover LeTourneau calls his church the Christian Missionary Alliance, and has preaching engagements for the next 14 months...

Author: /time Magazine | Title: Business: Piety & Profits | 3/25/1940 | See Source »

Recently Bob LeTourneau opened a $2,000,000 branch plant at Toccoa, Ga., to turn out his newly designed Tournapulls (self-propelled scrapers). Last week at his Peoria plant he dedicated a new wing "to the service of God." Principal speaker at the ceremonies: Herbert Hoover. LeTourneau contribution to the Finnish Relief Fund: $6,000. For World War II Earth Man LeTourneau has had French and English orders for 300 scrapers (60 are already in bombproof shelters at French airports, ready to level the fields after bombings). Pleased with his success, shrewd Evangelist LeTourneau says: "The more time I spent...

Author: /time Magazine | Title: Business: Piety & Profits | 3/25/1940 | See Source »

Born 44 years ago in Illinois, where his Uncle Dan Sheen was law partner of Agnostic Robert Green Ingersoll, Fulton Sheen made a splash as a scholar in Europe, returned to Peoria with an invitation in his pocket to teach at Catholic University. But his Bishop, instead of telling Father Sheen what a bright boy he was and bidding him Godspeed, put him in a poor, tough Peoria parish for two years...

Author: /time Magazine | Title: Religion: Monsignor's Tenth | 3/11/1940 | See Source »

John Beven expected to carry a trainload of blackstrap from New Orleans to Commercial Solvents' plant at Peoria, Ill, every ten days or so this year, for some $200,000. But the ultimate possibilities of the precedent are much bigger. If I. C. C. authorizes a rate that gets blackstrap out of barges, it may also fix similar rates for iron ore, lumber, coal, sugar, cottonseed oil - and a rate that keeps oil out of pipelines. At I. C. C. hearing Shell Oil Co., Inc. (subsidiary of Shell Union Oil Corp. with millions of dollars invested in pipelines) argued...

Author: /time Magazine | Title: CARRIERS: Trainload Lots | 1/22/1940 | See Source »

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