Word: petroleum
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Dates: during 1930-1939
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...emptorily demanded resignations from the Laphams and four other directors. When they were refused Jack Lapham moved that Mr. Holmes resign and if he did not that he be ousted. Mr. Holmes was automatically out. Kindly Charles Bismark Ames, a former vice president, was recalled from the American Petroleum Institute to head the board. Last week in answering Mr. Holmes's attack Texaco officials swore that as long as Mr. Holmes was president he had never asked for more directors; that many of his accusations were just not true; that by omitting many material facts he suggested conditions which...
...American Bankers Association convening in Chicago the President sent a message exhorting its members to loosen up on commercial credit to help along the NRA drive. ¶ President Roosevelt got a business letter last week from the son of President Cleveland. As counsel for the Individual Brand Petroleum Association, Richard Folsom ("Dick") Cleveland, famed for the great revolt he led against the Princeton Club system two decades ago wrote to protest NRA's price-fixing for oil which would tend to put out of business his clients, small independent gasoline station owners in 26 states...
...Italy promises to swap fruit and olive oil for Austrian timber and machinery, and put this section of the agreement into immediate effect by signing a large order for Austrian lumber last week, ordering $100,000 worth of drilling machinery to help her ceaseless search for petroleum in Italy and Albania...
...black & white, General Johnson tackled the oil men. All his hard-boiled energy could not get them to agree with one another. Chief split was on price fixing. One group including Harry F. Sinclair, Kenneth R. Kingsbury of Standard Oil of California, Wirt Franklin, president of the Independent Petroleum Association, wanted complete price fixing from well to consumer. The other group including the representatives of Standard Oils of New Jersey and Indiana, Texas Co., Royal Dutch Shell, Gulf, Sun, Atlantic, favored only that oil should not be sold below cost, opposed complete price fixing. A day's work brought...
...Pennsylvania combined. It remade the oil business. Unable to cope with a financial find of such magnitude the Jugoslav and his backer called in Colonel Guffey of Pittsburgh. Guffey soon called in the Mellons. Andrew Mellon bought out the discoverer for $400,000. The $15,000,000 Guffey Petroleum Co. (later Gulf Oil) was founded-40% Mellon owned to begin with-more as time went on. In the midst of these busy times, Andrew Mellon, aged 45, finally married. His wife was Nora McMullen, daughter of a Dublin distiller, whom Mellon met while she was visiting in Pittsburgh. Donora, Union...