Word: petroleum
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Dates: during 1950-1959
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Congressional tempers had really burned over such loans as the $6 million to wobbly Waltham Watch Co.; $37.5 million to the now bankrupt Lustron Corp.; $10.1 million to Texmass Petroleum Co., which used 81% of the money to bail out creditors; and $975,000 to Reno's Mapes Hotel, which gets a big part of its income from a thriving gambling concession. Congressional probers had found that 50% of all RFC business loans had gone down the drain of shaky companies instead of being used to finance new ventures...
...PRESIDING JUDGE OF THE LOS ANGELES TRAFFIC SAFETY COURT. . . I PERSUADED GENERAL PETROLEUM CORP. IN 1949 TO MAKE THIS FILM FOR USE IN OPENING EACH COURT SESSION AS WELL AS FOR GENERAL SAFETY EDUCATION PURPOSES. "AND THEN THERE WERE FOUR" WAS THE RESULT, AND IT IS SHOWN EACH DAY IN OUR LOS ANGELES COURT...
...prize which Texas thinks is being stolen? According to some geologists, it is 13 billion barrels of petroleum in that part of the continental shelf which curves from the Mississippi Delta to the mouth of the Rio Grande. In search of this oil, some 35 companies have paid Texas and Louisiana more than $52 million in leases and royalties since 1945 and have drilled 131 offshore wells. But many have been dry and the big strike has not yet been made. Last week only five wells were operating off the coast of Texas, and production was so poor that oilmen...
...outgoing institute president,* the growing U.S. economy will require three times as much electric power as the industry's present capacity. "That," said Lindseth, "will mean raising $30 billion of capital . . . [a sum] equal to the total investment today in the nation's iron and steel, automotive, petroleum and coal industries...
...General Petroleum Corp., Richfield Oil Corp., Shell Oil Co., Inc., The Texas Co., Tide Water Associated Oil Co., Union...