Word: pipefuls
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Dates: during 1960-1969
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Songs at Sunset (Virgil Fox; Capitol) features a great virtuoso and a great instrument (the 10,000-pipe organ at Manhattan's Riverside Church) pitted against the banalities of such music as Ich Liebe Dich and The Lost Chord...
...made (and lost) his first million in the U.S. and is now among Mexico's richest men. This week, in the biggest deal yet made within the nine-nation Latin American Free Trade Area, Pagliai, 60, loaded the first part of a $7,000,000 order of steel pipe for the Argentine PASA petrochemical complex. Next month he will open Latin America's biggest aluminum plant at Veracruz. A major force in Mexico's finance, Pagliai is busily negotiating 15 new international ventures...
TAMSA made a profit from the very beginning by selling pipe to Mexico's Pemex national oil monopoly, last year earned $4,500,000. Most of Pagliai's deals interlock in some way. Pagliai has helped to finance TAMSA's export sales through a finance company, Intercontinental S.A., that he created with the capital aid of such cronies as Germany's Alfried Krupp and big U.S. Investment Banker Charles Allen. Intercontinental S.A. has helped finance foreign investments in Mexico and raise large foreign loans for the Mexican government as well as for Pagliai...
...significance goes beyond these impressive figures. The new plant will draw its crude from a new and vital petroleum artery: the Rhone River Valley pipeline, which provides the first link from the Mediterranean into oil-hungry south-central Europe and helps to meet the commercial threat of the Russian pipe network now reaching toward the West through the Iron Curtain countries...
Stretching 485 miles (see map), the $120 million line took two years to lay, consumed 80,000 sections of 34-in. pipe, and was financed by a consortium of 16 firms from six countries-West Germany, France, The Netherlands, Belgium, Great Britain, the U.S. It will take Middle East and Algerian oil from tankers and channel it to twelve departments of eastern France, to the northern half of Switzerland and to a southern portion of Germany that accounts for 40% of all West German oil consumption. By eliminating overland haulage and the 2,000-mi.-plus roundabout ocean voyage...