Word: prospectors
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George Crews McGhee, 43, onetime Rhodes scholar who served 18 months (until 1953) as U.S. Ambassador to Turkey, announced formation of McGhee Production Co., an oil exploration and development firm in Dallas. A longtime oil geologist and independent prospector, McGhee will first look for oil and gas in southern Louisiana, where he discovered the big West Tepetate field. McGhee is also executive committee chairman of Petroleum Reserves Inc., organized last March to buy producing oil properties...
...others, including many professional newsmen, write an occasional article, or hold regular jobs while they try to free-lance on the side. But the successful full-time free-lancer who depends only on the articles he sells to magazines is a rare breed. "Since the decline of the oldtime prospector," says Morton Sontheimer, past president of the 91-member Society of Magazine Writers, "few people have worked with less companionship, few have had to rely more on their own resources." For the top writers magazines compete fiercely. Satevepost pays a new writer $750 for his first piece, then jumps...
...Venezuela's diamond-rich Guiana, no prospector was more given to the feverish, carousing miner's life than Agustín Martínez. For months he would pan the sandy river bottoms; finding a few diamonds, he would load his canoe with rum and float downriver, happily strumming the cuatro, his four-stringed guitar. Then some missionaries showed Agustín the error of his ways. "I put the cuatro and the rum in a sack and threw them into the Caroni River," he reported...
...other miners nicknamed him "the Evangelist." But faith and sobriety made Agustín a more diligent prospector. Early this year, panning in the remote Paragua River, he found an egg-size black stone "that shone like a diamond." Agustín thankfully put it in his pocket and paddled away. But joy soon changed to anxiety. For some of the miners who saw the stone said it was a rare gem worth $600,000 or more, but others scoffed that it was only an industrial diamond worth a bare $4,000. Afraid to test his luck, Agust...
...hauled down the mountain. "I didn't hardly know which way to turn. We were going steadily into debt. It got so bad I even tried to get contractors to haul it down for 50% of the profit, but no one would. They figured I was another crazy prospector...