Word: rieber
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Dates: during 1940-1949
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Into their handsome board room on the 26th floor of Manhattan's spike-topped Chrysler Building last week strode 15 grave directors of $661,067,033 Texas Corp. Eleven of them were there to debate the fate of their $100,000-a-year chairman - hardheaded Torkild Rieber, Norwegian-born onetime tanker master. Three, officers of the company, had come to listen. In the witness chair was Oilman Rieber. Out side, in the anteroom, were war and Adolf Hitler...
...hours the eleven directors wrangled over ways & means of piloting Texas Corp. out of the search light beam its chairman had attracted by seeming to be friends with Nazi Germany. All were agreed that the New York Herald Tribune's three-week-old revelation of the connection between Rieber and Hitler's cumbersome ambassador-off-the-record to U. S. businessmen, Dr. Gerhardt Alois Westrick (TIME, Aug. 12), threatened to hit Texas Corp. in the cash register. Those who knew Cap Rieber were sure he was no pro-Nazi, although he had been keen to do business with...
Debate. As talk cleared the way for more talk, the battle lines developed in the board room. On one side were the New Yorkers, more sensitive to the foreign issue. They were led by potent Manhattan Attorney Walter G. Dunnington, who had nursed Torkild Rieber along from promotion to promotion in his 36 years with Texas Corp., felt responsible. As the representative of Texas Corp.'s biggest single stockholder (estate of Empire Builder James J. Hill's son), Director Dunnington's opinion was important. Reluctantly, he felt that the chairman's tongue-wagging had made...
This week the Texas Corp. directors had to face a further decision: whether to sever Director Rieber from the company completely by taking away his directorship. For the rank & file of Texas Corp. employes, that question was academic. They knew it would be a cold day before they could forget the greying, generous, powerfully built man who slapped them on the back and said: "This is the best God damn company in the world"; who built the famed Barco pipeline in Colombia after they said it couldn't be done; who once exclaimed: "Hell, if they wanted to move...
Lawyer Callan happens to work for the firm of Shearman & Sterling, one of whose clients is Captain Rieber's Texas Corp. At week's end, Dr. Westrick packed his trunks without haste, made ready to move out of Lawyer Callan's house "as soon as possible." Next week, on Aug. 12, his three-months lease expires...