Word: seaboarders
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...Named for Farmer Abner Spraberry, on whose land Seaboard Oil Co. first struck the formation...
...June 30, holdings of common stocks were: 21.5% oil, 20.5 % public utilities, 10.8% insurance companies, 6.8% chemicals. Major purchases of oil stocks included American Republic, Seaboard Oil, Superior Oil, Pure Oil, and Socony Vacuum...
Major purchases of stocks during the year included: J.I. Case, Seaboard Air Line Railway, Eastern Gas and Fuel, B.F. Goodrich, and Colgate-Palmolive-Peet. Largest individual holdings were in Standard Oil, General Electric, Christina Securities, International Paper, Insurance Company of North America, General Motors, Illinois Powers, and Kennecoit Copper...
From the beginning, the 23 states along the U.S. seaboard took it for granted that they owned the sea bottom that runs out from their shores to the three-mile limit of U.S. coastal waters. Nobody seriously challenged that view until California, Texas and Louisiana began to get fat incomes from lucrative offshore oil leases. Then, belatedly in 1937, the Federal Government staked out its claim to the marginal lands* around the U.S. on the grounds of national interest. When in 1946 Congress passed a bill giving clear title to the states, Harry Truman vetoed it: That...
...Walters bill not only hands back the marginal lands to the seaboard states; it guarantees that any state will have exclusive rights to anything that may be discovered under its navigable lakes and rivers. For Texas, there is a special bonus: Texas will get control of the sea for three leagues (10½ miles) from shore (because the Texas frontier was thus defined when she joined the union in 1845). And another provision grants all seaboard states 37½% of anything the Federal Government manages to dig up beyond the marginal seas-clear to the edge of the broad continental...