Word: shell
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Dates: during 1950-1959
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...which permits 27½% of income from producing wells to be plowed back before taxes are computed, thus giving oilmen a tax edge over most other industries. As a result, in two years the stocks of some of the biggest & soundest U.S. companies (Standard of Indiana, Socony, Texas Co., Shell, etc.) have more than doubled in value, while riskier Canadian "penny" oil stocks have made incredible climbs (one stock rose 4,700%, from 23? to $11.25). Many a wary trader thinks the speculation in stocks has gone too far. But, while almost every other industry is worried about its sales...
...Bismarck, N.D., where dozens of oil companies have now set up offices, April saw the biggest gain in business (12%) of any city in the U.S. Nobody yet knows how vast the basin's oil pools may be, but Amerada, Shell, Texaco and others have already brought in wells as far as 115 miles apart. Since oil has also been found across the Canadian border in Saskatchewan, oilmen suspect that the Williston pool extends there, think they may find fields rivaling Alberta's great Leduc and Redwater fields...
...Substitutes. Along with the new fields, the industry's greater knowledge and growing technology have enabled it to get still more production out of oil fields. Some, like California's Ventura, had been thought exhausted. Shell has proved up new reserves by drilling its old Ventura wells deeper. Oilmen are now drilling through the bottom of old wells in South Texas, looking for deeper pay sands. Use of gravity-meters and perfected seismograph techniques now enable prospectors to pinpoint formations which could contain oil. But to find out whether oil is there, no substitute has been found...
...House, captain of the varsity, presented Haines with a miniature shell in his honor. At the E.A.R.C. regatta at Princeton, Haines had also received an honorary plaque, as a gesture of admiration from the Crew Coaches Organization of America...
...first race was held on August 3 at 6 p.m., 100 years ago over the two-mile course on the same lake. The Crimson, which entered only one shell, beat the Elis, although Yale had two shells competing. The race was held before a holiday crowd including Franklin Pierce, then a presidential nominee...