Word: sinco
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Died. Harry Ford ("Sinco") Sinclair, 80, poker-faced onetime Kansas pharmacist who parlayed $5,000 in insurance money (awarded after he shot off a toe while rabbit-hunting) into a successful string of wildcat oil wells, lost a wad (1914-15) trying to establish a third major baseball league, by 1916 founded the Sinclair Oil & Refining Co., bought a string of racehorses (his Zev won the 1923 Kentucky Derby), in 1922 leased the Navy's Teapot Dome oil reserve in Wyoming from Interior Secretary Albert B. Fall; in Pasadena, Calif. Buoyant Harry Sinclair survived when Teapot Dome blew...
...Their Knees. Some of them had a pretty exciting time. The crew of the Sinclair Refining Co.'s 17,229-ton tanker Sinco spent three wild days keeping their vessel afloat after sea water accidentally flooded her hull and stopped her engines off the stormy Carolina capes. A tug finally towed the foundering vessel safely into Charleston, S.C., where the crew knelt thankfully on her deck-and shot craps until the cook got a hot meal together...
Last week, shrewd, poker-faced Harry Ford ("Sinco") Sinclair, 69, President of Sinclair Oil Corp., grabbed it. From Haile Selassie he got a 50-year concession giving him exclusive rights to all the oil he can find in all of Ethiopia's 350,000 square miles...
Actually, the deal was very much an if, as & when proposition. No oil has ever been discovered in Ethiopia, although oil men have a strong feeling that important pools may exist there. But for jowly Sinco, who loves to bet on anything, it was a good gamble. By putting up small stakes, he stands to collect handsomely if Ethiopia has oil. In any case, oilmen guessed that Sinco has his eyes on Ethiopia's potentially oil-rich neighbor, Eritrea, which Haile Selassie covets...
...laugh would be on Sinco, if the price of Sinclair stock should fall drastically. (Two years ago it sold for $5.) But with Sinclair Corp. booming, there seemed little chance of that. At week's end Sinclair stock was up to $13.75. Thus, in three days Harry Sinclair had made a paper profit of $75,000-taxable up to only 25% if held for six months...