Word: spencers
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Dates: during 1950-1959
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Sinclair, announced Spencer, will open the facilities of its huge Harvey, Ill. research laboratory to any U.S. inventor with a promising idea in the field of petroleum. The company will test such ideas free of charge, and if the results justify it, provide the technicians and money for research to push them to completion. In return, the inventor will be required to let Sinclair use the process royalty-free, but since the inventor holds the patent, he may also sell it to anybody else. The news was hardly out before scores of ideas began flooding Sinclair's Manhattan offices...
...Percy C. Spencer, an ex-Wyoming ranch hand turned lawyer who stepped into Harry Sinclair's shoes, soon had the company prancing like a yearling bronco. Spencer had been the company's general counsel since 1943; he was no expert on production, but he knew how to organize it. He launched Sinclair on a five-year $250 million expansion, picked up some 2,000,000 acres of unproved oil leases, started a big drilling program. To make its 13,500-mile pipeline network even bigger, he put the company to work this year on a new 700-mile...
...Spencer's rejuvenation paid off. Sinclair's crude oil production has risen 25%. Earnings last year climbed from $54 million in 1949 to $70.1 million, and are still climbing. In 1951's first quarter, they reached $18.3 million, $5,000,000 more than in the same quarter last year. Sinclair stock, which had dropped to 18⅞ the year Spencer took over, has shot up to 39, the highest point since...
...Spence" Spencer still has his eye on the future. Last week when he gave a luncheon to announce his latest stake in it, some of Wall Street's most potent bankers attended: Chase National's Winthrop Aldrich, J. P. Morgan's Henry C. Alexander, National City's Howard C. Shepherd. So did a New Dealer, Senator Joseph C. O'Mahoney, a friend of Spencer's Wyoming days. Spencer's news made both bankers and New Dealer applaud...
...summary: Rauh (H) defeated Cullen, 6-2, 6-2; Mann (H) defeated Gardner, 6-4, 6-2; Spencer (H) defeated Gottlieb, 6-3, 6-2; Fischer (D) defeated Carolla, 6-0, 5-7, 6-4; Bossart (H) defeated Steere, 6-1, 4-6, 6-2; Goodman (H) defeated Von Storch, 6-0, 6-3. In doubles: Rauh and Stone (H) defeated Fischer and Gottlieb, 1-6, 6-3, 8-6; Bossart and Spencer (H) defeated Cullen and Steere, 6-4, 7-5; and Carollo and Ward (H) defeated Gardner and Von Storch...