Word: tankerous
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Dates: during 1950-1959
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Millimeter by millimeter, like a small bug on a windowpane, the Finnish tanker Aruba crawled along the charted sea lanes. The world paid little attention as she made her way down from the Rumanian port of Constanta to the Mediterranean and eastward toward Port Said. Then, three weeks ago, like hundreds of other vessels that pass through the Suez Canal, the 10,000-ton Aruba was forced to declare her cargo and destination. It proved to be 13,000 tons of high-grade kerosene consigned to Red China, enough jet plane fuel to carry Communist airmen on an estimated...
Boeing's President William McPherson Allen flew into Seattle from Washington last week with a big smile on his face and a bigger contract in his pocket. Boeing had won the Air Force competition for jet tankers over both Douglas and Lockheed. Prize: a $460 million contract for a "substantial" number (more than 200) of KC-135s, the modified version of Boeing's 707 prototype jet transport (TIME, March 8, 1954). For Lockheed, there was a consolation prize consisting of a development contract for an "advanced" type of tanker...
...contract, along with the KC-135s already on order, brings Boeing's total jet-tanker commitments to $700 million. Except for Lockheed's 6-47 production at its Marietta plant, the contract makes Boeing virtually the sole supplier of medium (B-47, KC-97 tankers) and heavy (B-52) planes for the Air Force. It was also good news for United Aircraft Corp., which will supply some $180 million worth of J57 Pratt & Whitney engines for the tankers, and for some 8,000 Boeing suppliers. For Boeing, it assures high-level production into 1958-and another big step...
...Assistant Secretary of State under the late Edward Stettinius in 1944, Holmes quit the next year, took a vice-presidency of T.W.A., and then the presidency of TACA Airways. He joined ex-Congressman Joe Casey, T.W.A.'s general counsel, in a scheme to buy surplus Government tankers, brought in ex-Boss Stettinius, who, in turn, brought in Fleet Admiral William ("Bull") Halsey. The tanker deals made over $3,000,000 on a $100,000 investment, and before long became the subject of a congressional investigation (TIME, March...
...indicted, along with Casey, 16 other associates and seven Casey corporations for illegally selling the ships to foreigners. Four of the companies paid fines, but the charges against Diplomat Holmes and other individuals were dropped. The State Department in effect has cleared Holmes of any taint in the tanker deal...