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April 7-12, 1922, Secretary Fall leased Naval Reserve No. 3 (Teapot Dome) to Harry Ford Sinclair, who turned it over to the Mammoth Oil Co. in exchange for $106,000,000 of stock...

Author: /time Magazine | Title: A Stench | 2/4/1924 | See Source »

...Senate was incited to look into the oil lease matter by the terms of the Teapot Dome lease, some Senators charging that the return to the Government was inadequate. The Government gets a royalty of about 17% on the oil extracted. The oil is refined, delivered to seaboard and placed in tanks built by the Sinclair interests, but belonging to the Navy. For these services the Government yields about two-thirds of its royalty oil to the oil company, so that assuming that there are about 26,000,000 barrels of oil in Teapot Dome, the Government will receive about...

Author: /time Magazine | Title: A Stench | 2/4/1924 | See Source »

Without warning, while Congressmen were rubbing their hands and shaking in their boots because of the Teapot Dome investigation, they were suddenly confronted by a special message from the President. The message dealt with the farm situation in the Northwest, diagnosing the case and suggesting remedies...

Author: /time Magazine | Title: FARMERS: Special Delivery | 2/4/1924 | See Source »

...result of the Teapot Dome oil scandal, only a Republican who has not been connected in any way with the present Administration in Washington during the past three years and who is also well qualified for the office can be elected to the Presidency at the elections this Fall is the belief of the Hiram W. Johnson for President Club of Harvard in a statement issued yesterday by its President, G. E. Brown 2L. "Regardless of whether Secretaries Daugherty, Denby and Fall are vindicated," the message says, "the fact is that the Administration has discarded that policy of conservation...

Author: NO WRITER ATTRIBUTED | Title: JOHNSON CLUB JOINS TEAPOT DOME POLITICAL CONTROVERSY | 2/4/1924 | See Source »

Amid all the gloomy smoke and fire which the Teapot Dome Scandal has spread over the national Congress, it must be refreshing to have there the naivete of a Magnus Johnson. Although the reports of his milking contests have of late simmered into quietude, the Senator from Minnesota has by no means yet emptied his bag of tricks. The latest is an excursion to the Senate press gallery to challenge a home-state newspaper correspondant to a verbal duel. If all Minnesota citizens are as frank and as earnest as their radical senator, the roof of the Capital Building would...

Author: NO WRITER ATTRIBUTED | Title: STORMS WITHIN STORMS | 2/4/1924 | See Source »

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