Word: tracts
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...young but spirited varsity tract team opens its winter season tonight at 1:45 in Briggs Cage against powerful Boston University. Last year B.U. defeated the Crimson...
KERR-McGEE OIL INDUSTRIES, which bid $15 million for a tract of Government-owned oil lands off the Louisiana coast and then discovered that it had made a mistake in the tract numbers (TIME, Nov. 8, 1954), will not be held to its contract. The Government has accepted the argument that a bid containing an obvious error does not constitute a binding contract, will give the company back its $2,900,000 deposit...
WILLIAM E. BOEING, founder of Boeing Airplane Co. (TIME, July 19), who retired in 1934 to devote all his time to his lumber business, has just closed one of the Northwest's biggest timber deals. For $13 million, Boeing has sold his 23,000-acre tract (1 billion bd. ft.) of fir along the Oregon coast to Georgia-Pacific Plywood...
When the Interior Department opened sealed bids on some Louisiana offshore oil land last month, a peculiar fact turned up. On one tract, Kerr-McGee Industries, Inc. submitted the only bid-a whopping $4,000,000; on several other tracts it was also completely unopposed by such offshore bidders as Shell, Gulf and Continental Oil. The worried giants hastily rechecked their geologic studies. Did Kerr-McGee, headed by Oklahoma's Democratic Senator Robert S. Kerr and Oilman Dean McGee, have some special information on the land? Not at all. In Washington last week, Kerr-McGee was desperately trying...
...Dean McGee told the story, his company had spent $400,000 in seismographic surveys of the areas to be leased. McGee himself figured out the bids, jotting down identification numbers of the land he wanted. In most federal land auctions the land is divided into tracts, and the only numbers that bidders have to worry about are tract numbers. But this time, as Kerr-McGee and all other bidders had been informed, land was divided into blocks, which were then subdivided into tracts. McGee copied down the block numbers instead of the tract numbers, and these were submitted...