Word: virginians
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decided to build a Class I railroad out of his own pocket, which was exceedingly well lined with Standard Oil millions. Right through the Panic of 1907 he continued to sink those millions into what is now the Virginian Railway, a 600-mi. line running from deep water at Hampton Roads, Va. through the Pocahontas and New River coal fields to West Deepwater, W. Va. It cost Oilman Rogers between $30,000,000 and $40,000,000 and was one of the few railroads financed entirely...
...brusque Arkansan named M. Frank Yount and a florid West Virginian named Thomas Peter Lee started Yount-Lee Oil Co. at Beaumont, Tex. On an original capital of $50,000 they spent 13 years drilling in Texas and Louisiana without spectacular success. Then suddenly, in 1926, Yount-Lee made national news by rediscovering the famed Spindletop Field near Beaumont. Everybody supposed that Spindletop had been drained dry. Yount-Lee opened a rich new producing sand by drilling deeper than anybody had had the courage to go before. Later the company discovered and developed the High Island Field in Galveston County...
...last week (see above), two Virginia farmers and an Idaho philosopher in the Senate were crippling at birth the bigger & better AAA conceived in the AAAmendments. Bee Control. Senator Carter Glass withered one amendment with ridicule. Among numerous commodities to be controlled and prorated, the spunky little Virginian last fortnight discovered queen bees. Bobbing up in the Senate, he rasped from the side of his mouth: "I note here that it is proposed to confer upon the Secretary of Agriculture the right to bring about birth control among bees. ... I have a good many bees. I do not know...
Last week the New Deal was to be seen standing with Carter Glass instead of Carter Glass against the New Deal. This remarkable conjunction occurred on an omnibus banking bill which the Virginian and a Senate Banking & Currency sub-committee spent more than two months working over. When the measure was unanimously reported to the Senate last week, all hands agreed that a neat job of compromise had been executed on the ticklish issue of centralizing the U. S. Banking System under White House (i. e. political) control. The Senate bill will centralize bank credit but not under direct political...
Born amid suspicion, confusion and recrimination, the Banking Bill seemed headed for heavy weather. Although Governor Eccles had promised to confer with Senator Glass on new legislation, the Banking Bill was inadvertently cleared by the White House before the testy little Virginian saw a copy. Moreover, the Eccles Bill proposed to change the whole theory of the Federal Reserve Act, toward which, as its jealous father, Carter Glass had a distinctly possessive attitude. If there really was a Glass-Eccles feud, as some newspapers made out, the Banking Bill promised fireworks...