Word: wiseness
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Dates: during 1950-1959
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...report of the "three wise men"-Canada's Lester Pearson, Italy's Martino, Norway's Halvard Lange-was less ambitious. While arguing broadly that "there cannot be unity in defense and disunity in foreign policy," its recommendations were hedged carefully with a sense of reality. Its chief recommendation: "Member governments should not adopt firm policies or make major political pronouncements on matters which significantly affect the alliance" without advance consultation with the NATO council...
...NATO ministers chorused approval, and Dulles called the report a "careful, scholarly, wise work." But then Dulles offered some reservations. The U.S. has pacts with 44 countries, he pointed out, and only 14 are included in NATO. If, for instance, the Chinese Communists attacked Formosa, the U.S. would be obligated to react without consulting NATO. This seemed to be exactly the argument Britain and France had used after their attack on Suez, but the difference, said Dulles, was that the U.S. had explained its stand on Formosa to NATO well in advance...
...million, put up mostly by C.M. & M., Waterford Oil Co., Riddell Petroleum Corp. and Houston C Financier Bob Smith (TIME, May 2 1954), guaranteed Jackson and Miles 5% of the new venture's gross. In two years Jackson and Miles leased 285,000 acres in the Wise County area, brought in 110 gas wells and 57 oil wells. They had a spectacular average of ten productive wells for every dry hole, and have drilled on only one-seventh of their leased land...
...expiration of its land leases upon which drilling had not started, thus might not have big enough gas potential to satisfy FPC that the yield could supply gas for a long enough period. C.M. & M.'s answer was to throw a $5,000 chicken barbecue last summer for Wise County landowners, and explain in neighborly fashion why the sales of gas on their land was being held up. The disgruntled voices of Wise County were heard all the way to Washington, and last week the FPC granted...
Thanks to Jackson's plugging of his idea, C.M. & M. should make about $150 million out of the gas fields. The landowners of Wise County will pick up about $1,000,000 a year in royalty payments. For their 5% interest, Partners Jackson and Miles will get $200,000 a year apiece for at least the next 20 years...