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...architect's fee of 5% and a builder's fee of 5%, the customary amounts. Since he was able to get an architect for only 1% and was his own builder (thus got the builder's fee), he already had a big chunk of his profit. When he applied for his FHA-insured mortgage, Gross got a surprise: he was told that his estimate on building costs was too low and, at FHA's suggestion, raised them, thus increasing the size of his mortgage. The reason for this, he explained, was that FHA wanted...

Author: /time Magazine | Title: HOUSING: Profits v. Shortage | 7/26/1954 | See Source »

...long. The deal gave them the right to sell half of it back to Robert R. Young's Alleghany Corp. and to Young's crony and financial angel, Allan Kirby, at the same price they had paid: $25 a share. Last week they did sell a big chunk of the stock. Richardson sold 200,000 shares to Kirby, thus repaying the $5,000,000 that Kirby had lent him to buy the stock. Another 300,000 shares, in effect, went to Alleghany Corp. for $7,500,000, the money going to repay a bank loan the Texans...

Author: /time Magazine | Title: RAILROADS: Wheel of a Deal | 7/26/1954 | See Source »

...waging their own war with the censors." Rosenhouse, a native of Chicago and a graduate of U.C.L.A., was first introduced to hotheaded political action in the summer of 1940. He was in Mexico City when a crowd celebrating Independence Day began to riot. A policeman picked up a chunk of ice, heaved " , it into the crowd. The ice struck Rosenhouse on the head, and when he came to, a big Texan was mopping his face...

Author: /time Magazine | Title: A Letter From The Publisher, Jul. 19, 1954 | 7/19/1954 | See Source »

...Practical Joker. Before they met, the town was jolted when a stranger appeared at the Kane County recorder's office. In one hand was a chunk of ore, in the other a Geiger counter. The rock seemed to be super-rich with uranium. One prospector who saw it said: "It made that there jagger counter go nuts!" The stranger excitedly told the recorder where he had found the rock, in a seldom-visited foothill area west of town, the opposite direction from the February strike. He filed his claim for the usual 20 acres...

Author: /time Magazine | Title: CRIME: The Geiger-Counter Murder | 5/31/1954 | See Source »

...under water with mask and air cylinder. Often the bottom of the sea is a desert with nothing to show that man has ever sailed over it, but sometimes an encrusted object looks somehow suspicious to Diolé's well-educated eye. Diolé investigates. He finds a chunk of Carrara marble or a graceful jar that was intended to carry syrupy wine to some homesick outpost near the Pillars of Hercules. Or he finds a forgotten concrete jetty built by Roman engineers to protect the harbor of a busy city that is now a fishing village...

Author: /time Magazine | Title: Science: Diving Diggers | 5/31/1954 | See Source »

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