Word: holman
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Dates: during 1940-1949
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Before a joint committee looking into the whole field of U.S. investments, appeared Eugene Holman, president of Standard Oil Co. (N.J.). How did he think U.S. capital could be lured abroad? The net of Oilman Holman's forthright reply was that the real job could not be done by the U.S.; it had to be done by other nations. Before U.S. investors would loosen up, he said, high taxes, foreign currency restrictions and other controls would have to be eased...
Jersey Standard and its subsidiary in Britain, said Holman, are now spending $150 million to expand the refineries there. But before they started, they got an assurance from the Labor government that it did not intend to nationalize the oil industry...
Nevertheless, said Holman, "as members of an industry that provided four-fifths of the private investment made by American interests abroad last year-totaling $1.5 billion-we are disturbed by the worsening of the investment climate in many countries." Holman thought that Point Four was certainly a fine idea-if it could be made to work. So did the U.S. Chamber of Commerce. This week it gave qualified support to the program-provided that the nations receiving the aid sign treaties "assuring fair treatment of American capital...
...production to meet the gargantuan demand, industry had expanded its plants to the tune of $18.7 billion during the year. Much of the expansion had been bought with profits and reserves, because there was a grave shortage of risk capital to finance it. As Jersey Standard's Gene Holman said: "Without our high profits we couldn't have expanded the way we did." The oil industry, which had rolled up the "biggest profits of any industry ($2 billion), was a classic example of the way profits had been put to work...
Also on the group are Charles E. Wilson, Frank E. Holman, Gen. Mark Clark, and Col. Clarence E. Barnes...