Word: kelleyism
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Dates: during 1930-1930
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What makes copper unique is the manner in which its control rests in the hands of a few men. Fortnight ago these men met in Manhattan. Leading U. S. representative was Cornelius Francis Kelley, president of Anaconda Copper Mining Co. and Copper Exporters, Inc., chairman of Copper Institute and spokesman for 25 big U. S. producers. From Belgium there had come M. Fernand Pisart, managing director of the Societe Generale des Minerals, Belgian outlet for the Katanga Mines in the Belgian Congo, and his associate, Camille Gutt...
Question of Value. The substance of the Kelley charges in the World was that Secretary Wilbur and his predecessor, Dr. Hubert Work, had, by a series of rulings made under political pressure, allowed shale oil lands in Colorado to be transferred from the public domain to private oil companies (TIME, Oct. 6 et seq.). Mr. Kelley, longtime Denver field chief of the General Land Office, argued that these lands contained oil worth 40 billion dollars. The Attorney General and the President retorted that "these oil shale lands have little present value" because no commercial method has yet been developed...
...whom such inquiry would surely be referred is Edward C. Finney, now the Department's solicitor, formerly (1921-29) Assistant Secretary, the man who saw nothing wrong when the Elk Hills and Teapot Dome scandals were in the making, the man most directly attacked by the Kelley charges. In 1928, Mr. Finney wrote the basic decision which Kelley protested as nullifying the "discovery" provision of the old mining laws and thereby validating countless paper claims of oil companies to shale lands. Mr. Finney was accused of brushing aside as "very embarrassing" certain geological evidence brought him by Chief Kelley...
Assistant Attorney General Seth Richardson, who investigated the Kelley charges, found that many of Mr. Finney's oil decisions were "debatable," "close" or "susceptible of decision either way." But he could discover no "misconduct or wrongdoing" in any of them...
Upshot of the President's outburst was that the World, which paid $12,000 for the Kelley articles, seemed surer than ever to get what it professed to desire most-a Congressional investigation of the whole matter...