Word: mccabe
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Dates: during 1950-1959
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...site of the earth-power plant will be a hot spot near Healdsburg, 60 miles north of San Francisco, where hot springs and fumaroles abound. President Barkman C. McCabe of Magma Power thinks that a crack in the earth's crust allowed magma from the earth's hot interior to rise fairly near the surface. Magma is uneasy stuff, an intensely hot solution of steam and other gases in melted rock. When it bursts out in large quantities, it builds a volcano. When it does not quite break loose, it creates a geothermal area like the place near...
Part of the water in the steam, says McCabe, is "juvenile water" which comes out of the magma or the rock around it. The rest is rain water that seeps into the ground and turns to steam when it reaches hot rock. The steam contains less than 1% of noncondensable gases, mostly carbon dioxide, and no corrosive minerals. For the time being, Pacific Gas & Electric Co. will be content with a 12,500-kw. generator, but much more steam may be available. Wells drilled 30 years ago and abandoned as uneconomic have been spouting steam ever since with no loss...
...Government spendings. But present tax cut proposals are "dishonest" because they involve bigger Government deficits. Humphrey's formula for curing the recession: "Keep your shirt on." Against this view, Fred Lazarus Jr., chairman of Federated Department Stores, argued for a tax cut to stimulate consumer buying now. Thomas McCabe, president of Scott Paper Co. and onetime Federal Reserve chairman, urged Government leaders to "turn on the juice" by authorizing a tax cut when it is needed...
...enough to go out every morning and fight the bigger (circ. 2,083,972), richer, lustier New York Daily News, Hearst's New York Mirror (circ. 876,938) loves boys and girls. In what he called a "partial listing," Mirror Publisher Charles B. McCabe took a full-page ad in the rival New York Times last week to reel off some of the activities that engage the Mirror when it is not looking for news: art in the public schools, basketball tournaments, Boy Scout awards, Children's Day, Christmas carol singing, folk-dance festival, golf tournament, handball tournament...
...Stooge. Nevertheless, in 1951, when he was first appointed FRB chairman by Harry Truman, succeeding Thomas (Scot-tissue) McCabe, who resigned in midterm, Martin had a hard time convincing fellow Democrats at Senate confirmation hearings that he would not allow the FRB to be dominated by his longtime friend John Snyder. Martin's clincher: "I'm not going to be a stooge for Snyder. I have too much respect...