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...postwar Britain, the "terrible twins," waxing plump and still bachelors, were made air vice-marshals.* David took his jet fighter squadron to Suez to guard the Empire's lifeline; Dick took charge of the air defense of Britain's Midland counties. Last week Air Vice-Marshal David, now 48, climbed in his Meteor jet and took off for Cyprus, about 300 miles away. Somewhere in the airforce-blue waters of the peaceful Mediterranean, he crashed and drowned, leaving Air Vice-Marshal Dick to go it alone...

Author: /time Magazine | Title: Foreign News: And Then There Was One | 6/16/1952 | See Source »

Even in oil-rich West Texas, the area around Midland (pop. 34,256) had once given up hopes for oil. The land had been drilled repeatedly without luck. In 1943, Seaboard Oil found a promising rock formation, but no oil, on Abner Spraberry's farm. Not until 1948 did Wildcatter Arthur ("Tex") Harvey discover that the "Spraberry Trend," as the formation was named, was full of oil, though imprisoned in the fine-grained, hard-packed sands. Then, the new techniques of the industry came into play: soap & kerosene, pumped into the sandstone under tremendous pressure, loosened it enough...

Author: /time Magazine | Title: OIL: The Biggest Treasure Hunt | 6/2/1952 | See Source »

Railroader Robert R. Young, who likes to inveigh against the "goddam bankers," this week became one himself. Through three of his corporations, Young bought a controlling interest in the Marine Midland Corp., whose 14 banks and 113 branches, spread all over New York State, serve more than 500,000 depositors. He has been buying up stock for the past 18 months and last week owned 508,100 shares of common worth about $5,600,000, or 9½% of the bank's total common stock, and 11,220 shares of preferred (current price: about $56). Young says he intends...

Author: /time Magazine | Title: BANKING: Joining the Enemy | 3/31/1952 | See Source »

...Leverett House; Gim P. Fong, of Newton; Calver C. Groton, of Westerley, Rhode-Island and Lowell House; John B. Manning, of Worcester and Winthrop House; Ira H. Peterman, of Yonkers, New York and Dunster House; Costas C. Rodis, of Nashua, New Hampshire and Kirkland House; Ralph F. Scalera, of Midland, Pennsylvania and Winthrop House; and Robert L. Wiley, of St. Paul, Wisconsin and Lowell House...

Author: NO WRITER ATTRIBUTED | Title: Wylie Tops Field of 30 in Election Of Class Day Committee Members | 3/22/1952 | See Source »

...estate near South Queensferry, Scotland. An old-fashioned peer who believed that the aristocracy has responsibilities as well as privileges, Lord Linlithgow distinguished himself as a soldier (commander of a Royal Scots battalion in World War I), politician (deputy chairman of Scotland's Conservative Party), businessman (chairman of Midland Bank) and educator (Chancellor of Edinburgh University). As Viceroy of India, he faced with frosty courage his double troubles of constitutional changes and organizing the country for war: he jailed Gandhi and Nehru, suspended the constitution he had helped bring to India, organized an army of 2,000,000, administered...

Author: /time Magazine | Title: Milestones, Jan. 14, 1952 | 1/14/1952 | See Source »

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