Word: oilfields
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Mitchell and Stans became the first former Cabinet officials accused of a crime since the Teapot Dome oilfield-leasing scandal of 50 years ago.* They stand charged with being so eager to secure campaign contributions for the reelection of President Nixon that they used their great influence to help a financier, Robert L. Vesco, in his deep troubles with the Government. Then they tried repeatedly to conceal the fact that Vesco had contributed $200,000 in cash to the Nixon re-election committee (see box page...
Died. Winthrop Rockefeller, 60, former Governor of Arkansas and second youngest member of the Rockefeller brotherhood that includes Nelson, Governor of New York, and David, chairman of the Chase Manhattan Bank; of cancer; in Palm Springs, Calif. A Yale dropout, Rockefeller was an oilfield roustabout and Army infantryman before settling down after World War II to tend to his share of the family fortunes-and to New York cafe society. When his first marriage to former Showgirl Barbara ("Bobo") Sears went awry in the early '50s, he left New York for the Arkansas hills, built a ranch and gradually...
...poor Texas farmer, Mize dropped out of the University of Houston and went to work as a bench hand for an oil-exploration company. He moved up to become a salesman and then climbed through a succession of corporate jobs to become president of Mandrel Industries, an oilfield-equipment manufacturer. Naturally, he bought some stock in Mandrel and, when the company was sold in 1963, he had a bankroll...
More ominously, the situation may strain an already uneasy truce between Baghdad and the dissident Kurds of the north, who claim ownership of the Kirkuk oilfield, which has been shut down ever since it was nationalized. "If there is to be a stoppage of national development, you can be sure the Kurds will be the first to feel it," said Dara Towfik, editor of the Baghdad-based Kurdish paper Al Ta'Khee, last week. Besides complaining that they have been shortchanged on development funds, Kurds feel that Baghdad has cheated on the terms of their truce. Kurd Leader Mustafa...
...more that must report price and profit data. The commission ordered more rollbacks involving major companies, though relatively minor products. Textron Inc., for example, must rescind a price increase on snowmobiles, and Armco Steel will have to cancel hikes on such merchandise as soap and hammers sold in its oilfield supply stores, which account for less than 1% of Armco's sales. Both companies were also ordered to refund money to customers who were charged the higher prices. Associated Wholesale Grocers, which has sales of $240 million a year, became the second company to be assessed triple damages...