The Hemisphere: Big-League Deal

The biggest individual fortune yet made in Alberta oil grew bigger last week. Eric Lafferty Harvie, 63, a Calgary lawyer whose oil earnings to date are estimated at more than $120 million, sold control of his Western Leaseholds Ltd. for an undisclosed price. The buyer was Compagnie Financière Beige des Petroles (Petrofina), a Belgian company with worldwide holdings which is rapidly building and buying its way into a top position in Canada.

Petrofina did not move into Canada until 1950, after Alberta's oil boom was well under way. Since then the company has spent millions to build refineries and filling stations,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!