The Hemisphere: Trans-Canada Sale

A quiet, young (43), round-faced Alberta oil millionaire last week became the largest single stockholder in Trans-Canada Pipe Lines Ltd., the vast and controversial enterprise that will bring Western gas to Eastern Canada. In Manhattan, Calgary Oilman Robert Arthur Brown Jr. bought the last of Tennessee Gas Transmission Co.'s Trans-Canada holdings, giving his fast-rising Home Oil Co. Ltd. a 12% holding in Trans-Canada (v. Texas Oilman Clint Murchison's 8%. and British American Oil's 5%). By buying out Tennessee at upwards of $25 a share, Bobby Brown replaced Tennessee's President Gardiner Symonds as the dominant figure in Trans-Canada.

Brown was known to be...

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