Word: anglo
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Item: Greatest situation of strength of all is in the Anglo-American alliance. This endures but it does not advance. At the moment, it is beset by suspicion and recriminations on both sides of the Atlantic. The British hang back because they cannot see just what, if anything, the Americans are trying...
Abrupt Hike. For many years, Iran's royalties from Anglo-Iranian made up at least one-sixth to one-fifth of the government's annual revenues. But as the company's prosperity grew, so did Iran's insistence that it get a larger slice of the profits. Late in 1932, the Iranian government tore up the original agreement and forced Anglo-Iranian to hike royalties and hitch them to the size of the stockholders' dividends. In return, it extended the concession...
...Stafford Cripps, then Chancellor of the Exchequer, asked British companies to hold down dividends to combat inflation. Since his order would cut sharply into Iran's royalties, Anglo-Iranian, looking for a justified protest from Teheran, quickly offered to revise the 1933 agreement. Razor-sharp Board Chairman Sir William Eraser, a grey, gaunt Scot who runs his own show, journeyed to Teheran, and a compromise was reached in July 1949. It provided for raising Iran's oil revenues sharply. For example, under the new terms, Iran's 1948 royalties would amount to ?18,700,000, compared...
...compromise was certainly a break for Iran. It was also an admission that Anglo-Iranian's old rate had been too low. Majlis (Parliament) members, who had always claimed the foreign company was cheating Iran, reacted violently. The fury of the Majlis' opposition brought forth the new reform government of Premier Ali Razmara, Iran's hardest-working, most honest regime in years. Last week, with defeat inevitable, the Razmara government prudently withdrew the Anglo-Iranian Oil proposal without waiting for a vote...
...years ago, a group of U.S. experts, Overseas Consultants, Inc., surveyed Iran's resources and development needs. In 1949, the Majlis set aside all oil revenues to pay for the seven-year development plan drawn up by Overseas Consultants, Inc. (TIME, Oct. 24, 1949). Now, the Iran-Anglo-Iranian deadlock meant no money, no development. Meanwhile, the need for the plan had grown: Iran was reeling from crop failures, business was stagnant, half a million were unemployed...