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...scented a new bonanza. He paid Iran's Shah $20,000 for a 60-year monopoly on oil production in five-sixths of Iran, promised him an additional 16% of the profits. Seven years later, D'Arcy's prospectors brought in a gusher. In 1909, the Anglo-Persian Oil Co. (renamed Anglo-Iranian in 1935) was founded, has been spouting profits ever since. It built the world's largest refinery at Abadan, became a top-ranking crude-oil producer. It also fell more & more into disfavor with the Iranian government. By last week the company...

Author: /time Magazine | Title: IRAN: Troubled Oil | 1/8/1951 | See Source »

Almost from the start, Anglo-Iranian played an important strategic and political role. In 1914, the British government bought into Anglo-Iranian to assure its navy an oil supply. Today Britain controls 52.55% of the voting stock. With U.S. encouragement, postwar Europe has become increasingly dependent on Middle East oil; it now gets about 70% of its oil from east of Suez, of which about a third is Anglo-Iranian. A friendly relationship between Iran and Anglo-Iranian Oil Co., assuring continued operation, is thus as important to Washington and Paris diplomatic and defense chiefs as it is to Anglo...

Author: /time Magazine | Title: IRAN: Troubled Oil | 1/8/1951 | See Source »

General Wu solemnly read a farewell statement to the press. First, he wished "the American people . . . a merry Christmas and a happy New Year." Then he denounced "Anglo-American ruling circles" for aggression, etc., and for proposing a cease-fire in Korea that was "nothing but a trickery and a plot." Otherwise, the Red Chinese smiled, waved and comported themselves like a company of bourgeois tourists...

Author: /time Magazine | Title: UNITED NATIONS: Like an Easter Parade | 1/1/1951 | See Source »

...blow into them from the back must come out in front like notes from a flute." Shortly before Perscheid fled, Lange dictated a new and harsher charge sheet, threatened that "the judge who doesn't rule the way we want will be arrested in court as an Anglo-American agent...

Author: /time Magazine | Title: Foreign News: Like Notes from a Flute | 12/18/1950 | See Source »

...Argentina, as in some other Latin American countries, there are no trials in the Anglo-Saxon sense of the term. The judge sends his secretaries to take testimony from the defense and prosecution, makes his decision-in writing- after studying the written depositions...

Author: /time Magazine | Title: ARGENTINA: A Matter of Respect | 12/4/1950 | See Source »

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