Word: damming
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...professionals for its daring and won the assent of kibitzers for its instinctive rightness. With an open show of sternness, Secretary of State John Foster Dulles advised Egypt's President Gamal Abdel Nasser that the U.S. is no longer interested in building the $1.3 billion Aswan High Dam...
...doing, Dulles indicated to everyone around the board, neutrals, allies and Communists alike, that the U.S. remains unawed by bold Communist boasts of matching the West in economic competition-in particular in the financing and building of the high dam on the Nile. And if neutrals want to dart and barter between the two, this will be a kind of "fearful risk" that they will have to worry about. They can no longer hope to seize the best of both worlds...
Dangling Offer. Seven months ago the U.S. offered Egypt a preliminary $56 million loan to start construction at Aswan. Aided by Britain ($14 million) and the World Bank ($200 million), the U.S. was willing to supply the major part of the capital to finish the mighty three-mile dam. But the offer was left dangling. Nasser, who had mortgaged $200 million worth of cotton not yet planted as barter for Czechoslovakian weapons, occupied himself by recognizing Red China and by planning a trip to Moscow. And when Soviet Minister Dmitri Shepilov visited Cairo last month, Nasser's spokesman whispered...
Such double-trading drew no cry of outrage from the U.S.-and no rush to offer still better terms. Early last week, in the face of this resounding U.S. silence, Egypt's "diplomatic sources" announced that Nasser had decided to let the West build his dam after all. Chubby Ambassador Ahmed Hussein rushed from Cairo to Washington to consummate the deal, emerged sadly from a 50-minute interview with Dulles...
NORTHWEST POWER partnership will get big boost this fall with start of $200 million Rocky Reach Dam on Columbia River. Last obstacle was removed when Puget Sound Power & Light Co. agreed to sell its share of another Columbia River plant to Chelan County Public Utility District in return for half of power from new Rocky Reach Dam. FPC has given Chelan County PUD license to start building 630,000-kw. project as soon as possible...