THE LEAGUE: Benes or Bagfuls?

At the Shah of Persia, dynamic, self-made Reza Pahlevi, onetime Cossack trooper, Britain last year hurled an oily ultimatum.

The British Government are controlling shareholders of Anglo-Persian Oil Co. Ltd., which had a concession to exploit Persia's oil fields. Dissatisfied with the royalties Persia was getting, her Shah canceled the concession (TIME, Dec. 12). The British ultimatum gave the Shah until Dec. 15 to reinstate it.

'"Does this mean," cried white-haired British Labor Party Leader George Lansbury in the House of Commons, ''that if certain contingencies arise the British Government proposes to take...

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