GREAT BRITAIN: Shouts & Second Thoughts

THE BIG SELLOUT . . . THE FULL EXPOSURE OF BRITAIN'S PERIL. So read the headlines in the London Daily Express, run by crusty old (77) Lord Beaverbrook, last of the imperialists. And what was the Express so vexed about—Cyprus, Singapore, Suez? No, the deadly peril to Empire, the "mortifying and shameful act of surrender" was the British Cabinet's decision to permit The Texas Co. to buy the British-owned Trinidad Oil Co.

In London financial circles the sale terms were regarded as highly favorable to Britain. Texaco would pay Britain in badly needed...

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