Business: TIME CLOCK, Feb. 1, 1954

IRAN is moving closer to settlement of its oil problem. Famed Oilman Torkild ("Cap") Richer (TIME, April 20) has been hired as Iran's official adviser on oil matters and is expected to work out a deal between Iran and Anglo-Iranian Oil Co. that will permit a combine of oil companies to market Iran's oil.

JOHN L. Lewis' miners are being sharply reminded of how they have priced coal out of many markets. Pension and other benefits are being cut heavily because of lagging coal production (down 26% in the anthracite fields). Anthracite miners will...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!