Time Clock, Jul. 18, 1960

WAR AGAINST RED OIL will be waged by Western oil companies to prevent Russian crude from entering their markets. Three companies (Shell, Standard Vacuum, Caltex) told India they will not refine Russian crude oil sold to Indian government. Standard Oil Co. (N.J.) warned owners and tanker brokers, in effect, it will not do business now or in future with anybody who charters or sells tankers to the Soviet Union or its satellites.

DIVIDEND INCREASES by U.S. corporations in June were less than year ago, even though more companies increased dividends in first half than last year, reported Standard & Poor's Corp. Outlook:...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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