Business: Harriman Manganese

William Averell Harriman, U. S. financier who has been cruising about central and eastern Europe the last few years seeking opportunities for investing his money, last week clinched control of all manganese ore mined in the Soviet Union. Two years ago the Soviet gave him a concession to mine manganese, invaluable ore for toughening steel, in the Caucasus Mountains, between the Black and the Caspian Seas. He was to pay the Soviet Government $3 for each ton of manganese mined and to rebuild a railroad from Tiflis to Poti. He had to produce at...

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!