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The dispute between Britain and the Soviet Union had been unresolved for 68 years. The subject: bonds issued by the Czar before the Bolshevik revolution of 1917. Soon after the Communists took power, they repudiated the debt, including bonds with a face value of $75 million that were held by...

Author: /time Magazine | Title: Debts: From Russia with Interest | 7/28/1986 | See Source »

Last week the two countries finally settled their differences. The agreement basically calls for both sides to waive the claims they hold against each other. As part of the deal, Britain will be able to distribute the $68 million in Soviet funds, which have been frozen in British bank accounts...

Author: /time Magazine | Title: Debts: From Russia with Interest | 7/28/1986 | See Source »

What makes the World Bank unique is its hard-nosed financing concept. The bank is jointly owned by 150 countries that have contributed $3.2 billion to its capital (including $1.1 billion from the U.S.). But the bulk of the World Bank's $66.8 billion in capital comes from private investors...

Author: /time Magazine | Title: Easing into an Era | 7/14/1986 | See Source »

The 63-count indictment alleges that between September 1982 and July 1985 Cantley and five of his accomplices, including Joseph Vito Mastronardo Jr., the son-in-law of former Philadelphia Mayor Frank Rizzo, operated a $1 million-a-week, five-state gambling ring. They hid their profits, the indictment states...

Author: /time Magazine | Title: Washday Blues: Scandal Strikes Shearson | 7/7/1986 | See Source »

To American dairy farmers, U.S. agricultural policy makes no sense these days. At a time when the Government is paying farmers about $2 billion a year to buy up surplus milk, Masstock International, an Irish dairy company, is receiving a federal tax break to construct a large dairy plant in...

Author: /time Magazine | Title: Government: New Faces At the Fed; Business Notes Hotels Holiday Inn Himalaya-Style | 5/26/1986 | See Source »

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