Word: oil
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Dates: during 1950-1959
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Ever since tear-spouting Premier Mohammed Mossadegh brought his country close to economic ruin in 1951 by nationalizing its oil industry,* Iran has been trying to import as much foreign money and knowledge as possible. Thanks to the Western-minded Shah, Iranian law now offers solid safeguards to foreign investors. The question, after what happened in neighboring Iraq, is whether the politically discontent will wait for long-range economic benefits. Wall Street is making an impressive bet on Iran's peaceful future...
...Kentucky farm of A. B. ("Bull'') Hancock, Round Table was running as a three-year-old in 1957 when he caught the fancy of his present owner. A younger brother of Oklahoma's Senator Robert Kerr, with the same family paunch and financial punch (oil, uranium), Travis Kerr, 56, suspected that Round Table might become the great horse he needed for the mildly successful stable he started in 1949. When Hancock asked for $175,000, Kerr sent Veterinarian John Peters and Trainer Molter to Hialeah, where Round Table was running, to see if the price was right...
...painting that is not only a masterful work of art but also a fascinating footnote to an old mystery goes on display this week in Richmond's Virginia Museum of Fine Arts. It is Peter Paul Rubens' 10|½-in.-by-15-in. oil sketch for his Pallas and Arachne. The finished painting is long lost, and presumably destroyed-but still to be seen in a copy made three centuries ago by the Spanish painter Velàsquez...
Pallas and Arachne disappeared after the Archduke Charles of Austria sacked the Torre de la Parada in 1710. But Rubens' oil sketches, delivered to Philip with the finished works, were bequeathed to a worthy duke and survived in various Spanish and Belgian art collections. Virginia's Director Leslie Cheek Jr. got his Rubens from a Manhattan art dealer...
Tougher Steel. An alloy sheet steel that hardens in air instead of the usual salt or oil quenching baths and is six times tougher than automobile body metal was announced by U.S. Steel. Named Airsteel X-200, the steel was designed for rockets and missiles. It can be formed, welded, heated and cooled with less danger of distortion-producing stresses...