Word: var
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...Georges Bernanos (297 pp.)-Translated by Louise Varèse-Panfheon Books...
...musty chambers of Lima's venerable Gran Hotel Bolívar, over bourbon-and-sodas, representatives of the world's major oil companies also studied the supposedly secret Curtice plan. They grumbled at proposed royalties that would resemble the prevailing Venezuelan scale of 16⅔%. Such percentages, they said, were fair enough in proven fields like Venezuela, but high for Peru, where exploration costs are probably the highest in the world and where the trans-Andean pipeline to bring oil out to the west coast might cost...
TIME [AUG. 13] IS BLACK HALF OF STORY. HERE IS BRIGHT HALF: FROM DECLARATION OF VAR IN 1914 TO ARMISTICE IN 1918 U.S. COST OF LIVING INDEX ROSE OVER 60%. BUT FROM DECLARATION OF WAR IN 1939 TO V-J DAY PRICE CONTROLS HELD RISING COST OF LIVING INDEX TO 30%. SO FAR WE'VE DONE TWICE AS WELL THIS TIME AGAINST INFLATIONARY PRESSURES MANY TIMES GREATER. BIG CHALLENGE TO AMERICA NOW IS FOR BUSINESS AND CONSUMERS AND GOVERNMENT TO HOLD THE LINE THROUGH TRANSITION PERIOD TO SUSTAINED PROSPERITY. AFTER END OF WORLD WAR ONE COST OF LIVING INDEX...
Died. Paul Valéry, 73, famed French poet and philosopher, successor of Anatole France to the French Academy in 1925; of a heart ailment; in Paris. His infrequent, esoteric works (La Jeune Parque, Le Cimetière Marin, Varétés I, II, III, IV) brought from his distinguished colleagues high acclaim, from lesser intellectuals charges of obscure pomposity, from himself the admission, "I am a difficult author - it is my kind of beauty...
Franklin King, Jr. is the Senior Varsity Manager this year. Helping him are Seniors Tyler Peabody and Richard Jackson, Juniors David Place (Asst. Var.), George Day (Asst. J.V.), and Rufus Walker (Asst. Assoc. Fresh.), and the five Sophomore competitors, David Arnold, Worthy Campbell, Joseph Cummings, Roger Putnam, and William Walker