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...recently signed an agreement with Lisbon promising it nearly $500 million worth of aid, part of which is in military supplies." This refers to the agreement in connection with the extension of American basing rights in the Azores. What we did was to offer the loan of a research vessel, a grant of $1,000,000 for education, $5,000,000 in nonmilitary surplus equipment, and PL-480 credits of $30 million for the export of surplus agricultural commodities. Export-Import Bank financing may also be available. The $400 million figure frequently mentioned in this connection relates only to projects...

Author: /time Magazine | Title: Letters, Apr. 3, 1972 | 4/3/1972 | See Source »

...improper influence to gain a Treasury Department waiver permitting an oil tanker to engage in coastal shipping trade, thereby increasing the ship's value by $5,000,000. The tanker, it was discovered, was owned by officials of Dillon Read. Flanigan too had held a share in the vessel and had disposed of it only five days before the waiver was granted. Flanigan's reply: "I did not even know Treasury was considering a waiver...

Author: /time Magazine | Title: The Nation: Flanigan's Shenanigans | 3/20/1972 | See Source »

...French customs agents last week approached the shrimp boat Caprice des Temps (Whim of Time) off the Riviera coast. The owner, a 58-year-old fishing-fleet operator named Marcel Boucan, refused to answer a radio order to cut his engines, so the agents fired shots across the vessel's bow and boarded it. Boucan frantically threw mysterious papers overboard and, while being taken back to port, slipped over the side. The next morning he was recaptured, exhausted, near the walls of Marseille's harbor fortress...

Author: /time Magazine | Title: FRANCE: Another Connection | 3/13/1972 | See Source »

Once the ship was captured, the French police could not find a reason to hold either the vessel or its skipper. An initial search revealed nothing. Then, a full day later, the agents suddenly noted that the ship's concrete ballast seemed to be oddly positioned. They attacked the concrete with pickaxes. In the center they discovered a cache that contained 40 plastic bags of pure heroin-presumably processed in the South of France and destined for the U.S. French officials announced that the narcotics haul was the largest in history: 937 Ibs. of pure heroin worth between...

Author: /time Magazine | Title: FRANCE: Another Connection | 3/13/1972 | See Source »

...water and walks past him. Yanos is suspended in time, his sexual longing keeping him from turning away, his morality from advancing towards her. He cannot speak, for Anada has offered him no frame of reference, and his own conflicting feelings negate each other. She is an open vessel which is unsure how he should fill...

Author: By Alan Heppel, | Title: Adrift | 2/23/1972 | See Source »

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