Indianapolis Times, Indianapolis, Marion County, 18 December 1951 — Page 22

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PAGE 22

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THE INDIANAPOLIS TIMES

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icago Motor Club; Indiana's

Liquid Gold in Kuwait—

Big Oil Deal Will Make Sheik Fabulously Rich

By JOHN W. LOVE Scripps-Howard Staff Writer

The man who's on the way to being the richest in the world is

Sheik of Kuwait, “The Kuwait Oil Co. has just concluded an agreement by which it will pay him about $120 million on anticipated oil production in 952

and half by the Anglo-Iranian Oil Co, of London,

1951 production, according to relcent estimates. Most recent re-| ports give the oil production at an| abdullah Al-Salim Al Subah, the annual rate of 207 million barrels. | ’ |Next year’s will be higher. Kuwait is the most fabulously rich oil tract anywhere, of 1000 barrels a diy is practi-| cally a dry hole, | | The willingness or the jointly| i Half of the Kuwait Oil Co. is/0Wned company to pay on the

, If Oil of Pittsburgh new 50-50 basis, and the amount) . How Ned by Gif Ol © 8 to be realized by a country hardly Almost instantly TUMS

(100 miles from the Iranian borWhat, -asks the London Econo- der, may well have had some-|e¢ontain no bicarbonate to over-alkalize |

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29 Low sand hill 45 Unit of length 30 Gunlock catch 46 Memorandum 39 Essential * 47 Church part being « / 48 Go by 40 Shekespesreen 50 Indonesian of king « Mindanao « 42 Domestic stave 52 Several (ab.) 3 Thoroughtere § 5¢ She —— on

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44 Afternoon 96 Sun god of / social events’ Egypt

# $700 per capita.

much money? country at the head of the Persian Gulf. It is mostly desert

'3? an- . Still only 10¢. Kuwait is a small Mohammed Mossadegh's” an- tasting nw 8 nouncement, in Tehran, that he Only 10¢,3-Rel Package 25¢ would be interested in letting the :

and has only 165,000 inhabitants, World Bank take the manage-

Divide the 1952 income by the ment of the Anglo-Iranian Oil|

population and you come out wit

At five to the family, say the income could be $3500 a household, if the Sheik elected to distribute the cash equally—which he won’t, of course,

Has Helped Country

| The economist says the Sheik {has much improved the country. i He has hired a number of foreign engineers and other technicians. | He has expanded the hospital and health service and built schools. He has plans for a tuberculosis hospital, a power plant and a scholarship system in British uni|versities. He also has an ambitious planning scheme for Kuwait, the only city in the nation. | Abdullah also is building a wa- | terworks which wlil cost around $7 ‘million, This project is sorely ineeded. Most water has been

| | |

(shipped In. Good drinking water| 4 is costly and the ice in a highball

costs more than the liquor. Until Dec. 1, Sheik Abdullah’s! income was only about 9 cents on| each barrel of oil. i The royalty remains the same,] but taxes are added, enough to | multiply the income by five on

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SNIP, SNIP—Four pairs of scissors attack the Tri-State Highway ribbon, wielded by (left to right) Illinois Gov. Adlai Stevenson; Charles M. Hayes, president C Gov. Schricker and William Erickson, president Cook County (lll) board of commissioners. The ceremony marked opening of the first sections of a super-highway to run from Chicago across Indiana

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The only | open were the in Center Tov olic grade closed. They Christ the Ki Ann's, St. Jos St. Mark's Aquinas: Rural schoc state—particu blanketed nor early start to days because portation prol

Death Meanwhile, toll mounted t James T. H heart attack from his dri Capitol Ave. with Jack C. | Exposure w death of Mrs. Her body was at Clinton yes bors reported from her chim

Samuel Gral crushed to de: he was drivin; of a freight

‘Plate crossing

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The battle of the "50 1 Did you know your life Andrew Tully tioned in The Defense [

missing CG

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