Word: carib
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Dates: during 1930-1939
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Trinidad, British island off the northeast coast of South America, is a hot mixture of bloods, French, Spanish, Negro, Carib, Hindu, Chinese. Once a year, on the two days before Lent, Trinidad goes crazy with a carnival of rum-drinking, parades, musicmaking, mummery-blacks painted or masked as whites, whites as blacks. During carnival, Trinidad characters bearing such names as The Lion, Atilla the Hun, The Caresser, The Growler live high and merrily. They are the Calypsonians of the island, who compose, play and sing the Trinidad music known as Calypso.* Their songs, whose jerky rhythms and insinuating tunes suggest...
Last autumn Carib Syndicate, Ltd. informed its stockholders it had received a $2,000,000 offer from an undisclosed group for its 21% interest in the fabulous Barco oil concession. Since little Carib did not have the money to play along with its big partners, Socony-Vacuum Oil Co. and Texas Corp., in development of the jungle oil properties in Colombia, the stockholders authorized their directors to accept the offer (TIME...
Last week Carib stockholders learned the deal was off, at least for the time being. The undisclosed group who wanted Carib's share of the Barco was, it turned out, in fact acting for Socony and Texaco. Knowing this, little Carib was obviously in a better position to bargain. It was announced that "the parties in interest have taken the matter under consideration." presumably meaning more money for Carib...
Texaco and Socony were ready to spend the big money that the Barco needs. A pipeline over the mountains to the sea (more than 200 miles) may cost $12,000,000. Little Carib Syndicate found itself sitting in on a game it could not afford to play, for unless it shared development expenses in proportion to its one-fifth interest, that interest would be gradually shaved down to an insignificant figure. At the Barco table on one side was Texaco's Chairman Torkild Rieber with $473,000,-000 in assets beside him, on the other Socony's President...
...Carib's assets foot up to a mere $1,200,000, three-fourths of which is represented by its present stake in the Barco game. An investing company, it has only one full-time official Secretary & Treasurer Charles Ferris French. This autumn he was suddenly presented with an opportunity to withdraw gracefully from the Barco game with winnings of more than 100% on the ante. An undisclosed group offered $2,000,000 for the Barco interest. Informed of the facts last week, the stock-holders accepted with alacrity. With that $2,000,000 Carib will look for another game...