Word: chile
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Dates: during 1940-1949
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Next January, Argentina's Juan Perón and President Gabriel Gonzalez Videla of Chile will meet in the shadow of the Christ of the Andes, which was erected in 1904 to mark the peaceful solution of their boundary dispute. There they will sign a newer and more practical symbol of amity: the $175,000,000 trade agreement between Argentina and Chile completed last week in Buenos Aires...
Both countries were happy over the deal, biggest of its kind in South America's history. The long-sought Cordillera Libre, a sort of limited trans-Andean customs union,* was established. Argentina agreed to lend Chile $175,000,000-$75 million for improving Chile's rail, road and sea links with Argentina, $75 million for Chilean industrial development, the rest for a revolving credit to get trade started...
Chileans know Wachholtz as a tight-lipped businessman who made an early fortune in the building industry, conceived the idea of Chile's RFC-like Development Corp. and served as its first president, helped found Chile's largest oil company. He now runs a model farm in the province of O'Higgins, south of Santiago...
Carlos Vial, president of the potent Banco Sudamericano and one of Chile's biggest bullmarket operators, tracked down Wachholtz in swank Viña del Mar and in the presence of President González, was said to have accused him of playing bear and speculating on the market drop. Husky Minister Wachholtz swung on Vial, knocked out two teeth. Last week Vial sued for "grave lesions" to his person; Wachholtz sued also-for defamation and injury by publicity...
...nice comeback. That heartened businessmen. Cool, self-confident Minister Wachholtz, busy with plans for cutting Government spending and starting a state bank, knew that the real job lay ahead: to diversify the economy and end the old reliance on world markets for copper and nitrates. Whatever the outcome, Chile's new government had made its choice: it would stand or fall according to the success or failure of Wachholtz' efforts...