Word: colombia
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...company Socony-Vacuum told its stockholders last week that it had slashed its stake in Colombia's famed Barco concession (originally $26,201,415) to $6,501,415. Similar action had already been taken by Barco's co-owner, Texas Corp. Explanation: the $50,000,000 field -ranked as one of the oil industry's greatest engineering feats-was bringing in only 12,000 barrels a day last December, 50% of October 1939, still further below the 50-70,000 barrels expected. Further exploration might bring in more oil, but in the meantime the late Andrew Mellon...
...third important German loss since outbreak of World War II. Start of the war forced abandonment of the Nazi transatlantic service to South America. Last summer Colombia (with U.S. urging) nationalized the 5,175-mile, German-affiliated Scadta line. Chief lines still operating in South America with direct or indirect German connections: Brazil's Condor (10,000 miles extending into Argentina and Chile), Vasp (1,200 miles) and Varig (940 miles); Bolivia's Lloyd Aero Boliviano (3,000 miles); Ecuador's Sedta (900 miles...
...where there could be no hope of making a profit), became naturalized citizens, married South American women. The lines grew by hauling mail at big losses, carrying South American officials free. Even after the Scadta line was nationalized, about half of the line's 22 pilots remained in Colombia. Two of them bought land ostensibly for farming, used it instead to start an unscheduled line with two old planes...
...Four scholarships of $500 each are being offered by the cooperation of the Experiment in International Living and Harvard College to enable a few students to accompany one of the Experiment Groups which will spend the summer in one of the following countries: Brazil, Peru, Colombia, Guatemala, Mexico. The purposes of the scholarships are to provide students in the United States with an opportunity of studying the culture of a South American country through first-hand contact with its people, of making friends in another country by living in selected homes in that country, and of improving one's spoken...
This problem, superimposed on purely domestic issues, has brought political crises to most of the countries of South America. In Colombia next week will be held a congressional election which will probably determine the outcome of next year's Presidential election. Leading candidate for the Presidency is onetime (1934-38) President Alfonso Lopez, who is not so amenable to cooperation with the U. S. as is President Dr. Eduardo Santos (who may not succeed himself), and in the background hovers the anti-U. S. Conservative Party Leader, Publisher Laureano Gomez...