Word: colombia
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However. TIME was technically right, too, when it said that no wheel had ever rolled between North and South America. In impassable Central America Barone's journey was broken by three water hauls, the longest of which (210 miles) was from Colombia to Panama...
Texas Corp.'s Chairman Torkild Rieber likes to do things with a minimum of publicity, a maximum of purpose. Last spring the Norwegian-born onetime shipmaster bought from the Mellons' Gulf Oil the famed Barco concession in Colombia, promptly teamed up on a 50-50 basis with Socony-Vacuum for its development (TIME, May 4). Last week Captain Rieber struck another foreign deal with another Standard company, Standard Oil of California. In a terse joint statement from Captain Rieber and Standard's Kenneth Kingsbury it was revealed that Texaco will market all oil produced and refined...
From Roman Catholic Archbishop Maximiliano Crespo of Popayan, Colombia, a Chicago gem syndicate bought for an unrevealed sum the foot-high emerald crown of Our Lady of the Andes, containing 453 jewels seized by Pizarro in the 16th Century from the collection of Atahuallpa, last of the Incas. Exhibited in Manhattan, the crown was appraised at $4,500,000 by its new owners, who have been dickering for it since 1914 when Pope Pius X gave permission for the sale. Colombia will use the proceeds to build a Catholic hospital and orphan asylum at Popayan...
Santa Marta, Colombia...
...though, Texaco and Socony will have to stand the costs. Most favored parties in the Barco setup are the Colombian Government and the heirs of old General Barco and interests like American Maracaibo Co., who have bought shares in his original royalty rights. Without putting up a cent, Colombia and the Barco heirs & assigns will eventually receive total royalties amounting to some 10% of all Barco oil delivered to the pipeline terminal. What Chairman Rieber had been willing to pay for one of the richest concessions in South America remained a secret. In the oil industry the price was thought...