Word: colombiana
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Favors Granted. The trouble began when the powerful semi-official National Federation of Coffee Growers of Colombia urged exporters to ship only on the eight vessels of the Great Colombia Fleet (Flotá Mercante Gran Colombiana). Coffee exporters were glad to go along; they did not like the recent 25% increase in freight rates by U.S. lines. Besides, like most Colombians, they are proud of the fleet, which began operations last spring (TIME, May 5) under the joint sponsorship of Colombia, Venezuela and Ecuador, to break what was regarded as a U.S. shipping monopoly. The Colombian Government has helped with...
...Housemaids, Invest! In Bogota, money is usually invested in real estate. But in Antioquia, industrial joint stock companies have achieved a fabulous development. Even the housemaids follow the stockmarket. The biggest investor in the Cia. Colombiana de Tabaco, the country's No. 2 enterprise, owns no more than 3% of the stock. When a new hotel or steel plant is launched, the stock issue is subscribed practically overnight. It is as though every Antioquian peso were motorized to rush into the breach at the first opportunity...
...people of Cali (pop. 125,000) had long complained about the rates and service of the Compania Colombiana de Electricidad, subsidiary of Electric Bond and Share. Last week they began a general strike which spread until the whole city was tied up. Troops were called out, but there was no disorder, no sign of anti-U.S. sentiment. After two days the municipal authorities capitulated, agreed to expropriate the local company, pay for it with a special bond issue...