Word: cubanism
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Dates: during 1950-1959
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...first time since post-Spanish-American War days that U.S. troops had been ordered into Cuban territory, but the Navy thought it had no choice. Early in June, raiders from the rebel army of Fidel Castro burned the barracks of Cuban guards at the pumping station, jeopardized the water without which most of the 6,000 U.S. citizens on the base would have to move out in 24 hours. Base Commander Rear Admiral Robert Ellis conferred with U.S. Ambassador Earl E.T. Smith, who later talked with Cuban Minister of State Gonzalo Güell. It was agreed that if Cuba...
...marines took over, Castro's rebels protested. The marines, they said, were violating Cuban sovereignty, and by relieving Cuban sentries for antirebel combat duty, they were aiding Dictator Fulgencio Batista. Castro's complaints did not impress Washington, but the State Department was put out with the Navy for breaking the U.S. nonintervention policy. Another objection was that Dictator Batista might be gulling U.S. troops into combat with his enemies, the rebels. At week's end the State Department prevailed and the marines withdrew. Without comment, Batista sent his troops back to guard the pumps...
Last week, as the Middle East crisis pushed sugar futures prices upward, Sugarman Lobo stood to profit even more. He owns or controls eleven sugar mills in Cuba, finances another 15 to 20 mills when the market demands it. He handles half the 5.5 million-ton Cuban sugar crop, finances 25% of the Puerto Rican and Philippine crops, amounting to another 500,000 tons. A rise of a fraction of a cent (½ last week) on world markets can mean a small fortune for Lobo...
...engineering at Louisiana State University, then went into the family sugar-trading firm of Galban Lobo. Soon Lobo was on his own, eventually started buying mills as the best protection for a speculator. Five months ago he bought his latest and most impressive parcel: a $24.5 million complex of Cuban mills and other assets called the Hershey properties, once held by the chocolate-makers and since 1946 by Cuban Atlantic Sugar...
...fields to talk with them, personally accepts petitions and complaints on the porches of his many homes, which adjoin his mills. He can also get tough. Lone Wolf Lobo has long conducted a single-handed battle against government controls and quotas. With the backing of most rival sugarmen, the Cuban government keeps tight control on the industry to curb overproduction and bolster prices. It also cooperates with the sugar workers' unions in crippling growers with restrictions that tie the industry to old-fashioned methods. Cuban millers, for example, cannot build a factory without destroying the old one first. Result...