Word: guatemalteca
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Dates: during 1955-1955
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...fortnight ago that Carlos Castillo Armas had deposited the check to his bank account, he promptly volunteered a calm and reasonable explanation: the $25,000 represented nothing more sinister than the repayment of a personal loan to an old friend, Mario Bolanos García, head of Comercial Guatemalteca. But the explanation left some king-size questions: Why was a personal loan repaid with a check on Comercial Guatemalteca, instead of with Bolanos' personal check? Why did wealthy Businessman Bolanos go to the President for a loan instead of to a bank? And how did Castillo Armas...
...shortage caused by Central America's spring drought. Back in January, it appeared, Insider Bolanos found out that the government, worried about drought forecasts, planned to lift import duties on corn, Guatemala's basic foodstuff. With a Mexican and two Guatemalans as partners, he set up Comercial Guatemalteca to import corn from Mexico. What with import duties suspended and corn retailing for as much as 15? a lb. (normal price: about 5?), it was a highly profitable venture, though merchants who bought corn from Bolanos & Co. complained that much of it was weevily or mildewed...
...fortnight ago a court issued a warrant for Bolanos' arrest on a charge that Comercial Guatemalteca had failed to live up to its contract to deliver 5,000 metric tons of corn to a government agency (apparently it was more profitable to sell available corn to private dealers). But last week the warrant had not been served, Bolanos was at liberty, and Comercial Guatemalteca was still in business. The government even granted the firm a license to import 4,000 metric tons of frijoles (black beans), now selling at scarcity prices in Guatemala, and 100,000 sacks of cement...
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