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...Metals Reserve Co.'s original 10? a lb. offer (delivered in New York) did not encourage all-out production in Latin America. So Jesse Jones's Deputy Will Clayton late in September raised his ante to 11½?a lb. By last week, the latest import figures made it appear that he had also licked the other big Latin American copper problem: shipping space. Chile alone (counted on for 80% of U.S. copper imports) shipped 54,000 tons to the U.S. in August, more than twice last February's low. OPM now counts on Latin America...
Another $30,000,000 will go to Mexico in the form of a U.S. loan, through the Export-Import Bank. It will be earmarked by the Mexican Government for highway construction and for rehabilitation of the Mexican National Railway system. Still unfinished is the last 850 link (to the border of Guatemala) in Mexico's 1,700-mile stretch of the Pan-American Highway. For this and other road-building projects, the hard-pressed Mexican Government plans to spend altogether $60,000,000. For the railways, Mexico needs a total of $40,000,000. The U.S. considers both these...
...Export-Import Bank has loaned $5,000,000 to raise rubber trees in Haiti. By last week the project had a 400-acre experimental station, plans under way for planting 7,500 more. In seven to nine years the Haiti program will produce 15-20,000 tons of rubber-about 2% of U.S. requirements. Four large U.S. companies have plans under way for rubber plantations in other parts of the Western Hemisphere...
Britain, on the other hand, sits comparatively pretty. Though she must import all but 5% of her oil, she has access by sea to perhaps 85% of the world's supply. Her consumption is 100,000,000 barrels a year, her problem, transportation. To supplement her own huge tanker fleet she has added Norwegian, Dutch, French and Belgian tonnage, as well as 80 U.S. tankers...
...said the Times, will make $60,000,000 available to Mexico in loans and credits-half through the Treasury, half through the Export-Import Bank. Export-Import's $30,000,000 will be used for building roads, developing Mexican agriculture, etc. Treasury's $30,000,000 will be used to stabilize the peso. From this fund will come a $9,000,000 "token payment" to U.S. oil companies while negotiations for a final settlement are in progress...